BUSINESS MYTHS

Hello merchants!

There is a lot of information about trading on the Internet and sometimes it is difficult to understand what is true and what is fiction.
Today we will try to classify the most popular myths and understand what is really true and what is not.

work tirelessly

You have to work hard, but don’t overdo it.
If you look at charts 24/7 or study hundreds of systems, you will simply go crazy.
There will be a mess in your head, and most importantly, you will be tired.
improve their skills and discipline, keep a trading journal and analyze trades, and don’t forget to rest.

it’s a matter of discipline

Discipline is a very important skill for a trader.
Through discipline, you can control your emotions and follow the rules.
But don’t think that one discipline is enough to be a profitable trader.
If you lose money over and over again, it may be because of your trading strategy.
Analyze your trading and find your style.

Entry point

The entry point is very important when making a new trade.
The better the entry point, the less the price will go against you if you have analyzed everything correctly.
However, there are other factors that play an important role in trading: position size, stop loss, trade management, etc.
The entry point is only part of the whole job.
Did you know that even with random entry points, you can still be profitable if you think about stop losses, position sizing, and trade management?

Cost effectiveness

Trading is not a day job.
And don’t expect to make a big profit in an hour.
The main task is to be profitable at a distance.
Don’t run for quick wins.
Remember that the more positions you open, the more likely you are to lose.
Participate in consistent profits that are different for different trading styles.
For resellers, consistent returns mean making a profit every quarter. For traders who trade daily charts, consistent returns will mean making a year’s worth of profit.
Determine the value of consistent performance to you and follow the plan.

Trading is a risk

Every day carries a variety of risks.
You risk being hit by a car or having an accident.
But after a few driving lessons, the risk of having an accident decreases.
It is the same with trading.
Over time, you will become more experienced and better versed in trading, which will reduce your risks.
all in the life It carries some risk, and your job is to keep all possible risks to a minimum.

Leverage

There are many advertisements on the Internet for brokers offering incredible leverage.
Brokers say that you can make a 100% profit from a position, but they do not say that you can lose it all.
Leverage in inexperienced hands will result in the loss of the entire account.
Always remember that leverage is a double-edged sword. can increase as much their earnings as their losses.

grail

Everyone wants to find it!
But is not.
The Grail does not exist, and professional traders have no secrets.
To be profitable you must have experience, knowledge and discipline.
This is what distinguishes professionals from beginners.

You can win $100,000 with $1000

You often see ads that say you can earn $100,000 with $1,000.
It is unlikely that there is at least one newcomer who can do this.
Seeing such an ad, beginners think that it is possible to do it in one go.
In trading, you need to have a lot of money to earn a lot. If you have a small starting capital, then you will not be able to earn a million dollars in the short term.
In the early stages, think about how not to lose capital, and only when you learn this, you will understand how to consistently make a profit.

Where will the market go?

At first, all traders want to know exactly where the price will go.
Essentially, it means knowing the future, which is impossible.
It is not necessary to try to predict the future, in trading you will win thanks to the odds.
You must study this theme and understand that you don’t have to be right on every trade.
You can be wrong more than half the time in determining future price action and still be profitable.
Just don’t lose more than you win.
Reduce their losses and let run their Profits.

Conclusion

The world is full of trading myths.
There are gigabytes of information around and it is very difficult to understand what is true and what is fiction, what is really useful and what is not.
Study the market, but don’t believe everything you read.
hear the best, but don’t forget to think with your own head.

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