In the present world from any other profession Forex trading is most comfortable and suitable to earn money in a proper way, but you have make sure some mandatory rules for that . but practically mostly traders are loser from here due to lack of exact trading knowledge which is the key to success in this volatile trading place. Besides good trading knowledge it is also important to ensure proper trading plan , money management , risk management and obviously a reliable support from a credible trading broker.
Every trader in this market place I think already knows Forex is a risky business. That’s why need experience and knowledge to minimize the risk . Without proper trading knowledge and experience, a trader many be get more loss than profit. We should understand that there is no shortcut and we can’t become rich overnight.
Honestly speaking , You can earn money from various sources , but In Forex you have to pass a long time with great patience if you want to earn mney from here, and you have to ensure a reliable support from a credible trading broker , because the broker can affects the result of our trading with certainly.
Forex is becoming very popular with time as it is very suitable to earn money but as per the stats 90-95% of the traders are losing money and only 5-10% of the traders make money. This happens because most of the new traders are trading without the exact knowledge of trade. trading needs proper knowledge, a good plan to execute and most important a good broker who can provide a good platform and account as per the requirement.
I agree with you - knowledge is very important, but you need to have a strategy and to follow it. This is basically to put the knowledge in practice. Regarding the trading plan - you should choose the trading field (platform, broker, conditions ... etc) after you have your strategy and knowledge for trading.
Forex is like any other business. If you know how to run it, then you will be successful in the course of time and will make money and if you don't know how to run it, then you may loose everything what you have.
leo23 posted: Forex is like any other business. If you know how to run it, then you will be successful in the course of time and will make money and if you don't know how to run it, then you may loose everything what you have.
The caveat here is that this type of business takes quite a while to learn how to conduct well. One always needs a period of training when they begin a new job, but with Forex that period seems especially long and especially stressful.
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.