Can a Rookie make money in Forex Trading?
Why not? If everything in this world is possible for the human brain to achieve, then why not the art of some good ‘ol Forex Trading?
Though, contrary to what most pundits would tell you, learning to trade Forex is no piece of cake. Trading Forex is one of the most complex tasks you can set yourselves out to master.
The thing can get very intimidating especially in the case of beginners, hence it is essential to get a proper know-how of how all the basics of the system work. If you take a sneak peak at some of the best Forex websites, forums, seminars and magazines, it appears as if everyone is loading millions of dollars in their pockets by trading!
The trick of the trade is, Forex traders like to boast about their winning trades and make themselves out to be super profitable experts, but the actual truth is that only 5% of Forex traders are consistently making those pretty notes.
Yes, thats right, even a Rookie can make money in Forex trading, but there’s a massive difference between making money in Forex and maintaining a regular income and achieving financial stability.
So what exactly is hurdling beginners from making a proper, long term income from trading Forex? Well, the answer is more complex than a lot of you might imagine. Unlike the professional Forex traders out there in the market working for the big banks and hedge funds, most beginner traders learning to trade Forex aren’t paid a proper, full-time salary to allow them in getting involved in the markets.
If youve just kicked off with your Forex career, then it is likely that you’ve got a full time job that you spend 7-8 hours a day on, and then there’s family and social life outside of that. What that implies is that time isn’t on your side and that is a big barricade between you and the level where you can trade like a pro.
It takes several years of experience, practice and study in the markets to master the art of Forex trading. The process is not exactly a very enjoyable one, since it will will chain you to your computer for the most part of the day. It’s something that might get you out of your social life, and put notable strains on your family relationships as well.
Because of all these reasons, it is no surprise that most traders aspiring to learn how to trade Forex will give up inside the first 3 months, and never make proper money with it. So what the first step you need to take in order to make money in Forex trading right now?
The best shortcut I know is to invest on a well-known Forex trading system to do your trading for you. Though, I wont go as far as looking you in the eye and telling you that the system would make you millions, because that doesnt make any sense. Profitable trading systems are not very common and you need to be mega careful with your choice.