Just like the “iceberg illusion” there exists a "forex illusion”. Observers only see the exposed portion of the iceberg on top of the water forgetting that there is an equal or greater part of the iceberg below to make it balance.
Such is the forex illusion whereby individuals, traders, and would-be traders only see the bluish part that is the money-making part of the profession ignoring that they have to study and practice hard to be successful. This is what has led to negative feedback in forex trading in which 90% is attributed to losers and only 10% for winners.
The Manifestation of Illusion in Forex
The forex illusion is a phenomenon whereby individuals trading in the forex market belief that it will be a 100% gain even though forex trading is not 100% success with only the sheer knowledge they have acquired. How does the forex illusion manifest?
Illusion in forex occurs when people especially beginners in forex trading do not continue in daily and intensive studies after their induction (first and usually fundamental training).
They sit on the fence and expect to be profitable in the market which usually turns the opposite way. This leads to loses in trading and traders often attribute it to the market or brokers, while some blame the invisible forces of the universe.
Exigencies for a Successful Forex Trader
There are various requirements one has to put in place to succeed in forex trading. They are divided into pre and post necessities.
Pre-necessities
The pre-necessities consist of the induction (forex training) through which you are transferred the knowledge that introduces you to the fundamental aspect of trading. This permits you to navigate to an extent in the market but is not sufficient.
Post-requirements
The post requirements refer to the work the trader has to carry out before, during and after trading from day one to the last day of your trading journey. This entails much efforts as s/he has to carry out research in areas of weakness for improvement. Without the aforementioned, you will not succeed because the forex market cannot be deceived.
Nothing good in life comes easy. To avoid the forex illusion phenomenon and succeed in forex trading, traders have to work out flat. The trader has to invest his time in reading forex books, articles, attend a training session, and listening from expert traders.
As such a trader will be able to develop a winning strategy, writing and implementing a good trading plan and will become profitable. What you need to succeed is around you online and on-site no matter your location on the globe.
Connect to https://chat.whatsapp.com/EeZ0JbkOX1BK5TpKTorkBi and have access to all what you need to become a profitable trader.
Why can the forex market not be fooled?
The forex market cannot be fooled because it is a decentralised online market controlled by the forces of demand and supply.
It is so because, in the market, someone is either buying or selling a currency pair, you don't buy and sell a currency pair at the same time thinking that you will trick the market.
No, you cannot trick the market because the market is wise enough and surprisingly SMART. It can be illustrated by a simple rule that is when prices are rising you buy, and when they are falling, you sell.
That is why when you make a wrong analysis and consequently a wrong decision, the market will just obey. This is what eliminates fraud in forex making it difficult for the forex to be dubbed.
The forex illusion is therefore real and turns out to affect the performance of forex traders. However, forex itself is not an illusion, it is a pragmatic skill and to succeed, one must go an extra-mile because only individuals are the ones who will be wrongly impressed, not the forex market. Connect to; https://chat.whatsapp.com/EeZ0JbkOX1BK5TpKTorkBi and be delivered from this miss-perception.
By Ayeah Gideon Gobti
