Do you have friends, relatives, or people you know who trade the forex market and profit from it but when you ask them their real method of trading such as entry, exit, and strategy they always avoid and try to change the subject to another subject or even lie to you about their method? If yes then they might be hiding their precious gem which is their source of "ka-ching". However, do not judge them that they are stingy people because there are some reasons why they did that which you could see below here.
They Have Invested Their Time To Learn How To Trade The Forex Market
I guess this first point is clear enough about why they do not want to share how to trade the forex market. The analogy is simple enough, it is like when you have a restaurant business that soaring up continuously and suddenly some people ask you about "what is your crucial strategy?" or "what is your secret recipe?". You may answer it but I assure you that you will not answer your real crucial strategy or secret recipe and only share what you need to share. Same as forex, if there are people who suddenly ask your real method of trading, you will not share it as it can lose its edge and only share what you need to share.
Hurtful Process In Which They Have Lost Much Money During Their Process Of Learning
Just like all learning processes, forex trading is the same. First, you learn, second, you implement what you have learned, the third is the result whether it is success or failure, the last, which is the most important point is to evaluate the result in which if you succeed you will improve the method to have a better result and if you meet with failure you will find what went wrong that you can fix to have the result that you want. The problem is when you face failure that costs you much money to find the right pattern for you to trade the forex market and this is why professional forex traders do not want to share all the reasons why they take a long or short position for a specific currency.
Irritating Trial And Error In Creating The Method That Suits Them
The trial and error process is like when you first cook the food you have never cooked before and you know that your cooking method does not suit your personality, so the taste of the food does not meet your expectation. Well, this can be solved by trying one method to another method plus the time that you spend to meet your expectation, for example, you might want to change the equipment and use that equipment to serve the food which eventually changes the taste of your food. The previous analogy is the same when you trade the forex market where you have to find the method that suits your personality because person A's method may not work for person B's method, for example, you might want to change the indicator from Moving Average to Ichimoku Cloud if you are comfortable to see the second indicator than the first indicator.
Trading The Forex Market Is Hard
I know that some of you may have been lured into the forex market because of too good to be true marketing regarding forex traders such as fancy cars and the luxurious lifestyle of forex traders that you see in some advertisements. Well, I have to tell you the truth, that kind of marketing is lying just like a virtual world in social media and a real world that you are currently living in and the requirements to trade the forex is that you have to master the three pillars, which is, Money Management, Psychology, and Analysis. Aside from that, the forex market is always changing every day so what you see today may become different tomorrow. This means you have to continuously research the forex market in which not many people want to do it.
Conclusion
The conclusion is clear enough as the main point is that professional forex traders have spent their precious time, learning the forex market behavior. The learning process itself is varied, it can take up more or less than 3 years. Now you know the reasons why they do not want to share their real method as it is like you are asking a restaurant about their secret recipe which can lose its edge if you share it and the restaurant may not have many visitors like the image you can see at the top of this page. So, if someone offers to teach you how to trade the forex market it may be he/she has "a hidden motive" or if he/she is a good person, then, it may be a good starter for you but do remember, that person has a high chance not to share their real method of trading the forex market and only share what he/she needs to share from the basic to intermediate level.
Written by Andre I.
Reference
Forex Jed's Original Content