Sooner or later, before each trader, the question arises: is it worth it? It is about the comparability of time and effort spent on material goods. Of course, a beginner has this question to himself more often. You have to be a fairly stubborn person to continue trading Forex, despite a series of financial losses and disappointments.
THE PROCESS OF BECOMING A TRADER GOES THROUGH SEVERAL STAGES:
- The initial stage, when a beginner tries to embrace the immensity. This stage is characterized by a large number of merged demos and real deposits.
- The stage of growth, when a trader begins to plan his trade, simplifies and improves his trading strategy.
- Stage of professional maturity. At this stage, the trader is distinguished by patience in achieving the set goal and sufficient discipline in observing his own trading system. A distinctive feature of this stage is the development of trader’s intuition, of course, it is associated with the accumulated experience of the behavior of currency pairs.
HOW FAST DOES A NEWBIE LEAVE FOREX?
Most often the beginner does not reach the second and third stages and throws trade. And this is understandable because the initial formation requires a new trader substantial moral, physical, mental and financial costs. Sometimes a person returns to Forex, realizing that he did not go all the way to becoming a trader. Significant interruptions in trade help the trader to accept the market not as a game, but as a tool for making money.
Sometimes traders leave forex in the second and third stages. The reason for this can be a good job or a stable, high-paying job. Sometimes a trader is bored with being in constant emotional tension, and he becomes an investor or finds a quieter work related to forex trading, for example, a consultant or analyst at some broker.
Passage of all stages of becoming a trader does not give the 100th guarantee that you will become a successful trader. Unfortunately, the most emotionally persistent and well-adapted individuals survive. Statistics show that only 5% of traders consistently make money in the market, but this is no reason to despair. This is an incentive to enter this top five. I wish everyone good luck!