1)Forex Trading is easy to learn

Some people will tell you that forex trading is easy or that making money out of forex market is easy. They will tell you that all you need to do is to learn a system and follow the rules. At first glance it seems like it is really easy.

But in reality, it takes a lot of practice and hard work. Successful Forex trading is no different from becoming master at any other skills. There will always be challenges and failures before one can start to see some success.

However, learning to trade is not extremely difficult either, but it is certainly not easy.

2) All brokers run stop your losses to make more money

There are some shady brokers out there who might run your stops intentionally which they’re usually located on a island somewhere with a government that’s easily influenced (with lots of cash).

So it’s your responsibility to do your homework on the broker you trade with. For example, a regulated broker in a major financial center of the world won’t run your stops because it’s not worth the risk for a few extra pips.

The traders who usually complain about their stop getting intentionally triggered are new traders who set their stops too tight.

3) All you need is only the right trading strategy

Even the most successful and profitable trading system ever created will not work for you unless it match with your trading personality.

If the trading coach only sell you the system and do not provide any form of training or psychology coaching, it will still be difficult to trade that system without a right mindset.

4) More confirmation is better

There are some traders who is looking for the ultimate confirmation or 100% guaranteed winner by using multiple indicators to check before trading.

However, with that much of confirmation needed, those traders would probably never take any trades because all the indicators will normally never line up at the same time.

Moreover, the chart will normally be so cluttered which I doubt that the trader can even see what the price is.

Last but not least, even all the indicator line up at the same time cannot guaranteed a winner as there is no such thing as guarantee in trading.

5) Trading Robots are an easy way to make money

Most of the robots in the market is optimized greatly for a certain period of time. They do amazing in those types of market conditions, but they fail miserably when market conditions change.

However, if you have a trading strategy that works and you want to automate it, then a robot is a great way to leverage technology to help you make more money. Since you know what the robot is doing, it’s also easy to see when it needs to be adjusted.

6) Psychology doesn’t matter

In reality, psychology responsible for over 90% of success in trading. When you have the correct mindset, you will be able to overcome the challenges while the traders who do not have the correct mindset will blame others such as the strategies and broker.

Most of the successful traders put in effort and work on their psychology.