Surviving in the Forex market can be quite difficult.
Understanding the fluctuation that it brings about it requires a lot of patience and mental agility to be trading in the forex market.
With more than 80% of the intraday traders quitting every two years, it just shows how difficult is the Forex market to trade on.
Yet with the right brokerage platform, you can be sure that you can sail through these difficulties with ease.
Shackecoins.com is one brokerage platform that is doing very well when it comes to offering the right brokerage solutions.
Understanding that Forex trading has its own complications, the system design of this platform is quite seamless, making it easy for traders to trade.
Yet, as we have discussed before, more than 80% of forex traders quit.
Let’s find out why.
Why do Forex Traders Quit So Early?
One of the major reasons why Forex traders quit so easily is because of fear.
If you let your emotions get over yourself during trading, then it can result in completely collapsing.
Jared Tendler, in his book – The Mental Game of Trading – Talks about how detrimental fear can be while trading in capital markets.
So, why did they quit?
- Not respecting the market: You might have heard multiple times that the market needs to be respected.Great traders have always understood that not every day is a trading day. On days when you don’t trade, you also earn by not losing what you have. The lack of technical understanding leads to the Forex traders taking up trades on a no-trade day.
Shackecoins.com helps you to gain a deep analysis of the technical movements with the help of the technical charts. It really helps the traders in understanding what’s the right direction the market is trading.
- Going against the trend: As discussed in the previous point, the direction in which the market is trading always determines the trend, and if you’re a trader who is going against the trend, there is a high chance of losing out on the profitability. As a trader, it is always suggested to go ahead and follow the trend.
This brokerage platform has a host of account managers that will also advise you the same.Their in-depth analysis will help you to find out what the trend is so that you can follow it religiously.
- Not respecting the stop loss: Trades can go wrong. There is nothing wrong with it. But if you don’t create a stop loss for yourself then there is a high chance that you will be losing out most of the capital. Often averaging the wrong trades result in getting broke.
Shackecoins.com helps you to find out the right entry and exit points so that you can protect your capital and manage it properly.
Bottom line: The main fundamentals of trading should not be forgotten. Shackecoins.com, with its great product base, can only help you win the trades – if you abide by the rules – completely! Hurry up!