Why is Forex trading so HARD?

Its hard cause sometimes markets are absolutely crazy - for a daytrader someone has to learn to do nothing for hours, maybe all day long.
On the other side, you can make your weekly money within seconds at the opeing session of one day, if all circumstances are clear - “trading is waiting”, this is really hard

Mindset of losing money is why it’s so hard, but once you learn to remove emotions to that money that you are trading with it’s gets easier. It’s still not easy but it definitely helps

Forex is easy once you know what you are looking for in the market + a good control over your psyche.
There are so many strategies, beliefs, opinions, scammers, etc. in forex. It takes time and experience to filter out the useless parts. Once I found my strategy everything started to connect. Finding this ‘‘connection’’ is very difficult as you need to filter out so many useless things.

Forex is hard till you are consistently profitable and there is really not enough good traders willing to teach. You have to figure it out yourself and this takes time, effort and lot of patience. Only very few people can pay the price

Because understanding if you progress in trading or not can be easily confused with your own bias mixed with streaks of wins or losses. It’s non-trivial task to get conclusion about performance based on your returns, looking at some simple metrics like win ratio can help but still sometimes it is biased as well.

one of the problems is getting a good trading education. theres so much info on the internets and as a beginner you just dont know what is good or bad. then you have to test all that info in real time trading which takes forever. when i was stuck in testing-and-losing-money-mode i remember forex feeling impossible, but then i made small breakthroughs and organized the good information that you have into usefull stuff and like magic it start to work. its hard till it gets easy

If trading is not viewed as a Business you Will fail. I do not think there is a easy business that is profitable without putting in efforts. No body will teach you in forex your personality bias of the market. You get what you want in the market. My advise to traders to first develop the skill mind set of a business and profits will follow.

It’s become hard when you want to make money fast. even pro do the same mistake time to time.
i have lost 100k in just 5min in my life and made 100k in 3 month in real.

= Ungirding your investment in one trade
= after a wrong setup our mind switch quickly to hope and loss more
= no understanding or plan for risk
= looking for so many pair where only one pair can make you enough
= after developing a good strategy and plan one losing trade dump the total thing in dust
= some people never understand there mistake for long time

remember one thing there will be a next day, give your mental health some room and stick to the plan and plan must be realistic and when you understand that you can do it then do not seek for any new info only you and your chart.
regards

The FX Coach

Expecting something that can’t be accomplished in very less time always seems hard. But if you start with small steps and continue to accomplish those small goals, you will slowly be moving towards the bigger goal. This should be the mentality when you start forex trading.

As hard as it might look in the beginning, forex trading is not rocket science in my opinion. All you need is a good knowledge of market analysis, indicators, charts and patterns etc. along with a set of money and risk management strategies that work well for you. Always remember, like any other field, forex also demands discipline and consistency from the traders for success.

1 Like

Forex trading is considered to be hard due to the following reasons:

  1. High volatility and unpredictability.
  2. Due to the increased number of scams which leave the traders in a dilemma of whom to trust.
  3. Traders have misconceptions about forex trading. They believe it is the easiest way of making money and no learning is required which leads to losing the trades and makes forex trading hard for them.

I believe that forex trading seems hard for those who have insufficient knowledge and place trades without observing the market.

There’s a lot to learn to try and understand the markets

FX trading is massively difficult but NOT impossible. After approx 14 months, I’m at break even level. I simplified my approach, reduced my leverage from 500/1 to 30/1 and focused on less pairs (twelve now). I use indicators and influential chart patterns and that is starting to work for me. Mental weakness IS my weakness but has improved thankfully. If you want an indicator to build around then I would strongly suggest you start with the 7 and 20 SMA, whichever timeframe you use! It’s a good baseline but poor exit indicator! I use it with the CMF, SSE and AROON on personalised settings and the RVI for exits. Good luck all!

1 Like

Forex is not tough, it is extremely volatile. Those who know how to hold the backbone of technical analysis, will easily understand when to enter and exit. and never make the charts complicated by numerous indicators. use one 2 or 3 and analyse carefully. There are traders who trade solely on the basis of SnR levels and making good returns. So, understand the market properly and for 2 to 3 months just stick to the one pair, study it and play with it. This way learning works in trading.

What’s the SSE? When I googled it I got the Shanghai Stock Exchange :laughing:

What made you settle on this combination of indicators? Asking cause you’re the first person I’ve come across using this combo. Hope you don’t mind me asking. Just very curious.

SSE? Maybe my attention to detail is holding me back?:laughing: Should have been QQE, sorry.

I like the fact that my set up is quite unique although far from perfect. Still toying with the “volume” aspect but the CMF is providing the best supporting signals for my combo. The 7 & 20 SMA crossovers and the QQE are my trigger and the “potential” with these two is good. FYI, i use the 4hr charts predominantly but I’m working on a 1 hr exit method but I need a little more flexibility

Trading actually look easy on paper, but it is just a matter of how you are able to handle it with discipline, strategy, patience and many more.

1 Like

Much thanks for the reply. TBH, I haven’t used those indicators. First time hearing of the QQE so I’ll be reading up on it. Chaikan I think I outright dismissed it when I read it took volume to consideration. If you’re finding it useful maybe I was too quick to dismiss it.

Always cool to see other people taking different approaches! :grinning: