Who should not trade forex.

There's a category of people who shouldn't even begin trading on the forex market. The outcome of their attempts is quite predictable: loss of money and further disappointment.

Typically, these aspiring traders share a number of common traits that will hinder their success.

So, what traits can hinder their ability to become a trader and lead to loss of money?

• Greed - consider how often you borrow money or treat someone at your own expense, how much you love money, and how difficult it is for you to part with your own money.

If you admit to being greedy, you're better off avoiding trading on the exchange, as this very trait will force you to take excessive risks, which always leads to losses.

• Laziness - do you exercise often? Do you take out the trash or go to the store without complaint? Do you need reminders about unfulfilled obligations?

If you answered negatively to all the questions, then you are not lazy. Forex trading is still the same job, and in order to have a stable profit, you need to work hard, and doing it yourself is much more difficult than simply working under someone's guidance.

• Lack of self-organization - you will have to learn almost everything on your own. Yes, there are paid and free Forex trading training courses , but even in them, no one will show you ten times how to open an order or make graphical plots.

If you cannot self-organize, your trading will turn into spontaneous opening of deals, and trading at random always means losses.

• Inability to analyze - all trading is built on the analysis of the reasons that led to the price movement in one direction or another. The ability to analyze and draw conclusions is key in stock trading.

• An urgent need for money – paradoxical as it may sound, if you need a lot of money urgently, you're unlikely to get it, as you'll always take unjustified risks and try to make money quickly. This will lead to fatal mistakes.

Don't be upset if you discover you have some of these traits; there's always an alternative to independent trading – investing . It's always better to share a portion of your profits with an investment fund or manager than to lose your deposit a week after starting trading.