Don't fall for the argument that you can "learn" Forex.
There is enough scientific proof out there that you can't learn to outpredict a negative sum market in a sufficient and consistent way over a longer period of time to make a risk adjusted, consistent profit...... There is a reason why all financial products have the warning "past performance is no indicator for future results".
So the only thing you will learn (if you are smart enough) is to understand that the market is indeed very efficient (especially true in extracting retail traders money). Most likely you'll end up with a gambling addiction due to the leverage involved and continue to waste your time and your money over a long period of time.
In my opinion to earn money you must.....
- have a significant lower leverage than the average participant in what you trade --> you need money to make money.
- have price relevant information earlier and in a better quality then most of your compeditors - expensiv data mining, alternativ data sources, insider knowledge
- have tools that allow you to trade faster than others - HFT and arbitrage
- have tools that allow you to trade at lower costs than most others
....and never underestimate the impact of luck - even over long periods of time.
What else are retail traders doing than just placing bets out of thin air?
You will learn the the market is structured in a way that money is getting extrated from retail traders at a truely breath taking speed and you won't be an exception. If this wouldn't be the case, there wouldn't be hundereds of companies offering retail forex trading, paying hundereds of millions a year to sell the dream via marketing of all sorts and by putting a giant affilliate marketing army to work to hunt for new victims and still make signifant profits year in year out.
There is enough scientific proof out there that you can't learn to outpredict a negative sum market in a sufficient and consistent way over a longer period of time to make a risk adjusted, consistent profit...... There is a reason why all financial products have the warning "past performance is no indicator for future results".
So the only thing you will learn (if you are smart enough) is to understand that the market is indeed very efficient (especially true in extracting retail traders money). Most likely you'll end up with a gambling addiction due to the leverage involved and continue to waste your time and your money over a long period of time.
In my opinion to earn money you must.....
- have a significant lower leverage than the average participant in what you trade --> you need money to make money.
- have price relevant information earlier and in a better quality then most of your compeditors - expensiv data mining, alternativ data sources, insider knowledge
- have tools that allow you to trade faster than others - HFT and arbitrage
- have tools that allow you to trade at lower costs than most others
....and never underestimate the impact of luck - even over long periods of time.
What else are retail traders doing than just placing bets out of thin air?
You will learn the the market is structured in a way that money is getting extrated from retail traders at a truely breath taking speed and you won't be an exception. If this wouldn't be the case, there wouldn't be hundereds of companies offering retail forex trading, paying hundereds of millions a year to sell the dream via marketing of all sorts and by putting a giant affilliate marketing army to work to hunt for new victims and still make signifant profits year in year out.