Losses are inevitable in the forex market @RobertFerrari lucky are those who are able to reduce their loss. When I started the forex journey, everytime i faced a loss I tried to compensate for it by doing more trading. Fortunately I realised at the right time that this way i am only losing more money.
I believe that forex isn't a bad business mainly because it potentially can help you to acquire some money in order to provide yourself with various needs. So, hence we can't state that it's a bad business. It might be bad only for those traders who weren't able to earn money at forex. For those who successfully trading it's not a bad business. For some of them it's a like an airbag in case they would lose their primary workplace, for others it's a primary workplace which they dedicate lots of time. So, here, everything is quite individual and I guess that every trader relates to forex trading according to his/her personal condition.
You are right. Forex is neither bad nor good, it just exists and that's it. It is up to you whether you are able to gain profits from it or not. It is only you who is responsible for your trading results and you cannot blame anyone else for the fact that you lose the money.
I wonder who thinks of forex as a bad business? Maybe those who failed in forex trading. Forex is neither bad nor good, it just exists where you have the opportunity to gain profits or lose your deposit. Everything depends on concrete trader and the broker which they work with.
For many, a forex trading business may even be their primary means of income. Considered a lucrative means of making money, forex trading, or online forex trading is the process of purchasing and converting various currencies. The only variation here is that instead of stocks of a company, you are trading currencies.
I think a lot of people get the wrong idea about forex trading and think it's a scam or impossible to really make money due to all the failed traders out there. Of course it's possible to make money, it's just that it's more work than most people expect. You wouldn't take a regular job and expect to become rich without putting in effort, yet people expect that from trading or else they classify it as a sham.
Of course forex isn't a bad business, mainly because it can generate solid sums of money actually. To my mind, forex trading is a great business and if you can earn solid sums of money then it becomes really profitable for you. The main idea of trading as a business is that you should make some steps which should be contemplated beforehand. Of course, not all traders can make money on forex, nevertheless if we take into consideration traditional form of business, then there are also sme people who remained bankrupted after trying it. So, everything is individual here and depends on your goals and skills.
Forex is an excellent business, which offers unlimited profit and unlimited loss. Thus, it depends on an individual what he wants to achieve from this business. One thing for sure this is not as easy business as it seems at the beginning to most of the traders. It is a serious business and it is to be dealt with very cautiously. A trader needs to learn and invest his time before getting into this business.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.