“And in the absence of facts, myth rushes in.” Stacy Schiff.
We live in a world where misconceptions, without factual basis, are so frequently told that they take an advanced form and become a myth. As Stacy Schiff remarks that it’s only the absence of facts which provides myths the room to grow.
Forex trading is a business built on the foundation of many traders failures and successes. Each trader with his own experience left stories void of facts and filled with misconceptions that did nothing but confused the following traders.
Currency trading, a business involving trillions of dollars, trades $5.3 every day. A market as big and volatile as this, where provides prospects of growth and profit to many newbies, also carries many myths and misconceptions about forex trading in it.
There circulate many common misconceptions about foreign exchange trading in the market. These myths not just discourage the novice traders from arriving into the market but also instill a great pressure and fear into the traders.
The most common misconception related to foreign exchange trading that becomes an obstacle in the way of the will of traders include the idea that forex trading is a piece of cake, while on the contrary, it’s not as easy as to be taken for granted. As much as a trade requires an intelligent strategy, it also demands a trader be emotionally balanced.
The team PacForex detecting the common issues faced by traders, took up the task to burst the myth bubble and reveal the reality of forex markets for all the individuals that aim to excel in the business.