The post-Soviet mentality is not always clear to the person who was born and grew up in a civilized civil society. All the benefits of capitalism, which appeared in Russia and other CIS countries after the fall of the totalitarian regime and the collapse of the USSR, on our soil gave rise to such a hybrid that no Мичурину never dreamt of. Introduced in 1994-95 in Russia access to the FOREX market immediately gave food for new experiments with the mass consciousness.
Stereotype 1. FOREX is a casino game.
Indeed, a leverage 1:100 or 1:200, practiced in many Russian dealing centers, brings the trading in this market to roulette. Such financial leverage used in the West rarely. Although the Russian inhabitant learned by bitter experience, stating that such games to good do fail, but that few people stop and advertising dealing centers sometimes resembles a well-known Maxim: "I верчу, (next place the desired word in the measure of his education) want. There's your hundred rubles for the purchase of "Zhiguli". Favorite game of Alla Pugacheva and Raisa Gorbachev". Many of the newcomers, who decided to "play in the FOREX does not have the slightest idea of what is the mechanism of this "game", what factors caused by changes in currency exchange rates, etc.
Stereotype 2. FOREX is an easy way to enrichment.
Easy ways to enrichment does not happen. Ultimately, we have to work hard even dishonest individuals in their efforts to "earn a living. Not to mention people who have chosen legal business. The quintessence of this opinion I recently heard from one friend. That, obviously, having read the advertisement in the Internet, said: "So, does this mean you ten thousand dollars to put it, AND... NO WORK". Here it is, homespun truth. Sit at home, do nothing and receive your money.
This beautiful fantasy is broken in pieces, when a person really starts to trade. Any type of market activity was accompanied by substantial mental load. As for income, trading with leverage is not particularly stands out for its yield compared with such types of business, such as telecommunication and mobile communication. But the risk reward in full. And trader becomes aware of this risk, only when starting to work with real money.
Stereotype 3. Learn to speculate on financial markets easier.
This stereotype is caused by advertising various preparatory courses, after issuing a cardboard "ksivu" with заковыристой inscription "Currency dealer-the analyst of the international financial market".
The Profession of a trader can be equated to the creative professions. Learn to speculate three months is like learning to play the violin externally or in absentia. There are no clear rules, which are moving rates. Of course, there are markets where the probability of correct prediction is large enough, for example: USD/ RUB, USD/ Euro. But, however, speculation in the financial markets requires not only knowledge of international Economics and Finance, but also the methods of mathematical analysis, neural networks, etc.
Meanwhile, among beginners widespread assertion that technical analysis is a pseudoscience, and everything is decided only knowledge of psychology and experience. Fundamental analysis no attention deserves the shorter... all built on intuition, like a game of roulette. The most interesting thing is that the version of the insolvency of technical analysis is supported by many seemingly qualified specialists.
Stereotype 4. Using ready-made predictions of the analysts speculate, not having special expertise.
Indeed, many dealing centers provide, and often free, forecasts of market FOREX. It is easy to guess, in the advertising purposes. In those rare cases, when the forecast is present fundamental analysis, it has been reduced to an enumeration of the main economic indicators and indices. Technical analysis, as a rule, is rather monotonous. Even on a page with such solid companies as Killney Investments, technical analysis is mainly based on the Fibonacci levels. Whether you can trust really recommendations for the companies interested to traders lose?
Stereotype 5. Intraday trading is the most profitable trading.
Among the Russian currency speculators интрадэй-trade has become much more popular than in the West. It is caused, first of all, dreams of winning the jackpot in the short term. In addition, the lack of funds does not allow Russian investors to put far worthwhile stop-loss, so the medium-and long-term trade extremely difficult. The only way out - интрадэй-Commerce.
The Myth that using intra-day you can earn 100-150 % of the Deposit per day, most likely, was the result of the promulgation of the best results of contest accounts. Someone just very lucky: opened all the money and won. As on a real account may in fact not be so lucky. Consider, on the contest accounts people do not risk with real money, but the perspective to get 300-500 USD is quite real.
The Practice shows that Russian traders often sell the 1-minute bars, not knowing the history of the financial instrument. From the mathematical point of view, intraday trade, for example 5-minute bars, there is an attempt to trade random noise, so is a waste of time. Over time, those who trade noise doomed to defeat.
Although the short-term volatility can not be completely random, преддетерменированный component in them is negligible. Therefore, it is extremely unlikely that often playing on a short span of time the trader can really have a profit for a long time. In addition, research has demonstrated the absence of cycles in intraday data.
Let us discuss from the point of view of common sense. If traders интрадэй, the day wrapped Deposit with a 100 per cent interest yield, the people that put on the line in the dealing center 5000 USD, will be a millionaire in about ten days. Where are these "new Соросы"? Something about them not to hear.
Stereotype 6. Mechanical trading system is the ultimate truth.
This stereotype is only beginning to take root in Russian soil, since the mechanical trading systems have proliferated recently. Full confidence in the correctness of the system, especially if it is argued that it is built at an ultramodern technologies of neural networks, leads to a hypnotic state: the trader as if hypnotized looking at the rapid combustion of his Deposit in when the system displays one, and Soros or Buffett do quite another. Market owes nothing to anybody. Huge financial resources concentrated in the hands of funds and major private investors, and they literally sneeze, all trading system immediately.
the Role of advertising in the formation of the myth about FOREX.
The main theme of the advertising dealing centers is reduced to the thesis that in FOREX you can earn money the easy way. To promote this thesis to the masses as an advertising means are used, mainly, pseudo-scientific texts on the website of the dealing center. Often they are reduced to a kind of "secrets of the famous traders", which are somewhat reminiscent of the aphorisms of Kozma prutkov:
"The Trend ends when it becomes visible."
"Trend can not predict it go in."
But the main part of advertising texts is an introductory course for those who came to this website quite by accident. Before the 1998 crisis, FOREX in Russia was a market for the institutional investors, as there were free money. Investments on the FOREX been doing all and Sundry, respectively, dealers not work without sitting. Now, because, as one of the Premier of the next government, "just a good Yes girl ends," the market is reoriented to a private investor (investor-trader). Banking dealer there is no need to teach speculation, it's more he can teach staff dealing center. But the new shots are necessary. Moreover, for such staff to account for their loss, the dealing center could exist.
Many experts involuntarily counter markets FOREX and STOCKS each other. In Russia, where, as mentioned above, FOREX historically formed as a private investor market, this opposition is expressed more sharply. Indeed, even abroad, where trade using leverage has civilized appearance, speculators on the market FOREX, as a rule, do not overlook the stock market, professional participants of stock market, in turn, face the FOREX is extremely rare. In Russia such a "division of labour" is exacerbated by the fact that the practice of private investment in shares ceased to exist after a series of bankruptcies of their issuers in 1994-95 Moreover, existing before the collapse of financial pyramids layer of individual investors-rentiers was so люмпенизированна that trade using leverage, short-term speculation, etc. could not be and speeches.
If you take into account all of the above, it becomes clear why the stock market in Russia was performed by professionals only, governors capitals of large institutional investors. The FOREX market even those of the same институционалов (banks, brokerage firms and etc.) formed a fundamentally different attitude. If shares in the financial institution needs not only to higher economic education and the certificate of the FCSM, which ordinary mortals receive, mainly, for a fee, the applicant for the position of a trader in the FOREX market are often not even education. Usually admission on a full-time position of a trader in the FOREX market are based on the results of the qualifying trades.
Another important detail, resulting from the above factors, the attitude of many of the FOREX trader to his work as a hobby. If those who work in the stock market professionals, and can't be, among traders in the FOREX dominated by Amateurs. Unfortunately, people often come to this lesson accidentally. As a rule, those who become traders, peck on the ad, serving training and employment on a new speciality "analyst of the international financial market". Further, in most cases, the events developed according to the following scenario: on the first stage people start to think they are quite capable of earning foreign exchange dealing big money; at the second stage, he begins to real trading, initially winning, and then starts to lose; at the third stage, he departs from this type of activity and returns to former businesses. Often currency dealing remains as a hobby, sometimes earning an income. However, according to statistics, 95% of the graduates of such courses is eliminated after losing the first Deposit. They never return to this activity, but brokers to their incomes.
FOREX market Development in Russia happened spontaneously, much to the detriment of the establishment of other financial and commodity markets. The reasons of this phenomenon is rooted in the fact that FOREX brings owners dealing centers more income than dealing on the stock market, where the leverage on the law cannot be more than 1:2. Leverage used in the FOREX market, sometimes even experienced traders to negative difference of profits and losses, undoubtedly, enabling dealing centers receive stable income. As we see, PR dealing centers is aimed, mainly, to prove the potential client incredible profitability of operations on FOREX. It is worth remembering here the quote from the book by David Спэньера "What is going on in the mind of the player", "Son, how much would you have seen, what would not learned, always remember one thing: there's a guy that will show you a new нераспечатанную deck of cards and offer to bet on that, it POPs up a Jack of spades and pour you into the ear of beer. Son, don't take the bet, otherwise you will find yourself with a full ear of beer".
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