How realistic is it for a beginner to make money on Forex?

If you believe the advertising, then anyone can make money on Forex, just open and fund an account with one of the brokerage companies.

And then the broker will quickly and free teach you how to open transactions in the trading platform, and its managers will advise you on what you need to buy or sell to make a profit.

But if everything were so simple and easy, brokers’ websites would not be full of warnings: “Trading in foreign exchange markets using leverage is associated with high risks.”

At the same time, we all know the stories of such people as George Soros, Larry Williams, Warren Buffett and many other successful financiers. They were able to earn fabulous fortunes by playing on the stock exchange.

But before drawing conclusions, you should take a closer look at the biographies of these traders - http://time-forex.com/treyder . And find out how long it took them to achieve success.

At the same time, you can remember the story of the Turtles - http://time-forex.com/knigi/put-cherepah when people completely unfamiliar with trading, after completing a training course, were able to start earning stable income in a few months, and a year later they became millionaires.

Let's move on to our main question - How realistic is it for a beginner to make money on Forex?

 

• How long does it take to start earning money? First of all, you should not count on quick earnings, since it will take several months to understand the principle of trading. If during this period you start risking a lot of money, you are guaranteed to lose it.

 

•  Who will teach you trading - it depends on the teacher how quickly you start earning money and whether you start, in the same Turtles Richard Denis, who was called the king of futures, was engaged in training. And you will be taught by a broker manager who has just read a textbook on stock trading.

 

• Abilities - unfortunately, not everyone is given the ability to be a trader; according to statistics, 95% of traders lose on the stock exchange, and if we return to the same experiment of the Turtles, then out of thousands of applicants, only 14 people were selected.

 

• Mistakes - as practice shows, rarely do newbies listen to instructions; a leaked first deposit is, so to speak, a classic of the genre. Typically, every beginner starts trading using huge leverage and neglects stop orders, and only after draining the deposit begins to use stops.

Summarizing the above, we can conclude that it is quite possible for a beginner to make money on Forex only if he has the ability to exchange trade and has a sufficiently qualified teacher. And the main rule has not been canceled - in order to earn money, you need money.

Moreover, in any case, you will start earning money no earlier than in a few months, and if you can’t stand it anymore, you can use the system of copying transactions or invest in PAMM accounts .