Fordrerne posted: I think that forex can become not only a source of additional earnings - it all depends on your desire, lifestyle and, what to hide, your financial possibilities, because good profits are usually provided by good capital...
Yes I think so too, but the main point is about skill trading, although having huge capital but not supported by good skill, it will losing money, built up a good mindset indeed can improving trading skill, forex business can become the second source of income if trader already reached level profitable trader, but for losing trader forex is risky business. we also need to measure our own ability about this matter.
Well said Akasuki, understanding the market is the first key towards success. With a little more understanding of risk management approaches to investments, much confidence on continual success can be imbibed.
GitHubRobot posted: Well said Akasuki, understanding the market is the first key towards success. With a little more understanding of risk management approaches to investments, much confidence on continual success can be imbibed.
Completely agree and then psychology comes with experience. Persistence is the biggest key
@Smith_fx you are so right. These are the very people who enter the market with a hope of making huge profits but end up being broke. It requires a strong mind to survive in the market which goes through continuous ups and downs.
The idea of your tips is right, but they are too vague. I mean that It is common sense that you need to choose the best strategy. The question is where to find these strategies and how to understand that this strategy is the best?
That is a nice overview what trading is all about. A newbie should also understand that markets are different. I mean that stock markets are different from the forex market and commodity market. So, you'd better concentrate on a single market and learn it.
Forex as the second source of income, I think good to make diversification investment, not only in forex but an investor can make a balancing for portfolio investment, like as buy stocks or mutual funds or bond, forex is high gain business but also high-risk business, treat as the main source maybe if lack confidence will make a trade under pressure, profit today is not guarantee will profit again tomorrow
I strongly advise you to build a solid plan that allows you to gradually turn to trading in the foreign exchange market for income if you are interested in trading in the foreign exchange market for income. Although you may think that your trading performance will be better when you devote all of your practical energies to trading in the forex market, this is not always the case. Even if it is reasonable to think that more time means more money, you will not necessarily make more money through speculation compared to trading Forex with poses.
ADVERTENCIA DE ALTO RIESGO: El comercio de divisas implica un alto nivel de riesgo que puede no ser adecuado para todos los inversores.
El efecto de apalancamiento crea un riesgo adicional y una exposición a las pérdidas. Antes de decidirse a operar con divisas, considere cuidadosamente sus objetivos de inversión, su nivel de experiencia y su tolerancia al riesgo.
Podría perder una parte o la totalidad de su inversión inicial. No invierta dinero que no puede permitirse perder. Infórmese sobre los riesgos asociados al trading de divisas y pida consejo a un asesor financiero o fiscal independiente si tiene alguna duda.
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