Pros and cons of Forex trading.

Like any type of activity, Forex trading has its pros and cons; the most complete understanding of them can only be obtained based on your own experience.

For those who do not have one, I will try to share my impressions, as a trader who has been familiar with the currency exchange for more than 5 years. First of all, we should distinguish between those traders for whom Forex trading is only a hobby and those who live from trading; I belong to the latter category.

The profit received is my main source of income, therefore my formed opinion is based precisely on that fact.

The advantages of trading.

As usual, at the very beginning, about the advantages that you will encounter when working on Forex:

1. Amount of earnings - without much risk you can earn money as a manager in a decent company, and this does not require a diploma or connections.

As for me, I could only dream of such a salary in my small town. 2. The place of work is also a huge plus for Forex, since there is no need to get to work every morning, this is especially noticeable in bad weather, when you watch people rushing to their workplace from a warm apartment.

In addition, you can safely go on vacation and work there too, since the Internet is now available everywhere while your wife and children sunbathe on the beach, and if you wish, you have the opportunity to extend your vacation for an indefinite period.
3. Working hours - or rather, a flexible schedule, now there is no need to take time off to do your business during working hours.

You can easily pay your rent, go to the dentist, or do a lot of other things that are only available during business hours. 4. Lack of bosses and colleagues - no one gives you stupid tasks or lectures you, you are your own boss.

In addition, there are no colleagues on whom the success of the work you do depends.

The main disadvantages of Forex.

Surprisingly, most of the positive aspects listed have their negative sides.

1. Risk – you can always lose a Forex deposit that is in the broker’s account, and this can happen for such a huge number of reasons that it was necessary to write an entire article “Forex Risks” to list them .

2. Lack of rest - it would seem that you should have a lot of time, but it is almost impossible to relax, your head is busy with constant analysis of past transactions and planning upcoming ones.

There is no such thing as a vacation or a weekend. 3. Working hours – a flexible schedule also has its drawbacks; for example, I have better luck during the Asian trading session.

Therefore, I have to get up every day at 4-00 in the morning, after several years I have become quite tired of this regime. 4. Psychological factor - it’s hard to explain to others and relatives what you’re really doing; most people perceive Forex as just another scam. Only purchases made with earned money can serve as an argument in defense.

The pros and cons of Forex are different for each trader, but the main conclusion is the same: trading on the stock exchange does not consist of only advantages, there are also a lot of disadvantages that can become an insurmountable obstacle to success for the majority of beginners.