Admoni posted: At present Forex is definitely a profitable business. The first thing as a newcomer you need to do is learn everything you can about the market . then before you get a real account , get a demo account and practice as much as you can so you will get a better idea about the market. You probably should use the demo account for months. However , if you feel like you are ready , then by all means open up a real account.
Although it is also a tool that is ready, you should try the demo. It is always better to play it safe, at least in the forex. There is money and sometimes a lot, at risk.
The question is not structured right. Profitable in comparison to what? Also profitable for one person may not be profitable for other person. It depends really what you are trying to say. I wouldn't say Forex is 'THE MOST PROFITABLE BUSINESS' - there are way more profitable different things...
Profitability on forex exists. However, because of the high risk of losing everything, I wouldn't make forex my main source of income. But as an additional source you can. But don't forget that invest too much your free funds in forex is very dangerous idea.
If you want to be profitable by scalping, first of all you have to ensure the lowest trading spreads. devoid of lowest trading spreads that’s not possible at all to make profit by scalping at all in spite of good trading knowledge.
Mohammadi posted: If you want to be profitable by scalping, first of all you have to ensure the lowest trading spreads. devoid of lowest trading spreads that’s not possible at all to make profit by scalping at all in spite of good trading knowledge.
Do you think, trading spread is more important than having a good scalping trading strategy? I am really interested to know your opinion.