In your initial journey to learn Forex, you must have been warned about the truth that the world of foreign exchange might not as easy as you have ever thought. It is no secret that you can make as much money as possible in a day. However, there is no promise that you can make consistent profit every day.
The Expectation VS Reality in Trading Forex
There is no doubt that every trader who jumps to the Forex market will want to gain as much profit as possible. Many fall prey to their own expectations. They are becoming overconfident in placing a trade and end up wasting their capital in vain and get lost. That’s why learning the expectation VS reality of Forex trading becomes important.
Making Money in Forex Trading
When it comes to making money versus losing money, which one is the reality? It is safe to say that both of these options can turn into reality. You can actually make money in trading foreign exchange. Nevertheless, it doesn’t mean that you cannot lose in trading. In fact, there have been 90 percent of traders lose their money.
For this reason, it is crucial to understand that Forex is not a scam just because there are many people who fail to manage their money in this market. What to remember is that Forex requires patient and effort until someone can really make money in the market. That’s why it is always recommended to keep learning in Forex trading.
Trading Forex on a Full-time Basis
Actually, Forex market is a flexible market which makes it possible for traders to trade on a full-time or part-time basis. As long as you can manage your time well, it is not impossible to trade full time or part time. You just need to learn Forex market further to recognize the best ways to trading Forex.
For example, if you are someone who has a full-time job and wants to trade Forex part time, you may consider a simple Forex day trading strategy instead of scalping. However, if you are planning to become a full-time Forex trader, here we have put together some points that you need to take into account.
#1 You need a Lot of Time
It is true that you will need to spend much of your time if you want to trade foreign exchange on a full-time basis. This is because you will not spend your time for trading only, but also for educating yourself. In this case, you need to invest your time to attend Forex seminars, courses, webinars, and so on.
#2 You May Fail in Trading
It is reality that you may fail in trading Forex. If there is a trader said that he has never made any mistake or lost his money in trading Forex, he is lying! No matter how good you are in trading, there is possibility that you may fail. But, it’s true that you can limit your chance of losing.
#3 You Should Be Disciplined
Believe it or not, you need to be disciplined when you want to trade in the Forex market. We can say that every trader has understood this point. But, understanding is different from doing. The problem is that most traders allow their emotions to manage everything and end up losing their money because they don’t stick on their strategy.
#4 It Takes Time to Gain Profit
The last but not least, you should remember that it takes time for a trader to become profitable in the market. In fact, becoming profitable doesn’t occur overnight. You need to learn Forex deeper to get the most of the market. More importantly, you have to be patient and disciplined as you are trading in Forex.