Forex Fortunate 5%

Forex Fortunate 5%

" Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it." Warren Buffett

Caveat Emptor

The financial markets industry attracts its share of dishonest and devious people, and the Forex sector has its quota of charlatans. Please be mindful of this when assessing brokers, signal services, and the various others who populate the Forex world.

Some people are easily misled, deceived and cheated, especially traders who are inexperienced, unrealistic, and lacking a suitable temperament. Forex blogs and reviewers report various signal scams, including falsification of performance results, sending different signals to the same client base, and various other tricks. We encourage you to beware, and undertake thorough research before signing with any Forex service providers.

Gambler or Trader?
Probably the most serious impediment to profitable Forex trading is an inappropriate attitude. Forex often appeals to inveterate gamblers who seldom resist the urge to place a bet in the forlorn hope of satisfying their "big win" craving. How do we recognise a penchant for gambling? Overtrading with excessive margin is probable a certain indicator.

One of the most astute traders we know was a chronic gambler and is now a wealthy Financier. He has related several times that what eventually made him a profitable Forex trader were the lessons learned to overcome his problem gambling. Those capable of being honest with themselves will recognise any signs of ludomania. If you have a gambling problem please seek professional help, and avoid Forex trading.

Some claim any financial instrument trading is a form of gambling since it involves taking a risk in hope of reward. What is the difference between gambling and professional trading? Professional traders have a highly developed sense of discernment. They employ prudent risk/reward assessment, usually erring on the side of caution, and identify multiple confirmation signals before entering the market; for them each trade is a probable profit making opportunity.