Is it wise to rely on Forex only?

Discussion in 'Forex' started by Waylen, Mar 2, 2024.

  1. GoldDigger

    GoldDigger


    I think you answered your own question.

    If Forex is not profitable for you, then you need to do something else.

    Try regular day trades or options or whatever.

    Forex is not the only thing.

    You should never rely on only one anything.
     
    #21     Jun 9, 2024
  2. shine

    shine

    I think that first you need to try very hard to make forex trading your additional income, and only then look and think whether it can be made your main income)).
     
    #22     Aug 14, 2024
  3. Alexis_0

    Alexis_0

    I would suggest to explore other ways besides forex because forex doesn’t guarantee consistent profit.
     
    #23     Aug 14, 2024
    shine likes this.
  4. shine

    shine

    Yes, we spend some money on living every day, so we need a more stable income, and forex trading can be used as an additional source of income. But it is important that forex does not take away a lot of your investments, which you can lose as a beginner. Therefore, it is better to start with a demo account, I did this when I was studying trading and technical analysis, and after developing and testing my trading strategy on a demo account, I opened a small ECN account with my broker fxopen, which allowed me to open it starting with just $ 100.
     
    #24     Aug 15, 2024