Is Forex Trading Really Hard?

[PhoneticNachos]

At least 95% of traders fail long term in forex.

Less than 1% are profitable past a four year consecutive point or longer.

As someone in that 1% threshold, now going on almost nine years, every single other trader I have known has failed/quit/dropped out of forex.

Scammers are a big problem too, one of the worst is ICT, and all the brainwashed cult sheeple who try to convince bigger fools through their rebranding nonsense called laughably "SMC/ smart money concepts".

 

[Zerologic]

Forex is indeed very hard, reaching the peak of success in forex trading is not as easy as many beginner traders imagine, but the potential for profits in forex is also unlimited, only what limits traders' profits is limited trading skills. The market is very dynamic, besides traders trying to work with trends, the role of money management and risk management is very crucial for survival.

 

[Zerologic]

It is also psychologically difficult to trade on Forex, when many traders cannot control their emotions, they often have fear, haste, greed or excitement, which leads to failures and losses.

Psychology is the problem most traders face, some traders may choose to use trading bots because they work without emotion and rely on algorithms, but trading with trading bots makes trading costs higher, apart from buying software traders also have to rent a VPS and usually trading bots require bigger trading capital to survive.

 

[Zerologic]

I have also tried testing several trading robots, but the result was a failure, even though at the beginning it seemed to have good performance but over time it caused margin calls. Maybe a robot also needs to be driven manually, so that when trading bots are deemed dangerous traders can cut losses manually.

 

[nordikinvest]

I think like this.. Who use robots? Big institutions and banks... with large amount of money, so if they get a signal they can use a robot to trade with a large amount of money to create a tendence where they want to make money... Who make that robot? maybe a programming team with help of the institutions traders... How it cost? who knows? maybe 10 000k? maybe more? They still can lose money? Sure, nothing in life is 100% sure... it could be best robot ever made... it will fail sometimes! My opinion, its better to study and trade by your own hand