I think that forex can be considered a source of good income, of course, provided that you work here and not play for luck. In addition, this area itself is very interesting and requires a lot of knowledge and ability to analyze the situation. In my opinion, you can learn to act carefully and competently, which can then be useful in other business areas. But I have a lot of acquaintances who earn only on Forex have super big capitals here and feel fine, providing themselves and their families.
I think that trading is a great opportunity to apply your knowledge of the market in reality and provide yourself with a stable basic or additional income. There are indeed wide opportunities that may not be available in all areas of business, for example, construction definitely requires large investments. While forex can start with a few thousand dollars. And in the future to bring you a huge profit. Of course, it does not work for everyone, I would even say that most people leave this business even after one or two minor failures. But those who do not give up unequivocally get much more than they could even imagine.
I wish to become the best trader and leave a legacy that new trader would admire. I want to build the best trading strategies and even come up with signals that I can sell to make more money. The bottom line is that I want to become a full-time trader and quite my day job to make a living from trading. It might take years, but that's what I wish to achieve through forex trading
BaldoN posted: You know what moves the market? There are two factors – fear and greed. If you start to supplement your income more often I guaranteed to you that you will become greedy – you will said to yourself – I want a bigger house, new car or something like that. Seeing that you have success on the market making small amount constantly – you will decide to raise the bar – put the big money – and then… The wishes are good thing, but you need to stay on the ground, not to live in the clouds. Developing the system which brings you success is long and hard work.
I want to make additional money like $100 per day on somewhat consistent basis and see my near goal in that absolutely and entirely anyway for many suggested reasons out there. How we could make it - it's the other side of the story.
I am not sure the topic is money. If it was people should keep themselves far from not only forex but futures, stocks all kind of markets because we know that majority is losing money, even who seems to making money soon or later they became loser it is just matter of time. If it wasn't simply spread betting wasn't exist too. When you look from this window there is so limited people can make money consistently in markets. So topic can not be money.
What could be? For me it is a game, very challenging game and I have passion on this game. It is against human natural and this make the game more harder I love that challenge.I am looking money part as point in the game but it is not necessary because there are some people who even do not intent to play this game but they are making money, more than most of traders.
Many years I saw people who find what they are looking in the markets, a few sample; Gambling, most of them even do not notice they have addiction, if they play in casino it will be clearly gambling but trading is a kind of hiding place...
Some people needs to be right all the time and they use market for this. Even when they are wrong, they push themselves to be right. You can hear them 'I predict that it will be worse than 1930 crises but how could I know FED print money and save the markets. -Than a few joke about QEs or FED' (he close his error there and continue to new predictions to be right but never wrong)
Some people need to be look cool and they use markets for that. They think that when they talk about DJIA they are look like super. As long as they believe they get what they want.
Some people needs to trick other people. For them money has to come from others because they needs to be foxy and they sell every kind of BS to others, for example signal providers, big twitter account, fx brokers.
Ed Seykota was right 'everybody gets what they want.'
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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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