Get some sense:
Until you learn to trade the Forex market outside the way the brokers presented to you, you'll keep loosing money till you lost all your life savings, When You hear them tell you that Forex is a risky and that you can lose all your invested capital,it is so because they know man has a greedy nature and even with the so-called best analyst, you will eventually loose your funds into their pockets.
Forex trading is not all about Technical analysis and fundamental analysis, its all about your mind my Friend.
They are many great analysts and third-party services out there; you just have to make sure you pick the right ones. A whole community of professional technicians, economists, and analysts exists to service the institutional trading industry. providing innovative trading ideas or market advice.
The difference is that they make their money through their calls (reputation) not through your trading (by getting referral money from the broker). I have personally used several subscription services in the past, with varying results, but have noticed that good services have a few things in common:
•First, they are not cheap. As the saying goes, you get what you pay for.
• Second, they have a track record. Not just a cool website.
• Third, they have real-world FX trading experience. They can be ex-prop traders. dealers, treasurers. etc. Basically they know how the real FX world works. and lake into account the manipulation, aberrations, and "irrationality" that sometimes prevails in these markets.
• Fourth, there is a time and money~management aspect to their analysis. It is useless to tell the average trader that the euro will drop to 1.20 if first they have to go through 300 pip gyrations and wait for three months.
Opportunity cost is a real cost for most traders with limited liquidity. The last thing you want to do is have your equity locked in a trade that is not moving while bypassing other (maybe better) trading opportunities.
All traders, whether self-taught or not, must at some point ask themselves this question: "Am I improving?" Answering this question honestly will save you a mountain of heartache down the road. since it is of no use to waste valuable lime and money doing something that docs not fit your skill set.
If, for whatever reason. you are set on becoming a trader. proper money man-agement is by far the most important factor in achieving success. When you think about it, most traders spend most of their time trying to figure out when to trade. instead of how much to trade, which is surprising given that money management is the only thing a trader can actually control!
Forex is MONEY MANAGEMENT & not Your Technical Drawings.
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