Bad Habits of New Traders When people are first introduced to the world of Forex trading, they need to learn to adjust to a whole new way of finding and dealing with companies, terminology, tools, and online trading as a whole. Generally before people get acquainted to the world of Forex trading they tend to have specific expectations and habits that aren’t entirely accurate. The first thing many people do is contact a company and promise they will open an account leading the sales person to call them continuously expecting a deposit. It is perfectly normal to contact a company for information without promising to open an account and committing a sales person to you as a potential client. Just be honest and say you simply have some questions and have to decided anything yet, this will save both you and the company time and trouble. When you start trading remember that customer support and your account manager are not there to offer a Forex trading education. They can answer technical questions, or questions about the company, but they can’t answer questions like “How do I trade?” or “what is leverage”. You need to learn all those things before hand, or ask if they have a Forex education program you can use. A lot of people worry about online money transactions, which is understandable, but once you’ve decided a company is legitimate and legal, then asking customer support if it’s safe to transfer money every single time you do it is a waste of time and frankly annoying. When trading Forex keep in mind that you are risking losing your money, and when you do it is NOT the company’s fault. No Forex company will ever guarantee 100% profits, so your losses are your own doing not the company’s. Always read the terms & conditions of an account, a promotion or a bonus, all the details in there are extremely important, just reading the title of the promotion is not enough to let you know all the details. If you do not read the terms& conditions do not blame the company for any actions they will take. Lastly don’t only ask a company about their bonuses, if a company sees that you are only interested in getting a ‘no deposit’ bonus they will not take you seriously. Even if you are interested in the bonus make sure you sound like you are checking the company as a whole, this will get you much further. fxnet/news/bad-habits-of-new-traders FxNet Ltd is a global, fully licensed Over the Counter (OTC) online Forex and commodities broker, regulated by the Cyprus Securities and Exchange Commission (CySEC). FxNet is located in Limassol Cyprus. FxNets mission is to reach and retain traders around the globe through exceptional customer service, integrity and continuous innovation that will provide our clients with simple, exciting and secured trading platforms.
Posted on: Fri, 24 Jan 2014 09:50:51 +0000
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