First, let’s be clear – Admiral Markets is not a market for everyone. Moreover, few investors can meet it! Admiral Markets on all sides encourage investors to open an account, but is it worth it? Admiral Markets offers amazing trading opportunities. We have described all its advantages in the article below. However, market liquidity, 24-hour trading, low transaction costs, advanced trading platforms or the ability to play on the ups and downs are not all the advantages of the Admiral Markets. So what are its disadvantages, and why should novice investors be cautious?
Is it worth trading via Admiral Markets? Myths!
All Admiral Markets brokers and many websites devoted to this subject bombard you with banners and mailings showing you that “Tomek made 1421 Euro in 30 minutes” using the free e-book. Suppose you are not sufficiently resistant to this type of advertising. In that case, you will be tempted to open a trading account with a selected broker and deposit a few hundred for a good start with a view to quickly multiplying your capital. But, unfortunately, in 99.9% of such cases, you will not only promptly lose the first money you deposit, but also a lot more, hoping to “get back”. If you are interested in Admiral Markets so you can check Top 5 Brokers for 2021 for more information.
Is admiral markets addictive?
Continue the previous point – you can get addicted to Admiral Markets trading very quickly. God forbid you will earn a nice sum on your first trades as a novice! Then you can think how easy it is to generate meaningful profits just by clicking the mouse. And then you start to lose more and more, and there is no end in sight. And every time you reset your trading account, you deposit even more and hope to win back. Because you were just unlucky before, right? If you also have a credit card, you will face years of stress related to debt settlement instead of a spectacular increase in capital.
Many months of study, practice and humility
There is no such thing as easy money. And certainly not in the Admiral Markets. You have to learn a trade and then polish your skills daily for many months. It’s like going to the gym – to be an athlete; you need to exercise regularly, adjust your diet and never skip training. So if you want to be a bodybuilder in one day when you are a skinny kid, think twice. Are your expectations realistic? Definitely not.
It is the same in the Admiral Markets. You won’t be successful in a day or two. We’ll be brutally honest with you – chances are you won’t get there at all! Most FX traders lose and leave the market with their heads down. Have you thought about what is so special about you that you will be better than the others? Or maybe you believe wishfully, and the market will severely verify your expectations? Our advice – approach the market with great humility. Learn from losing positions and turn mistakes into success. Only then will you become a better trader.
The Golden Grail does not exist.
Our Polish mentality still has the guiding principle: “how to earn money, not to earn money”. As a result, we spend a lot of time looking for and checking ready-made and preferably fully automated solutions. We could effectively multiply our money for many years without lifting a finger. Unfortunately, this leads to frustration due to the lost funds (both those on the trading account and those spent on buying ready-made EAs) and wasted time (which we could spend on learning how to trade independently).
Admiral Markets is not for everyone? Right
Admiral Markets trading is definitely not for the faint-hearted. Keeping losing positions leads to churning over the chart and “cheering the price”,, neurosis and … resetting the bill. The psychology of trading can be learned, but few traders attach importance to it. Instead, they prefer to focus on polishing the system and strategy. Unfortunately, even the most polished Admiral Markets strategy will not work if the trader’s psyche negatively impacts.
The dark side of Admiral Markets brokers
Fighting the market is not enough. The technical side is also the risk of losing capital (or, more adequately, not recovering the money paid in). In many cases, an Admiral Markets broker on the other side of our market activities may be dissatisfied with our (profitable) playstyle and start slowing down trade execution and cancel the generated profits. We can get the total from such a broker very hard, even if we have learned how to trade. There have also been many instances when an Admiral Markets broker has become insolvent or collapsed unexpectedly. And with the broker, clients’ money also disappeared.
Why you shouldn’t trade Admiral Markets – summary
The Admiral Markets can and does give many opportunities to earn, but it is definitely not “easy money”. There are many pitfalls for the trader, and in most cases, he will end up financially poorly, and maybe even mentally. The statistics presented by Admiral Markets brokers are inevitable – the vast majority of investors lose money in this market! Will you be in the group of earning traders? It is entirely up to you! First of all, you need to be aware of the benefits and risks of Admiral Markets trading.
Moreover, you have a long way to go – ups and downs, gains and losses. Testing strategies and systems. We keep our fingers crossed for you to succeed. But remember – never rest on your laurels because the biggest losses come after a series of profitable trades!
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