Well, it is hard to say for sure hether it is the best source of income or not because of the fact that all of the people are different. Some people feel fine trading currencies, while other people find this kind of activity very nervous and stressful. Forex surely has some strong points, but we shouldn't forget about its weak points as well. I feel that the major disadvantage of trading forex is that it is very unoredictable. Nobody can gurantee you that you'll be profitable even taking intoaccount the fact that you know lots of things about trading. Market may go every direction it likes irrespectively of our expectations and hopes.
It's considered to be one of the most popular source of income I guess. There are many other ways how to earn money online, however forex is hyped and there is plenty of buzz around it. Anyway, it's considered to be one of the most popular mainly becauyse all people can learn how to trade on forex. The vast majority of other activties requires some knowledge, while forex trading can be learnt even if you have never faced this type of activity earlier. In my opinion, in this case, forex trading might be considered as the best source of income, but remember that there is no fast income on forex. You have to pass many stages before start earning money.
It can be the best source of income for you if you manage to learn how to analyze the market and control your emotions. These are two must-have things to become a successful trader. On the other hand, a person may lack these qualities but nevertheless be able to succeed in another field. Not everyone can become a trader. If you are struggling to trade, then it might not for you.
@Gavik I agree with your point, which is why I trade along with a permanent source of income i.e. my regular job. I have a thought of taking forex trading full-time once I have an in-depth knowledge about the market and start making consistent profits.
Indeed forex is a good source of income but it's not the only good source. It varies from person to person. or I should say trader to trader. Some like forex, while others like cryptos, stocks or other markets.
No, it isn’t because it’s very risky and you won’t start making profits from the beginning as you would have done had you taken up a job. I consider it as a good source of additional income and that’s why I have been trading forex along with my job.
In the past and in the present, forex trading has proven to be a sustainable income source for many households around the world. An online forex forum reports that many Americans earn a significant amount of money from forex trading to support their financial needs.
No doubt Forex is a good source of income but for forex income, you need to spend hours and hours on the screen watching each candle very carefully and sometimes you feel very bored and of course, you will also be in some losses but struggle and consistency will make you stronger and stronger. In my opinion, after two to three years of struggle, you will be a successful trader.
Forex can be the best source of income for anyone who’s ready to put in the hard work. But the journey to become a successful profitable trader is full of ups and downs. Before trading, you should check whether you can tolerate the risk you’re taking.
I won’t call forex the best source of income as I know that it’s not easy to generate regular income with it. The forex market is always moving and you may not be able to predict it accurately every time. So, if possible, trade forex part-time and take a regularly paying job so that you don’t have to go through hard days.
It's like saying making money by selling your art work when you can't actually paint yet. There is no guarantee that even if you learn the skill you can monetise it into a proper income stream. Most don't if we're honest.
If you can't spot the liquidity then you are the liquidity.
Yes, forex is now a popular and profitable online business and it is believable so anyone can take it as a job or business and fulfill his dream of earning money from forex and helping to meet the needs of his family at the same time.
In my opinion, forex is a good source of money if you understand the market. The forex market is volatile and therefore risky. If you are familiar with market behaviour and are good enough in your ability to analyse and forecast, then surely you can make it a good income source.
I believe it is a good source, although more than 70% lose money in forex. It is necessary to understand the market and the tools and strategies you want to use, and that usually takes a long time. I do not believe that chasing big profits is a good long-term strategy for most people. It's very stressful... IMO it's better to find good strategies and have strict risk management.
Excesses usually lead to euphoria and greed, and greed leads to loss.
Ask, and you will receive; seek, and you will find; knock, and it will be opened to you.
Yes it is but only to the professional & experienced forex traders. Indeed the market is profitable but you must keep in mind that it takes years of learning and experience and don’t think that you’ll start earning profits overnight. I would suggest you to not make it your primary income source as it is very risky and volatile. No one knows where the market will head and it is better not to take risk.
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.