Many newcomers to the forex market are afraid of asking questions and fear to admit that they lack the basics that they think they should possess already. But this is non-sense. Being a Forex Beginner is not a shame at all, although many of them think of it as a laughable handicap.
Moreover, this type of traders where the ego is over-dominating the mind will very likely face more difficulties in learning to respect the markets. Keep in mind that forex trading is nothing else but a profession that requires time, energy, and discipline to learn. But this is the rule of the universe and no human being can back out of it anyway.
Every single trader who is considered as a professional market expert had to go through the start-up phase, although they tend to forget it every now and then. As the saying goes: A journey of a thousand miles begins with a single step. This is exactly how currency trading works and this is how beginners should approach it.
On the other hand, it is very good to be a beginner in the sense that no effects have ever reached you, so your mind is free of all those misconceptions that may influence your portfolio in the direction of the negative territories. Being labeled as ‘freshman’ in this field is way better than having a 5-year long currency trading experience concluded with a lot of money down the drain, now completely broke down and filled with anger. That is definitely a super start of a future via dolorosa because as soon as you begin to feel resentment, fury, and discomfort you are surely not far away from losses.
I would highly recommend you to take a deep breath, sit down for a second and take a moment to think it through. You have to see very clearly your goals and aims associated with forex trading. It is even better if you put it down on a sheet of paper or create a digital mindmap to organize your ideas into logical blocks. Currency trading is not easy work and not an easy lifestyle so it is worth thinking twice before you proceed further.
Let me finish my post with a Bible peace of advice: If you want to belong to the group of those who have become successful in trading then you have to chase the profits instead of chasing adrenalin while trading.
There is a big difference between the two – although it is up to you, it is your choice which path you will walk. I daresay, I have seen many successful forex traders with well-balanced, moderate, and ordinary lifestyles and you could never tell that they were making a fortune from online currency trading. On the contrary, I have also seen a bunch of loud and sententious forex traders who ended up with dried out portfolios and vanished from the markets forever after a short period of time. I am sure that the old observation has never been more current than now: barking dogs seldom bite.