Can forex trading lead to financial success? This is not a yes or no question. If you are an experienced currency trader with years of market expertise or an investment fund with significant resources, then trading may potentially turn out to be lucrative for you. For a normal retail trader on the other hand, trading foreign exchange can be a daunting path that may lead to significant losses.
Can forex be profitable?
One can potentially profit from forex trading if timelines are taken into account. For example, it is easier to be profitable if you are a short-term trader, that is when your trading timeline is for some days or weeks.
However, to generate longer-term profits, it is usually preferable that you have a lot of capital to leverage and have a risk-management strategy in place. Many retail traders can’t make it through the first months of trading forex.
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Trading requires knowledge of the market, beside learning technical and fundamental analysis to be a day trader.