Not often, but sometimes found on the forums of the topics created by newcomers to the currency market. What do people want? They, apparently, faced with the market, tried to trade themselves, then, having understood and appreciated their chances, finally desperate. Do not want to go, but trade does not work out. Some novices rush to buy something from trading systems, advisers, others are eager to learn more quickly from the "professionals" in the market. Not being able to choose either a training course or a system, the beginner again misses out, spending his money in vain. Returning to the ones that are periodically created on the forums, their content is reduced to a call for help.
For example, a person may ask in his topic to give him a good trading system. This desire is expressed, more often, in general comic: "I would have any good strategy," "I would be a good advisor to a centric account," "share somebody's system profits," and so on. By reading similar messages, you immediately realize that people have not understood the device market, and did not understand what deficiency here is the profitability of strategy, methodology, advisers and so on. No difference, set the work on a cent or dollar account. Asking for an advisor to a centavian, the beginner asks the Grail for a lucrative job at the international foreign exchange market.
A similar situation with the strategies used by experienced traders. This is a workflow, specially selected trading conditions, kilometer reports from a system tester, and so on. Spend a lot of time, a lot of money, a lot of forces, the trader will not give for free the results of his work to the first counter. What will be offered to the novice is either paid options or free "trash" systems, and even if they are used only on accounts opened under the affiliate link.
A constant search for "freebies" does not lead to getting anything worthwhile. Owners of systems, advisers, will not be in a hurry to part with them just like that. Any speculator who has decided to take advantage of someone else's market developments must be prepared to spend on purchasing something worthwhile. In addition, be able to distinguish the really profitable option from the nonsense offered by a crook, just as the task is not for the beginner. Only a trader who has little experience can distinguish a really working system from a futile trading algorithm.
Recommending trading to friends?
I remember how my friends told me about the foreign exchange market for a very long time. At that time, I did not even have the opportunity to connect to the Internet at home, and there was still access to roads. Naturally, the advertising of this kind of activity for me also avoided the party. As a result, as if my friends were talking about an interesting way of earning money, at that time, had not been either technically or financially ready for work on Forex. After a while, much has changed, both in monetary matters and with the ability to connect to the World Wide Web.
At the moment, I do not regret contacting the market, although earlier thoughts were different. But is it all clear in reality? It seems to me that not all people who came to Forex for someone else's recommendation are happy with their choices. I have friends who know about my occupation. They have occasional questions about trading. It is clear that they, like me years ago, have an interesting market, its capabilities, but they are aware that in order to succeed, it will have to work very hard.
"I want to and wobble," that's what a person who already knows about traders, their work, feels, but at the same time understands how much this lesson is not easy. By asking questions, people can not only want to hear the answers, but also feel that they are supported, that they really make the right choice in their lives. Is it possible to give such people hope? This question remains open, and I will only write about why you should not rush to trade in Forex every possible way.
First, a person can, by inexperience, put a lot of money on a trading account and almost immediately lose them. How do you think, at which point he will be offended? Secondly, the novice will constantly raise all sorts of questions, distract us from business. Third, if it is not going to trade in the market, then again, they will be disappointed and will continue to offend us. Fourthly, even if a person has a trading process, we will not get anything from it, then, when there are problems, we probably have a lot to say.
Perhaps it's better to stick to a position that answers our acquaintances short, without embellishment. Do not paint the benefits of trading, while forgetting about its shortcomings. If we do not yet understand the weaknesses of trading in the foreign exchange market, then we should try to look at it more objectively, as if from the side. It is better to understand at once that if everything will be good in the person we recommend trading, then we will receive almost nothing from it, but if trade is not made and a friend will lose money in the process of work, we will only ruin relations with people.
Many trading accounts
Trafficking in Forex is always associated with his attention, addressed to one or another process. This means that if you deal with a few things at once, the trader may not have enough attention to carry out all the tasks properly. Concentrating on working with one trading account, then with another, the speculator risks increasing the likelihood of a mechanical error. You agree that trading on one deposit and on the heels will be completely different in its complexity processes. There is a reasonable question, and why should a person use multiple deposits simultaneously, is there any sense in this?
There are various explanations regarding the use of a large number of accounts at a time. Firstly, novice traders are afraid to lose all their money together, seriously mistaken in their work. They divide their cash into a few deposits to work on one of them, while keeping the rest in stock. It is difficult to say how much such a method of protecting capital is effective, but if it is easier for a person to come in this way and not to impose restrictive orders for his transactions, then the option should be.
Secondly, traders believe that it makes sense to divide their capital into parts in order to have a separate system operating on each trading account. In order not to confuse the trade of different systems, each strategy allocates a separate deposit. Of course, it would be possible to raise all the amounts on one deposit, having built MM for each of the systems, but again, many speculators are not psychologically easier to mix the work of different strategies. They believe that if one job fails, then it can pull all the capital of the common account for all systems.
As we see, the rationale for the division of capital into parts is very subjective. Often you can give them their own, no less logical points of view. But, in addition to the above-mentioned reasons, there are far more objective, logically grounded. For example, if a trader is managing foreign deposits, in this case, in the absence of a person's desire to open a PAMM account, it is logical to trade in several accounts. In order not to collect money from all clients, do not place them all on one deposit, the trader simply takes the bills issued to their owners.
To allocate funds to various deposits, a person must have good reasons. Separation of capital without need can not only not make sense, but also create additional ambiguities. In particular, it is difficult to manage simultaneously with different accounts. On the other hand, there are situations that necessarily involve the use of a large number of trading accounts.