Asset Gates reviews : what should every trader know about currency exchange market in 201907 / November / 2019
The forex market exists for more than 50 years. However, despite its long history, about 80% of traders lose their money. Why this still happens, explain the experts in Asset Gates. Forex is a vast global financial arena; its rules are studied and described. There are three main aspects of trading: legislative regulations for market, traders, brokers – including Asset Gates broker – technical details, and psychological elements. It can sound weird, but psychology significantly affects the currency trading.
Most newcomers come to the currency market for quick money. They believe it is possible to bring several hundred dollars to the market, and in a couple of weeks, manage millions. Alas, nowadays this is impossible. Any claim it is possible is a scam. Asset Gates assures the trader can double or triple the initial deposit, depending on the timeframe. In general, a good income in the forex market starts at 5% per month.
To understand the income calculations, you need to go deeper into the trading. Let's say a trader enters the market with a minimum deposit of $1000. After a successful week, the trader already enjoys $2000 at the account. However, you should minus the initial deposit, as well as the commission of the Assetgates broker. The trader also cannot easily withdraw the rest of the money: the next week may occur less successful, and it will be necessary to replenish the deposit account. The short-sighted trader feels cheated and claims that Asset Gates scam.
Thus, profit is usually proportional to risk. Some traders open positions along with the trend in a calm market. Their profit is enough to pay the spreads and commissions of Assetgates broker; only a small percentage comes to the trader. Another group of traders prefers high volatility. They open positions for large amounts. The risk of losing the deposit in this way is quite high, but the potential profit is more significant.
Most of the traders build their trading strategies between these two extremes of the forex. Assetgates writes that very low-risk level is unprofitable and high amounts are too risky, so every trader looks for a middle ground. As it goes in any business, the most successful players build a clear financial strategy and strictly follow it, controlling their emotions.
Two of the most common mistakes of a trader are the inability to determine an acceptable risk threshold and failure to keep emotions under control, for example, avoid declaring Asset Gates scam for every failed transaction. The problem is that most people prefer to be guided by their feelings or rely on their minds. For example, they can believe the decision to hold an open position outweighs the benefits of a long-term strategy. The result is a loss of funds, disappointment, and the claims Asset Gates scam.
In practice, it may look like this: the trader has an open position and waits for the upward movement of the chosen currency pair. But the trend is going down. With every minute, the loss increases. If the trader does not know the stop loss level, then the emotions will prevail. The trader hopes that the trend is about to unfold; the loss will turn into profit. This is a direct path to a lost deposit.
Another common mistake is excessive confidence in trading signals and automated trading systems. The problem is that there are no criteria to evaluate the quality of its work, besides the trader's own experience. According to Asset Gates broker, reviews can also be paid and unfair. Therefore, buying an indicator or a trading robot, you lose money twice. First, when you buy a low-quality program. Second, when the chaotic deals made by the poorly-written trading robot result in the bankruptcy.
A currency trading, like any other business, rarely does without errors and losses. It is important to remember this and act in advance. If you already work with a real account, consider your financial strategy. Decide what business goals you want to achieve and determine the time frame. Critically evaluate your current progress. Calculate what time you need to achieve your financial goals with the current dynamics. Think about what you can change: increase or decrease the number of transactions, change the transaction amount, just to understand where you are moving. Your trading schedule should be clear and understandable for you at the first turn.
Choose a reliable broker. It is essential that the broker already has got a reputation in the market, so study the reviews. Asset Gates Broker also recommends comparing the trading terms and conditions to select the brokerage that fits you the best. New brokerage companies offer various types of trading accounts for different customers. You can open the deposit account for different currencies, smaller or larger amounts of money, whatever you want. The best brokerages take in attention the religious beliefs of the client, like an Islamic account with Asset Gates broker.
Improve your account management skills and start learning to trade. Learn the theory, the basic terms of the forex - Asset Gates offers a special glossary for this - learn how to use the news. Find online lessons by experienced traders and try to benefit from them. There is a massive amount of opportunities to get an education online, and forex is no exception. Knowledge will help you make the right decisions at the right time.
Do not overload your trading platform with the indicators. Each trader experiences a period of keen interest and active experiments with particular indicators for forex. Assetgates believes that most of them can be ignored. Download only the basic graphs to see only the necessary information. The less information is on the screen, the better you can make an informed decision. As you can see, these tips are quite simple, and it's easy to follow them.