As you know, forex markets are a large market with a daily trading volume of $ 5 to $ 7 trillion.
Both the people who have been interested for a long time and those who are new to forex are most curious about it, is it possible to make money from this sector?
As Kılıçkaya Family, we had searched for the answer to this question for 9 years, and finally found it.
We had a very difficult and financially lost time, but we never gave up. When we experienced a loss, we immediately investigated the cause and found it, but of course it was not enough. When I say a new loss, then its cause, then another loss, cause, etc. this has been going on for a long time.
However, the reason for each of the failed positions we found has started to increase the number of our successful positions. At the point we have reached at the moment, our average success is sitting between 65% and 75%.
When we look back on the past and look at the studies, we see that all the struggles are actually very logical. Because this market is not a market that can be made money in the easy way by sitting in your home or office, as described in the advertising sites.
The traders in the Forex markets generally act according to certain patterns, although they are mostly. You can see the basic investor psychology patterns below.
- Underestimating the System: Generally, people who are new to the Platform start with thinking that it will be very easy to make money. They simply read the technical and basic analysis in brokerage firms and think that they will be all literal and start trading. If price movements go in the direction they want, unnecessary self-confidence is created, otherwise they do not know where to limit their losses and in both circumstances, losses are inevitable.
- Believing that it solves the system: This is a situation frequently seemed by people interested in numerical fields. The person has learned to do both basic and technical analysis. However, the mismatch between the two analyzes becomes even more complicated by the momentaryly changing and unpredictable data flow, and unfortunately, the person starts to go back and forth to end his position. Losses to be experienced will be inevitable because of the decision he makes in all circumstances is not under control.
- Thinking that it is unlucky: The investor cannot succeed in the positions he has opened despite all his efforts and tries to make sense of this failure that occurs despite the operation of the system. In this case, too, one finds himself in a number of approaches far from reality. As an example, he thinks that price movements move in favor of him after stopping his position and this is a great misfortune. Another point of view is that the platform used thinks that it is controlled by someone and that the investor knows their positions has been damaged. Unfortunately, these points of view show that the failure cannot be understood and the losses are not limited to financial losses.
It should not be forgotten that it is not possible to earn money in any business line without the necessary conditions. In order to make money from these markets, many fixed and variable data should be used in the most effective and right time.
Undoubtedly, all these data cannot be expected to be tracked by a person and converted into positions. This is a team work, your colleagues, your forex consultant, your pc and computing infrastructure, your data provider institution connections, and having a fluent and technical foreign language staff that can analyze global developments quickly will make your job easier. Finally, in our opinion, psychology management, which constitutes 40% of this work, should not be forgotten.
In this process, I would like to inform you that as KILIÇKAYA FOREX family, we will be pleased to be with you and to support you with our expert staff.
You can view and analyze all our instant, daily and historical positions using the links on our homepage.
You can contact us for all your requests, criticisms and suggestions.
Author: Birol ÖZDEMİR