Forex game is not business

Forex is not the name of a game or a tide. It is a business of international standard. Forex means foreign exchange. Forex is the international foreign exchange market. Countless people around the world are involved in this business. Where its daily turnover is more than 6 trillion US dollars. The only competitor in the forex market is the American Stock Exchange. Of this, about 30 billion is transacted every day, much less than Forex. So many people think it's a gamble, which is not true. It has created an alternative income path for some people as a professional or part-time job.

That is right. I am glad you took the time to explain this here. A lot of newbies can benefit from this information, thanks.

Trading is not an easy job. The most important thing to develop is your psychology, if you cannot keep cool when your position is loosing money and make decisions based on facts rather than emotions you don't stand a chance.

I would also add not only knowledge, but also the attitude to trade, because it directly depends on whether you lose your money or not.

UweMoench posted:
Trading is not an easy job. The most important thing to develop is your psychology, if you cannot keep cool when your position is loosing money and make decisions based on facts rather than emotions you don't stand a chance.

Yes, you are right. I have to work hard to learn forex trading and the most important thing is to control psychology.

its a business where we take as money making machine. but with no knowledge and experience there is no way to survive successfully

Dictiony posted:
Forex is not the name of a game or a tide. It is a business of international standard. Forex means foreign exchange. Forex is the international foreign exchange market. Countless people around the world are involved in this business. Where its daily turnover is more than 6 trillion US dollars. The only competitor in the forex market is the American Stock Exchange. Of this, about 30 billion is transacted every day, much less than Forex. So many people think it's a gamble, which is not true. It has created an alternative income path for some people as a professional or part-time job.

Yes Forex is not a game or gamble. In this time of pandemic where a lot of people are losing jobs, Forex has emerged as a great platform where people are taking it as a good path for income.

Yes forex is not a game to gamble. It's a business that needs deep understanding and skills to get success. The earlier a trader will understand it the better for him.

Gambling is not the best way to trade proper analysis and strategy are needed for real trading.

LyudmilLukanov posted:
Gambling is not the best way to trade proper analysis and strategy are needed for real trading.

Completely agree. You need to find a set of rules that have the statistical edge in your favour. Once you execute and control your emotions you will be profitable

Dictiony posted:
Forex is not the name of a game or a tide. It is a business of international standard. Forex means foreign exchange. Forex is the international foreign exchange market. Countless people around the world are involved in this business. Where its daily turnover is more than 6 trillion US dollars. The only competitor in the forex market is the American Stock Exchange. Of this, about 30 billion is transacted every day, much less than Forex. So many people think it's a gamble, which is not true. It has created an alternative income path for some people as a professional or part-time job.

It is not a gamble.. I agree with you, but people treat it as a gamble which will make them rich over night and eventually end up loosing everything... Its such a shame

true that, forex is not a gamble but a game of understanding and learning on daily basis. thinking that a study of few days will be enough for trading then it is a stupid thought. There are others who think the luck will favor them but that is also not true. all those who thinks its a game dont play in the real for long

Don’t treat it as a hobby or game. It is serious business. You may lose everything if you are careful enough.

business is a professional activities but i have seen we the traders sometimes take Forex as casino and behave as like that . so we fall a great trouble most of the time.

in order to me , its more appropriate for you to finish the pre school level including demo account or micro for practicing.

When you do not have much knowledge and do not know how to control your mind, you end up gambling. Then gradually it becomes a habit.

SofieAndreasen posted:
Don’t treat it as a hobby or game. It is serious business. You may lose everything if you are careful enough.

Yes. Every trader should be very careful with their trading career.

Let's make it simple - Forex is not a game or something that you can gamble away.

Forex is a long time approach , just you have to make sure great level of patience. also need a discipline