Newcomers take this market place as s casino, they always try to make profit very rapidly without learning, as a result they become loser after passing sometimes and ultimately blame this trading place.
Yes, Forex and CFDs are a Cassino. Earlier you realize this truth, easier you will make money.
Imagine the Roulette in the Cassino. There is 18 black numbers and 18 red numbers. If you bet black every single time, your chance to win is 50%, correct? No, it isn't. Because the Cassino has the zero and double zero. After 3800 bets, you win 1800, and the house 2000. Your chance in this strategy is 47.4%. For the Cassino, is 52.6%. For every million people bet in Roulette, House's profit is 52.000,00.
Because the Cassino increase its odds in 2.6%, it is able to be profitable...
The cassino doesn't accept bets that goes over an ammount. Because a lucky trader with a huge bet can wipe out all profit from Cassino.
What is Cassino doing? Working with probabilities to favour profits. Cassino has a strategy to increase its odds to win barely over 50%, a money management to avoid risky bets.
How many Forex traders have a strategy to barely increase their probabilities, and how many work with money management? Just a few.
And how do I increase my chances? Technical analysis (TA). TA is not a Crystall ball, it will not say if prices will go up or down. A simple TA that increases your odds to win to 60%, with a reward/risk ratio of 1:1, a 1% risk in every trade, 250 trades a year, means 63% return in one year. In 10 years, 10.000 USD will become 1.3 million. How many traders work with a 10 year plan?
Yes, forex can make you rich. But you need a strategy.
Trade safely... Remember, a high Drawdown means a high risk!