The 4 Worst Excuses to NOT Start Trading

If you want something badly, you gotta grab the bull by the horns and make things happen. In this post, I’ll share with you the 4 worst excuses that I have heard to NOT start trading.

No time

A common misconception when it comes to forex trading is that it requires you to spend every waking moment in front of the computer. Even though some traders actually do this, it’s not the only way to trade.

Swing and position trading are two methods of trading that you can do. If you have a full-time 8-to-5 job, for instance, you can analyze the markets and trade forex after dinner. Get home at 6 pm, give an hour or two for dinner, analyze the market and longer-term timeframes (4-hour, daily, weekly, monthly) charts from 8 pm to 10 pm, set limit orders, and then head to sleep.

It won’t be easy, but it is doable. What is needed, of course, is discipline.

No money

The great thing about retail forex trading is that it’s so easy to create demo accounts. It won’t even take an hour or cost you a single cent.

Now, if you’re not into demo dollars, you can even up a live account for as little as $25 with no minimum position size. You can trade 1 unit if you wanted to. Of course, starting with that kind of capital won’t make you a millionaire, but it can get you started in forex trading and quickly feel the strong psychological effects of trading live.

The risk is too great

Forex trading is truly risky, especially without education and practice. However, what many people fail or refuse to understand is that it isn’t riskier than just about any business venture.

I have a friend who’s heavily into the importing business. She invests as much as tens of thousands per full container load that she imports with absolutely ZERO guarantee that she can sell the product to her clients.

On top of that, exchange rate fluctuations also make her vulnerable to losses. Even if there’s ample demand for the goods she imports, she could still lose money if exchange rates go against her.

Risk is present in everything we do; unforeseen events and accidents can happen at any time. Accept it and manage it like with all other endeavors in your life.

Trading is too complicated

Out of all excuses I’ve heard, this one is probably the silliest of them all.
The Internet has made it so much easier to acquire knowledge than ever before.

If you have the time to stalk your crush on Facebook and find out where he or she likes to go out for lunch, then you definitely have the time to catch up on all that there is to know about forex trading for that day.

To make it even sweeter, you don’t need to pay a cent to get the education or access forex news and tools! There’s so much free, quality stuff out there!

For instance, you can learn everything you need to learn by just going through our School of Pipsology. For market news, Freshpips.com offers you the latest updates on the markets. If you’re looking for charting software, you can download MetaTrader 4 for free. For trade journaling, you can just sign up for a MeetPips.com account.

I understand that forex trading is still a relatively new concept that’s daunting to most people. But if you’re really interested in it, there’s no excuse not to give it a try. It offers such an overwhelming potential for success!

“Ninety-nine percent of failures come from people who have the habit of making excuses.”

- Renowned American Inventor George Carver

  • Valentin

    Thank you ! very motivational for me to get back and keep on going in this forex world, thank you !

  • P

    good read and good stuff !

    • Dr. Pipslow

      Glad you like it. Thanks!

  • Jiggy

    Agree one hundred percent… Everything, including opening of a new business carries a risk. As a brand new trader, I opened a real account very early. Needless to say lost most of it, but, then changed my broker and am now trading small micro lots, until I’m confident. I like to live and learn in real life. Personally, I think learning from demo accounts is like watching a movie, you’re really not ‘into’ it; but then, that’s my opinion. Thanks for this write up.

  • rokasvivas

    Due the temperament that I was born with, my style of trading is Day Trading. I really can not stand in a position for too long. My main excuse could be “No Time” if I suddenly dont trade at the beggining of NY session. Sorry!

  • Rebecca Field

    best thing I’ve read all day.

  • Pagi Embun

    My country ban forex trading for individuals.

  • chris brown

    I constantly hear the excuse –
    “you’ll never make any money from it, its just like horse racing, gambling, and the only winner is the bookie or the broker.”

  • wirabayu06

    thank u for ur lesson Dr. Pipslow.. As ur new student, i will reconsider my plan to open real account. I want to stick 1 month again on demo before walk to the reality… Even i have a job, i’ll try to stick daytrader style but expand little bit more of the time frame by lowering the lots..

    I will work very hard… thank u again Dr. Pipslow ^.^

    • Dr. Pipslow

      Glad to hear that! But remember not to rush things! Take as much time as you need on demo before going live. All the best, Dr. P.

  • ruff2play

    Thank you for your writeup Dr Pipslow.
    I’m one of those procrastinators. Undisciplined, lazy and expect to be a blackbelt trader with a whitebelt mindset. So, I’m now doing the pips school lessons, keeping a journal about my goals and learning, learning, learning. Therefore my excuse is that I will start the demos as I make my way through the pips modules.

  • Pingback: Forex? No, grazie! Quattro scuse per NON fare trading | Opzionebinaria.biz