Forex is the same as any other business that creates a big income. If you are CEO of company you had even more stress and work to do.
Forex is rather easy to handle if you need just like 2% a month, that could be achieved easilly but in such case you have to deposit significant amount of money. So with let say 25% a year profit and $50,000 living costs you need to deposit $200,000 and trade it carefully.
Yes, it is true that Forex is very tough business and you should not leave at this stage and should contnue learning. One day you will be able to make good profit in it and you can be a successful trader.
Dictiony posted: Yes, it is true that Forex is very tough business and you should not leave at this stage and should contnue learning. One day you will be able to make good profit in it and you can be a successful trader.
I agree with you. The process of learning has to be ongoing for any trader.
Newcomers should focus on others inevitable part of trading besides acquiring good trading knowledge. Controlling emotions , avoid revenge trading , overtrading , money management ,RR and much more things they have to observe for avoiding unfortunate loss.
The beginner should use demo account minimum for three months, sometimes many brokers organize demo contest with real money prizing. Newcomers can join here. It could be great to acquire real trading exeprince.
Shelby10 posted: Forex is very tough business, when you don't have any knowledge about this market. If you have enough knowledge about this market, it will be very profitable and easy.
You are right. Forex trading for the first time is always difficult, but with constant study and training, it will be easy. It can be difficult to understand FX, but once you understand FX, you can easily earn money by trading.
Yes trading is the most difficult business in the world, whether it's forex, stocks or commodities. That's why 95% people ultimately fail in trading. To be successful in trading you have to be skilled enough.
Forex is tough for those who don't have enough knowledge about the market. Without knowledge, you can not make money from this market. But, if you have all the knowledge about the market, you can easily make money.
Forex market place is a part of ocean where there is anyone who can survive in a proper way without most powerful analyzing trade knowledge; if you are a newcomer please go to pips School which is very supportive for the newcomers to acquire all fundamental knowledge. And trade a demo account at any broker, learning and practicing is a great combination and this can will help you must be if you try it.
Yes, you are right, trading is a very difficult business. It is very difficult to make a profit in this business. Without proper discipline and education, it is not possible to get good rewards from trading. You can't trade without patience. So it is not possible to trade without gathering knowledge.
@ElliotCooke exactly. I completely agree with you. Forex is difficult becoz it takes a long time to be skilled. Getting skilled is the difficult part. Once we know what we are doing, it becomes easier.
Yes, you are absolutely right, but the bottom line is that forex is nevertheless a pretty big risk and you can very quickly lose everything you earned ... think about it. For me it is much more profitable and profitable to come up with some kind of business plan, open a company and start making money on it .. Nevertheless, there are also difficulties here. For me, one of the main difficulties has always been creating a bank account for my company. This requires certain knowledge in the field of finance, as well as experience.
There is nothing like tough or easy business. it just based on how you play with it. If your only motive is to earn profits then off course its a tough business because you cannot be in profit always. If your focus is on learning the key concepts testing your strategies and gaining experience then its slightly easier.
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