Contrary to what Forex experts would like you to believe, trading Forex is not an easy task. Forex trading is one of most difficult skills that you can learn. This is especially true if you are just beginning to trade Forex. You might be asking yourself, “Can a beginner trade Forex?” You’ll learn how to make money trading Forex by the end of this article.
Forex Trading: Can a Beginner Make Money?
It seems that everyone is making millions trading Forex, according to the numerous forums, seminars, magazines and websites. Forex traders love to boast about winning trades and to make it seem like they are wildly successful traders. However, only 5% of Forex traders consistently make money. Even though a beginner can make a lot of money trading Forex, there is a huge difference between making a full-time income and building wealth and financial freedom through Forex.
How can beginners make an income
What is stopping Forex traders from earning a steady, long-term income? The truth is that most Forex traders who are learning how to trade Forex don’t get a full-time salary. You’re likely to have a full-time job, at least 8 hours per day, as well as a family and social life. This means you will have very little time to trade like a pro.
To trade Forex successfully and consistently make money, it takes years of practice, study and experience in the markets. You’ll also be working part-time, unpaid, while trading Forex. This will make you distant from your friends and family, and it can also cause significant stress to your relationships with your loved ones. It is no surprise that most Forex traders who want to learn how to trade Forex will quit within three months and never make any money.