Forex trading is hard because traders jump into trading without developing their trading skill.
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Forex trading can be hard for several reasons and emotions is one of them.
Trading can be emotionally charged, and emotions such as fear, greed, and overconfidence can negatively impact traders’ decision making. Well of course one cannot trade “without” emotions but I believe that keeping your emotions in check you can increase your chances of success.
Trading requires discipline and patience. Success in forex trading requires a combination of skill, knowledge, and emotional control.
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Starting out in trading can be tough, and it is often difficult to make consistency in trade. But I would say copy trading platforms such as zulutrade, etc have made things a bit much more manageable. I have recently started copying trades, and the only thing I take care of the most is following a reliable and profitable trader and keeping a close eye on my portfolio. That way, I end up with good results.
I tried using Zulu trade a few years back and I was going to be a trader at Zulu trade but when I placed a few trades my trades did not have drawdown that was significant and all my trades came into profit but my stats at Zulu trade said that I was a terrible trader with lots of drawdown.
I’m not sure but I think Zulu trade is rigged to allow a certain group of traders to handle all the business at that website.
I could be wrong but if Zulu trade challenges me I will go over there and I will play some positive trades and I will show you the stats but I think I think it’s a phony business that that feeds all of the trading business to a select group of people.
What you really don’t know is that the traders that are at Zulu trade you don’t know that they don’t change their user ID 20 times a year and that they are a part of the operation you don’t know that. In what other situation would you just let a random person invest your money a random person with an anonymous online user ID? The whole thing just sounds crazy to me that anybody would ever put an anonymous internet person in charge of their funds.
so , i started this topic in 2021 , now it’s 2024 and after these years i have learned that yes trading forex is Hard, it most definitely is! but not impossible and the reason for why its hard isn’t poor technical education or poor risk management or… it actually depends on the trader! for me it was mostly the psychology part that held back. i have also learned that even with the simplest technical strategy you can be consistently profitable (like just s/r or trendlines) if you have the right mindset and the proper risk management all together just have to find what is your problem? is it risk management , psychology , strategy … and fix it , i’ve been consistently profitable for about 10 months now , just wanted to share with you all that it’s possible just have to try hard enough and don’t quit , DO NOT QUIT
That’s an incredible journey you’ve had with forex trading! Your insights about the challenges being more about mindset and personal approach rather than just technicalities are spot on. It’s impressive how you’ve emphasized the importance of understanding one’s own hurdles, whether it’s related to risk management, psychology, or strategy, and actively working to overcome them. Your perseverance and determination for the past 10 months have paid off, and your message of not giving up is truly motivating. Keep up the fantastic work and thanks for sharing your inspiring experience!
Forex trading isn’t hard. The patience and discipline are!! In order to be gain quickly often traders loose quickly. You need to understand the charts and formulate your strategy to be mindful of your execution!! AnYways, eventually you will learn it down the line. Always have a strategy in place and trust your strategy! SIMPLE FORMULA!
Imo Forex trading is challenging due to factors like high risk and volatility, market complexity, the need for emotional discipline, continuous learning, risk management demands, psychological challenges, and the lack of guaranteed success.
Why is Forex trading so HARD?
I wouldnt say Forex Trading is hard. All you have to do is make a few keypunches. You dont even have to do it yourself as it can be automated and you employ the use of Expert Advisors (EAs). What I think is hard is being able to do it profitably, but of course I could be wrong.
Copy trading isn’t a panacea for those who consider trading sphere as something truly arduous actually.
It also has certain peculiarities to be taken into account, and if a human considers trading, classicla, manual one, as somethign hard, then copy trading will seem to be hard too.
The main is to understand what challenges you are about to face, whether they refer to emotions or lack of knowledge, and then work hard on turning all weaknesses into strengths. That’s something all traders pass through.
My opinion why FOREX trading is so hard for retail traders is because of the following reasons.
Too much garbage education that make people believe they can simply add meaningless technical indicators on a meaningless candlestick chart and make millions of dollars. (Including the School of Baby Pips here on this website)
Cheating scammers trying to sell courses that sound great but in reality don’t work.
People who have dreams of becoming a millionaire in a short time period are throwing in the towel with the regular career job.
Poorly designed trading robots that are marketed as being a holy grail but the back testing was staged to show the absolute best possible outcome using a one in a million curve of best fit.
And finally lack of people searching for the right education.
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I would also add that many people cannot cope with their emotions. That is, when a trader begins to succeed at something, euphoria and a false understanding may arise that he already knows how to do everything. Because of this, risks in trades begin to increase and deposits are lost. Also, if a person cannot control himself during losses, he tries in every way to compensate for them, here and now, and does not wait for the right moment according to his trading strategy. That is, haste and lack of discipline can also harm a trader.
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Forex trading can be challenging due to market complexity, constant fluctuations, risk exposure, and emotional discipline required for success.
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Is forex trading so hard?
Or is day-trading incredibly difficult?
like everything else the most impotent is to know to trade…
Risk or moeny management is for those who doesn’t know to trade.
Forex trading is challenging due to the high volatility of currency markets, complex factors influencing price movements, and psychological pressures such as managing emotions and sticking to trading plans. Success in forex trading requires a combination of knowledge, discipline, risk management skills, and the ability to adapt to ever-changing market conditions.
if we take it philosophically, then everything actually becomes harder the less we understand it, the same goes with forex trading, the less u know the more difficult it might seem, the same goes when u study it and learn more about it in this case the learning process never ends but it slowly unfolds for it to be easier, i went through the same journey with my fhm account i had my struggles to bring it to where it is today which still i would say is not enough. we just push through haha
Difficulty in trading may also arise due to the fact that some traders choose highly volatile pairs for trading. They want to make quick and big profits thanks to this high volatility, but they forget that this can also lead to quick and large losses if they trade incorrectly. That is, the haste and greed of such traders ruins their deposits and complicates their trading.
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Hardest business in the world. Mentally disturbed & abused, bank accounts are left with nothing, eyes going blind, and whatever you can say it. Those stages were never easy to go through…never never never. Almost 7 years but why am i still here.
There is nothing hard in this world if you put your heart to it. Plan It, Focus It, Master It, Execute It. It is all about algorithm. Master It is the main key. Pick the most suitable strategy and time of trade for yourself and obey fully. I can guarantee you will definitely be there.
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Because there are so many variables