Forex is carrier ?
Forex means world finance issue. Globally rapidly changing financial method. When a trader comes in Forex market. Must need to learn first. After that have to practice. Earn is carrier starting. So be careful. Good knowledge menas good carrier aslo.
i think you mean career? i think unless you want to become a money manager i wouldn't rely on Fx as a career because there isn't much reliability..Personally i have a full-time job which is great because it means i have a stable income and Fx is a hobby which can earn me a little extra, to make a career out of it i think there is a big risk especially if you consider brokers and money managers also have a stable income even though they most likely trade on the side too.
I don't agree with purple money on you can only take forex as a hoppy.. because a lot of traders take forex trading as a full time job and they gain from it all the money they need to live a luxurious life. ..
But those of course are experts and know exactly what they are doing.
I agree that it is a must for everyone who wants to enter the world of forex to learn first.It is important to have a enough knowledge in order to succeed in forex experience and skills as well is important.It is hard for us to succeed in forex without sufficient knowledge.
As an individual trader, I do not see forex as my career in short or even in long run. It is mainly due to risky nature of market where it is really hard to survive. To minimize risk, more spare cash is needed so that we can bear more risk. I think it can be a nice extra-cash biz but, for an individual trader, it should never be the "only" source of income.
Originally posted by ChampAs an individual trader, I do not see forex as my career in short or even in long run. It is mainly due to risky nature of market where it is really hard to survive. To minimize risk, more spare cash is needed so that we can bear more risk. I think it can be a nice extra-cash biz but, for an individual trader, it should never be the "only" source of income.
Im jumping onto the "not-career" band wagon here as purple and champ has said, the risk is too great to be the "ONLY" source of income.
Contrast to Nader's point i dont think an expert FX trader lives a luxurious life per say due to the unreliability and probably liquidity problems/excuses a broker would spout if they had to pay large withdrawal funds to a ingle traders every month.
Also just my interpretation but i dont think we should class "experts" as a fixed seperate class since its not very well defined on how to become an "expert"
I agree with that if you want to succeed in forex you need to learn the Forex because having good knowledge is very necessary and if you have lack of knowledge it will be very dangerours and you can lose very fast.
A lot of risk is to do with lack of discipline and incorrect method towards execution. If we correct that up then the risk automatically drops to manageable levels. I am very much discipline, it’s easier because I work with FreshForex and they allow me to work out in terms of practicing with their free demo which helps so much in working well.