Is it difficult to make money on Forex?

There are a lot of discussions around the Forex market, some argue that it is not possible to make money here, others give examples of people who have made a fortune.

But how does this work in practice? Is it so difficult to make money on Forex? The answer to this question is both simple and complex, it all depends on how much you want to earn and how much money you have for it.

Basically, the following proportion is observed - the more money and less appetite, the higher the likelihood of earning money, and vice versa, with a small initial deposit and a great desire to earn money, you will most likely be left without the amount that you started trading.

The “Money makes money” rule is true for any exchange, including Forex; it is much easier to make a profit by opening one long-term trade using low leverage than a hundred short trades by trading scalping.

But even if you have money and do not take excessive risks, you will still have to face certain difficulties.

1. Choosing a broker - as some traders claim, and these statements are documented, there are a lot of companies that, through technical manipulation, lead to losses even on profitable positions.

Of the ones that have been verified, I can recommend the first three DCs located on the “ Forex Dealing Centers ” page.

At one time I had to work with each of the companies represented, but no intentional actions were observed on their part. 2. Choosing a strategy is one of the most difficult stages, and you should start it only after you have studied at least a little the basic terms of Forex and other theory.

I would like to immediately note that it is simply not possible to learn everything about trading, so choose the most suitable technical analysis option for you, and do not forget to get acquainted with other methods.

3. Avoid losing your deposit - if you have at least half of the amount left in your account, you can always win back, in the same case when the transaction was closed by stop out , you can forget about continuing trading.

Therefore, it is much easier to prevent a drain by always placing a stop loss order or trailing stop; you can also protect positions by placing pending orders in the opposite direction.

4. Do not trade in uncertainty - many novice traders have a stereotype - if you entered the market, you need to open trades.

In Forex, everything is a little different from regular work; here you should open positions only when you are confident in the result. It is quite difficult to resist temptation, but as a rule, impulsive decisions always lead to losses. These are just a few basic rules, without following which you will not be able to make money on Forex; there are also a lot of other recommendations and tips.

Therefore, the answer to the main question of the article is clear – it is difficult to make money on Forex.