according to me , there is no challenge to be a Forex trader but there is a challenge to a successful trader.
the successful trader is a trader who can predict the real faction of this market with certainly. this is really difficult ability with great level of challenge
My emotional control over winning trades, like many other trades is less than perfect, probably a 6 out of 10. That is why, I took the step to start managing it which has been profitable.
that is really a good approach , when i fail to control emotions really fall a great trouble and do huge losses. from starting of trading i have been doing this mistake.
i think you can develop from this condition by strong mindset , otherwise no way to survive successfully from this volatile trading place.
The market is unpredictable that is the biggest challenge imo. Surely, if you follow money and risk management and secure your risks, everything will be fine.
most of the time , we traders fail from this trading place due to lowest trading knowledge , and sometimes after having good trading knowledge we fail to get profit from there. so its really a challenging issue.