I agree with you. Forex trading is profitable only when you have learnt the trading strategy and you are well versed with the market trend. Otherwise, it can be a highway to enormous losses
Yes. No doubt its really sea of money. But many will not believe until they catch one. Same as fishing in sea, here also you need to know fishing and should have the best fishing net.
It is a sea of patterns, always changing and never the same. The key is to ride only the same waves. Ultimately one needs to know the ocean floors and what is a cause of the moves, you must go beyond the surface. One needs to ride certain breaks, and only those breaks. Not canvassing the globe looking for the best break. Surf break - Wikipedia en.wikipedia.org › wiki › Surf_break A surf break (also break, shore break, or big wave break) is a permanent (or semi permanent) obstruction such as a coral reef, rock, shoal, or headland that causes a wave to break, forming a barreling wave or other wave that can be surfed, before it eventually collapses.
I am agree with you Foex is the sea of money but only when we have good knowledge and have a good strategy for trading. If you want to be rich quickly with Forex trading then it is not for you, it needs a lot of education, skills, knowledge and strategy.
Forex allows you to earn only to those who spend their time and energy on this time. Otherwise, I would not even recommend trying.
every business has a good opportunity if you actually know how to manage money, in Fx trading generally we thnk only good knowledge and experience can bring good knowledge and experience, but in practically MM is foremost element besides these.
Forex on itself is not bad. The broker you are trading forex with, mostly is bad as in general he puts your trade in his books, being the counterparty, and when you want to close your trade he already knows what your position is. I many times got bad quotes because the "bookkeeper" watched what he would quote me depending on his overall position. It was remarkable that my contactperson at the brokerage several times told the "bookkeeper" to give me a better quote. I trade above average volume, was profitable so he needed to keep me alive for his commissions. That confirmed that forex spot trading is bad. When I started to trade currency futures I was much more profitable as the broker could not manipulate the prices anymore.
I daytraded in the early 90's forex with (at that time) one of the biggest brokers in the US. And yes they were cheating all the time. So it is not limited to "some obscure offshore FX broker located in some exotic island".
Forex really allows traders to make good money, but do not forget that the sea is nature, and it is too strong.