Forex is a decent business in the event that you know how to do it. In the event that you need to get maximal outcome in Forex I think first about all you need to secure most intense breaking down trade information by learning. Without being skilled forex is a money losing machine.
If you want to make a consistent profit in Forex trading, you must first learn to trade. Loss is inevitable if one joins trading without acquiring proper knowledge. Therefore, every trader should acquire proper knowledge and join the trading world.
I agree, just like any business, without knowledge if one initiates it, it is nothing but doom. Proper knowledge and a fair bit of experience is a must for profitable trading. I started out with Fxview after completing my trading course and attending numerous seminars and webinars of the same. But it was only after a year or so I started making real money. Discipline and patience are also very important in trading. One should not try and speed up the process by playing big numbers. I started trading more than 5k in one trade only after I started profiting on a consistent basis. Operating 2 accounts now, Oanda besides Fxview and happy with the direction my trades are taking.
It depends on people, to be quite frank. While I enjoy trading in forex trading, I do not consider it business just right away, but yes you can and will be able to make a profit, wouldnt that make you a trader, not a businessman?
garrychristians posted: Yes, forex is decent, interesting and can bring good returns if done right. A good knowledge about the market and the market conditions is essential for trading in the financial markets.
Yes. If you have proper knowledge about the market, you can make enough money from this market.
Agreed. If you know what you are doing, then you would be able to make profit, and also grow your financial stability in that. And not just those, but also your skill and knowledge which I think are both most important.
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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