Is Forex trading easy or difficult?

[talhayousuf]

I think that Forex trading is difficult, especially nowadays.

You may think that it is because it’s complicated to have a winning strategy or because you need $1 million to generate a decent income or because you should have some innate skills… it’s not that.

I know that this sounds like one of those quotes that will take you nowhere, but“you are your only limit”.

When you have to buy a new phone - boom - amazon, delivery on the same day.
You need to buy a train ticket? There’s an app for it, you can buy it in 2 minutes from your bedroom.
Want a pizza? “Hey, I want a pepperoni pizza at 4 Privet Drive, $5 more if you can deliver in next 20 minutes”.
You need to do a research? There’s internet explorer… well, I’m joking. There’s chrome and you have access to the world in seconds.

Everything is ready. You can access everything now.

This environment doesn’t contribute to form two skills that are necessary for Forex Traders: patience and discipline.

Many people believe that traders fail because they don’t have a good strategy, because they are not skilled, because Forex Trading is a scam and Brokers are there to take your money and run.
I’ve been moderator for a Forex forum for a long time; I’m an instructor on Udemy with more than 4000 students. I have been trading Forex since 2007. Trust me if I tell you that the main reason for traders to fail is that they make a psychological mistake sooner or later.

1. They have a bad day and they decide to open more trades to recover the losses;
2. They made a mistake, they feel stupid and they decide to increase the size to recover the loss of that stupid mistake;
3. They are in a good winning streak and decide to increase the size because it’s a good period;
4. They think that they can sustain a bigger drawdown so they decide to increase the risk;
5. They say “one last time with this risk, then I will stick to the plan”;
6. They think “it can’t always go down”.

I can really write more than 100 reasons, but I think I made my point.

Forex Trading is difficult, but your mind is the biggest problem. If you can build the necessary discipline, you are on a golden path to become a successful trader.

 

[Odd8all]

I struggle with trading forex.
I think my mistake is using
/relying on signals from indicators

 

[Jim]

Forex is hard, as with everything else life throws at you. What you need to know is that this isn't a get rich quick scheme. You should also implement your own risk management spreadsheet so you know how much to risk and when to add lots.

 

[ali norouzi]

Forex trading is easy if u have descipline and trading plan and respect all the rules in your trading strategy and use a strong money management , and difficult if u do not respect any of above mentioned.

 

[Barren]

Define easy and hard. It's really up to how you look against it

 

[Andrijosepth]

Forex sometime easy sometime hard depend on how we trade anyway all gud luck

 

[ardhian damara]

Many people earn mony from forex but many blow their money also from forex. You need to learn. It is not one hour seminar and you are ready. Some need weeks, months or even years to understand forex. A lot of them give up.

 

[Sello]

Forex is difficultly easy. Very easy yet difficult, Its a very tricky, true that discipline and patience is the key. Bigup for the post

 

[benjaminhopper]

Not difficult at all. When using tools and platform like InstaForex.

 

[David Pennington]

Not difficult at all. When using tools and platform like InstaForex.

how does this work exactly, why can't you be a US citizen? lol

 

[Ajiboye Stephen]

Forex is sweet once you have the knowledge of the narket

 

[Talal]

To be honest with you, forex is easy it is my hobbit

 

[Marian Median]

It will entirely depend on the trading performance of a foreign currency exchange trader. Whether forex market will be a dependable trading platform or not will greatly rely on the trading results obtained by the traders. Each forex trader will require ensuring proper understanding of this market to achieve the desired profit. Here a trader can’t be able to attain profit except he can understand the basic market situations here.

 

[Juan569]

The forex is difficult if you do not have discipline and you do not have the basic tools such as indicators, robots, the fact is that it is necessary at least two or three months of testing to get ahead, nothing is easy in brother life.

 

[cssj_82]

Stil when forex is difficult to make us rich..people are still enjoy and involved in trading forex

 

[Ricardo Pulgarin]

Many people loose their funds in forex because they havent enought information and cualification to manage the money.

 

[faq boi]

I do it as a game and lost money still trying to learn

 

[Lance Tan]

It's difficult thu. but emotion is one factor.

 

[Firman Adi Wicaksono]

Honeslty, It depends on your mentality and no being greedy

 

[rodd cameron]

I think that Forex trading is difficult, especially nowadays.

You may think that it is because it’s complicated to have a winning strategy or because you need $1 million to generate a decent income or because you should have some innate skills… it’s not that.

I know that this sounds like one of those quotes that will take you nowhere, but“you are your only limit”.

When you have to buy a new phone - boom - amazon, delivery on the same day.
You need to buy a train ticket? There’s an app for it, you can buy it in 2 minutes from your bedroom.
Want a pizza? “Hey, I want a pepperoni pizza at 4 Privet Drive, $5 more if you can deliver in next 20 minutes”.
You need to do a research? There’s internet explorer… well, I’m joking. There’s chrome and you have access to the world in seconds.

Everything is ready. You can access everything now.

This environment doesn’t contribute to form two skills that are necessary for Forex Traders: patience and discipline.

Many people believe that traders fail because they don’t have a good strategy, because they are not skilled, because Forex Trading is a scam and Brokers are there to take your money and run.
I’ve been moderator for a Forex forum for a long time; I’m an instructor on Udemy with more than 4000 students. I have been trading Forex since 2007. Trust me if I tell you that the main reason for traders to fail is that they make a psychological mistake sooner or later.

1. They have a bad day and they decide to open more trades to recover the losses;
2. They made a mistake, they feel stupid and they decide to increase the size to recover the loss of that stupid mistake;
3. They are in a good winning streak and decide to increase the size because it’s a good period;
4. They think that they can sustain a bigger drawdown so they decide to increase the risk;
5. They say “one last time with this risk, then I will stick to the plan”;
6. They think “it can’t always go down”.

I can really write more than 100 reasons, but I think I made my point.

Forex Trading is difficult, but your mind is the biggest problem. If you can build the necessary discipline, you are on a golden path to become a successful trader.