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There are a lot of misconceptions when it comes to forex trading. We’re going to dive a little deeper and go through some misconceptions and debunk them. Here are the top 6 misconceptions with forex.
1. THERE ARE MINIMAL LOSSES
When it comes to Forex trading, you need to be prepared that there could potentially be some bad weeks depending on how the market is moving, and any other factors that come into play. However, you need to look at the overall picture not just daily or weekly.
2. YOU CAN'T EARN MONEY WHILE TRADING
You can certainly earn money while trading. Keep in mind it is a long term investment. You also need to be dedicated and consistent to earn and formulate a profitable trade strategy.
3. TRADING IS GAMBLING
A lot of people do get this confused because you're putting your money into something without knowing the outcome, which is false. Trading you're taking calculated risks, knowing that there could possibly be a loss. You're also going into trading with...