Forex Edge
How hard is it to trade forex?
Is it worth the time and effort of short trading and reading up?
I am starting to read up on it, and so far it looks fun and profitable, then again i have read any of the “bad” sides yer, although ive heard rumors of people loosing all their money in it, because it is a “double edged sword”.
But really, what is soo hard about it?
As long as you do a lot of research on it, i should be fine?
I have about $4350 and i am young (16).
Could it be good for long term?
Well reason its so hard is because all of the market (just like any other market) is controlled by human emotion. So in other words is makes it unpredictable. What traders try to master is to figure out a strategy with the highest probability of being a success. So with just speculation to make your decisions, you are left to also really master money management. Preserving your capital is the only way to stay in the game and to be there when making money opportunities happen.
One poster posted to just focus on fundamentals. One thing I have against this as a retail trader is news is typically factored into the market before we even know about it or even understand it. And since the market is controlled by human emotions, not everyone views the market in the same manner so it makes for very volatile situtaions. Then add the psychological pressure you have with investing your own money which could easily be wiped out in a short period of time, by losing in the markets or by a broker error. You’ll see once your in this arena for a while. At first, yes it seems like the golden tunnel, but then you see the reality and the difficulty it holds.
