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Is forex is best source of income?

Weatherly
Aug 10 at 05:28
26 posts
It can be profitable if you follow the measures needed to control risk. This market is not an easy one, you have to study every aspect or factor involved in what could affect market conditions. Learning its sentiment will only help you make better and wiser choices. Good luck!
Tectiform
Aug 12 at 10:58
19 posts
I don’t think that forex trading is a good source of income when the number of losing traders is quite high. If you are planning to build your career as a forex trader, be ready for losses before you expect to make any profits.
Fandango
Aug 17 at 10:27
21 posts
One thing to keep in mind when you enter the forex market is the risk associated with trading. Risk management is very much needed to become a profitable forex trader. A beginner should not expect to become profitable right away as it takes time for a newbie to gain knowledge and develop trading skills. Forex trading can be the best source of income only when you are trading with a professional approach.
Kalestont
Aug 17 at 20:02
17 posts
I think Forex is one of the best sources of income.
You can't call it the best. One simple reason.
It's a lot of risk and it's really hard work.
As for the rest, like I said, 'I think Forex is one of the best sources of income!'
Let's think about why.
1. Forex trading is something you can do at home. All you need is a computer and the internet.
2. it is a free schedule. Forex market works 24 hours. You can work whenever you want!
Not much money to start. Most brokers have minimum deposit less than $500.
4. Unlimited income. Only trader can determine the level of monthly profit.
As you can see this is a really cool job.
But everyone should understand the fact that you have to study a lot, train and improve your skills.
HenrikDormicoFX (DormicoFX)
Aug 17 at 21:52
2 posts
Dictiony posted:
Forex is the best source of income because it is a very profitable business and very popular online business. According to my point of view, most of people's are doing work on forex and earn huge amount.most of people's meet our family expense through forex because is a profitable business. forex is the best source of income.

Forex can indeed be very lucrative and yield good income if you first understand the basic makeup of economics. We wouldn't call it an online business though. A business is a legal entity that makes money by offering solutions to a market that demands it. Trading is taking advantage of market movements and/or trends.

While it is true that there are certain persons that make large returns on their trading, it is also true that they trade on margin that gives them leverage to do this. If the market goes against them, losses can add up quickly, and lots of hard work may be wiped out.

It is in our opinion better to approach Forex as an asset class like stocks, real estate, gold etc, to either supplement income from your prime business (for example for hedging, if you sell to foreign markets), or if you're a wage earner, to treat forex as an asset in your portfolio next to other types of trading/investment assets.

- Henrik Schmidt, DormicoFX ©2022

'Your vision is just one trade away'
Your Vision Is Just One Trade Away...
Dreamery
Aug 19 at 04:11
18 posts
Forex trading is a great way to gain money, for sure. However, there are a number of variables that determine how much money you can make. Therefore, before you jump into forex trading, it is recommended that you acquire and hone your market knowledge and expertise.
DjmixmaxLateen
Aug 22 at 11:22
24 posts
I don’t think it is since not every trader is able to make money. Some traders don’t even make a single profit because of the constantly changing market conditions. It takes time for a trader to make money that not all traders are comfortable with.
Zirconic
Aug 25 at 09:27
22 posts
I can’t say it’s the best source of income, but I can say this from experience, if traders approach the market with a positive outlook and focus on building strategy with patience and learn from their errors, it is not bad at all. The market is volatile and the risk is always present in the market.
Traders should be prepared to face any kind of situation and still manage risk, time and money.
Eric (Goldbarrel)
Aug 25 at 20:56
17 posts
Forex is really a multifaceted platform for making money.
The main thing is to know that you can earn not only by trading, but also by investing.
Make money with people who know how to make money.
PhoneticNachos (DavidWilks)
Aug 27 at 14:21
14 posts
Forex trading is hard for 95%+ to be profitable long term. If you can't trade, just stop and buy dividend stocks, real estate etc.

After 8+ years of being a profitable trader, every single trader I have 'known' has failed and stopped except me.

I have no secret, no magic setup.

 Just the right combination of talent, intelligence, risk appetite, bankroll management, 'balls', insight, and dedication to succeed.


I have flipped countless accounts from $500 and grown to $2k+, made $20k in a little over a month, had over 70 trades in a row go my way, consistently have win rates over 70%.

Now I trade with around $5-10k a month, and usually make at least $500 a week. Each week/month I make more than I expect, I pull out and reset the growth, to protect the profits.
Protect against loses and the profits take care of themselves.
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