skokila: Can You Successfully Predict Forex

Can You Successfully Predict Forex

Mar 19 2016 at 03:31

It's relatively easy to understand why most people lose money when they are trading Forex. When we see someone promoting this market, Forex Mentor Pro Review they always talk about the great advantages of the forex market but they never tell you that each one of these advantages can also get you in trouble. 

The fact that the Forex market is open 24 hours a day is an advantage because you can trade whenever you want but you don't have the volatility needed whenever you want; the Forex market has a high leverage (100, 200 or even 400x). If you have a mini account and use, for example, 100x margin, you can easily get your account ripped off with one single trade. Everyone says "Come trade Forex. There are a lot of free resources and it doesn't take you much time.". This is also a wrong idea about Forex.

If you want to succeed in the Forex market, you have to commit time, energy and money. Basically, you have to treat Forex trading like any other business. If you want to make some money in a coffee shop, you have to invest in a space, in the product you're selling, you'll have to see where you're going to open it, what money you need to ask the bank, and so on. Only after the opening of the coffee shop you can start taking your profits but never forget to keep investing to make it better than the competition.


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