Knowing forex myths and facts is an obligation for every trader to better understand the world of forex. For some people who don't understand this business, forex trading is often considered a business that can provide big profits in a relatively short time.

Not a few people think that forex trading is about luck and chance, sometimes profit and sometimes loss, much like gambling. In fact, not all of these assumptions are true and are just a myth that many people believe in, especially in Indonesia. 

So, you need to understand and distinguish between forex myths and facts, which is one of the types of transactions on the largest financial market in the world.

Forex Trading is a Gamble; Forex Myths or Facts

The assumption that forex trading is the same as gambling is one of the myths that have developed in society, especially in Indonesia. When viewed from a speculative aspect, gambling and forex trading are indeed similar because the capital used can run out in the blink of an eye.

However, forex trading has another aspect that distinguishes it from gambling activities, which in fact only rely on guesswork and chance alone. In forex, strategies and analyzes of price movements that occur in the forex market are real around the world.

With the strategy and analysis aspects of forex trading that you learn from the best forex broker, it is possible for everyone, including you who will enter the world of forex trading, to be able to generate maximum profit from each transaction.

In fact, the aspect of capital and risk management is one of the main factors determining a person's success in getting the maximum benefit from his forex trading activities. 

So, the risk of being eroded or running out of capital can be minimized as small as possible according to your wishes.

The Timing and the Odds are Hard to Guess

This statement mostly appears and is found in a number of certain people or parties who have their own interests and are targeting novice traders who can’t differ between forex myths and facts. 

The aim is none other than to sell products related to the target's forex trading activities. Time is indeed important in forex trading considering that every opportunity that exists in forex trading does not always appear at the same time as before.

So that currently, products that are sold at a certain price are starting to appear as a solution to existing time constraints. 

For example, an automatic trading robot system that can carry out trading transactions automatically without worrying about missing out on profit opportunities and moments.

Even so, there is nothing wrong if you want to use a robot for forex trading. But with a note that you understand how to use the robot and most importantly you know and are ready for the risks.

The Forex Market is Unpredictable

While the fluctuating movements in the forex market and other financial markets seem to most people at first glance like something that moves randomly and you can't see what the pattern looks like.

In fact, movements that occur in the exchange rate of a currency pair often show certain behavior and patterns which then become a price trend.

The existence of this price trend is one of the important factors that forex traders always use as a reference in conducting technical analysis to find out the direction of further price movements.

The goal is of course to determine where he should open and close positions to benefit from the transactions he will do.

There are still many myths that you can find in the forex world. Therefore, make sure you study forex carefully with the Didimax forex broker.

As a beginner trader, don't get caught up in the forex myths circulating. Learn everything including forex myths and facts so that you can become a reliable trader.