NOT this again. Another forex wannabe guru telling people how easy forex trading is. It's so easy that over 80% of traders lose. In fact... forex trading is hard and demanding.
Ofcourse forex trading is hard just like another trading businesses. But your mind is the biggest problem. If you can build the necessary discipline, you are on the right path to become a successful trader.
Here is a good article that breaks down why so many lose, based on a brokers study of 43 million trades. This is a good place to start. In a nut shell: novice traders obsess over entry signals & neglect risk/trade mgmt, winners make risk/trade mgmt priority #1. https://finance.yahoo.com/news/why-many-forex-traders-lose-070700862.html
Yes, you are right but I have mentioned that without knowledge and skills you can not be successful and forex can be hard for you to do.
right. 99% of the retail forex traders lose money. years ago, there were currency wars. when there were currency wars, the % of forex traders losing money was definitely lower (but not very much lower).
@Coner1980 I’m sorry to say that but I can’t agree with even one thing in your post. It takes a lot to just survive this market. It’s not that I keep losing and refunding the account just to stay here. Staying is different from surviving the market and every trader needs to do the latter. Moreover, it's not enough to just know what forex is. You need to dive deeper if you really want to pave your way in this market.
Forex could make you a millionaire, or it could lead you to bankruptcy, You need to have proper knowledge and skills to survive for long in the Forex Trading.
according to me every platform is good if you have good knowledge and experience , if low trading experience there is no chance to survive successfully.
Yeah, I find most convenient to trade at MT4 despite its old design its quite powerful platform with plenty of guides and education materials.
Forex not a good platform but it can be a great platform if you can make sure all inevitable parts of trading , otherwise trading life could be dangerous.