Why people quit trading Forex trading profession
Everything that has a beginning must have an end. It is natural that the careers of currency investors come to an end too. But there are some exceptions when the investors quit their trading. Several factors are behind them quitting their trading career. Today, we will discuss the reasons why traders leave this market.
This is probably the biggest reason why the traders leave this platform. When people fail to make any kind of profit then it is normal for them to be dissatisfied with such a platform and leave it. Despite having many opportunities, many fail to make money from trading and thus end up quitting the Forex market.
The currency market has the highest risk percentage of all the trading platforms in the financial sector. A higher risk means a higher percentage of losing orders. Since many are not okay to deal with this higher risk, they often switch to other trading platforms and saying goodbye to this market.
Sometimes when your profit is not up to your expenditure, you need to look for some other options. A low profit might not be enough for the investors to lead their lives so they quit searching for a high profiting medium. But if you trade with a decent amount of capital, you will definitely make some big money. Check here and invest the right amount of money to make consistent profit.
Every Forex participant knows how stressful it is to execute a trade in this market. Since this marker comes with a high risk, the pressure to come up with the right decision is also high. So, whenever someone fails to make the right decision, they suffer from the stress of losing their money. Again, losing money triggers the anxiety to revive such losses. Thus, it becomes harder for many to continue trading here.
High brokerage fees
Large number of traders tends show their interest in short-term trading. Whenever an investor takes up on a trade, they are to pay the brokerage company some fees and commissions. However, it is not always possible to make profitable trades, but since they have to pay the brokers, investors often have to do it from their pocket. As a result, the amount they earn becomes less than they spend causing an overall loss for their accounts.
This is an important reason why many drop off from being a currency investor. High volatility means the investors need to keep on monitoring the market more frequently than ever. If any trader doesn’t have the time, it might not be possible for him to keep on monitoring the charts and this might not be healthy for the trades. So, though this high volatility is a blessing for many to find rewarding opportunities, it becomes a liability to many others.
What you can do
If you are thinking of quitting the market as well, then take a break and think about it for a while. You first need to find out if you are in a position to leave this market or not. Think about the investment you have put in. If you have lost your capital then it would be wrong to go back without recovering that amount. You might still be an inexperienced investor who has yet to unleash various levels of this market. Therefore, you should spend some more time to find out if this market works for you or not.
After you face a loss, you should never get into revenge trading. Revenge trading is one of the reasons why investors lose their minds and trade recklessly only to lose more money. Rather you should take a short break and refresh your mind. You should focus on what you enjoy doing for that split time. Meanwhile, you should invest in learning about trading and sharpen your skills as an investor. You can sign up for demo accounts if you want some first-hand experience of the market. Furthermore, you will find several articles to help you with all your trading work. Then you can come back with more enthusiasm and determination to do well in this market with your newfound trading skills.