Fantastic Morning Friends, I'm starting this thread in a hope to bring some Licensed and Licensed Forex Traders to shed some light on Forex Trading. Thus, basically its about Forex Trading rather than Forex Teaching or Selling Forex products. It is just an attempt to bring some consciousness about Forex and also to conserve a lot of people from wasting thousands of dollars, time and energy. In addition, I understand that these kind of threads are largely ignored because of the simple fact that this kind of discussion isn't appreciated by many (afternoon dreamers, gamblers, Forex teachers and Marketers). Please participate, Thanks.

Is Forex Real, Is it Profitable? .... IT'S REAL and it's profitable.

But Why would 90% traders fail?

BECAUSE, Forex isn't EASY and to be SUCCESSFUL, you have to go through few phases successfully.
You're able to evaluate your willingness by performing a checklist under and ask yourself whether you're really ready to go Live?

Stage1: Learn Forex, Practice Forex, loe a egy Follow it using subject

simply to know it better, let us assume we've got 100 new traders that wants to try Forex for various factors. Now the first three components; Learning, Practicing and Finding a profitable ( suitable) egy for you could be easy as lots of FX resources available (online, forums, novels mentors) BUT is still quite time consuming tasks. And one of those 100 traders, there are those from different backgrounds, a few work full time, some research full time, many have a running company and it's really difficult to spare time needed for those tasks. If they pass those tasks, then the hardest part is quite difficult to passto Follow your egy. Just how a lot of those 100 traders, would you think, will finally pass the stage successfully? For eduional purpose only, let us assume (50% success rate, Thus 50 from 100 are out)

Stage2: Enough Funds to encourage your Equity.

Insufficient money is what neglects the majority of the traders in this sport. And by Enough Funds I don#8217;t imply $1,000 or $10,000 but it#8217;s in $100,000 plus trademarks. Since it#8217;s not realistic to have a little account size and expect making a living from it. That#8217;s the error many traders make. And this is what makes them trade big lots that wind up in margin calls. If a trader only follows this principle of not risking over just 1 or 2% on any transaction, there's absolutely no way to blow off the account anytime soon. What#8217;s the average account size of a new trader? $500-$2000? And what do you think could be a realistic expectation a month from this account? Only $10-50 (that#8217;s still a lot). Is it worth it trading that difficult for a month for just $50? One can earn more than that in one day by working with minimum wage and no investment to risk. Let us assume 20% success rate here, so we've got only 10 traders left that successfully finished the first 2 phases.


Stage3: Loing an Honest Broker (10

That is a stage, which is completely from a trader's controller and here I completely agree with evertontrade#8217;s point of view which NEVER STOP BEING SCEPTICAL(https://www.nigeriaforextrading.com/...x-trading.html). Let#8217;s say all those remaining 10 traders are prepared to go Live by investing their hard earned money with a broker. Some of the 10 trader#8217;s may collapse pray into a bucket stores (brokers) and will face all the issues like (platform issues, spread widening, re quotes, SL searching, withdrawal issues, etc etc.) and What are the odds of the remaining traders?

Never Quit Being Sceptical...
Let#8217;s say they are quite good at implementing their egy and are profitable, the inquiry is For How Long? By going Live and from trading with a broker, they are actually showing their egy to a broker. Who is a broker? A thing which has 1000 times more Funds/Money that the trader. Why don#8217;t they (broker) just follow these profitable trader#8217;s trades, instead of earning only 2 pips spread from them? Why don#8217;t they (broker) just hire those few profitable trader#8217;s and let them trade for them in large digits? Can there be some impact on a egy when it reaches the masses? What if all or the majority of the traders use the exact same egy?
Never Stop Being Sceptical...