Understanding the Pandora’s Box in Forex
We know that many of you have been wondering how Pandora box is related to Forex. This is an investment market you would like to trade in to make money. There is no chance that Greek mythology will come into Forex and help you to understand the market. We are not going to relate the Pandora’s Box with your trading, but we are going to use it a metaphor in your career. This article will tell you that humankind has not advanced much and we are very much related to our forefathers. The more we try to become modern; the more we cannot escape from curiosity and we get trapped in our career. Before things get any more poetic, we are going to tell you what this article is all about and how this box can be relate to traders.
History of the Pandora’s Box
We all know what Pandora’s Box was. It was a Greek artifact which was actually a jar, given to Pandora. Thus, this box was called Pandora’s Box. Pandora was the first woman created by Gods and she was very much curious to know what was inside the jar but she did not know that all the evils were in this jar. Unable to resist the temptation, Pandora opened the box and all the evils come but leaving only hope inside the jar when she closed it. We use the phrase ‘opening Pandora’s Box’ in our lives to say that a small action but that has large negative effects. Pandora only wanted to know what was inside the jar and what she got in return were all the evils of the world.
What is the Pandora’s Box in Forex?
You may have understood by now what we want to tell you by giving your idea about Greek mythology. Many traders want to know how they can trade in Forex when they are using different techniques. Some traders often look for a shortcut way to become successful at spread betting. Expert traders in the United Kingdom always says that there is no shortcut to the trading industry. You have to work hard and learn about the technical and fundamental analysis of this market to become a professional trader. If you are not sure how to deal with the dynamic nature of this market open demo account with ETX Capital. We know when the demo accounts are given to the new traders but they are not interested. They are only interested to use their live accounts and they take small actions which have a negative impact on their career. But you need to understand that even the most top class traders in the United Kingdom often demo trade the market to fine tune their spread betting strategies. So it’s imperative you learn the art of trading using the demo account. And most importantly, it will help you if you do not overtrade the market.
If you think you want to know why overtrading cannot bring you money when you see potential in it, you are actually opening the Pandora’s Box of Forex. You will never know how you will get into this idea and you will place many trades as long as you have lost all of your money. There are also other things that doing that can be the same as opening the Pandora’s Box. Do not take risks in spread betting. Only use leverage when you have truly mastered the art of trading. Small action may seem insignificant but they can have a deadly effect on your career. If you open the Pandora’s Box, even the Gods cannot help you. Always remember that your profit shouldn’t be your main concern. You need to stay in the game first to make money. So never take more than a 2-3% risk in any single trade even though you are confident with your trade setup.
