Hard Truth About Forex Trading

[Bubudaddy]

In the event that you view the numerous Forex sites, gatherings, courses and magazines, it appears as though everybody's making a great many dollars exchanging Forex! The thing is, Forex merchants love to discuss their triumphant exchanges and portray themselves as stunningly beneficial dealers, however actually just 5% of Forex brokers are reliably bringing in cash. Indeed, even a novice can bring in cash in Forex exchanging, however there's a major contrast between bringing in cash in Forex and making a full time pay, accomplishing independence from the rat race, and creating financial momentum through Forex.

 

[Jasz]

As a Futures and Forex trader, you know that it is a constant challenge to master your trading. Becoming an exceptional trader with the right mindset - trading with an edge - is not an easy task in today's fast moving market. You need to be on top of the competition, yet finding focus on what works for you as a trader.




There are hundreds of forex courses and education programs out there. Many of them claim that their recommended method will allow you to become rich in a short period of time. The reality is that only a very small percent can do it, most earn unrealistic money. Survival into the "forex jungle" is not easy, as you need to find a system that makes money most time, no matter what kind of market condition exist.

 

[Dita Walczak]

If I want to trade Forex, I have to manage the plan and risk and trade. If the risk is not managed while trading, the profit will be very difficult. Therefore, every trader needs to manage risk and trade.

 

[Neuroid]

When you are deciding to trade forex, you are nodding to taking risks. This also means that you will have to build your own trading plan that is in accordance with your risk appetite and if any losses occur, you are already prepared to manage them.

 

[Chlamys]

Forex trading is for those who are flexible and can easily adapt themselves to changing market conditions. They know that the market is never still and in order to make some good money, they will have to keep moving along with the market. If they don’t, the market will eliminate them.

 

[moonchild]

Facts, Solid Facts.

I just realised that recently, Forex is not meant for the average Joe, I think it's the fantasy that the self acclaimed Forex guru sells that draws a lot of gullible and innocent people into the world of FX, I believe that there are a lot of profitable traders but again it's just the pareto principle that's working which means 80% of the profits made from Forex is from the 20% traders, the remaining are just gambling their capital away, day dreaming vacations to Mexico sipping margaritas, haha.

The earlier people wake up the better, money is made when value is created, ask yourself what value are you creating by involving in FX trading?

Forex is difficult on its own to even demotivate people from joining but reverse is the case, everybody wants to trade and become the next George Soros, well cheers to that.

 

[HeavLeighGill]

It's difficult to bring in consistent profit. Someone might make a little money here and there, but actually sustaining that is a different story.

 

[sincerem]

I really don't see any chance for a novice forex trader to make money off trading forex. Forex trading isn't like gambling around sports betting or any type of gambling market, it's simply a game of experience, experience speak the least for a trader. Any one who isn't experienced around forex trading, wouldn't make something out of forex market. I don't trade forex, because my experience is below par, not up to standard to make me money. Since I wouldn't risk it all for myself as a novice, due to lack of proper ideas to execute and make money off trading forex I simply stated far away from forex market to avoid heart breaking losses.

Any one knows what works for them properly, I don't see forex trading working for me at this point in time, because, I never exacted my time to learn what is required at least to start making money trading it. Anything you mind is made up on, and you exact seriousness on it, surely you'll come to earn from it with time, because you'll definitely learn from it, provided you're following the right steps. I am simply into crypto, I am focusing my mind on the investment option to earn with time, because it isn't a get rich quick scheme.

 

[Sotherefore]

To me base on my experience with cryptocurrency which I also believe forex trading is almost the same , the only hard truth about this is that you are not likely to make money when you don't understand how to do it and without proper understanding the possibility of losing will even be higher because you won't even have a position to gain anything.

People who are able to make money with forex trading are able to read complicated chart indication which possibly indicate a positive buying signal and sometimes a negative selling signal and if you cannot be able to do this professionally the possibility of making money won't even be there at all.

It is also believed that people who are being introduced into trading of the volatile market are made to believe that it is an area of online business that you can be able to make quick profit , but based on my experience you won't be able to make a single money when you are not trained to be a professional trader.

That is just the reason I don't just want to engage in cryptocurrency trading because I just want to spend a lot of my time to learn and understand everything about it

 

[btaliat]

There is always two sides of the coins. There is always many people making it through a scheme and the one that are losing at the other end. But the fact is that we don't need to jump into conclusion based on the view of some set of people.

Those that are making more money off forex must have known all what it takes to make money though it. They are the ones that have studied both the fundamental and analytical skills and know how they are used. Not only that they know how to use the appropriate leverage and they use the right tool to reduce their loss chance.

The novice are the ones that do fall victims of constant losing in forex. They don't know much about forex other than the fact that it can fetch money. They don't even bother to know how it works and they do carried away by either greed or fear. Most of them even use more than what they can afford while staking their positions and they use leverage wrongly.

 

[Bookwormlux]

I really appreciate the fact that you are trying to be realistic here about what forex trading really entails and not trying to paint it the way people are currently doing or me I've been doing in the past and making it look as if forex trading is a system where one can just come out from nowhere and then turn it within a twinkle of an eye.
This is the major orientation that a lot of people get about forex trading and then they go ahead to do extreme things like taking loans to invest in forex trading only to realise that it is not working the way they were deceived into thinking it is.

 

[Tactical]

So true! The way the market is represented by so called “influencers” is beyond terrible. It’s their tactic to lure more and more people and loot them. Nobody becomes rich overnight, especially in a financial market. If people realise the risk,they will have better experience and expectations with trading.

 

[LaneBall]

Forex is not as it seems to be. There are several downsides such as stress and other emotional triggers. Moreover, many are under the false assumption that forex is a gateway to riches but in reality it takes years of persistence and hard work to become successful.

 

[Eduard Hahn]

Contrary to popular opinion, the hardest truth about the forex market is that the prices in the forex market are influenced by a number of factors and it is definitely not a path to easy success. So, no matter how hard you try to analyse and predict the market, you can never be hundred percent sure. Always remember that just like any other business, it is hard to establish a successful career in forex.

 

[brindagladden]

The biggest truth about forex trading is that what you read in the books or on the internet is not what you see in the market. The educational material usually makes you well-versed with the basics and some ideal conditions. It’s only after trading that you get to know how wild the market can seem at times. You might expect it to go in some direction as per your analysis but it goes in some other direction. It takes time to get a grasp of everything.

 

[Wordsmith]

The hardest truth about forex trading is that you are alone in the market. Your losses are someone else’s profit. So, believing that someone is going to help you in the market is utter nonsense. You have to work for yourself and when you have no clue about what is happening, it’s smart not to trade at all.

 

[Setho]

And here are so many people who have learnt about forex especially from social media and as such they do not have the opportunity to be able to learn more about the industry and the things that are happening here .

First of all it is important to know that not everybody is going to be successful with forex trading and that is actually very ok . This means that you have to put extra work if you want to be successful in this space at all .

There are a lot of people who also think that they are going to be become millionaires in a week and that is actually not true. The fastest way to making money on the forex market is by seeing it on a slow and steady basis instead of trying to make it all in one night .

When painful truth about forex market is that some people who always want to do it the easy way by using of programmable bots. The forex market is something that is constantly changing and even though this artificial intelligence can help you in making decisions they are ultimately not going to be accurate all the time especially across training cycles.

 

[pawelkolasa]

Forex trading is a potentially profitable market for making money but it has downsides that can’t be neglected. The market can become highly volatile and lead to losses irrespective of how hard you work. Forex trading requires traders to have a good emotional balance to tackle the losses caused by the uncertainties of the market.

 

[Shrubbery]

These days there are so many traders who are there to help you understand the market. You can simply talk to them and discuss your queries and know everything from the perspective of an experienced trader. But just don’t believe all that you read because there is no dearth of scams in the market.

 

[Revetment]

I think the hardest part about forex trading is knowing that no matter how hard we try there are certain entities that intervene in the market making it impossible to make winning trades.