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No, the forex market is unpredictable and not trustworthy. You can make money as long as your strategies work. Yes, it can be profitable, but it should be pursued part-time if you’re a new trader.

@gailramos I second that. You can only find a suitable broker if you know what you want. Right now I’m trading with turnkeyforex because they offer all the instruments that I want to trade at a low cost. If a broker can’t satisfy my requirements it’s a no for me.

@Suzzaine89 Glad that you liked it! I hope newbies understand how important it is for a trader to be well-versed with their trading requirements to actually take advantage of the price movements to make some money.

Your knowledge can save you from any possible scam in the market. If you have no idea about what is being offered, you better avoid it because such ways that show you easy ways of making money are often scams.

Following forex signals is okay when you are knowledgeable and skilled. What if the person sending you signals is a scam? You will never know this if you yourself don’t know how the market works and what you must do in a certain condition.

In my opinion, a professional trader is someone who understands the seriousness of the market and doesn’t make unnecessary moves. They understand which trades to enter and which ones to avoid.

My favourite currency pair to trade is AUD/USD. Since it is in positive correlation with Gold that is my other favourite asset to put my money in; I understand them a little more than I understand other securities.

Yes, I agree. You do better when you stick to one strategy at a time. If you keep switching between strategies, there will be a lot of distractions and you may not be able to achieve what you want to.

Demo accounts are a great way of putting your newly learnt knowledge to practice and getting an idea of how the live market works. You learn to use a trading platform and can apply your strategies to see whether you must use them in the live market and risk your money or not. In a nutshell, demo...

I don’t think that forex trading is about luck. If it was, it would have been called gambling. Forex trading is all about the skills you obtain with experience in the market. You need to do a lot of hard work to take advantage of the market opportunities.

Forex trading is the name given to the process of buying one currency pair and selling the other to make some profit. It is currency trading undoubtedly. It offers a great way of making money but it is quite risky to do so.

When you know what you are doing and how it is done, making trading decisions becomes easier. It’s simply because you have set a specific goal and you know what it takes to reach there and you will work accordingly.

Your knowledge is capable of making and breaking your career. Do it the right way otherwise, don’t do it at all.

I have seen many traders around me lose money just because they couldn’t keep control over their emotions and became overconfident after a few winning trades. The market is so powerful that it can destroy all your trading plans if you are not following risk management.

This is the best part about trading forex. You are free to trade the way you want based on your individual requirements and trading goals. You can build your own trading plan and make changes to it if it doesn’t work. Not having to follow any rules to trade makes trading a great career for many...

That’s because of the opportunities these competitors and unstable market conditions offer. After all, I won’t make a single penny if the market stands still.

I cannot think of a trader stepping into the market without demo trading. A demo account should be the first step for traders before they risk their money in the live market.

There is no denying the fact that out of all the traders out there, new traders lose most times in the live forex market. Sometimes, it is because of the lack of education and other times, they are too confident about their trading strategy that they risk a huge amount.

In the beginning, I wasn’t very happy with the results that I was making but as I gained some experience and learnt more about the market, I started making better trades and obtained better results. So, YES I am currently quite satisfied with the profits I am making.

‌I agree that forex forums play an important role in the lives of all traders. These forums helped me get in touch with traders from all around the world. I used to put up questions about my trades and got answers from experienced traders that worked most times.