Who should not trade forex

[Daisy]

I think in forex, its just like any business or gambling even, some people should not do it. Just like in gambling, there are some that become homeless over it. They spend every dollar on gambling and they do not know what they're doing most of the time. If you lack knowledge and do not care to learn then don't trade cause you're gambling and you will lose. I don't doubt that there are gamblers in forex. You should not trade if you can't control your money or risks or greed and you're impulsive. There are people out there who would get really impulsive at certain things and no way can they control their money so they will lose miserably in forex. I even know some people who drop all their money on the blackjack as they first get to a casino so the same people will do the same in forex. What are your other lists of people who should not do forex?

 

[barood4money]

Well, As per regulation anybody who is over 18 years old can trade. But at real world age never matters. I think that those who have some characteristics should not enter the world of forex trading. Such as those persons who don't have idea and knowledge about forex trading should not trade. Those who don't have the capacity to take risk should not enter. Those who want to rich in a day should not enter.

 

[Decub]

Yes, age wise, those still below the age of 18 are advised not to. Even on the brokers end, they request 18 and above as I am yet to see those which accept below 18. In the same vein, Forex requires some qualities which not everyone possess, some can be learnt and acquired but some others like the ability to bear losses might be difficult to learn and to avoid health problems, it is advisable not to venture into it.

 

[Bonyi]

The person who doesn't want to be knowledgable, who doesn't want to practice, who doesn't want to be experienced in forex should not trade forex.

 

[gkintl]

Even though no body is barred officially from trading in the forex market, still, as per professionals forex trading is not suitable to those who are not determined to gain knowledge, develop a strategy and show patience. These are important factors that shape the career of a forex trader. Beginner would certainly make mistakes. However, what matters is the ability to avoid the same mistakes again. An individual who cannot put efforts in that direction should avoid trading in the forex market.

 

[Daisy]

Even though no body is barred officially from trading in the forex market, still, as per professionals forex trading is not suitable to those who are not determined to gain knowledge, develop a strategy and show patience. These are important factors that shape the career of a forex trader. Beginner would certainly make mistakes. However, what matters is the ability to avoid the same mistakes again. An individual who cannot put efforts in that direction should avoid trading in the forex market.

Yes, you're right about that. Forex is not for those who dislike learning, and staying disciplined while they trade. Forex is also not for those who are way too hasty in their decisions or need money desperately either as both can cause them to go nuts if they don't make money. The next thing you know they are emptying their credit card just to recover their losses. If they do not put in effort, they should not trade either. Forex takes work and its not just easy gambling like red or black.

 

[Pettyeve]

Every body who is having the trading knowledge and knows that he or she is ready to take risks should trade. Those people that cannot trade are are the ones that know they cannot bear risks of losing their money. The people that are mentally sick and the people that are not patient.

 

[sindarin]

A complicated one, i can say a trader who is below 18 years old and also for someone who lack of emotion control. that is all so far if we talk about knowledge, i think we can get those thing as more we trade with demo account, it is so much helpful account for us to learn about forex, like how to open position or set stop loss and take profit, and others.

 

[UMOFX AIR]

People who had less patience and are emotional should avoid forex trading . In this business a lot of planning with patience is required. They ahave to wait for suitable move of market so only cool mind people are good for trading.

 

[kasual]

People who doesn’t understand how to trade properly should not invest in live account. Better take practice and make themselves knowledgeable and experienced first. Forex business risky and difficult, not all people able to bear with such conditions. If people don’t accept the fact that loss is part of the business, surely they’ll quit from this business very quick.

 

[Decub]

A trader who has that revenge attitude to things shouldn't trade. Forex can lead a trader to serial losses if he doesn't control his anxiety. The more anxious he is,the more he would want to recover his losses when he loses. Those kind of traders would always run into losses.

 

[tray]

If you are very sure that you can not learn and you wont be able to learn forex trading very well then forex is not for you because if that is been then you nothing except loss untill you adjust your feeling towards learning and understanding how the market work

 

[Bonyi]

if you cannot control your emotion and be patient then forex is not for you. if you are not ready to study and learn, then forex is not for you.

 

[sindarin]

if you cannot control your emotion and be patient then forex is not for you. if you are not ready to study and learn, then forex is not for you.

We can train something like this by keep trading or open a position in real or demo account, so i thin the one who should not trade is the people who think that forex is an rich quick business and don't have will to learn more about forex and easily giving up

 

[Decub]

A mentally derailed shouldn't trade in Forex. The business is not really meant for those kind of traders who do not have the qualities to withstand stress and adverse economic conditions when it comes to their expectations. This might lead them to some medical problems.

 

[sindarin]

As far as i know someone who doesn't trade or shouldn't trade to be exact is someone who cannot trade well or someone who cannot controlling emotion well. As long as they cannot do that it would be better for them not trade because withstanding stress could be painful.

 

[sininfinity]

A person who can not develop a profitable strategy or can't follow a profitable one and suffers losses, he or she should not trade forex. there is a chance that he or she will loose most of the time.

 

[sindarin]

Well chance of losing money is actually exist. A trader who does not have strategy for sure will lose their money but if you have you will earn better. The one who shouldn't trade in forex actually trader who is easily to quite, because it means they cannot take risk.

 

[gabanda]

A person who can not develop a profitable strategy or can't follow a profitable one and suffers losses, he or she should not trade forex. there is a chance that he or she will loose most of the time.

trader emotions are strongly advised to make trades because emotions will only bring harm to our trading, it is why we need to be able to control your emotions so well that will provide maximum results for our trading

 

[sininfinity]

trader emotions are strongly advised to make trades because emotions will only bring harm to our trading, it is why we need to be able to control your emotions so well that will provide maximum results for our trading

It has been advised for a trader not to take emotional decisions. But no matter what emotions will come in between trading. So a trader has to be able to keep that aside and go on with trading.