Forex Trading is easy or hard ??

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Old Jan 24, 2013, 12:39pm   #1
 
kittycriston's Avatar
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Forex Trading is easy or hard ??

I am a beginner of forex market. I want to know forex is easy or hard. Can anyone help me?

Thanks & Regards
Kitty
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Old Jan 24, 2013, 12:55pm   #2
 
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Re: Forex Trading is easy or hard ??

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Originally Posted by kittycriston View Post
I am a beginner of forex market. I want to know forex is easy or hard. Can anyone help me?

Thanks & Regards
Kitty
I think you would make a lot more money being a model going by your pic.
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Old Jan 24, 2013, 12:56pm   #3
 
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Re: Forex Trading is easy or hard ??

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I think you would make a lot more money being a model going by your pic.
Thanks..
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Old Jan 24, 2013, 1:05pm   #4
x4x
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Re: Forex Trading is easy or hard ??

Hi Kitty,

Technically it is reasonably easy, but the really hard part is the psychological aspect of trading. Women tend to be better than men because they tend to follow rules better than men. but even so it's still incredibly difficult.

Many think it won't be psychologically difficult for THEM, wrong, there are no exceptions.

Even with the gender advantage, it will most likely still take you at least 5 years to get proficient at it, and quite possibly longer as the market, IMO, will continue to get harder to master than say 4 or 5 years ago.

It can also have a negative effect on your personal life, trading becomes very absorbing and most won't understand or agree with what you're doing.

So please think very carefully before getting involved with it.
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Old Jan 24, 2013, 4:00pm   #5
 
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Re: Forex Trading is easy or hard ??

Hi Kitty,

Simply stating Forex trading is easy or hard ignores the variables dictating it and may prove unhelpful(sorry...). Another way to look at it is to ask, what kind of personality does it take to be successful at Forex trading?

I have been trading for over 6 years now and from personal experience, the reality is that it takes a certain type of character to become efficient at making consistent profits and therefore a living from trading. As a basic pre-requisite I would say you need a real passion for problem-solving and a keen desire to learn trading for the satisfaction of the art, rather than set out for the cash. Once you have a trading method or strategy, you then need to be disciplined enough to follow the rules if you are to see consistency in the results. You also have to master your trading psychology (this includes being able to accept losses, not giving into a perceived fear and exiting trades too soon etc.). Beyond this, you need to raise your targets once you have some consistency if you are to make a serious living from the markets...

The market dynamics always stay the same and the basic movement of price is repeated. As a new aspiring trader, I suggest you spend time learning about true trading. It is not a simple case of loading your software, looking at a price chart and buying / selling when an 'indicator' says so...

If you want answers to something specific or any further help, feel free to pm me or post here again. Remember, those that have mastered all of this will say it's 'easy'...
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Old Jan 24, 2013, 4:04pm   #6
 
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Re: Forex Trading is easy or hard ??

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Originally Posted by kittycriston View Post
I am a beginner of forex market. I want to know forex is easy or hard. Can anyone help me?

Thanks & Regards
Kitty
dead easy if you ask me.
There are some really great trending pairs
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Old Jan 24, 2013, 4:23pm   #7
 
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Re: Forex Trading is easy or hard ??

Lots of beginners flock to forex, but personally I believe it is actually the hardest market to trade. The price action exhibits behaviour that appears more random and unpredictable than indices or commodities.

Those of you that have written automated systems and backtested them will know what I mean.
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Old Jan 24, 2013, 4:47pm   #8
 
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Re: Forex Trading is easy or hard ??

Yes Hoggums, I agree...however, the volatility of the Forex market provides advantages such as being able to give you a greater amount of pips in a relatively shorter amount of time. This is probably one of the main reasons why new traders get attracted to it, but it soon becomes apparent that the risk is greater and precautions have to be taken...
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