Is Forex trading simple or complicated?

kazitanzib

Junior member
If it were easy, then more people would be doing it and making loads of money doing it.

So, no, it is not simple.

Trading, particularly FX, is quite adept at convincing beginners that they can outperform the market. One explanation is that retrospective confirmation is biased.

It's where you read charts and gain screen time (seeing price evolve), and your brain mislead you into believing you've discovered a pattern in how price moves; a method from which you may benefit.

This is because your brain is actively looking for that money-making approach, which naturally blocks out stuff you should be seeing (like underlying price dynamics, price memory etc).

Another factor is the ridiculous advertising and moronic-colorful technical indicator techniques.

All of the colorful and overly intricate chart patterns and technical indicators offer the impression that the approach is important.

Especially since the idiots (or so-called "genius traders" who advertise them) come across as "clever," duping the newcomer into thinking what they're selling is smart.

It's also critical to understand who you're competing against. As a trader, your competition includes PHDs from the top disciplines of mathematics/physics/programming, traders with flawless personality complexes, organizations with extremely sophisticated infrastructure and the ability to understand information, and so on. And their experience ranges from a few years to several decades.

P.S. As a side note, ignore advice from Quora users who include bogus promotional links in their answers.

You're better off reading textbooks/research papers on trading and financial markets or listening to genuine successful traders (men from hedge funds), both of which are available on YouTube.
Thank you for your time!
 

MonkeyMike

Junior member
There was an impression you were disappointed in something while trading in Forex.
Today I read what a trader wrote about indicators. He said they do not help predict the future or make forecast. But they help to understand the situation that is currently happening on the market. And this already helps to build plans for trade. Something like this. I literally don't remember. Maybe I'm wrong. Because I am one of those beginners who understand little else, but are trying to figure it out.
 

tomorton

Legendary member
I do not agree with much of what is stated here.

There is some massive flaw in the thinking that an amateur trader can get hold of research papers and come to a better understanding of a trading issue than a PhD in related subjects.

But of course you're assuming that I am competing directly with them...
 

Galisurgon

Newbie
In recent years, scammers and the creators of the trading platform have forced the financial sphere. People began to feel that earning on the Internet with the help of cryptocurrencies, stocks, or investments is easy and fast. Naturally, it is necessary to know in the field of economics and finance to receive a stable profit.
 

Mumpsimus

Member
If it were easy, then more people would be doing it and making loads of money doing it.

So, no, it is not simple.

Trading, particularly FX, is quite adept at convincing beginners that they can outperform the market. One explanation is that retrospective confirmation is biased.
..........................

You're better off reading textbooks/research papers on trading and financial markets or listening to genuine successful traders (men from hedge funds), both of which are available on YouTube.
Thank you for your time!

If it were easy, then more people would be doing it and making loads of money doing it.

So, no, it is not simple.

Trading, particularly FX, is quite adept at convincing beginners that they can outperform the market. One explanation is that retrospective confirmation is biased.

It's where you read charts and gain screen time (seeing price evolve), and your brain mislead you into believing you've discovered a pattern in how price moves; a method from which you may benefit.

.....................

You're better off reading textbooks/research papers on trading and financial markets or listening to genuine successful traders (men from hedge funds), both of which are available on YouTube.
Thank you for your time!


Trading is so simple my cat can do it. Making a profit is somewhat complicated. Keeping that profit can be really challenging. Not losing money is a real bugger to get to. Neither I nor the cat are very good at the last bit.
 
 
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