Forex trading is difficult because it is not as straightforward as you think it is. You have to be extremely hardworking and patient. Most people lose the drive quite early on and give up. Keep your minds open.
Lousy volatility for trend trading. The Euro/USD used to be phenomenal...early 2000's. They're all dogs now, having to wait 1+ hours for price equiv moves you can get in 2-5 mins on a good futures market. Even if you tell a Forex trader (at the piker level) he can trade a mini HSI contract for $1.27 USD per point (200 to 450 pt morning session ranges) and it's the best trending instrument on the planet, he'll come up with some excuse not to even try to trade it. All you tend to hear is, "but I can't afford the futures margin requirements yet or I have a full-time job so I need something I can manage in hours, not minutes." Boo-hoo...now you know why you're struggling: half-A focus w/half-A volatility. When you have a full-time job, throw itty-bitty money at a routinely slow market, custom made to accept all the itty-bitty you have, it engenders a stubbornness and high ego level as the years go by because you can afford to waste small sums of money while keeping all of your bad habits intact. Forex pikers: trade just ONE HSI MINI FUTURES CONTRACT and I guarantee that you would never ever want to look at Forex ever again.
It's not for me.. I look at volume and momentum, that's all you need to be successful. Most traders over complicate things. Buy low, sell high and make sure enough volume is in the market, you'll almost never lose.. It's really that simple.
You sounded like you know how to trade so I asked but buy low and sell high is not as simple as it says... In fact, you need to buy when prices rise and sell when prices fall . Only this way, almost risk free return is achievable. Buy low and sell high is just a simple arbitrage activity concept which doesn't really work in the real world.
Forex is difficult because you simply don't know how wall street drives prices. That's as simple as that
I trade binary options and yes you're right it really isn't that simple. I'll just break down what I mean in the screenshot below.. I've noticed that almost all the volume in the market comes in after points of indecision. This would be me buying low on an OTM Nadex contract. This system never fails..