The question whether trading on the foreign currency exchange is profitable can come to your mind for several reasons. Perhaps you’ve been trading for an extended period of time, but seems you cannot find a profitable strategy, or perhaps you are just beginning and not sure where to start. The simple answer is that this market is profitable, otherwise no one would be trading there. The truth is that there is a learning curve that needs to be bolstered by strong discipline and patience.
- Forex trading can be profitable even for someone new to investing but it is often not consistent.
- Forex trading comes with predictable losses but these are often a symptom of the investor’s psychology rather than market mechanics.
- Forex trading is not meant for everyone and those that are successful have the freedom, risk, patience, and diligence to invest.
“In another degree, I can say that those who master the psychology side of trading have higher chances of becoming a profitable trader.”