Is it hard to make money on Forex?.

There's a lot of debate surrounding the Forex market. Some argue that making money is completely impossible, while others cite examples of people who have made a fortune. But what's the reality? Is it really that hard 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 to make it.

Generally, the following relationship holds: the more money you have and the less you're eager to make money, the higher the likelihood of making money. Conversely, with a small initial deposit and a huge desire to make money, you'll likely end up even without the initial investment.

The rule "Money makes money" applies to any exchange, including Forex. It's much easier to make a profit by opening one long-term trade using low leverage than by opening a hundred short trades using scalping.

But even if you have the money and don't take excessive risks, you'll still face certain difficulties.

1. Choosing a broker – as some traders claim, and these claims are documented, there are numerous companies that, through technical manipulation, cause even profitable positions to lose.

Of the trusted ones, I can recommend the top three DCs listed on the " Forex Dealing Centers " page. I've worked with each of the companies listed, and I've never seen any deliberate actions on their part.

2. Choosing a strategy is one of the most difficult steps, and you should only begin it after you've at least a basic understanding of forex terminology and other theory.

It's important to note that learning everything about trading is simply impossible, so choose the most suitable technical analysis method for you, while also familiarizing yourself with other methods.

3. Avoid losing your deposit – if you have at least half the amount left in your account, you can always recoup your losses. However, if a trade is stopped out , you can forget about continuing trading.

Therefore, it's much easier to avoid losing your deposit by always placing a stop-loss or trailing stop order. You can also protect your positions by placing pending orders in the opposite direction.

4. Avoid trading in uncertainty – many beginning traders have the stereotype that entering the market means opening trades. In Forex, things are a little different than in a regular job; you should only open positions when you're confident in the outcome. Resisting temptation can be difficult, but impulsive decisions usually lead to losses.

These are just a few basic rules, without which you won't be able to make money in Forex. There are also many other recommendations and tips. Therefore, the answer to the main question of this article is clear: it's difficult to make money in Forex.