@BobWeb I agree. It is hard only in the starting but once you get the hold of it through experience and time it would start seeming easy. And we should remember that there is no shortcut so never be worried about hardwork and patience.
Believing something is hard is a way of our brain trying to stay away from all the work that succeeding requires. Most people decide something is easy or hard before even trying it for once. If you learn effective strategies, practice them and plan before actual trading, there’ll be better chances for succeeding.
The reason forex trading can appear to be intimidating is because traders do not approach the market with a realistic approach. It is because of greed and traders expect to make huge amounts of money out of a small capital and take uncalculated risk. Other than that, the requisite knowledge—fundamental and technical analysis—takes time to develop and traders get better at this after continuous practice.
It’s hard because we want quick money and risk what we have for it. In forex, we think in terms of profits, rather than in terms of loss. Traders should invest what they can lose and devise a risk management plan to minimise loss. That includes the use of stop loss and take profit, assigning risk reward ratio to trades, and risking only a small percentage of your money.
Interesting thread with lots of different views, think the post was answered in two parts, why is Forex trading HARD ? as oppose to trading indices or stocks .Or why is retail trading in General so difficult to master.i particularly like tommor. Post I was surprised he only got two likes
You can’t be as surprised as me.
But wait a minute. I often find myself criticising the consensus view of this or that issue in trading. But if these really are consensus views I have to accept that most people don’t agree, else they wouldn’t be consensus views would they?
Of course, people like you and I, perceptive and astute characters that we are, must needs walk a lonely road… Hey ho…
Take note folks this is tommor quoting this not just any Tom ■■■■ and Harry
I think forex trading seems hard for those who don’t have enough knowledge and skills and trade against the market.
It is hard, because most traders are sold red herrings and spend years ingraining at best outdated, or at worst false concepts into their heads…
…it has to be this way.
In order for the minority to make a killing, the majority must lose.
I’m Loren. I’m wrong a lot too, but I follow a professional trader. I learn from this. This trader is extremely calm and very conscious. I recommend him guys! his name is akosforex .in 2022, he has swing trading phrases. Sorry about my English.
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.
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.