Pros and cons of forex market?

Forex requires deep knowledge, the ability to analyze the market and discipline. Lack of experience can lead to mistakes and losses. Macroeconomic events, political instability and unexpected news can dramatically change the situation on the market, creating additional risks, so it is important to understand fundamental analysis in addition to technical analysis and control the release time of important fundamental news.

 

The forex market allows you to make huge profits in a short span of time, which is its pro, but the same profits can disappear in a blink of an eye, which is its con. The forex market is highly volatile, so a trader should know when to enter and exit a trade in order to avoid such a situation.

 

con - cost of doing business - that spread is a grand canyon.

 

Con= No centralized exchange ( except Currency futures)

 

No broker will provide their services absolutely free of charge, without charging commissions or spreads, because this is their direct income. But you can choose a broker with minimal spreads and reduce your expenses thanks to this. For example, my broker fxopen has a spread on the EURUSD pair that I often trade, which is only 0.1-0.2, which I consider quite profitable for intraday trading.

 

Forex is like a 24/5 casino where you can print money or blow your account faster than you can say “margin call.”

 

For me the pros is I can trade here anytime and from anywhere and cons is earning is a golden deer

 

Casinos are meant to print money for themselves and not for the players in my opinion. However, for trading we have to learn the market mechanics and enhance our analytical skills to read the market and act accordingly.

 

Haha, this is true. But mostly it depends on the broker, tbh.

 

I agree, I can trade at any time of the day or night, except weekends. It's convenient. You can also scalp or choose medium-term trading. I don't depend on the employer