Make Money in Forex - Is it Really Possible? - page 3

name
992
name  
jotekfinance:
Wow, you never learned something by watching someone else do it? ALL of the demo's and programs and books, etc. were built by someone else, so, in effect you are using a 'mentor' whether you know it or not. IMHO, if you pay for it and learn from it, it just gives you a jump start. Yes, you need to do it yourself, but no one just sat down and learned in a vacuum. This is another legitimate way that people can learn, as well.

Once when you start live trading all that you learned becomes something else

Decision making is not what you can learn from other - it is you, yourself and you when it comes to deciding what to do in trading. And decision is what makes trading a trading or "trading"

Jotek Tallington
144
Jotek Tallington  
on my own:
Once when you start live trading all that you learned becomes something else Decision making is not what you can learn from other - it is you, yourself and you when it comes to deciding what to do in trading. And decision is what makes trading a trading or "trading"

I agree that you make the decisions, but how do you know how to make them? There is no reason to reinvent the wheel and learn bad and good decisions by trial and error. Watching (and asking) how someone else does it is a good way to hone your own instincts by putting up barriers to doing stupid things (out of ignorance).

cynthia
36
cynthia  

It is very possible to make money that is why there are so many traders and investors in forex. The forex market is liquid and is open for 24hours. Any new trader who want to make money in forex needs to acquire the needed information and knowledge of forex and also practice with a demo account before trading live and involving real money because aside from being profitable it can also be very risky too.

[Deleted]  

Forex is NOT a zero sum game

Duane
17
Duane  

Yes its possible. Swing Trading. Day Trading is the worse possible way...hence 95% failure rate.

Jotek Tallington
144
Jotek Tallington  

No, its not a zero sum game, but it is better than roulette I guess.

name
992
name  
jotekfinance:
No, its not a zero sum game, but it is better than roulette I guess.

It is not a zero sum game only for central banks. All the others are on the minus side

monty1
59
monty1  

if you can manage your risks, then yes it's possible, people lose most money because when they lose, they don't cut loss.