---

Forex multi-account manager Z-X-N
Accepts global forex account operation, investment, and trading
Assists family office investment and autonomous management

---

---

In the two-way trading ecosystem of the forex market, traders with different profit levels often exhibit distinct behavioral tendencies. These differences stem from both psychological cognition and emotional drivers, as well as real-world considerations of risk and benefit. A typical example is that forex traders experiencing losses often choose to remain silent, rarely proactively disclosing their trading results and experiences.

---

From a psychological perspective, silence during a losing trade is essentially a self-protection mechanism. For most traders, a forex loss not only means a loss of capital but can also trigger feelings of self-denial, anxiety, and even frustration. Acknowledging a loss is tantamount to confronting shortcomings in analytical judgment, risk control, and mental management. This "exposing shortcomings" can create intense psychological pressure. Therefore, most traders who experience losses choose silence to avoid external judgment and criticism, while also avoiding the further amplification of negative emotions by sharing their losses. Furthermore, the zero-sum nature of forex trading creates an indirect correlation between losses and the gains of others. Losers often avoid highlighting their failures in comparison to winners. This desire to avoid disappointment exacerbates their tendency to remain silent, ultimately leading to a market phenomenon known as "collective silence among losers."
In stark contrast to the silence of losers, forex traders who earn small profits tend to be more vocal, proactively sharing their gains with friends and on social media platforms. The underlying logic behind this behavior is easy to understand: for traders experiencing a first taste of profit or those experiencing long-term, small fluctuations, the "first win" brought by a small profit is a powerful emotional boost. It not only validates the effectiveness of their trading strategies but also overcomes their fear of the market. This sense of accomplishment and novelty fuels a strong desire to share, hoping to bolster their confidence through external recognition. From a human perspective, this tendency to "share small profits" perfectly aligns with the social psychology of ordinary people. After all, in the early stages of profitability, each small profit is a "breakthrough experience," making it difficult to resist the urge to share. However, as profits increase in frequency and their scale stabilizes, this desire to share gradually wanes. When profits become the norm, the novelty and sense of accomplishment brought by small profits gradually diminish. Sharing at this point not only fails to generate new emotional value, but may even be seen as "showing off." Therefore, after reaching a certain level of profitability, most traders naturally moderate their sharing behavior and no longer readily disclose small profits.
Even more unique are forex traders who achieve stable and substantial profits. They often choose to "make a fortune in silence," maintaining a low profile and even deliberately avoiding revealing their trading achievements and profit scale. The core driver of this behavioral tendency isn't psychological changes, but rather a deep consideration of real-world risks, the most critical of which is the protection of personal and financial safety. In the real world, "showing off wealth" often carries unpredictable risks. For large, consistently profitable traders, excessively flaunting their wealth can attract unwanted attention and even invite malicious covetousness. At the very least, they risk excessive borrowing from friends and family, or fraudulent attempts by strangers. At worst, they face threats to their personal safety, and in extreme cases, even fatal consequences. This understanding of the risks inherent in displaying wealth has instilled in high-profit traders a deep understanding of the protective power of keeping a low profile. They understand that the core goal of forex trading is long-term, stable wealth accumulation, not the short-term psychological gratification of displaying wealth. Therefore, they actively choose to "make a fortune in silence," insulating themselves from potential safety hazards and ensuring the safety of themselves and their wealth.
Further analysis reveals that this behavioral difference—silence during losses, publicity during small profits, and a low profile during large gains—is essentially the result of traders' balancing the three factors of reward, risk, and psychology at different stages of their trading. The silence of losers is a form of self-protection in a world of negative returns and high psychological risk. The sharing of small winners is an emotional release during a period of positive returns, high psychological returns, and low actual risk. And the low profile of large winners is a prioritization of safety in a world of extremely high returns and sharply increased actual risk. This difference is not unique to the foreign exchange market; similar patterns exist in other financial investment sectors such as stocks and futures, and even in the accumulation of wealth in traditional industries. It profoundly reflects the common choices humans make when faced with profit and risk, and reveals the risk perception and behavioral rationality developed by experienced traders through long-term practice.
From a market perspective, this behavioral difference can also lead to "information bias": the silence of losers and the activeness of small winners facilitates the spread of one-sided information about "easy trading profits." Meanwhile, the low profile of large winners makes it difficult for ordinary traders to perceive the true path to stable profits. This information asymmetry can mislead novice traders into believing that "small profits are easy to achieve and large profits are replicable," leading them to ignore the risks involved in trading and fall into the trap of blind optimism. Therefore, rationally examining trader behavior under different profit conditions and recognizing the real existence of "silent losers" and "low-key big winners" is crucial for novice traders to develop an objective understanding of the market and avoid cognitive biases. Only by understanding the full market picture can they more clearly assess risk and reward in trading and avoid being misled by partial information.
In summary, the behavioral differences among traders in forex trading are the result of multiple factors, encompassing both psychological emotions and cognitive drivers as well as practical safety and risk considerations. The silence of losers, the sharing of small winners, and the low-key nature of big winners together constitute a vivid behavioral landscape in the market. Understanding the logic behind this landscape not only helps traders gain a deeper understanding of the mindset of market participants but also provides a reference for their own trading decisions and risk management. While pursuing profits, they must always maintain a respectful attitude towards the market and its realities.

In the two-way trading landscape of forex investment, the forex market is often viewed as a high-risk, low-return arena.

---

For traders with other investment options, avoiding forex trading may be a wiser decision. Over the past two decades, the use of breakout trading strategies in the forex market has gradually declined, even being abandoned. The core reason is that the trend nature of forex currencies has significantly weakened. Major central banks around the world have either implemented low or even negative interest rates or maintained exchange rates within a narrow range through frequent intervention. This policy environment has significantly reduced currency exchange rate fluctuations, making it difficult for trends to form. Since the bankruptcy of FX Concepts, a global forex fund, fund managers specializing in forex have virtually disappeared, further confirming the lack of a clear trend in forex. This lack of a trend negates the prerequisite for breakout trading strategies. Currently, forex currencies are more prone to consolidation, making sustained trends difficult, making breakout trading strategies less effective.
Currently, short-term forex trading is virtually unpopular, and the global forex investment market is quiet. This is primarily due to a sharp decline in the number of short-term traders. Forex currencies exhibit few clear trends because major central banks worldwide generally implement low or even negative interest rates. Interest rates for major currencies are closely linked to those of the US dollar. This policy environment results in relatively stable currency values ​​and a lack of clear trends, significantly reducing short-term trading opportunities. Currencies tend to fluctuate within narrow ranges, making it difficult for short-term traders to find suitable trading opportunities.
In recent decades, to maintain their trade competitiveness, central banks of major currencies have adopted a competitive devaluation strategy. Low, zero, and even negative interest rates have become the norm. To stabilize exchange rates, central banks are forced to frequently intervene, suppressing currency prices within a relatively narrow range. This intervention has made currency trading a low-risk, low-return, and highly volatile investment. In this market environment, even with a light-weight, long-term strategy, traders still face the realities of greed and fear, two human weaknesses. Overweight positions make it difficult for traders to resist the impact of these two emotions. Therefore, the correct approach for experienced investors is to maintain numerous small positions along the moving average. This strategy can both resist the temptation of greed brought on by unrealized gains during a significant trend extension and withstand the fear of unrealized losses during a significant trend pullback, thereby maintaining a relatively stable mindset and trading rhythm amidst market fluctuations.
Even if forex traders avoid short-term, heavy trading and focus on long-term, light-weight investing, forex investment remains one of the most challenging of all financial investment categories. Frequent central bank intervention makes it difficult for currencies to form clear trends, and even when trends do emerge, central bank intervention tends to smooth them out. Quantitative funds exist in various investment fields, but in the forex investment sector, specialized quantitative trading companies are almost unheard of. This phenomenon demonstrates that forex trading is extremely difficult to profit from.

In the forex market, a common industry phenomenon is that the vast majority of successful traders who achieve long-term, stable profits have taken a self-taught approach.

---

This phenomenon is not accidental; it is the product of the current state of forex trading education, the market policy environment, and the unique characteristics of trading skills. It profoundly reflects the core characteristics of forex trading: practice-oriented and self-exploratory. It also means that if ordinary traders want to excel in this field, they must build core competitiveness through independent learning and practical experience.
From a global perspective, forex investment and trading has yet to establish itself as an independent and systematic discipline. In most university curriculums, it's difficult to find a specific subject titled "Foreign Exchange Investment and Trading." Even when it comes to other financial investment areas like stocks and futures, few schools offer dedicated "investment and trading" majors or courses. This lack of educational resources isn't because investment and trading are unimportant, but rather stems from their highly practical nature. The core competencies of investment and trading include not only theoretical knowledge but also non-standardized skills such as sensitivity to market fluctuations, practical experience in risk management, and the ability to dynamically adjust trading mindsets. These skills are difficult to systematically impart through traditional classroom instruction and must be gradually developed through traders' own experience, trial and error, and reflection in the market. Therefore, whether in forex, stocks, or futures, learning investment and trading knowledge and skills essentially requires traders to actively explore and develop on their own. School-based education primarily provides foundational theoretical support in economics and finance, rather than directly guiding profitable trading methodologies. This fundamentally ensures that self-study is the primary path for traders' growth.
This characteristic is particularly evident when considering the policy environment in the Chinese market. Currently, China still restricts and prohibits domestic foreign exchange margin trading. To date, no domestic foreign exchange margin broker or trading platform has received official regulatory approval. In this policy context, even if domestic universities offer courses in investment and trading, graduates face the reality of difficulty applying their knowledge. Due to a lack of legal trading channels, the trading theories learned in class cannot be put into practice in a regulated market environment, let alone translated into real career opportunities. This potential disconnect between education and practice further undermines the motivation of domestic higher education to offer investment and trading courses. It also makes it even harder for Chinese forex traders to access systematic official educational support. They are forced to rely entirely on independent learning, drawing experience from books, industry reports, online courses, and real-world trading, developing a trading system that suits them through exploration without a fixed framework.
However, from a competitive perspective, the limited number of participants in domestic forex trading, resulting from policy restrictions, also provides a unique competitive advantage for traders who persist in self-study. Unlike markets like stocks and funds, which have low barriers to entry and a large number of traders, the foreign exchange market, due to both regulatory and knowledge constraints, has a relatively limited number of professional traders in China. This means that the market is less susceptible to interference from "irrational trading." Traders who have mastered a mature trading system through self-study are more likely to gain an advantage through rational analysis and disciplined execution. For example, while most ordinary traders, lacking professional knowledge, fall into the trap of "chasing rising prices and selling falling prices," traders who have undergone systematic self-study can more clearly identify market trends and control position risk, thereby achieving stable returns in a relatively rational trading environment. This "fewer competitors" landscape does not necessarily mean easier profits, but rather reduces the risk of strategy failure due to overcrowded markets, providing self-taught traders with a broader space to unleash their potential.
It is important to understand that forex traders, "self-study" is not simply a matter of accumulating knowledge, but rather a comprehensive process of improving their multi-dimensional abilities. First, traders need to build a solid knowledge base through independent learning, including basic knowledge about the operating mechanisms of the foreign exchange market, factors influencing major currency pairs (such as macroeconomic data, geopolitical events, and central bank monetary policy), and the core methods of technical and fundamental analysis. Second, they must accumulate extensive experience in real trading, developing strategies for dealing with different market conditions through trial and error. For example, they need to identify key support and resistance levels during a consolidation market and manage position risk during periods of central bank intervention. More importantly, traders need systematic psychological training, honing their ability to control greed and fear through continuous self-reflection and mindset adjustment. For example, they need to be able to stick to their take-profit strategies as unrealized profits expand, and maintain rational judgment when unrealized losses fluctuate. This "mentality management ability" is often the key that distinguishes average traders from successful ones. There's no fixed learning path; it can only be gradually strengthened through self-awareness and deliberate practice in long-term trading practice.
When traders, through self-study, not only achieve a deep understanding, mastery, and thorough mastery of knowledge, common sense, experience, and skills, but also achieve precise control of their trading mindset from a psychological perspective. Truly achieving "self-study" not only provides traders with the ability to generate stable profits but also a sustainable means of wealth creation. This ability provides long-term financial security, allowing them to earn returns commensurate with their abilities through forex trading while managing risk appropriately, ultimately achieving a life of "lifelong comfort and ease." However, it's important to emphasize that achieving this state isn't achieved overnight; it requires years, even decades, of sustained investment—from initial theoretical learning to mid-term trial and error in real trading, to final stage system refinement and mindset development. Each stage requires a significant investment of time and energy, and the trader may face numerous setbacks along the way, including losses and even margin calls. Only traders with exceptional self-discipline and resilience can ultimately complete the long road of self-study and achieve stability in both forex trading and their lives.
In summary, the phenomenon of "most successful traders in forex trading are self-taught" is a result of the combined influence of the education system, policy environment, and the nature of trading. For Chinese traders, despite facing the dual challenges of policy restrictions and a lack of educational resources, building professional skills through independent learning can still lead to profitable opportunities in a relatively relaxed competitive environment. However, the path to self-study is fraught with challenges, requiring traders to comprehensively hone their knowledge, experience, skills, and mindset. Only by persevering with a long-term perspective can they ultimately break through market barriers and achieve the transition from "ordinary participant" to "successful trader," ultimately achieving sustained financial returns and a sense of peace of mind.

In two-way foreign exchange trading, one of the most terrifying situations a trader faces is losing everything and falling into an obsessive refusal to admit defeat.

---

This mentality often leads traders to blindly persist even after losses, ultimately losing not only their principal but also sinking deeper into debt. They may resort to loans or debt to try to offset their losses, hoping for a sudden turnaround. However, this behavior is like drinking poison to quench thirst. It not only fails to solve the problem but can actually put traders in even greater danger.
Forex investing is fundamentally an economic activity based on market analysis and risk management. However, when traders fall into this blind and impulsive state, trading gradually devolves into gambling. Similar to gambling, this behavior often carries extreme risks and unpredictable consequences. In gambling, gamblers often increase their bets based on a momentary sense of luck, ultimately leading to irreparable losses. Similarly, in forex investing, traders who have lost everything may increase their risk due to overconfidence or a reluctance to face reality, attempting to recoup previous losses with a single successful trade. However, market uncertainty makes such a comeback unlikely, and traders may end up in deeper financial trouble.
Such behavior not only has a devastating impact on the trader's personal finances but can also have a serious negative impact on their family and social relationships. In extreme cases, this gambling-like trading behavior can even lead to the tragedy of family breakdown and death. Therefore, traders must always maintain a clear mind, recognize the risks of forex investing, and strictly control their trading behavior. Only through sound risk management, prudent trading decisions, and a deep understanding of the market can traders achieve stable returns in the forex market and avoid falling into the trap of dangerous gambling-style trading.

In the two-way trading of the forex market, short-term trading, due to its apparent "short cycle and quick results," is the preferred operation mode for most novice traders. However, "carrying a position"—refusing to stop losses in the face of a losing position and choosing to hold onto it until the market reverses—is a common tendency among novice traders in short-term trading.

---

This behavior may appear to be an expectation of a "market reversal to recover investment," but in reality, it exposes novice traders' cognitive biases about market principles and a lack of risk control awareness. If persisted over a long period of time, it often becomes a major risk factor for account losses or even liquidation.
Novice traders often choose to enter positions at high or low prices within a few days or even hours. This trading logic implicitly reflects the expectation of a short-term market rebound. In the foreign exchange market, currency prices do tend to revert to their recent mean after short-term fluctuations. For example, after a currency pair rapidly rises to a previous resistance level within a few hours, there's a relatively high probability of a small correction. This short-term mean reversion can lead novice traders to mistakenly believe that as long as they can withstand short-term losses, the market will soon reverse. However, it's important to note that the effectiveness of mean reversion in foreign exchange currencies is more evident in long-term investment cycles. Specifically, when currency prices deviate significantly from their long-term trend averages (such as those corresponding to the 60-day and 120-day moving averages), supported by core factors such as macroeconomic fundamentals and monetary policy, the likelihood of reversion to the long-term mean is greater, and the trend is more stable. In short-term trading, price fluctuations are more influenced by random factors such as market sentiment, short-term capital flows, and breaking news. Mean reversion is highly random, making it difficult to establish a stable pattern. It can also easily mislead novice traders into believing that mean reversion is effective in the short term, leading them to mistakenly believe that holding onto a trade will guarantee a market reversal, leading them to neglect stop-loss orders.
Further analysis of novice traders' trading decision-making reveals that a lack of technical analysis skills is another key factor contributing to this holding-on behavior. Most forex novices haven't systematically studied technical analysis methods. They don't know how to use candlestick patterns and trend indicators to determine market direction, nor do they understand how to use support and resistance levels to set reasonable entry and stop-loss points. Their trading decisions rely heavily on subjective intuition: if they see a currency pair rise significantly, they subjectively judge it as "the rally has run its course, time to short"; if they see a sharp drop in price, they assume it's "the dip is deep enough, time to go long." This "chasing the ups and downs" trading pattern itself lacks logical support. When positions incur losses, novices fall into the self-soothing belief that "as long as I don't set stop-loss orders, the market will rebound." In the short-term fluctuations of short-term trading, some losing positions do indeed turn into small profits due to occasional market rebounds. Novices often regard these "accidental profits" as "inevitable," forming the habit of immediately closing their positions at the slightest profit. Over time, this short-term positive feedback loop of "holding a position → closing it at a small profit" can lead novices to believe that this trading strategy promises stable profits. They may even mistakenly believe they've discovered the "code to wealth," further reinforcing their holding pattern. However, they ignore the significant risks inherent in this model: those losing positions that haven't rebounded accumulate even greater losses the longer they're held.
The harmful effects of this cognitive bias and trading habits often manifest themselves during periods of "unstoppable market conditions." When novice traders encounter a market where currency prices break through key support or resistance levels, forming a persistent unilateral trend—for example, if a currency pair experiences a continuous rise or fall for several days due to a sudden central bank interest rate hike, with no sign of a reversal—their previous model of relying on holding positions for profit becomes completely ineffective. Because novices fail to set stop-loss orders, their losing positions continue to escalate as the unilateral market trend persists. Still, they continue to hold onto their positions, hoping the market will eventually reverse. This leads to forced liquidation (or "margin call"), until their account margin is insufficient to cover the losses. Any small profits accumulated through "small profit margin closings" are completely wiped out in a single margin call, or even lead to significant losses. As a general rule in the industry, this experience of margin call caused by holding onto positions is an inevitable part of the growth process for almost every forex novice. It's essentially a lesson learned by the market about their cognitive biases and lack of risk control, prompting them to re-evaluate their trading strategies.
However, these lessons aren't unavoidable. The key lies in the novice's willingness to adjust their trading strategies. If novices recognize the risks of short-term holding onto positions and abandon short-term trading in favor of long-term investment, they can often fundamentally change their bad habits of holding onto positions. Long-term investment emphasizes the ability to predict the long-term trend of a currency. Beginners need to learn about macroeconomic analysis and monetary policy interpretation, combined with long-term technical indicators to understand the trend. Furthermore, in long-term trading, stop-loss points can be set more logically (for example, based on long-term support levels). The stability of long-term trends is relatively high, significantly reducing the need for carrying positions. This helps beginners gradually develop a trading philosophy of respecting trends and strictly following stop-loss orders.
Conversely, if beginners cling to a short-term trading style and refuse to change their habit of carrying positions, their survival in the forex market will gradually shrink. Short-term trading inherently demands high levels of emotional control, quick decision-making, and risk response abilities. Holding positions constantly increases the psychological pressure on novices. When positions incur losses, novices need to constantly monitor market fluctuations, and their emotions fluctuate dramatically with price fluctuations, easily trapping them in a vicious cycle of anxiety, misjudgment, and even greater losses. Furthermore, the randomness of the short-term market reduces the probability of profiting from holding positions. Over time, account losses accumulate, ultimately forcing most novices to leave the forex market due to the inability to withstand continued losses. This "old habits die hard" dilemma stems from the inherently ingrained perception of short-term trading among novices. They fail to understand that the core of short-term trading is to "follow the trend and stop losses promptly," rather than "holding positions and waiting for a reversal." Without this ingrained understanding, no matter how much time and money is invested, it will be difficult to achieve a stable existence in the forex market.
From a professional trading perspective, the root cause of novice short-term carry trades lies in an unbalanced understanding of risk and reward—they overly focus on short-term profits while ignoring the fact that risk control is a prerequisite for profitability. In forex trading, the profit margins of short-term trades are inherently limited, but carrying trades infinitely increases the risk exposure of a single trade, creating an imbalance where "risk far outweighs reward." In this situation, even occasional small profits are inevitably followed by long-term losses due to risk exposure. Experienced traders often consider stop-loss orders "the lifeline of trading" in short-term trading. They strictly set stop-loss points (for example, limiting a single loss to 1%-2% of their principal) to ensure their accounts don't become devastated by a single carry trade. They also continuously refine their technical analysis skills, improving the accuracy of their entry points and reducing the need for carry trades.
In summary, the short-term carry trades of novice forex traders result from a combination of cognitive biases, technical deficiencies, and ingrained habits. The risks inherent in these behaviors far outweigh the benefits of small short-term profits. For beginners, the key to continued growth in the forex market lies in overcoming the misconception that holding a position can recoup investment. This can be achieved either by developing a sound trading philosophy through a shift to long-term trading, or by systematically learning short-term trading techniques and risk control methods to break the habit of holding a position. Only by truly understanding the core principle that "stop-loss is more important than profit" can one gradually overcome the risks associated with short-term holding a position, transition from "novice" to "mature trader" in the forex market, and avoid being forced to exit the market due to stubborn habits.

---

---

• 
• 

---

13711580480@139.com

+86 137 1158 0480

+86 137 1158 0480

+86 137 1158 0480

z.x.n@139.com

Mr. Z-X-N

China · Guangzhou

---