After the phenomenal success of the “Wall Street 2” movie the amount of those beginning traders who instantly wanted to become rich at Forex or stock exchange started growing rapidly around the world. What will come of it? What the future has in store for the would-be “Soroses” and “Buffets”?
97% of them will definitely lose their real-money deposits instead of earning millions and billions of dollars within a couple of months as it was done so easily by the characters of Wall Street 2, our experts explained. They are professional traders of Masterforex-V Academy, which became Europe’s best Forex training projects 2 times in a row. Statistics is an objective thing, which gives us the full picture of any phenomenon. So, for most traders around the world the statistics looks oppressive: only 3% of beginners become successful Forex traders while 97% lose.
How to prevent a novice trader from losing at Forex or other exchange market? At the tuition-free School for beginners the professional traders introduced a few lessons which should be learned by any beginner to become a “predator”, not “prey”. It means the following:
1. At the 1st stage it is necessary to treat trading (Forex, stocks, options etc.) as a hobby, paying it a couple of hours a day instead of leaving the previous job and completely devoting oneself to trading and dreaming of millions. According to the experts of Masterforex-V Academy, to become a professional trader practically means to learn how to deprive the world financial system of its money. So do not be in a hurry as they need you as prey.
2. In order to join 3% of the best traders in the world it is necessary to learn what the classics do not know ( i.e. to get ahead of Alexander Elder, Bill Williams, Larry Williams, Demark etc.). That is what the High School under Masterforex-V Academy was created for (the summary of the trading system of a trading classic, his achievements, mistakes and corrections to them through MF TS)
3. Daily trading practice in applying the new tech, wave and fundamental analysis to the market with tips from skilled traders (which is done every day at the closed part of the Academy forum).
4. Only demo trading. A beginner shouldn’t open a real trading account and lose money until he/she can understand each market movement and make profit. If a broker urges you to open a real trading account and to deposit money, just say “no, thanks” as there is no market noise at Forex or any other market.
5. Constant self-perfection and self-cultivation. Forex and other markets are constantly improving and getting more complex, so there can be some vacancies among the 3% of professional traders. That is why the Academy includes dozens of departments and faculties which use innovative methods and techniques to develop new algorithms of successful trading and sharing them with each other.
6. When analyzing trading activity one should analyze unprofitable deals to define the mistakes and avoid repeating them. A trader who learns from his own mistakes will be successful in the future.
7. To gain profit for the sake of the profit is not a trait of a professional trader. A genuine professional is always focused on how right his/her forecasts and suppositions are. Profit comes naturally as a result of professionalism.
According to Masterforex-V Academy experts, one should always keep in mind that a currency market, Forex in particular, is formed by its participants’ activities. So, various rumors, sentiments and emotions can affect the market quotes as well as subjective analysis. It also should be noted that studying psychology and predicting the possible behavior of market participants in a specific situation is one of the fundamental factors leading to success at Forex.
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