Forex is the same as any other business that creates a big income. If you are CEO of company you had even more stress and work to do.
Forex is rather easy to handle if you need just like 2% a month, that could be achieved easilly but in such case you have to deposit significant amount of money. So with let say 25% a year profit and $50,000 living costs you need to deposit $200,000 and trade it carefully.
Yes, it is true that Forex is very tough business and you should not leave at this stage and should contnue learning. One day you will be able to make good profit in it and you can be a successful trader.
Dictiony posted: Yes, it is true that Forex is very tough business and you should not leave at this stage and should contnue learning. One day you will be able to make good profit in it and you can be a successful trader.
I agree with you. The process of learning has to be ongoing for any trader.
Newcomers should focus on others inevitable part of trading besides acquiring good trading knowledge. Controlling emotions , avoid revenge trading , overtrading , money management ,RR and much more things they have to observe for avoiding unfortunate loss.
The beginner should use demo account minimum for three months, sometimes many brokers organize demo contest with real money prizing. Newcomers can join here. It could be great to acquire real trading exeprince.
Shelby10 posted: Forex is very tough business, when you don't have any knowledge about this market. If you have enough knowledge about this market, it will be very profitable and easy.
You are right. Forex trading for the first time is always difficult, but with constant study and training, it will be easy. It can be difficult to understand FX, but once you understand FX, you can easily earn money by trading.
Yes trading is the most difficult business in the world, whether it's forex, stocks or commodities. That's why 95% people ultimately fail in trading. To be successful in trading you have to be skilled enough.
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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