1. It takes money to make money
You certainly CAN start trading with just a little money. And bad traders can create large accounts that can easily become small accounts.
But trade is not a hobby. This is business. And like most businesses, capital is needed to obtain a large amount of profit. Don't expect to make hundreds of dollars per week with an account of only $ 50.
2. You must be at the right time
If you are serious about developing your skills and confidence in trading, you must trade when the market gives you the greatest opportunity. For most traders, this usually means trading London and New York sessions.
3. You will often make many mistakes
Because there is not a single system that can remain profitable through ALL trading conditions, even a mechanized system that has been tested must have made a mistake. Instead of focusing on winning, focus on learning the art of "feeling" the market.
4. There is no holy grail in trading
There is no "holy grail," or an indicator, method, strategy, or system that will generate forex trading profits of 100%. The key is controlling your risk. Because you can't eliminate it, all you can do is control it with the right risk management.
5. Trade is NOT for everyone.
There are many reasons why at least 95% of new traders fail.
For one thing, TIME, EFFORTS, and much PATIENCE is needed to continue to be consistently profitable. Those who can't or don't want to give all three are likely to find themselves between 95% before this year ends.
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