Mismanagement of money:
A bad trade can wipe your one year patient even, so intelligent trading is more important. Manage your risks by using orders stop loss, so you never risk too high a percentage of your capital on a single trade.
Lack of knowledge:
If you never marketed before Forex, educate yourself! Successful traders were not born that way. Find a program that you feel comfortable with, and begin practicing on a demo account.
Trading on the foreign exchange market provides unique opportunities for profit, but it is also very risky. Your major work is how you start to negotiate, and start trading only when you feel comfortable in your knowledge and skills.
Forex Brokers:
Generally all Biotechnologists have less knowledge on Forex Trading. So it’s better to choose a Forex Brokers for making successful workouts.
The currencies that are traded on the forex markets are going to be those from most countries worldwide. Every country’s currency has a unique three letter symbol that will represent that country and the currency that is traded. For example, the Japanese yen is the JPY and the United Stated dollar is USD, the British pound is the GBP and the Euro is the EUR. Many currencies can be traded each day or you can trade to a different currency every day. Trades that are handled through a broker or a company will most likely require a fee which means that you need to know what trades you are making prior to making those trades so you know which involve additional fees.
Additional Information
In general Trading forex is serious business and can lead to serious profits. However, if improperly trained, the investor may suffer serious losses. It is therefore strongly recommended to get as much credible training as possible from people who have been there and done that.
