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Is forex trading really worth it?
Mitglied seit Oct 27, 2020
16 Posts
Nov 19, 2021 at 07:00
The answer can be both Yes and No. If you gather knowledge about the basics of forex trading, then practice on a demo account before you enter live trading, the answer is yes. If you think it is a cakewalk to enter the live market one fine morning and start earning money, the answer is no.
Nov 19, 2021 at 07:13
Charlespeterson posted:
The answer can be both Yes and No. If you gather knowledge about the basics of forex trading, then practice on a demo account before you enter live trading, the answer is yes. If you think it is a cakewalk to enter the live market one fine morning and start earning money, the answer is no.
Look at it this way - what do you want to achieve?
1 - if you want to boost your savings, can you make more money on the long term than somebody else is willing to pay you as interest over say a year?
2 - can you make more money than somebody is willing to pay you in your chosen profession per month?
If the answer to these questions is negative, you have to keep a steady job/ put your savings somewhere else and try to learn some more so you can become more profitable - then try again.
This is what Demo trading is for - if you cannot be profitable over the long term, do not even think of going live!
After that start on a small live account and only if your percentage gain is constant, then you make it bigger and see if you can survive.
You cannot skip any of these steps - and if you change your system, start at the beginning!
Mitglied seit Jul 20, 2020
385 Posts
Nov 19, 2021 at 08:17
WimConrad posted:Charlespeterson posted:
The answer can be both Yes and No. If you gather knowledge about the basics of forex trading, then practice on a demo account before you enter live trading, the answer is yes. If you think it is a cakewalk to enter the live market one fine morning and start earning money, the answer is no.
Look at it this way - what do you want to achieve?
1 - if you want to boost your savings, can you make more money on the long term than somebody else is willing to pay you as interest over say a year?
2 - can you make more money than somebody is willing to pay you in your chosen profession per month?
If the answer to these questions is negative, you have to keep a steady job/ put your savings somewhere else and try to learn some more so you can become more profitable - then try again.
This is what Demo trading is for - if you cannot be profitable over the long term, do not even think of going live!
After that start on a small live account and only if your percentage gain is constant, then you make it bigger and see if you can survive.
You cannot skip any of these steps - and if you change your system, start at the beginning!
Really solid post, there are many ways that people money and have varying goals. Even if its to get better interest than a bank is giving you then its worth it
Mitglied seit Sep 15, 2021
9 Posts
Nov 19, 2021 at 13:07
If you enjoy Forex trading then it is worth it. Even if you lose a little bit of money if it is fun then go for it
Mitglied seit Mar 17, 2021
494 Posts
Nov 21, 2021 at 19:05
pigeontrader posted:
If you enjoy Forex trading then it is worth it. Even if you lose a little bit of money if it is fun then go for it
You need proper planning to make money from this market.
Mitglied seit Jan 22, 2021
126 Posts
Nov 26, 2021 at 08:00
UweMoench posted:
Forex is worth or not depends on how skillful a person can be. Without knowledge and skills Forex is a easiest and fastest way to lose money. So it varies person to person.
Yes. If you are able to make a good profit return, then forex trading is worth it. If not, then forex trading is not their thing.
Mitglied seit Oct 29, 2021
69 Posts
Dec 01, 2021 at 04:03
Forex trading is really worth it if you know what you are doing. The forex market is open 24 hours a day and five days a week, so there is always an opportunity for trading, but you should be aware that it is a market where you can lose as much as you might win. So prepare yourself before you consider trading.
Mitglied seit Nov 23, 2021
34 Posts
Dec 01, 2021 at 06:42
Forex is a long-term endeavor. It can be beneficial if you trade properly and read about the market regularly.
Mitglied seit Nov 23, 2021
24 Posts
Dec 03, 2021 at 06:11
If you do forex trading in the right way, it can be a very profitable activity. However, like with any other form of trading, there is always some element of risk involved. So, it's good to have a sound knowledge of the forex market before you start trading with real money.
Mitglied seit Jul 23, 2020
816 Posts
Dec 07, 2021 at 17:26
Professional and consistently profitable forex traders make lots of money from forex trading.
Mitglied seit Jul 23, 2020
696 Posts
Dec 09, 2021 at 21:36
Forex trading is worth it if you truly want to learn it.
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