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The addictive nature of FX trading is one of the most under-discussed topics among retail traders. The reasons for the negligence are self-evident.
Brokers want that traders trade as frequently as possible since it boosts their revenue. As a result, there is a monetary incentive not to bring it up. For the dishonest broker, FX addiction is just another way to exploit the gullible retail trader. Retail traders, on the other hand, refuse to admit what they already know to be true: FX trading consumes much too much time. Particularly because a breakthrough is just around the corner.
The first thing to keep in mind is that FX trading is addicting. FX trading may take up a lot of our time and attention. The difference is that for most people, FX trading does not immediately set off warning bells as alcohol and narcotics do. The allure of FX trading is strong, but it is not immediately apparent.
Trading offers, working for yourself, working remotely from any place with an internet connection, financial independence, and the possibility to make large sums of money are all possibilities.
If you are concerned about your market position when you should be concerned about your friends and family, you need to ask yourself some tough questions. Simply because you may trade from anywhere at any time does not mean you should. If you can’t get away from the markets to spend time with them around the holidays, it’s a definite clue that something is wrong.
Could you ask your relatives what they think of your trading? Maybe they’ll respond, “Yes, you may trade, but can you do it while we’re in bed or after we’ve gone to sleep?” You may discover that they have strong feelings about whether you should deal or not. That may help you make a clearer judgment for yourself, and it may also help you create restrictions or parameters for your trading during normal business hours. At the very least, the lines of communication are open, and accountability is sought rather than evaded.
You don’t have to be involved in the financial markets for long to see that they have an oddly absorbing effect on you, drawing you in and swallowing your thoughts. This is never more true than when you are engaged in a deal. Trading intraday while doing a normal job is not something you should try. It will cause you to be distracted from your normal job, your family, or both.
Listening to people who are thinking about the same subject as you may aid you in your thoughts.
People have lost a lot of money as a result of FX trading. What is meaningful varies greatly amongst persons. Some people can lose £50,000 in an afternoon with no repercussions to their money. Others can lose £10K in a year, which is a catastrophe. So, what matters here is whether or not you have lost a large quantity of money. Has it affected your relationships? Have you lost a spouse or partner as a result of it? Friendships, sleep, a spouse, a house, and one’s health have all been lost. It’s alarming to realize that FX trading might have some of the same consequences.
Do Something about it.
It will cause you to become distracted from your normal job, your family, or both.
Listening to people who are thinking about the same problem as you may aid your thoughts.
People have lost a lot of money because of FX trading. What is significant varies from person to person. Some people can lose £50,000 in an afternoon and it isn’t a huge problem for them or their money. Others can lose £10K in a year, which is a tragedy. So, what matters here is whether or not you lost a considerable sum of money. Has it had an influence on your relationships? Have you lost a spouse or a partner as a result of it? Loss of friends, sleep, spouse, house, and health. It is disheartening to realize that FX trading might have some of the same consequences.
Having specialists handle your trading account, such as traders at Edge-Forex, may assist reduce your mental stress and potential addiction. More importantly, you may use our trade signals to avoid getting sidetracked by the news and instead focus on what you truly require. This is simply a friendly reminder that Forex trading is a marathon, not a sprint.