Features to consider when starting to trade on Forex.

Any business related to making money has its own unique characteristics, and without taking these into account, you can make a multitude of unfortunate mistakes that will ultimately result in lost money.

Forex trading almost always involves large sums of money, so losses can be far more than just a dent in your budget, and you can even lose money in places you wouldn't expect.

Let's move on to the main issues that should be considered before starting exchange trading.

1. Losses – it's much easier to lose on Forex than to make money, especially for beginning traders. Therefore, it's not recommended to trade with other people's money, borrowed money, or credit.

2. Taxes - it might seem like no one cares what you earn on the exchange, but in reality, all your income is subject to taxation. And if you don't declare it, at best, you'll face hefty fines. This issue is covered in more detail in the article " Forex Taxes ."

3. Time - it will take months, and sometimes even a year, to start earning consistently. So, you won't be able to make a quick buck.

4. You'll have to learn - read books about Forex , watch video tutorials, or attend training with a broker; the process is quite complex and tedious.

5. Choosing a broker - in addition to spreads, you should also pay attention to order execution speed, the trading terminal the broker uses, the stability of that terminal, and order execution speed.

6. There are no 100% winning strategies, and even the best ones require a certain level of trader skill.

7. The danger of automated trading: Many beginners start trading using expert advisors, which usually leads to wasting their deposit . Therefore

, a novice trader should not rush into using automated trading robots. The most important advice is to avoid starting with large amounts of money; you may never realize the difficulties you might encounter, so it's best to risk your entire account after gaining some experience.