Hello my name is Simrat. I’ve been hearing loads about forex trading so I thought I’d gain some knowledge about it as well. There is both risk and rewards in forex trading, and life is really about taking risks and would love to make this an extra source of income!
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Unfortunately, with that mindset you’ll likely lose all your capital by taking excessive risks by overtrading. Forex trading is not, and never will be, an extra source of income. At best, it’s speculative and trading outcomes are never known. You’ll either win or you’ll lose.
I suggest you first press the green education button above, and begin your learning journey how to trade forex properly. First lesson - learning how NOT TO LOSE MONEY. This is fundamental to being successful.
Best of luck.
Yes, I agree that in forex you either lose or gain profit and Forex is very risky business but always remember we can change our lossess into profits with good strategy and plan. Having good knowledge and skills will also helpful to minimize our risks and losses.
It’s good that you want to learn forex to have an additional source of income. Learn different strategies until you find the one that works the best for you.
Welcome to babypips, Simrat! It’s all true what you have heard about forex trading. You will now have to make sure that you choose a good source of information for gathering knowledge. Based on your learning capability, you can either go for books or pick a forex trading course and start building your career.
Welcome my friend, this is a great place for a beginner with lots of members who provide good education. Enjoy!