miguelcaron posted: Indeed trading forex is very tough and not a piece of cake for everyone out there. However, if you have a sound knowledge and a lot of experience then it gets easier for you. But always remember that forex trading is easy gain and easy loss. If it makes you rich in one trade, it is also capable of wiping out all of your money in a single trade.
The 'easy gain, easy loss' is the fact that it's based on probabilities and that is all part of the game and once you have an edge you will succeed over a long period of applying that edge
Forex appears to be difficult for a novice. However, if you have the necessary information and expertise, it won't ever be difficult for you. It's very typical to lose money in the beginning. However, assessing such losses is crucial. You gotta remember that you must learn from your errors and not repeat them.
If you do not have proper knowledge about the market, then this business is definitely very tough and you should stay away. To reduce the toughness, you can become familiar with the basics and fundamentals of forex trading.
Forex trading is a tough business. Despite being difficult and risky, people are interested in this business. Forex trading requires enough skill. Traders with skill and experience can achieve success quickly. Without trade skill, you'll lose.
Pendular posted: Forex trading is a tough business. Despite being difficult and risky, people are interested in this business. Forex trading requires enough skill. Traders with skill and experience can achieve success quickly. Without trade skill, you'll lose.
Where to learn these skills? There are lots of websites claiming riches and education but I have tried these and got nowhere
By nature Forex is tough and it is even tough to the new traders. If traders invest more and more time to get familiar with Forex, then the market remains no longer tough for them. But, traders always hasten to making a quick buck to get rich overtime.
Forex trading is tough for a beginner but it will get easier as you learn and gain experience. You just need to be patient as well as cautious to deal with the market risk. A good strategy and risk management system is needed to survive in the forex market for the long run. Forex trading can be complicated and challenging. But if you have passion for trading and determination to reach your full potential as a trader, then nothing can stop you from achieving success.
By nature, Forex is a very tough business. If you are thinking about investing big sum of money, then you should think of your capability. Because, if you are not capable enough, you will lose all of your money any time. In this case, you have learn Forex top to bottom very well.
Knowledge and experience plays an important role in forex trading. These attributes can be hard to inculcate and can also make trading tough but as the trader trades they start to come with time making trading forex easy.
Forex trading requires your patience and consistency to develop your analytical and technical skillset. Many traders want to earn money from forex the easy way, they do not want to work. Hence they buy signal bots, trading bots, etc. The truth is there is no ‘easy way’ nor a ‘fast way’ to forex. People need to work hard to learn about the market. And then make strategies to progress.
Besides outer aspects, some inner aspects also play the major role in developing a trader like patience, motivation, and perseverance. Traders should identify their deficiencies and then work on them to repair. Skill is a very precious quality to achieve for a trader.
The reason that you have equal chances of losing your money as of making money is what makes forex trading a tough business. You may want to make the most of every market situation but you won’t be able to do that practically because of the changing market that poses a constant risk.
Honestly, Forex is like a thorny street for beginners as they initially don’t have sufficient trading knowledge. They make mistakes and they are ignorant of terms and conditions of the Forex market. This is the reason Forex seems scary to them and they also remain in confusion what they should do and what they shouldn’t.
For some reason, many newbie traders have the illusion that now they will come to trade and immediately earn millions @Pelagic . Alas, it's not. Guys right that forex's indeed too tough business. The business where you need to constantly invest your time, money and perseverance. The strongest win. And it is true. On my own, I add that if you really want to make money on forex, it's important to be stubborn and not dwell on losses. And they will...
The forex market is not for the faint of heart. It takes a lot of things to learn about the business and have the experience to be risk-free in any market condition. A person must first prepare for the trade before engaging in it.
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.
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