HALAMAN SELANJUTNYA:Forex Trading Facts, the Advantages and Disadvantages - Is Forex Trading For You?
The fact is most people who start to trade Forex fail and it's a whopping 95% of all traders. The good news is you can win, if you have the right mindset and here we will give you both the advantages and disadvantages so you can see if you have what it takes to win.
So what are the advantages?
- There are always opportunities to make money, as currencies fluctuate and trend every day.
- There are always profit opportunities and never a recession, as one currency rises another must fall and vice versa.
- You only need an internet connection, a computer and some seed capital to get started.
- Forex trading is a totally learned skill, so anyone can learn to trade.
- The best Forex trading systems are simple so anyone can learn them.
- You only need to spend 30 minutes a day on your trading strategy.
- You can leverage your investment by up to 200:1, to make even bigger gains.
Now on the face of it that's a lot of advantages but don't be deceived, making money is not a walk in the park and you wouldn't expect it to be, with the rewards you can potentially make. So here are the disadvantages of trading Forex and how to combat them.
- Leverage creates risk as well as opportunity and tight money management is needed
- You cannot predict Forex prices in advance and all the cheap robots you see which claim you can make money with no effort are not correct and these systems all lose.
- You will face a period of weeks at some point, where you will have loss after loss and you must keep these losses small. This is the hard part of Forex trading, holding your discipline when times are tough.
- You must run your profits and running an open profit requires confidence and courage.
If you look at the disadvantages above, you will see that the route to success is to have the right mindset.
Most traders cannot take responsibility for their actions and they cannot keep losses small. This is the challenge of Forex trading, keeping losses small and running profits; anyone can learn to do it but most simply don't have the confidence to trade with discipline.
If you like to trust others or get advice from others, you will fail at Forex trading, but if you can take responsibility and trade with confidence then Forex trading is for you and you can make more money, in less time than in any other business. So get the right Forex education and the right mindset and your all set for success in the worlds most exciting business - international Forex trading.