Yes, dear friend. Even after years of trading this work can be challenging sometimes. Routine mainly, but sometimes... yes
How difficult forex trading is for you?
- Thread starter Rambo35
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Honestly speaking Forex Trading is never difficult the real difficulty is to over come emotional Power that insists to take any trades while seeing the live market to earn good money in no time and as one over comes His own bad Habits during the Forex Trading am sure one can easily master it to earn good money for living.
Like some posters have mentioned, trading Forex is far from being easy. But while I can honestly say it is difficult,it is also easy only if the determination and the desire are there to learn about it. There are lots of companies that offer Demo accounts, so that's a good way for you to start right away. But If you feel discouraged, ask yourself, how were successful traders today able to do it? You see, the difference between the impossible and the possible lies in a man's determination.
Honestly, It was pretty difficult in the beginning trying to learn effective trading strategies. I wanted to quit, but then I remember that winners never quit. So I had to put my best foot forward, and here I am still trading.
There's lots we have to learn before we are able to decide our trading styles and techniques, and at first it can all seem a bit overwhelming. I was lucky because I had previously traded stocks and futures using both technical and fundamental analysis, but unlucky because initially I thought the same trading style and technique would work equally as well in Forex...but I was wrong! I had to build a brand new strategy. You are so right, Gerrard, winners never quit, and eventually overcome the initial learning curve. None of us would be here if we didn't believe we are on the right track, so what else can we do but keep going!
I bet that not every trader who has deep experience can say that Forex is not difficult. Have you ever faced the moment when you realize that your strategy is not profitable anymore? Sometimes the main problem is not in the broker you choose and not in the investments. It is in some detail that you could miss or in a volatile market. It's not easy to cope with that, especially if you have been working on the trading strategy for a long time
I had such as situation once, yes, I just changed it a bit and went on. What concernces a broker... Sometimes charts show me strange things and I have to write to support. But they show me facts about some news etc. So, I see that it was not their fault. But moments ago, I was ready to fight for the money I lost. The idea is to be more attentive
I must agree with all of you, I have had a hard time especially you really have to be updated with the news in the stock market. However, when I am doing this every now and then I became used to it. Webinars even helped me a lot as well!
Initially forex trading was very much difficult for me. I used to face lot of difficulty in understanding the concepts, forex terms but with continued practice and learning it started becoming easier. It is very truly said that “practice makes a man perfect”, and this statement is very apt for forex trading. Practice, practice and more practice can help you become successful trader.
Any business, including Forex, isn't a complicated process. The difficulty lies in all of us. Forex is the psychology. And because we don't trade against the market or banks and brokers, but against yourself, it can be concluded that the forex - it's a simple tool that can be understood. It's much more difficult to comprehend and regulate a trading psychology.
Understanding of financial basics can be difficult for some people too. Psychology is one of the factors, but not the only one. Knowing the fundamentals is important as well.Some people say that technical analysis can be enough, but it's not in the majority of time.
I agree, sometimes we can't just deny the economic situations happening and some other factors and their effect on the market.
I'd rather say not deny, but miss them. Denying is senseless as Fed meetings and so on will be held and will affect the market anyway
At begin, i think it was little difficult for me to adjust with this market but as time pass and i learn about Forex, i learn that it is not difficult at all.
You made a good point. Trading psychology is one difficult aspect to master in Forex trading. A trader becoming overly emotional with either wins or losses can pose serious threats to his trading plans making it difficult to achieve positive long term results.
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