Forex is good in terms of return it gives if you are skilled trader. Otherwise forex trading is the most difficult job in the world. You have to be enough knowledgeable and skilled. And the psychological aspect of trading makes the trading more difficult.
That is right. Without proper knowledge of forex, it is very difficult to trade. Every trader should also have a proper trading mindset for achieving some level of success. The returns are achievable at times and sometimes even getting 1% of overall profit is difficult. Since trading forex is risky, getting any amount of return feels like an achievement to me. I trade with some cost effective and low spread brokers that fulfil my trading needs.
Yes. making money from this market is very simple. You need to have proper knowledge and experience. With your knowledge and experience, you can make a profitable plan and make money from this risky market easily.
That's where consistency comes in. You can be making 100% a month for 6 months or maybe years then loses 100% in a day. Bye capital.
What you need is a good strategy that can possibly give a consistent return. It would always be better to go with the side of cautiousness and lower profit but safe capital than with aggressiveness with huge returns but could lead to a blown up account.
Yes, one has to be passionate about making wins in the particular field, be it forex or any other. If someone is taking the play lightly, then there's hardly a chance that goals will be achieved by him.
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.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.