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Is Forex reliable?

  • #501
  • Oct 24, 2020 1:33pm Oct 24, 2020 1:33pm
study+practice= discipline+determination = perfect combination for the better result.
  • #502
  • Oct 26, 2020 1:35am Oct 26, 2020 1:35am
I agree, practice is crucial whether it is back-testing or live testing on demo. We must execute an adequate sample size of trades - the more the better.
  • #503
  • Oct 29, 2020 7:35am Oct 29, 2020 7:35am
Quoting ElComandante
I have heard many rumors about Forex that Forex is not reliable and Forex is a risky business and you can loss all your money. So I am very confused about Forex so plz help me and tell me Is Forex reliable or not?
You will most certainly lose money. Only 2 camps consistently make money in Forex:

1.Quant based strategies based on algorithms.
2. Long term global macro investors who have fundamental conviction.

Short-term trading, swing trading, scalping, etc is all rubbish.
  • #504
  • Oct 30, 2020 4:21am Oct 30, 2020 4:21am
Yes, Forex is reliable if you have enough knowledge about this market.
  • #505
  • Oct 30, 2020 9:46am Oct 30, 2020 9:46am
Is it? According official ASIC statistics (ASIC is the Australian financial regulator) about 63% of Forex traders lose money, and in many cases the reason is unethical practices by the brokers they work with. Those people may not lack knowledge but they still lose money.
  • #506
  • Nov 3, 2020 5:12am Nov 3, 2020 5:12am
Quoting Robertstarc
Yes, Forex is reliable if you have enough knowledge about this market.
knowledge is important, there is no way to ignore, but honestly speaking knowledge can be useless if there is no regular practice session.
  • #507
  • Nov 5, 2020 4:31am Nov 5, 2020 4:31am
Forex is reliable but need a best habit of tradings , as like focus on trading, maintain the trading descipline and much more.
  • #508
  • Nov 5, 2020 5:36am Nov 5, 2020 5:36am
i like to depend on Forex , because its really a royal business than others. generally we the take Forex as money making place and this greed comes from making profit from demo account.
  • #509
  • Nov 6, 2020 7:16am Nov 6, 2020 7:16am
dont depend on Forex , its more appropriate to depend on trading knowledge and experience including powerful money management.
  • #510
  • Nov 7, 2020 12:07am Nov 7, 2020 12:07am
Reliable as in leaving your job and depending on trading as your only source of income? I would have to say No, at least not till you become good at it.
  • #511
  • Dec 1, 2020 3:18am Dec 1, 2020 3:18am
It’s unreliable in the sense that it is highly volatile, so predicting price movements is an art that nobody has completely mastered. But it is certainly possible to make money if back tested strategies are used.
  • #512
  • Dec 1, 2020 7:56am Dec 1, 2020 7:56am
Quoting Deepak.Dubey
Reliable as in leaving your job and depending on trading as your only source of income? I would have to say No, at least not till you become good at it.
True. Trader need time to master the trading. I prefer trading as side business or part time.
  • #513
  • Dec 1, 2020 9:25am Dec 1, 2020 9:25am
How successful is it when one trades in that manner though?
  • #514
  • Dec 1, 2020 10:37pm Dec 1, 2020 10:37pm
Quoting numbnuts
Currencies will always go up and down, you can rely on that The rest is up to you, not the market
Still powerful man, the best way to look at it.
  • #515
  • Dec 4, 2020 8:27am Dec 4, 2020 8:27am
Yes. Forex is very much reliable platform to earn money.
  • #516
  • Dec 4, 2020 9:08am Dec 4, 2020 9:08am
Personally, I wouldn't call it reliable. The majority of traders lose money, that is an unfortunate fact confirmed by financial regulator statistics.
  • #517
  • Dec 4, 2020 11:31pm Dec 4, 2020 11:31pm
Quoting mlawson71
Personally, I wouldn't call it reliable. The majority of traders lose money, that is an unfortunate fact confirmed by financial regulator statistics.
Isn't the problem being the traders for having poor knowledge and bad understanding in how forex trading works? Part of me think they jump to conclusion the moment they heard or see the word "YOU WILL MAKE THE MONEY" and trapping themselves.
  • #518
  • Dec 5, 2020 8:38am Dec 5, 2020 8:38am
That is a problem, but not the only problem, especially according to official state regulators. Brokers are deliberately misleading traders and fostering that ignorance.
  • #519
  • Dec 6, 2020 11:59pm Dec 6, 2020 11:59pm
broker is really a complicated issue in Forex trading , so we the traders have to choose it with cool mind , because any kind of broker can affects the result of our trading with certainly.
  • #520
  • Dec 7, 2020 2:47am Dec 7, 2020 2:47am
Forex can be a fun way to make money by practicing trading strategies and risk management. This last part is very important. It can save your energy, and you will need the energy to trade another day. Because currency prices are a little lower on a daily basis, it is important to take advantage of forex trading to make it profitable.
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