Many traders of this industry think they have got the special gift they need to make money. It is not right as you only learn how to trade when you are spending time in this market. There are few people who have the gift to analyze the trends and the luck was also in their favor but not many could be like them. Most people have to work hard on their way to reach success and it is not possible if you only trade like the common traders. The reason people always lost most of their money is they do not understand they have been trading with the common decision of a group. These decisions do not give them money but it only loses the profit as this market has a very small reward ratio. Only a few traders are lucky to go home with their profit in their account for their trades. All the professional traders always go against the herd and they are successful. This article will tell you why you need to break all your ties with the herd and trade in your own way.
Stop using signal service and Bots
Many novice traders in the United Kingdom prefer signal service to trade the Forex market. But they forget one simple thing, this market is totally unpredictable. If you want to establish your presence in the professional trading network, you must learn to trade by yourself. Those who trade the market with EAs and bots are just following a bunch of codes. You have to assess the sentiment of the market to find the good trades. Due to this fact, you should always use the manual trading system.
Only 5% of the traders are successful
If you follow the herd, you might not know about the success rate in Forex market. Only 5% of the traders are successful. So it’s very obvious, by following the herd you are going to lose a significant portion of your investment. On the contrary, if you manage to educate yourself with the proper knowledge of investment business, you can easily make a decent profit. Unless you have strong confidence and passion for trading, you should never go for the professional online trading account. Without working hard, you will never be able to find the best deals. You have to use your intellect to become a profitable trader.
The herd is the common traders, they do not have the right analyses
When many people gather at a place, it was supposed to bring good result but it does not happen with the herd. They bring only bad news to their accounts because they do not know how to analyze the market properly. Market and trend analyses are an important part of your trading and these people mostly form groups because they want to avoid the hard work and only take the sweet money. As many people analyze the trends and patterns, it is hard to come to a common decision. They trade the market without any analyzes and they lost money. If you are in a herd, you can never make a profit as every trader will tell you important things. The only way to make your profit is by trading on your own. It is far better and you will make wonderful results.
Few traders are successful
If you are thinking that we are giving you the wrong information about group and herds, you are wrong. We have nothing again from you but only to let you know the truth. Look at the ratio of successful traders and you will find out why it is not possible to become a winner with the common decision. If trading was so predictable, nobody would lose their money and everybody would become a winner. It is only a few traders who trade on their own and they are the successful people.