The posted question was Is Forex Trading Really Hard. Forex trading is not hard , but making money in a retail MT4 environment is. We all have our moments, but profits that you can live on is no small task. Handling risk and uncertainty is not such a simple thing to do. Efficient market + spreads + fees don't help.
cassiopeia
Active member
- Messages
- 155
- Likes
- 4
I'm not sure I understand the question. Harder than trading other instruments? What would be the order of difficulty relative to Index futures, Stocks, Commodities, crypto. There's also a lot of subcategories in all those. Also what timeframe are we considering? What's the point of trading Forex if some other instrument is easier?
Is Forex Trading Really Hard
That's the title of the thread; I took it as a simple question. I don't see where there is anything that has anything to do with whether or not forex is harder or easier than some other instrument. I think you're trying to overthink a simple question. That said I'm sure Henow1969 could clarify the question.Kaleb Rogers
Newbie
- Messages
- 6
- Likes
- 2
Trading is not hard, learning how to trade and being successful in it can be, but you can make these easier by having an in-depth knowledge of forex trading and regular practicing in a demo account. You should make some rules for yourself and make sure to follow them no matter what. Rules can include things like, no overtrading, not taking risk more than 2% capital per trade, use TP and SL and be mentally stable while trading, etc.
Susana Vecoli
Newbie
- Messages
- 5
- Likes
- 1
It is definitely a challenging market. But it is no different than any other profession. Your trading skills determine the success as a trader. As long as you have that, you can overcome all obstacles.
jonahelen527
Junior member
- Messages
- 23
- Likes
- 3
Even when every strategy and every move is already discussed several times on the internet, not many people are able to make money through it. Some just enter the market to lose their money. This makes it clear that the market is so unpredictable that even the most experienced trader has to take losses.
sometimes market never follows any trend , in that time any kind of trading knowledge actually not works , so this is really confusing market place.
It takes time to learn new things. It takes even more time when you have to do them and earn money from them. Sometimes, you may not get what you are learning or practising. Just like everyone can't be a doctor or an engineer, everyone can't be a forex trader either. It's about interest and understanding.
andrewborund597
Junior member
- Messages
- 28
- Likes
- 3
Forex is hard as well as easy to trade. Do not take success in forex trading to be a destination, it is a process in which there is learning in every step.
As one trades he learns and gains experience over a period of time. Eventually traders start making consistent profits. Forex is not a 'get rich quick' scheme and takes time to learn.
As one trades he learns and gains experience over a period of time. Eventually traders start making consistent profits. Forex is not a 'get rich quick' scheme and takes time to learn.
christopher35
Newbie
- Messages
- 4
- Likes
- 0
It is challenging to survive in the forex market if you don't have specific skills. Most traders lose because they become too hasty to make money. Forex demands learning, like other professions, such as engineering or medicine. Give it time. You will see the results slowly.
ThHomoasMoraz
Newbie
- Messages
- 5
- Likes
- 0
Let's say you believe that the euro will currently appreciate against the dollar. You give an order to open a trade based on this forecast. That is, you buy a certain amount of euros for a certain amount of dollars. If your prediction is correct, the trade brings you some profit (depending on how much the rate has risen). You can fix this profit by giving an order to close the deal. If your forecast is incorrect, the trade brings you some loss (depending on how much the rate has fallen). You can read more about working in forex trading at Day Trade Review.
rickhobbsonce
Junior member
- Messages
- 22
- Likes
- 3
Yes, forex trading is hard due to the ever changing market conditions resulting in high volatility. Traders need to be very careful while trading.
robmachine
Newbie
- Messages
- 5
- Likes
- 1
I tried forex for a while and wasn't very succesfull. I used the same techniques as for trading crypto futures but it was total different.
In the end I stopped trading forex and startet to expand my knowledge and the process in ongoing. Forums like trade2win are still very helpful because on Social Media the focus is always on crypto.
In the end I stopped trading forex and startet to expand my knowledge and the process in ongoing. Forums like trade2win are still very helpful because on Social Media the focus is always on crypto.
cassiopeia
Active member
- Messages
- 155
- Likes
- 4
Why choose Forex at all if it's so hard? Is it an attempt to obtain a more consistent return from using a wider range of instruments. Perhaps in a similar way to how a long term investor might wish to diversify their portfolio?
AriaS
Active member
- Messages
- 202
- Likes
- 90
A million dollar question that has 2 parameters to consider - how much you're enjoying it and how successful you are.
I started as a news trader back in 2014, during the golden era, and it was an immediate success. It was really hard, yes. I had to learn and work a lot, collect my knowledge bit by bit, but success is the greatest source of power. It made me enjoy the process a lot. Later, when the success vanished (the Brexit destroyed the news trading) I had to work even harder and without any return in the beginning. Months of periodic frustration. Even years. But the memory of the great success in the past kept me at it. I was nearly obsessed. It pays off today. So it all comes down to whether you really want to do it or not. And nowadays don't expect to some fast big money. As Jack Schwager has put it, "Amateurs think about how much money they can make. Professionals think about how much money they could lose."
I started as a news trader back in 2014, during the golden era, and it was an immediate success. It was really hard, yes. I had to learn and work a lot, collect my knowledge bit by bit, but success is the greatest source of power. It made me enjoy the process a lot. Later, when the success vanished (the Brexit destroyed the news trading) I had to work even harder and without any return in the beginning. Months of periodic frustration. Even years. But the memory of the great success in the past kept me at it. I was nearly obsessed. It pays off today. So it all comes down to whether you really want to do it or not. And nowadays don't expect to some fast big money. As Jack Schwager has put it, "Amateurs think about how much money they can make. Professionals think about how much money they could lose."
robmachine
Newbie
- Messages
- 5
- Likes
- 1
To find out, if Forex trading is (too) hard to cope with you have to try it by your self I think and the described way is also my way at the moment to find out if I can be successful.
Yea it means to invest time and energy but even if you find out that Forex trading isn't an option for you, the learning is a benefit by it self.
