Forex Trading Is Hard, But That's Not All

[moonchild]

Forex Trading as we all know is the process of buying and selling currency pairs by analysing the charts and placing orders.

Anybody can trade forex, that's what is clamored all over the industry yet more than 80% of traders lose their capital day in, day out.

You might think you'll create a badass strategy that will outsmart the market makers, the Goldman Sachs or Wall Street traders, you get lost in the world trying to get the holy grail, a lot of time passes you by without achieving anything tangible.

This is the reality for most people in the industry, yet they'll think there big break is close, they'll soon buy a house in Beverly Hills, haha.

In my opinion forex is hard as it is but that's not all.

Because the only people that makes it big are those with big accounts already, remember the old saying? 'The rich keeps getting richer and the poor gets poorer' the perfect definition is in retail traders.

A forex trader trading with an account of $100k aims for 2% monthly which will cumulates to 24% In a year and $24,000 in profits, will take only high probability trades and will always make sure the risk to reward is even out, this will give him an upper hand in his trades because he won't bother taking much trades.

But on the flip, we have the average retail trader with a measly $100 that wants to make $10,000 before the year runs out, this trader will be prone to more losses because he's under pressure and because of our hard wired mentality as human beings we tend to take higher risk when we are In desperate situations, he'll end up blowing his accounts at last.

I hope you've learned something from this post.

 

[Jasz]

For many, the idea of trading currency is appealing in theory, but difficult in practice. Even though trading forex has been around for almost 30 years, it's still difficult to master. And although there are many reasons why someone might be interested in trading currencies, the barriers to entry are high. This has led to a lot of misconceptions about what actually happens when you trade.

The truth is that forex trading can be an exciting and lucrative opportunity, but it's not nearly as easy as most make it out to be. The nature of currencies is that they're very volatile—which means they can change quickly and dramatically. For instance, if you choose to sell a certain currency pair at one price, there's no guarantee that its value will drop—but there's also no guarantee that it'll increase either. This makes trading a risky venture.

In order to become a successful trader, you have to have more than just experience and knowledge; you need support and guidance from people who know what they're doing. So as optimistic as you might be, you should know anything can happen. You should be prepared for any outcome.

 

[eldavis]

Though forex trading is hard but there are still people making alot of profit from it. I agree with you that to earn well in forex trading, you would need to fund your account with a pretty good amount of money, but that does not mean it's Impossible to make profit in forex trading a small start up capital. I have seen cases where a person grew his account from just three hundred dollars to a thousand dollars within a year. The major key you need to succeed in forex trading to study and learn. Keep on studying the market and see every loss as a lesson.

 

[Kingsley]

Anyone who is not prepared for something always find that thing hard or difficult. Even a student that is not well prepared for his school exams will always complain of the questions been presented to him at the examination hall. This is the same for anyone that has not gotten adequate preparation for the type of business they have decided to venture into. When it come to forex trading there are alot of complexities that needs to be understood first before stepping into the market. Forex market is been controlled by the forces of demand and supply. and so it is quite difficult to predict such a market, even if you are good at predicting there will always be space for errors aswel. Because I have seen experts in the field making losses aswel. This are experts let alone some a novice who is trying to set foot into it without properly understanding of how the system works. It will really spell doom and such person should be prepared to loss his or her asset.

The market plays on one's intellects, And it always checks ones greed level. It can be very tempting when you are making profit and before you know it will become a loss.

 

[btaliat]

To be honest, the poster has said the bitter truth about forex. It may be nice and sound easy while reading about forex on theory, the reality will only dawn on the trader when he tries it out.



But that doesn't mean the forex code cannot be cracked. You need to meet with the expert for them to put you through on how to do it. You need to dedicate time for yourself by carrying out different researches on how trade can be done on the schme.



Then we need to put considerable amount if truly we are serious with the scheme. This is because the money will pit will determine the gain we want to make. The only reason why people are scared of putting much money is because they may be scared of losing large amount of money. That's why I recommend knowing everything about the scheme first before trying to invest in it.

 

[Mary Frederick]

90% of the Forex traders fail in the market just because they don’t know the right tactics of trading. Most of them are not interested in learning too that carries a bad fate for them. Eurotrader not only allows traders with a 111% deposit bonus but also provides all technical tools for market analysis.

 

[Asahi]

There are different brokers offering multitude of facilities to traders.If you are investing in Forex for the first time, you should start with small investment. Sometimes good brokers offer traders free educational program. Eurotrader allows traders with a 111% deposit bonus.

 

[Exoculate]

Thanks for the post, it’s written well. I totally agree that most people lose their money and this is why your strategy must be good enough. Along with knowledge and skills, you also need to control your emotions properly. Psychology is indeed the most crucial thing while trading.

 

[Ivo Zetticci]

Long term trading is a kind of trading hardly favored by traders because it takes much time and comes with high trading risk. Use indicators and market analysis and consider global market situation as part of this analysis. Eurotrader uses smart bridge technology so traders can enjoy a good trading interface here.

 

[Dita Walczak]

To be a good trader, you must be a technical expert. As Forex is a volatile market, it’s supports and resistances change at times. We have to recognize them so we can be successful by the end of the day. Technical analysis will help us catch them. FXOpulence provides traders with all technical tools.

 

[FXOchartist]

Yes not all trader get hard to increase profit, each trader has own journey in trading career, despite we often hear 90% traders fail in forex and the rest only 5% profitable. However, we can get inspiration if possible make good profit from trading from the first rank in forex trading championship 2023 at forexcup.com, the first standing position make profit 1300% this is amazing.