Forex Market Contest
Forex contests occupy a special place in the interests of traders, as their majority is now conducted on demo accounts. Open Demonstration Deposit can anyone who has installed a computer terminal on their computer brokerage company, announced the start of the competition. It is enough to register as a participant and will be able to compete for prize places. The interest of brokers is clear, because people, having learned about the competition with valuable prizes, will want to get a chance to compete for the prize, and, therefore, get acquainted with the trading conditions of the company. As participation in the competition is free, then the person taking part in this process can get a prize without risking. By evaluating the broker's offer, its trading conditions, the trader in the future may decide to transfer his deposit to this company.
Many currency speculators are engaged in the search for contests, promotions, are arranged by brokers to constantly participate in such events. Prizes are usually cash or bonus. If the first option is clear, then the second case is the transfer to the winners of the account, where there are bonuses. This capital can be withdrawn from the deposit, but all profits earned by the trader as a result of work on this account can be withdrawn unrestrictedly.
How does a broker-sponsored contest affect the trader's psychology? Man gets used to taking risks, choosing an overpriced lot, opening an agreement without trading system signal. In order to win the competition, the speculator needs not only to make money, but also to bypass the results of his colleagues. This means that a leisurely trade will not be successful for speculators, it can only help a person with a very mediocre place in the final ranking. To win the competition, you need the risk and luck.
A trader, even having developed a high-quality system, can not guarantee a profit if he overestimates. Each system has its periods of deposition, which can prove fatal to work on the account, if you do not adhere to mania management. On the other hand, without overestimating the risks, a person will practically not be able to bypass competitors. The situation is complicated by the fact that the outcome of the competition depends largely on the luck of the speculator. Because of the high risks it will lend to those whose system during the competition does not fall into the abyss.
The speculator is accustomed to risk, overestimates the risks, ceases to count on the MM, which is reflected in his day-to-day work. Getting used all the time to work on the verge, a person is hardly rebuilding on conservative trading. From the point of view of psychology, competitions for currency speculators have a negative impact on human work. It is worth thinking about the psychological state, which can become the main problem in the work of the currency speculator.
Do not quit trading on Forex?
One can come to terms with the idea that those people who tried themselves as traders and later left this occupation certainly did not imagine that they were weak for the currency market. Who knows, maybe the truth the man could not withstand, broke, although only a few days ago he really wanted to succeed. Especially bright is the sharp transition from adoring trade to the market to full apathy, when a person puts on his trading account a large amount of money for him. While working on the market capital is lost, and a person feels all sorts of negative emotions. In this case, the trader often throws trading, and everyone says that the market is a scam, he himself is deceived.
All thrown Forex trading did not endure the complexity? No, of course, no. Imagine a situation that a person is looking for, what to do. He is considering different options, one of which will be just the currency market. My husband studied information, tried to bargain, and then realized that this lesson was not for him. It is possible that he already has an idea of a more appropriate way for himself to earn. Trading may not suit a person in principle, but may like it, but lose in the competition another alternative that is equally accessible to the person. Many of us have tried to work in different places, even in different fields of activity. In all these cases, we choose that we are more suitable, which will be most interesting to us.
Throw trading on a forex from a hot one, then, after a while still come back to the market. Not many traders threw this lesson several times, each case turned out to be the last. In fact, if you do not wait a lot from the market at once, then you can avoid such unpleasant psychological disorders, which often appear during the loss of a large amount of money in trade. Every currency speculator for a long time learns to work, earn, no one is able to trade stable profits without training. Of course, if you immediately appear when the first troubles at work, then it is unlikely that a person can find a place in his life. On the other hand, not every business for which we decided to take, we should on the shoulder. We may make a mistake in our choice, but worse for the trader, when he still needs a lot of time to notice this mistake.
A bit about trading
Trade is always a high-risk occupation. It is impossible to predict all the factors that could affect our work. Some degree of uncertainty seems to open up opportunities that we did not have before. If a person manages to use such opportunities, then we can talk about success. In the same case, if a person does not fully realize himself in the case chosen by him, then he will suffer losses, and not only monetary, but also temporary ones. Agree that time is also our resource.
Once we have chosen the seller's way, it is necessary to remember that not participation in some process is paid to us, but only the result. Only earning money in the market can we be satisfied with the execution of the business that we were engaged in. The principle of earnings for the sale of some goods or services does not change over the years. Buy when cheap, we sell more. It is difficult to invent a "new bike" here because the market principles remain unchanged, although there are changes at the level of the details of the trade process.
Being a speculator means having the necessary grip to keep profits. Our personal qualities do not always contribute to the constant growth of our work. Man has to learn, to adjust. It is not enough to study only the subject of its trade, it is necessary to change itself, developing those peculiarities of character which can help to improve the results in our professional activity. Attention, patience, punctuality, and much more, can be greatly improved by speculators, which will help them in their work on the market.
The qualities of a successful trader are revealed by various companies conducting research in this area. What only assumptions were not built by marketers, financial analysts. To derive a single formula and failed, although there were created some aspects of human features that increase the likelihood of a trader moving into a list of successful speculators. Of course, there is no guarantee that a person becomes more successful, developing in itself useful for the trading of quality, however, this is the only opportunity to independently influence the situation.