Many
Traders have made a living off of trading Forex and some have had very
wealthy returns which have allowed them to become self-employed and
leave the 9-5 work behind them. All of these traders have 1 thing in
common - they all started out as an amateur forex trader! No one is born
with the trading know-how; it is achieved through dedication and
discipline.
So Yes! an amateur forex trader can indeed make
sustainable profits from trading forex. As long as he is willing to put
in the effort and has the discipline to follow through with such a
commitment then there is no reason why he cannot do what others have
done before him in the same shoes.
6. Forex Trader: Who is the best forex trader?
There
is no one best Forex Trader - or at least there is no clear way to
measure this (is it the amount one has won or the % gained from it).
Also as many of the top forex traders in the world do not trade with
their own money but instead funds and Company capital, it means that
different psychological and risk appetite conditions exist for different
traders and as such makes it bias to compare such traders success with
those who trade with their own capital.
The one thing to know is
that what a lot of Forex traders do have in common is their appetite for
success, their diversified portfolio and willingness to take measured
risk.
7. Has anyone ever made money trading FOREX?
Yes! Not only have people made money trading Forex but many have made a livelihood!
Although
the majority of retail traders would not have as much success as
professionals would, this is largely attributed to poor money management
strategies and lack of discipline in sticking with their strategy.
With
100% discipline and a good money management strategy, there is no
reason why anyone should not have a good chance in making money from
trading Forex.
8. Is FOREX the best way to invest money?
It
is hard to say if it would be the Best as there are numerous ways of
investing money and would largely depend on what the individual is
familiar with; however it is one of the best, largely to the fact that
unlike stocks/ housing market - an investor can make money regardless of
the how the instrument is doing by both selling/ buying that instrument
(or doing both - known as hedging).
In the Stock market it is
only possible to invest in the success of a stock - however in Forex you
can both buy/ sell a certain currency against another and hence there
is always a possibility for profit to be made.
Also the fact that
Forex is commonly traded on leverage, it allows Forex trading to become
one of the most volatile and hence allows for higher profits (as well as
losses) to be made - if traded correctly.
9. Foreign Exchange Market: What are the best forex blogs?
There
are a number of locations on the web to find a great forex related
blog, in fact many brokers have their own blogs also; but in order to
remain unbiased I will recommend a non-broker blog. One of the most
useful blogs for both novice and veteran traders alike is at
babypips.com - there is a regular update on current market movement as
well as an abundance of information and back-forth ideas being
expressed.
10. Why do individual investors usually lose money in Forex?
The
majority of retail investors end up losing money in Forex. In spite of
the fact that they may receive the right training and educative material
(or at least the same as some other successful traders may receive)
many often fail due to bad money management rules and/or lack of
discipline. The latter is the most often.
The hardest thing in
Forex is not making the calculations or predicting where to enter, how
much to trade and/or what your limits should be; it is sticking to your
strategy and following through with 100% discipline.
0 التعليقات:
إرسال تعليق