In the recent times trading has been gaining a lot of popularity. And the further we go, the more popularized it becomes. And of course as with most popular things — the more wide-spread it gets, the more lies and myths people start telling about it. And it makes us wonder… What lies about trading were we told along the way?
1. Trading can help us get-rich-quick.
2. You need to stare at the charts and news 24/7.
3. Anyone can do this and see profits.
4. All you need is the current performance of the assets.
5. You can trade without losses.
6. We can trade without trading signals.
1. Trading can help us get-rich-quick.
Trading is NOT a get-rich-quick scheme. It actually takes a lot of dedication and a lot of work. It takes a lot of time and effort in order to start bringing you money. And those who say that trading is just like gambling in this regard are very mistaken. They do not understand all of the volumes of learning and work we have to put into trading in order to not only make it profitable but also to keep it that way.
One needs a lot of patience and a lot of dedication in order to see the profitability from trading.
2. You need to stare at the charts and news 24/7.
While that is not really too far away from the truth, it is still not the full truth. Even though we do need to look at the charts and follow the news religiously, it doesn’t mean that we need to do this all the time. There are long trades which do not even require us to check up on them all the time — lust when we really need to.
Trading does not really tie you up to itself. Watching the chart and reading the news is really only required right before the trade is put down right up until the moment it is finished. After that you are as free as a bird.
3. Anyone can do this and see profits.
Well, no. Of course anyone can start and try, but not everyone is going to see the profits and gains. One needs to have a certain set of skills in order to see success. You also need a lot of dedication and interest to stay in the game. And those are not the features of just about anyone.
Trading is a specific circle of people and in order to get in you need to be a specific kind of person. And you need to really be interested in finances.
4. All you need is the current performance of the assets.
There are such things as trends. And you need to know them and to follow them in order to see gains. And the biggest problem here is the fact that trends and the current performance of the asset are not always the same. Quite the contrary — very often we see current growth on the overall downtrend.
Retracements — they are the biggest deceivers here.
Can you make money without knowing the trend? Of course! But you are going to risk a lot in order to turn that around. So it is better to not listen to this lie at all and focus on seeing the trends as opposed to the current retracements that can deceive you.
5. You can trade without losses.
LIER, LIER, PANTS ON FIRE!
No one can trade without losses. There is not professional trader out there with 100 percent win rate to their name. It is simply impossible. And if someone tells you otherwise know — they lie to you.
Losing is a very important part of trading and you need to remember that the next time you see your trade go downhill. Of course this doesn’t make losing any easier and more pleasant, but in the end what can we do about it?
6. We can trade without trading signals.
Trading signals are very popular and very useful. They are what makes trading easier and can shield us from at least some losses and mistakes. Professional users opt for using trading signals more and more often. And if pros are using them, you know they are good and useful!
