Life would be a lot easier if everybody would conform to rules. If everyone becomes a law abider then, perhaps, there will always be peace and happiness.
In the same way, if there are rules printed in black and white involving forex trading then everybody wins. The sad truth, however, is there are no clear cut rules to forex trading. The forex market, in fact, operates in an unstructured environment, thus succeeding in forex currency trading becomes an obstacle for most people. If truth be told, only 5% actually succeed as a forex trader.
There are definitely downsides to operating in an unstructured environment as forex. For one, you have to be responsible for your actions and this is quite impossible especially if you are already used to having somebody else to blame if things go wrong.
Moreover, there are no standard rules to follow in forex trading. Since rules are important in any undertaking, you must come up with your own -- and stick to them at all cost. One possible reason why some traders fail is because they do not follow their own rules. They get frustrated easily when things look bad and they forget that there are rules they need to abide by.
One other thing you must understand trading forex, it is not your own effort that matters but to make the right decisions that count the most. You can work for 16 hours a day and that will amount to nothing if you make one wrong move. In forex trading, too, you have to be emotionally detached. You may find this difficult to do considering that man, by nature, is a social being. However, in forex currency trading, you have to be able to make your own decisions and not be influenced by the dictates of society.
If you are able to overcome these obstacles, you will most likely find success trading in the foreign exchange market.
Automated forex software help to avoid the pitfalls while trading forex. These forex trading systems are specifically made to analyze technical data and give forex signals when to buy and sell. Since these forex robots don't involve human emotions, they help for more profitable trading in the forex market.