Can Trading Forex Really Make You Financially Secure For Life?

If you are new to the world of Forex, it is highly likely that you will have come

across websites claiming to be able to ease any financial burdens that you may have and lead you on the way to complete financial security for life by trading on the foreign exchange market.

It is also likely that you will have dismissed these straight away, believing that no one could become financially secure in the short term by buying and selling currency, never mind for life.

Whilst some of these websites do turn out to be nothing more than misleading marketing campaigns, a lot of them do state what is true, that becoming financially secure with Forex is very much a reality.

The problem is, it is not as easy as most of these websites make out.

Ask any Forex trader around the world and they will tell you that in theory, you could make a million pounds in a matter of hours with Forex. It is not something that is particularly apparent with individual and personal traders, but on paper, it is a possibility.

So if it is possible, why doesn't every trader, or in fact everyone, do it?

The answer to this is the same as the answer to why Forex is not a get rich quick scheme and it is simply that nothing is guaranteed on the foreign exchange market and traders can only make educated guesses.

With gambling, gamblers know that they rely heavily on luck. As much as they may believe that they have a strategy or formula that is a winning one, in some games they have to rely solely on luck.

Although some people believe Forex is no different to gambling, the fact is it is massively different and luck should not play any part in trading, as the more the trader relies on luck, the less involvement they have themselves and the greater the chance is of them buying or selling currencies at the wrong point.

All traders learn about Forex in depth before they even look at a platform or system like Metatrader 5 and begin live trading, meaning that they should be able to write down on paper how a trade should exactly go and what parameters they set themselves for buying and selling, very similar to gamblers. The difference begins to be apparent when traders starting live trading (through a system such as Metatrader 5) as unlike gamblers, as long as they adhere to the knowledge that they have learnt, the odds are stacked in their favour of carrying out a successful trade. Yes, they may make a loss on a trade or two, but by utilizing their knowledge and harnessing what they have learnt, the educated guesses they make should pay off no end.

The answer to the initial question is a simple one - yes, it is possible to become financially secure by trading Forex. However, it is not an easy task, nor something that can be carried out overnight and months upon months of time must be invested and dedicated before any trader can begin to think about becoming financially secure for life.

by: Jeremy Watts

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