I thought that Forex trading is easy but people who I know have done that told me that it is not that easy. They told me to succeed, you need to invest a lot of time, money and effort. They said practice makes you perfect. Can you share your experience with Forex trading?
There are some logic or truths as to what people you know have said about trading Forex. In my experience, learning curves have led me to adjust some of my approaches that may have lessened the challenges experienced by others. It’s like cooking, you may need to add some extra ingredient to your liking or not add stuff you may not like. No one approach is the same and I feel just mix & match what fits you best and there are ample of ways/styles/strategies that could be worth the experiment to find your place in it. It does depend on your time you could manage to spend on trading & learning. All the best.
Time? Yes.
Money? Only if you are a dumbass, and overload your first account.
Effort? See time.
Bottom line, when everything comes together, this IS easy.
Manage your risk, follow your rules, and keep an open mind.
Forex is risky business for traders which do not know trade,but when you hava good strategy system and obey all rules which have have forex market trade on this market can be very easy for you.
It will be difficult when starting out, its normal to feel overwhelmed.
It took me 1 year learning journey to understand & feel comfortable with the market.
Surely it’s only “easy” if you’re not constantly pushing yourself to improve?
Then again, why try and fix something that isn’t broke?
Yes, they are right - if Forex trading was that easy, we should have all made to the Forbes list a while back, still waiting for them to call and confirm my placement, sigh…
Complete and utter agreement, if it was easy everyone would trade and resign from their jobs… in fact 95% of traders fail because its THAT tough.
Tang’s advice is golden, “manage your risk, stick to your rules and keep an open mind to the unexpected”
Its also a good idea to test your rules and strategies in a demo environment before going live
++1
Plus. Learn to ask proper questions. Be careful asking opened questions or statments. Example Is trading forex easy? Or Forex trading isn’t easy. Depending on the trader you’ll get a lot of opinions that may or may not be relevant to your situation. If you want to ask a question that calls for an opinion, try to qualify your question,so when someone offers their opinion it will more likely be based on your opinion. Example. "Trading isn’t easy especially if you have a day job.
Then again, why settle for mediocrity?
I agree that forex isn’t that easy especially if you’re just starting out. It takes incredible amount of time and practice to get a feel of forex and how the market behaves and all the tools you can make use of that’s going to help you make a better decision. Still at the end of the day you never know what will happen or where the markets going yo head.
For me I’ve been studying forex for almost a year now on and off. For the last three months I’ve been more serious about studying and finally I feel like I’m ready to give it a go at demo account. Now I’m just working on my setup. For the first few months i honestly didn’t understand a thing that I was studying. it was all foreign to me and I needed a hell lot of time/practice to digest it all and really grasp what it was about.
If you have passion in trading and take forex seriously and invest all the time and money that’s needed to get you successful I don’t see why you can’t be a successful uber rich forex trader. Good luck !
Which platform do you use for demo? I’ve been studying fx for only 3 months (though more intensively) and i want to try a live nano account with a platform similar to the 1 i currently use (OneTrade) in terms of technology and layout, have you come across any good platforms and are there any restricitions you’ve noticed?
As other works forex demands full concentration . Without interest or work we can not know this market. New traders should not think it an easy way of earning .You can earn but slowly and patiently. Forex is not much difficult that no body can learn it . It is a matter of your talent which make it easy for you.
I’m currently using a demo with FXCM and like I said its a demo not a live account. I’m still getting used to the platform and everything. So I really can’t recommend you anything for now as I don’t have any experience trading live I’m sorry. Don’t you think it’s a bit early to go live now ? Studying and actually doing it whether its live or demo its two totally different things. Even though I think I know what I should be doing now that I’m on a demo its kinda overwhelming let alone a live account!. It just shows that you gotta be patient. And it takes time as with everything. I guess I just gotta keep pushing :))
Is Forex easy. In my mind yes. I tell myself its easy so that I will not be overwhelmed with complex things. I have been fortunate enough to have mental capacities and skills that allow me to learn complex subjects very quickly.
Will there be roadblocks yes, but I will know them down. Will there be drawdowns; yes but I will cut them short. Will it be difficult at times yes.
But the difference is that I’m willing to work and study my ass off and allow my brain to learn Forex trading. And one my mind gets an understanding of Price Action/Order Flow it will become easy.
It’s hard to get over the fact that you are losing money (99% of the time, your judgement is impaired) and you close off trades too early without giving them a chance to run.
Problem is, everyone suffers from the same problem 
Anything that is worth having/doing in life, is not easy.
A professional football player practices his sport religiously so he can be better than all the rest and earn the big bucks.
Similarly, a professional forex trader must practice and learn everyday so he can make big bucks.
Success at anything is not easy which is why 99.9% of people are not successful. They are too lazy and only do the easy things in life.
And thats why you have to create rules and follow them my friend. I also think that a lot of people tend to fail with trading because they buy a trading system that works if used right but they refuse to think for themselves in combination with the system.
Gotta learn to think for yourself and do waht you see in the system and not the system itself.
I beg to disagree. Anything in life worth having is easy to do, we just make it hard. How many times have you done something that was supposedly difficult and then once you’re done you say, wow that was not that hard after all.
It may be challenging yes but overall its easy. We just make it hard by not doing what we have to do. The key to success is perseverance and consistency.
If one can learn a strategy that gives them an edge and be persevering enough to deal with losses as their learning and be consistent enough to let their brain learn the trading strategy they can be successful.
The problem is people learn one strategy place 2-5 trades that lose and they say it doesn’t work.