The simple answer is no, let’s give you some context. I have been in financial services my entire life, I’ve advised the largest multi-nationals, I’ve advised the top oil trading desks, I’ve developed methodologies for hedge funds, my Father in La /01/19 · With a good Forex broker, a terminal you know, and a viable strategy, you can succeed easily. That said, do make sure that your Forex broker is reliable and is not going to scam you out of your blogger.comted Reading Time: 3 mins /06/12 · It is indeed possible to make money trading Forex and plenty of people manage to make a consistent income trading Forex daily. But it is a false statement that Forex is easy money. Typically, when a trader signs up to start trading Forex, they do so under the false illusion that it is indeed an easy way to make blogger.comted Reading Time: 9 mins
Can I really make money with Trading/Forex? - Quora
Many times this question comes from retail traders that are not finding any success with their trading approach. How do I know trading Forex can be profitable? In can you make good money forex trading, you can take a look at my free Forex chart setups that I post every week using technical analysis and then update any trades at the end of the week.
Everything in those chart is for one reason: To teach you how to use a simple approach to trading Forex to make profits. If you do not understand risk…if you do not manage your trades in the proper way, you will lose. If you are risking too much per trade to withstand a string of losing tradesyou will be out of trading faster than you imagined. If you continue to move your stops around to avoid taking a loss, you will eventually lose your account.
You have made a trading plan complete with which setups to take, how you will exit, where you will take your loss. Day trading is popular but swing trading currencies is how I trade the retail market. If I day trade, it is not often, is not Forex, and is done in the Futures markets with the occasional options trading play. Your job as a trader is to execute the trading plan when your setups take place.
You enter your trading orders, manage your trades, and take your profit and loss the way it is set out in your trading plan. Consistency matters when currency trading and if you are applying the trading plan in a consistent manner, you should be able to reap the rewards of the edge your trading plan gives you. You will take a loss and sometimes many in a row.
You will see your trading account fluctuate and it can be painful to see at times. The expectancy of your trading system is what should keep you glued to the trading plan during the times of an equity curve down swing.
These are the realities of trading and if you are asking about being profitable over can you make good money forex trading long runthe answer is yes if you are trading a positive expectancy trading strategy.
One week of loss or even a month of not being profitable does not make for trading failure. It must be expected. You must expect to lose and also to imagine that you have yet to take the biggest loss of your trading career, can you make good money forex trading. You read that right. Think that you have yet to experience the most painful loss of all. Expect that a multiple of risk loss is around the corner.
It will remind you that the biggest trading job you have is trading your emotions for a proper mindset and to protect your trading capital.
Forex money management is simply about risk. In short, if you take big risks, you can make a lot of money in short period of time but the bad side of that is that a few bad high risk trades and you lose a lot.
Wins and losses come in a random distribution. Learning Forex money management is the easiest thing. There are many books written about the trading mindset but before I list a few — a great mindset is useless if you are trading a flawed trading strategy.
Break out a pen and paper and jot down those four ideas about can you make good money forex trading. Expand on them and ask what they mean to you. By using that one word, I am assuming that everything from your trading plan to the Forex broker you will use has been detailed. The job you have trading currencies is to implement that trading plan. With consistency.
Traders that do everything in a consistent manner are sticking to a proven edge. More importantly, by being consistent, can you make good money forex trading, when a trader is not seeing their profitability increase or they are seeing their profit drop, they can zero on each step they take to find the issue. It is difficult to find where a problem is if you are constantly switching gears. Too much trust goes into the word of someone else — someone who is not responsible for your trading account.
In the end, I believe everyone has the chance to become successful and profitable when trading. The issue is if they will take the steps required to do so.
There is no magic. I hope my trading blog and the setups I post every week are helping you gain some ground in your quest to be a profitable trader. One question that comes up a lot is: Is Forex Profitable?
Your trading approach is much more than a trading strategy and we will cover that later. The short answer is yes, Forex trading is profitable. Your second job as a trader is simple: Enter trading orders, can you make good money forex trading. RELATED 18 Advantages of Forex Trading Compared To The Share Market, can you make good money forex trading.
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/05/11 · THE AMOUNT OF MONEY YOU CAN GAIN TRADING FOREX. A lot of people often ask this question. The simple answer is nobody actually knows the exact figure you can make. Your skills in forex will give you an edge in making a huge amount of money from forex. The exact amount of money you make depends on your activities in the blogger.comted Reading Time: 8 mins The simple answer is no, let’s give you some context. I have been in financial services my entire life, I’ve advised the largest multi-nationals, I’ve advised the top oil trading desks, I’ve developed methodologies for hedge funds, my Father in La /06/12 · It is indeed possible to make money trading Forex and plenty of people manage to make a consistent income trading Forex daily. But it is a false statement that Forex is easy money. Typically, when a trader signs up to start trading Forex, they do so under the false illusion that it is indeed an easy way to make blogger.comted Reading Time: 9 mins
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