When it comes to foreign exchange, many people's first reaction is to make money. Many speculators enter the foreign exchange market with enthusiasm, hoping that one day they will be filled with gold and return victorious. However, the market is like a woman's heart, unable to see through or guess, and no one can guarantee that they will not become the next poor person abandoned by the market. So, what kind of people are not favored by the market?

1、 People who don't know what they want

In the foreign exchange market, one must first find their own position, then set their own goals, and finally, what methods they want to use to achieve this goal. Many traders don't know what level of profit they can hold, so they want to try any level of market. If they make a profit, they want to hold on for a while longer, but if they lose money, they don't know when to cut it off. This type of person not only doesn't make a profit but also ends up in a mess.

2、 People who make the same mistake again and again

Foreign exchange trading is a trial and error process that everyone knows, but there are costs to trial and error, which is more intuitive and obvious in the foreign exchange market. When you make a mistake during trading, you will immediately receive feedback from the market. As the saying goes, 'smirk'. When you make such a mistake, you must firmly remember it and let yourself not make it again in order to reduce the process of trial and error and start making profits as soon as possible. I have heard many foreign exchange tycoons use stricter punishment to make sure they remember this mistake and not make it again, so those who don't have a long memory will be quickly eliminated by the market.

3、 People who go to battle without sharpening their guns and have poor financial management

In the investment process, fund management is one of the most important parts, which is also a required course for every trader who wants to succeed. Many people who have seen the market trend correctly have also made significant profits in their trading accounts, but in the end, they did not make any money or even took significant profits. The reason for this must be closely related to fund management. Of course, you may say that many reasons such as entry and exit technology, stop loss control, psychological factors, etc. can all be the reasons for losses, but the biggest problem must still be fund management and risk control. If you earn a little sweetness but lose all your capital, then your chances of success in trading are still at a loss.

Some immature traders often focus solely on market analysis, simply considering it as the key to defeating the market and obtaining windfall profits. However, the foreign exchange market is full of risks and there is no 100% chance of success. Investors must strive to break free from human greed. If they do not exceed their abilities and blindly invest all their money and hope, it will only lead to heavy losses and bloody lessons.

4、 Devil's upper body, impulsive trader

There are always some traders whose trading behavior is highly arbitrary and blind. Listening to the wind is like rain, rather than considering countermeasures and planning trading based on market conditions, often integrating "feelings" and "hearts" throughout the trading process. Upon hearing any news, they rushed into the market, blinded by potential profits and ignoring potential risks.

Impulsive traders are self centered and have subjective factors that affect their judgment of market conditions. They are easily detached from the market and do not have a clear understanding and consideration of the results and losses after trading. In addition, impulsive traders are easily disturbed by emotional factors and cannot maintain a stable trading mindset. With the continuous development and changes of market conditions, traders need to consider more and more aspects. In such a complex market, if traders do not prepare well in advance and do not set a stop loss position, their speculative career is likely to end in failure.

5、 Blameless person

Many traders, after making profits in the market, start to be overjoyed and forget about it, believing that they have a clever plan; When encountering losses in trading, one can't sleep and eat well, blaming others for blaming others and not reflecting on their own problems. Such traders often have an immature mindset, cannot see the laws of the market, cannot clearly see their own problems, and will not actively seek solutions. They will only blindly attribute the reasons for failure to the market, management, environment, etc. They also do not have the psychological potential to achieve long-term success.

The sense of responsibility is something that everyone should possess, not only in daily life, but also in foreign exchange trading. Whether it's profit or loss, you need to take responsibility for every action and decision you make. Only in this way can you become a consistent winner in the market. If you don't achieve this, it will be difficult to achieve significant results.

6、 People who are eager for quick success and instant benefits, and have endless desires

People who have experienced the ups and downs of the foreign exchange market have a deep understanding of "how many things have happened in ancient and modern times, all in laughter". There are many futures market opportunities, but investors also place more orders. People who enter the foreign exchange market all have beautiful wishes, and there are very few people who can make money, especially those who make big money. The magic of the foreign exchange market lies in the constant emergence of opportunities of all sizes, and every foreign exchange person has had the experience of making money, However, there are very few people who are able to maintain profits, and the important reason is that they are not doing enough in waiting for this course. The foreign exchange market always exists, and only by maintaining a calm and risk-free mentality can they enter the only way to success. Excessive desire drives investors to constantly go from one failure to another in a vicious cycle, which is more terrifying than greed and fear.

7、 People with only plans and no actions

The Art of War by Sun Tzu states: 'Soldiers are the great events of a country, the land of life and death, and the path of survival and death, which cannot be ignored.'. In ancient times, ancestors knew the importance of studying and planning in advance, and in the current foreign exchange market, pre market trading plans are also very important. Novice traders may ask, what is the trading plan? In fact, it is a general operational guideline formulated before trading, mainly including analysis of market conditions, determination of operating targets, fund management, setting of target points, stop loss positions, etc. Based on the plan made, operations can be carried out with some basis during trading, which is relatively stable and does not cause chaos when the market changes.

Of course, 'plan your trades, trade your plans' is something that is easy to say but difficult to do. In practical trading, psychological factors are a great challenge. Greed and fear can mask rational thinking, while luck can turn profits into losses and losses into short positions. Only those who have overcome human greed and can truly see money as a chip in the game, rather than a symbol of material significance, can become mature traders. Since we have formulated a trading plan, we must strictly implement it. Especially in the foreign exchange market, the presence of leverage can "amplify" errors, making stop loss even more important.

Opportunities are always reserved for those who are prepared, and so is the foreign exchange market. Traders need to constantly reflect and grow in practical trading, be prepared, and wait for opportunities to come.