Trading Discussion Your motivation behind forex trading

[Razor1911]

People join forex buisness to earn money, despite knowing that it is the riskiest of all the online earning platforms. The risk factor is so high here, that it is supposed to be 95% of the traders lose here. You can imagine the intensity how much risky it is.

But despite this also, people prefer to earn from here. The main reason for them to join forex is the earning potential. Yes, forex has high risk, but with that risk comes the rewards. There is no second thought that forex trading is high rewarding platfrom.

In such a highly uncertain business, everyone needs motivation. There are times when we might feel low after losing money. But when we have motivation to earn despite such losses, that will boost our morale. What is you story behind your motivation in Forex?

 

[Sotherefore]

I do not trade forex actually but I am into trading of of cryptocurrency because I just consider that as the best form of trading for me,my motivation is that I've seen a lot of people that are making so much money from trading of volatile market and they are the one that actually motivate me to engage in trading.

 

[Razor1911]

I do not trade forex actually but I am into trading of of cryptocurrency because I just consider that as the best form of trading for me,my motivation is that I've seen a lot of people that are making so much money from trading of volatile market and they are the one that actually motivate me to engage in trading.

Crypto currency I think a bit riskier than forex. I have made this conclusion on the basis of volatility. The crypto market moves very high from top to low, just like today the market is down by more than 7%. In forex market the fluctuations normally remain very less. Usually less than 2%.

 

[btaliat]

While to earn is the number one priority why most people join forex. Some or many people may still have many reason why they join forex. Some are there because most of their friends are into it and we all know strong peer pressure. The very first time I joined cryptocurrency, my friends persuaded me and I didn't have option not to be left out amidst them. I didn't join primarily for the money

 

[Lens1000]

My motivation usually is from when I made a huge profit trading forex. I have always tell people that forex is highly rewarding and less volatile when compared with bitcoin, and it is more liquid than bitcoin.
My motivation also come from the use of sufficient trading tools that enable me to set an entry and exit order when trading

 

[sincerem]

People come into forex with the motivation and drive to earn fast money that's why it is backfiring. With the way you speak, it seems you're an expert trader you're always on sharing topics centered mainly on trading forex. No doubt forex trading is very much profitable for those who are experienced enough, understands the market, and not for the inexperienced.

 

[Sotherefore]

Crypto currency I think a bit riskier than forex. I have made this conclusion on the basis of volatility. The crypto market moves very high from top to low, just like today the market is down by more than 7%. In forex market the fluctuations normally remain very less. Usually less than 2%.

Wow,yes I know that is what is happening in the cryptocurrency system but even with that when I was introduced into trading on forex on demo account it was difficult even when I was using $10 to trade there are sometimes I'll come and see -1000, which is not likely to be possible in cryptocurrency with just $10, I want to believe that forex trading is more volatile and difficult to trade than cryptocurrency.

 

[Dora Wi]

Forex is indeed very risky, but the good thing is that there are ways to manage your risks, such as calculating risk percentage or risk-to-reward ratio. That can help minimize your losses.
Like others have pointed out I also think forex is not the riskiest - crypto is riskier, plus the stock market bears similar risks to the forex market.

 

[Razor1911]

Forex is indeed very risky, but the good thing is that there are ways to manage your risks, such as calculating risk percentage or risk-to-reward ratio. That can help minimize your losses.
Like others have pointed out I also think forex is not the riskiest - crypto is riskier, plus the stock market bears similar risks to the forex market.

The risk is manageable. when we trade in forex which is a risky market if we have proper risk management then that will surely help us to minimise the risk. The primary goal of every trader should be to minimise the risk at first. Making profit is everyone's target but minimising the risk is also very important.

 

[Dora Wi]

The risk is manageable. when we trade in forex which is a risky market if we have proper risk management then that will surely help us to minimise the risk. The primary goal of every trader should be to minimise the risk at first. Making profit is everyone's target but minimising the risk is also very important.

Good point, I see so many people focus on their winning trades and put too much emphasis on what percentage of their trades are winning vs losing, while so often they lose money because they don't pay attention to how big their losing trades are due to poor risk management.

 

[Chibson]

A lot of people have different motivation for venturing into anything. Some people's motivation is the fact that there are people they know who that are successful in it. Other people's motivation may be that they have read a lot of things about eating and watched videos. So generally people have different motivation for venturing into anything.

 

[Suba]

When entering the world of forex, every trader will certainly have different motivations, many traders do forex trading just because of a hobby and they will be happy and diligent to sit for hours in front of the computer to monitor charts and analyze various factors, as well as many forex traders who have fallen in love with the techniques, challenges and excitement of forex trading. There are also traders whose motivation is to get additional income, there are also many traders who are motivated and make trading their main job or we know trading for living (not living for trading), most of these traders will rely on robots. So basically motivation will affect your strategy and trading style in the future. Personally or my motivation on forex is a fun challenge, and I want to make a profit from it. So all traders must have a reason or motivation so that they survive until now.