IS TRADING WORTH IT?
Forex trading is not something new. Its history is as old as the history of money. But the way that retail forex traders trade currencies now, is somehow new. It is done electronically and through the Internet. It is almost 100% automatic and it needs no human touch to complete the exchanging process.
Potential of Forex trading
FOREX, often referred to as FX or FX slots, is an international market which remains open for 24 hours for 5 consecutive working days every week. The market has constantly been expanding and currently transactions of more than $3 trillion happen every single day.
Imagine you had all the knowledge and market insights. So, how much money you can make in the forex market? There is no limit on how much you can make! You can make millions of dollars. Anything is possible which is why so many people try to learn how to trade.
Become A Profitable Forex Trader
You have to have three things to become a good and successful Forex trader:
- Knowledge
- Experience
- Proper mental and psychological condition
And there are two very important things that you have to note:
Your Mindset:
I always emphasize on this fact that making money through Forex trading is not as hard and complicated as what novice traders think. Almost all of those who start trading Forex, have a mentality and mindset from their past experiences. They “believe” that making money is too hard, because most of them had a hard time making money and covering their expenses.
What happens when you start a new business with such a mentality? It will not work, and you will not succeed.
"Whether you think you can, or you think you cannot, you are right.” -Henry Ford
Your Financial Situation
The second point I have to share with you before I help you become a profitable Forex trader, is about your financial situation. There is something very important here that you have to know.
You can’t make a living through Forex trading. I mean, Forex trading cannot be known as your only source of income and full-time job. Forex trading is an investment opportunity to increase your wealth and make you wealthier.
Therefore, if you don’t have a job and source of income, or, you have a job but your income is not enough, you have to establish a reliable and strong source of income first, and then use a portion of the money you make to make more money through Forex trading.If you don’t do this, focusing one Forex trading will be nothing but wasting of time and money.
As a Home Business
Trading is a great business and you can make a lot of money through it while you don’t have to leave your home. However, you have to become able to analyze the markets properly and find the strong trading opportunities. At the same time, you have to have proper mental and life conditions, so that you can do your job as a trader with peace of mind.
Free Lifestyle
Trading forex is a fun and energetic lifestyle. Life isn't all about hard working! With successful trading forex you can retire and go on vacation. When you want to trading forex! Wi-Fi, that's all you need!
Start your free lifestyle from the basics of the market!
It depends on what you want out of it?
I wanted to be a professional. I was willing to put in the years and money to make it happen. So for me, yes, it was worth it.
However, if you are looking for an easy path to money, forex trading is one of the worst ways to achieve that goal.
It comes down to expectations. What are they? Are you looking to be a professional and have a shot a making it a career, or maybe just as a hobby? There is no wrong answer, just understand the road to a net-winning trader is long and hard. There is no shortcut, don’t let people fool you if they tell you there is.
Good luck,
Caleb
Caleb
One of the greatest things in Forex trading is that you have complete freedom to manage your time.
There are more individual Forex traders now than ever before and the number grows daily.
The forex market is an investor's dream come true.
Many people have left high-yielding careers to start making money in Forex trading and become full time traders.
And trading can make your life easier in other ways too.
However, it’s not ALL GOOD option, alike each and every spheres of life, as there are as many as 80-90% naïve traders who witness account wipeout.
Also, its too liquid, the world’s highest volume bearing financial market, and any changes in the global economy may have higher repercussions.
Hence, trading forex has its own pros and cons but it’s always better to take the risk (though with proper calculations) if you’re likely being rewarded better.
Read this article relating to Forex traders’ like in order to know more about this aspect: https://admiralmarkets.com/analy...
Yes, it is worth it. But only if you are a serious trader who could spend a lot of time and dedication in this field.
But if you are one who would just like to try if you will be able to make money, then do not try it. It is very normal to lose at first. And a lot of people easily give up with that.
If you really want to give it a shot, do not just do it yourself. Seek the help of a professional, so someone may be able to guide you and minimize the risks of losing. Find a reputable broker.
It’s worth it if you have a system that’s able to generate you some nice profits.
If you don’t have a strategy or system you’ll be gambling and sooner or later you’ll start losing money.
I've been finetuning an automated trading software for the past 10 years, implementing self made indicators/datamining from social media (twitter/linkedin/instagram/facebook) in order to find the best entry and exit points,
Because of this, we can buy and sell positions with a higher accuracy.
If you would like to know more on how to use a good system feel free to contact me through info@loop-strategy.com
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