SHARE WITH FRIENDS:

How to make money in Forex?

How to make money in Forex? How to make money in the Forex market? We read these questions frequently on the internet. Before, it was unthinkable for me to make money on the internet without my knowledge at all.

Today, of course, I know more about Forex, but I will never forget those first days I spent in the currency market. I was interested in the possibility of making money in Forex at the same time. It can be, however, very difficult.

In this article, I want to talk not about how to make money in Forex, but what I have encountered in trading. Trust me, this feeling is felt by every trader, so in my example you will decide whether or not to start trading in the currency market.

How much to bet on Forex?

There is no need to work in Forex with little money. When I had $ 100, I thought I could turn it into a few thousand or even more. But this is not the case. There will be no miracles. In order to really make money working in Forex, the initial capital must be large. Believe me, everything written about a mini account and multiplying $ 50 by a few thousand dollars in a short period of time is a lie. If it had really been that way, none of the dealing centers would be in disarray today. Especially those who do not put their money on the international market. Therefore, my first mistake was to enter the Forex market with a small amount of money. How can I make money in Forex? I just wanted to know if that was true. I tried it, and donated my money to a dealership.

What do you need to know to make money in Forex?

The hardest part about making money online is Forex. It is difficult to be an expert in economics and finance. Although it is said that you can make money in Forex without having a theoretical understanding of economics, this is not the case. You have to have a lot of knowledge to be in the stream. You also need to constantly monitor the position while sitting in front of the screen. If you have less money to trade, it can’t be otherwise.

I remember going out at night in front of the monitor to wait for the profit, and finally, when the price went to my side, I opened the account, but in the end it ended up having to wait all night to close this position. In general, unstable.

Who is Forex for?

Forex nerves are not for the faint of heart. Even when you know how to work in the Forex market, it takes you less than a year to become an owner, and it’s not clear that you’ll be keeping yourself in the flow all these years and replenishing your account with new cash flow. When you throw $ 100-200 into the market, there are times when you can lose it all and get nervous all the time. So this is a risky business. There is no escaping it. How to make money in Forex? Is this a risk? But taking risks is not for me. Gray hair is the result of constant anxiety. If you’re not indifferent to losing thousands of dollars, it’s a good idea to focus on more important things.

Is making money in Forex a lie?

Everyone is interested in the fact that it is possible to make money in Forex, but they do not quickly understand that in this business you have to run like an apple on the wheel. It is also necessary to know in advance the direction of the price, to overcome the obstacles set by the dealership center or broker. They also have children. Believe me, it is very important that you give your money to the people who work at the dealership. They need benefits. This benefit they get from us, the customers.

Therefore, I did not know that it is possible to make money working in Forex under such pressure. Dealing centers and brokers use a variety of cunning methods. Especially when the price drops rapidly and you have to close the position. The broker will not answer your questions and instead will answer that the server is busy with questions. This is all an excuse. If desired - the whole command execution system would be executed quickly. But they are not interested in it, so time is running out and everything will remain the same.

Is it always possible to win in Forex?

Trading in Forex is a risk. Significant enough. Putting your $ 500 in your trading account and you get frustrated when you see that money melt like oil in your trading account. I am a proponent of stability. In Forex, you can win $ 1000 today and lose $ 2000 tomorrow. Believe me, most people will. There is no one who immediately deducts the profits. If someone wins today, he loses tomorrow, and when he loses, he loses more. That's true.

Can I learn to trade Forex?

I read about the training package I bought at one of the dealerships. To be honest, the package was with videos, not bad. Only now, when the Internet is available, such paid training materials have lost their relevance. Anyone who wants to make money working in Forex can find materials from various sites on the internet. Believe me, the publishing house is writing about it too. Why pay when you can get it for free?

Conclusion

These memories are from the times when I considered myself a trader. By the way, my pessimistic views have absolutely nothing to do with the outcome of my trade. I even won at times. Whether it is the law of nature or human psychology, it is impossible to restrain oneself on curiosity. Therefore, even when you win a small amount of money, you will not find the strength to withdraw it from the account. The more you swallow, the more you lose.

In the end, I want to say that not everything is so sad. If you want to work in Forex, be prepared to start with a minimum amount of $ 1000. It is good to start with a good broker. The largest Forex market in the CIS is - Athens va Forex4you dealing centers. I don’t even recommend the rest. Remember, profit depends on greed, the more greedy you are, the more likely you are to lose in Forex. Don't forget that!