Can I make money trading forex? - Grand Forex Systems

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Can I make money trading forex?

 



 Most of those who are just beginning to be interested in financial markets ask the same question: how to make trading money? In fact, there is only one surest and most reliable way - to make every effort and get as much theoretical knowledge as possible to apply it later in practice.

 

In this article, we will talk about what steps should be taken and, in general, whether it is realistic to make money on trading. Also, we offer some useful tips for those who are just starting to master the financial markets.

 

How to make money on trading for a beginner?

 

Many novice Forex traders want to know the answer to this question. But, by and large, they have very little chance. No, of course, if you want to make money once, you can do it without knowledge. But for a stable profit, knowledge is needed, without which nothing will work.

 

First of all, it is necessary to decide which type of analysis will be used in work. There are two methods in total - fundamental analysis of Forex and technical analysis of the market. The first works with long-term trends and assumes knowledge of economics.

 

The second works exclusively with Forex charts and is more mathematical than psychological. Each of these species has its own admirers and critics. For example, those who prefer to make money on trading using the technical method note that the price considers everything. Accordingly, such traders do not need any additional types of analysis.

 

On the one hand, it is quite reasonable. After all, one of the postulates of technical analysis is talking about this. But on the other hand, adherents of the fundamental forecasting method note that the picture on the chart is nothing more than the result of what is happening in a particular state's economy. And they are also right in their own way.

 

How to make money trading with such knowledge? In fact, everything will be much easier. But we must not forget that there are certain risks. The ability to predict price fluctuations is only half the battle. It would help if you learned how to accumulate capital and not waste it.

 

Your permanent earnings on trading will depend on how competently you have learned to manage capital and risks. Any transaction volume must be calculated in advance based on the total amount in your trading account. Experts recommend not to exceed the threshold of 5 percent of the entire deposit.

 

Making money on trading also involves minimizing risks by placing the so-called Forex limit ordersThis is done not to lose more money than you can afford in one transaction, based on your money management plan.

 

Is it realistic to make money on trading in general?

 

Today on the Internet you can often come across the opinion that it is impossible to make stable money on Forex. By and large, all these people write off their failures to the market and do not admit their own mistakes.

 

In principle, they could be believed if not for the stories of George Soros, Larry Williams and many other people whose life credo is speculation in financial markets. And there are many success stories among traders with less capital.

 

If you asked them if it is possible to make money on trading, they would definitely answer “Yes”. Because for them, trading in the financial markets is more than just a form of income. In fact, this is their life, and such people cannot imagine themselves without quotes and analysis.

 

Therefore, if you want to join their ranks, you also need to completely immerse yourself in this world and become a part of it. Successful speculators are aware of all the latest events and really know what factors will affect a particular asset, both in the short term and the long term. On this they build their Forex strategies, which bring them stable profits.

 

Indeed, making money on trading is rather a state of mind. Those who once tasted the “taste of profit” will no longer be able to live differently. After all, the doors to a completely new world open before you, where your potential income is limited only by your financial capabilities.

 

How much can you earn by trading?

 

This is another important question often heard from beginners. In fact, it is complicated to give an unambiguous answer to it. Someone earns an income of thousands or even hundreds of thousands of dollars. Soros, for example, with his fund turns around billions.

 

Traders who do not have such opportunities earn more modestly. But those who do this regularly reinvest the profits and thus increase 

their potential.


And one more important point. Starting at $ 10 is unlikely to quickly achieve the same results as those who start at $ 1000 with the same practical skills. After all, here money management is included in the work, which must be strictly observed to receive income from trading in the long term.