What Makes Money in Forex Trading?

[moonchild]

Forex trading has a lot of moving variables, there is the trading part and their is the trader part,, some people believe that what makes money is your skillset and how accurate your strategy is, and the other party strongly believe that it's your mental state and how strong your will is to follow your plans and rules that will make you money in the markets.

I think the latter is where I will put on my money, because their have been bots and countless of them that have been created to actually mimick some of the most profitable trading strategies but they failed to produce the desired results.

But a person, that actually conquered himself can go into the market and trade profitably if he knows only the basicz.

 

[FinTrader]

I agree that only a balance of technical and psychological training can make it possible to make money on Forex. You can have a good strategy, but being a greedy, undisciplined and unable to wait trader, you will not be able to make a profit here. It is also important to trade with a reliable broker with favorable trading conditions (I chose fxopen) in order to minimize your non-trading risks.

 

[tray59]

In forex trading I believed that it is you that can decide the amount of money which you want to make the level of skill which you have is the determinant of how much you will get that is why it's practically specify that you will need more knowledge and skills you can learn well from your demo account and aquire the needed skill it's through your knowledge level that you can succeed know how to conduct both technical and fundamental analysis properly before you continue