Industry statistics indicate the early success for new Forex traders is amazingly low, with almost 95% of investors losing money. Over time, this trend tends to reverse itself, but for many, it is too late. According to Stan Martin, spokesperson for Forexvestor.com, after posting a certain amount of losses, most novice traders give-up, believing that Forex trading is simply not for them. But Martin says, it does not have to turn out this way. —
"I believe if all things were equal from the very beginning, new Forex traders would stand more of a chance. However, in the beginning novices are learning the system, trying to figure out what trading platform to use and, quite frankly, wasting a great deal of money. We established our site to help lower the learning curve for newbies, helping people become smarter traders from the get-go."
Forexvestor, the online site dedicated to Forex education, reviews and news of the industry, provides a great deal of helpful information aimed helping the new investor from making common mistakes, picking software and making informed decision, says Martin. "We provide blog entries and reviews of software aimed at helping anyone new to the Forex investing platform make educated decisions. A recent etoro review we posted has everything a newbie might need, giving him a leg up on the learning curve. We encourage everyone to check out http://www.prweb.com/releases/market-mastery/review-bill-poulos/prweb10158762.htm to read the latest and greatest."
Martin goes on to advise newcomers. "One thing many traders seem to bet their luck on is the changes in the news, and although it’s a good idea to use this information to your advantage as far as knowing your market goes, it can be disastrous to make assumptions." Instead, he suggests, "You need to have a plan for your trades no matter what currency seems to be rising or falling, and jumping in without one is kind of like abandoning ship with no life raft; you could sink or swim, depending on the tide."
Other rookie mistakes include staying in the market too long, as Martin explains. "Many traders make the vital mistake of allowing their investment to ride far longer than it should in the hopes that the market will bounce back. An alternative to letting it continue to decrease as the market dips is to use a stop loss order, but many new investors don't do this until it's too late."
"We see people daily who are interested in becoming Forex investors, but they're afraid because of the negative publicity given to those who've lost money. The other side of the coin are the people who make big bucks in Forex trading. These are the ones who do their research, learn the tricks of the trade, and play it smart. We just provide a platform for newcomers to become intelligent traders."
Forexvestor.com is a site dedicated to helping people become better Forex traders and investors. The site provides education, news and reviews of the products and programs available to investors.
Release ID: 23761