Forex, as the largest market in the world, attracts people with its glamour and size. It could be said that Forex is the largest casino in the world and millions of people are lured into this game by media manipulation.
Unfortunately, this article will not provide an explanation of why this is so and how it all works, which is a crucial part of successful Forex trading. Let’s imagine that we have the opportunity to create something like Forex. How would we do it and how would we focus it to make it a functional system that would make us money? This is a question you should try to answer. The answer can significantly help you in trading.
Trading Forex can be compared to a casino very simply. On the one hand, there is the market (casino), and on the other hand, there are we, the players. Many people come to the casino with different amounts of money, and as we know, most of it stays with the casino owner. It works the same way in Forex. People come for various reasons and set up accounts. They deposit their money into the market and expect to make a quick profit. Of course, sooner or later, they will lose everything, and that is where their journey through the obstacles of Forex and markets begins, or their dream ends.
However, there is also a group of people who approach Forex more responsibly and know that to outsmart the casino, they need a system. This thinking group of people, like the first group, also faces obstacles that will later deprive them of most of their money. And it is precisely for the group of people who are serious about it and face a lot of obstacles, mainly from the perspective of capital size, that today’s online trading via prop firms is an ideal opportunity to succeed in the market in the long term.
Many people see Forex as a business. While that is nice, the problem is that they don’t behave as if it were an actual business. Let’s take a simple example of a trader who comes to the market with a certain idea of profit within a specific time frame. For beginner traders, this is often an idea that they will make 100% or more in a month and therefore, when they invest their own 1,000 EUR, they can live comfortably. This trader has some idea of what to expect from the market and even copied some system somewhere. He looks at the chart and searches for the desired signal, as he wants to get rich quickly, his system is undoubtedly intraday, because he read that this is the quickest way to get rich. So, he watches the chart, and the signal does not come. His plan is to make 50 pips today to meet his goal. But the signal doesn’t come, so he simply finds his own signal to meet his plan. And we’re done. Imagine that you have a construction company with a specific contract to build a house. One Monday morning, the workers come to work and find the house locked (presumably the owner is still sleeping after the weekend). What do you do now? Do you break down the door or do you go and remodel a neighboring house because you have to meet the plan? Definitely not.
So, let’s stop looking at Forex and the market as a casino and gambling. We need to start looking at it realistically and understand that when the owner doesn’t show up at the door, there’s simply nothing to renovate (trade). This very simplified example illustrates how most people look at Forex and why gaining insight is necessary. Without it, it simply cannot be done. What is behind the curtain simply prevents the average person from succeeding in the game. Either we know nothing at all, or conversely, we must know a lot in order to succeed. There is no middle ground in this case, and most people fall into this category thanks to today’s information options… Get out of this crowd, join our training programs, advance, learn to manage risks hard and follow rules, and get the large, funded accounts and commissions that can truly sustain you.