Forex is a very good source of income but it takes some time for traders to reach a stage where they start getting consistent profits. You can make good money through forex but it requires a lot of patience, hard work and knowledge.
teadragon1 posted: Forex is great way of making money if you can make it work. If not, you will lose everything. So it is very high risk - high reward
Indeed yes, making money in forex only depends on the trader himself, if he will perform his trades with knowledge and proper research then he can definitely make profits, if he will let his greed in then except losses, he can’t get anything.
Yes it can be a good source of income, like any other business, as a business man/woman, you do not want to run a solo businnes, and in turn expect to live through it on a daily, monthly or yearly basis. Especially in a risky business like forex, outcome is not certain until achieved, so you will need to create other businesses so you do not trade with a heat that you must be paying expenses with trading profits following month.
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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Past performance is not indicative of future results.