{"id":9359,"date":"2018-07-24T11:14:45","date_gmt":"2018-07-24T10:14:45","guid":{"rendered":"http:\/\/www.wasteyourtime.co\/?p=1635"},"modified":"2019-09-09T13:26:49","modified_gmt":"2019-09-09T12:26:49","slug":"forex-trading-profitable","status":"publish","type":"post","link":"https:\/\/traders-paradise.com\/magazine\/2018\/07\/forex-trading-profitable\/","title":{"rendered":"Forex Trading is Profitable. Right or wrong?"},"content":{"rendered":"<p style=\"text-align: right;\"><i><span style=\"font-weight: 400;\">2 min read<\/span><\/i><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1636\" src=\"http:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/is-forex-trading-profitable-e1532426550823.jpg\" alt=\"Is Forex Trading Profitable?\" width=\"700\" height=\"467\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Forex trading is profitable but<a href=\"https:\/\/traders-paradise.com\/magazine\/2018\/11\/cryptocurrency-market\/\"> the market isn&#8217;t endless<\/a>, you have to know that. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The size of your trade has an important impact on how you can bring a trade out. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Don&#8217;t look at the percentage of what a so-called pro-trader does. People like to think in percentages way too much. <\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_74 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/traders-paradise.com\/magazine\/2018\/07\/forex-trading-profitable\/#Percentage_of_what\" >Percentage of what?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/traders-paradise.com\/magazine\/2018\/07\/forex-trading-profitable\/#For_the_FX_market_you_can_be_small_fish\" >For the FX market, you can be small fish. \u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/traders-paradise.com\/magazine\/2018\/07\/forex-trading-profitable\/#Take_this_as_a_recommendation\" >Take this as a recommendation:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/traders-paradise.com\/magazine\/2018\/07\/forex-trading-profitable\/#Why_Im_saying_this_to_you\" >Why I&#8217;m saying this to you?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/traders-paradise.com\/magazine\/2018\/07\/forex-trading-profitable\/#Forex_trading_is_profitable_but_not_for_everyone\" >Forex trading is profitable but not for everyone<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/traders-paradise.com\/magazine\/2018\/07\/forex-trading-profitable\/#Trading_Forex_isnt_a_%E2%80%9Cget_rich_quick%E2%80%9D_method\" >Trading Forex isn&#8217;t a &#8220;get rich quick&#8221; method.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/traders-paradise.com\/magazine\/2018\/07\/forex-trading-profitable\/#Risk_control_Double-check_Opened_eyes_Use_the_excel\" >Risk control! Double-check! Opened eyes! Use the excel.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/traders-paradise.com\/magazine\/2018\/07\/forex-trading-profitable\/#Forex_trading_is_profitable_for_me\" >Forex trading is profitable for me.<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"Percentage_of_what\"><\/span><b>Percentage of what?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">When you start, you can have someone who would be your ideal or paragon. But you always have to keep in mind that such trader is already experienced in trading. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">She or he does some things spontaneously, and <a href=\"https:\/\/traders-paradise.com\/magazine\/2019\/06\/question-everything-when-trading\/\">you are the one who just stepped in on this scene<\/a>. But if you&#8217;ve mastered some trading skills and have tested them well on some free demo account, you may have even one advantage. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The experienced traders have more money, it is a blessing and a burden at the same time.<\/span><b><i> But you can be more flexible to trade with high precision very close to how the market moves.<\/i><\/b><\/p>\n<p><span style=\"font-weight: 400;\">What I want to say is,<em><strong> y<\/strong><\/em><\/span><b><i>ou should never underestimate a \u201csmall\u201d position<\/i><\/b><span style=\"font-weight: 400;\">. Forex trading is profitable even in that situation.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"For_the_FX_market_you_can_be_small_fish\"><\/span><strong>For the FX market, you can be small fish. \u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">But that \u201csmall fish\u201d can make a couple of hundred USD per pip. Is it good enough for you? Well, that&#8217;s why comparing percentages without comparing the actual pot is an unnecessary exercise.\u00a0<\/span><br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1637 alignright\" src=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2018\/07\/is-forex-trading-profitable-2.jpg\" alt=\"Is Forex Trading Profitable? 1\" width=\"259\" height=\"194\" \/><br \/>\n<span style=\"font-weight: 400;\">But it isn&#8217;t easy. Hard and smart work lies behind it. Of course, you have to involve a bit of luck to find the right stocks, right things while your motivation is still on the top. But when you make any success, you will see it is worth it.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But <\/span><b><i>you have to be dedicated to trading<\/i><\/b><span style=\"font-weight: 400;\"> in order to be able to trade when markets move the most. If you live in a European time zone it is from the early morning to the afternoon. But if you live in some other part of this lovely planet I would <a href=\"http:\/\/traders-paradise.com\/magazine\/2018\/07\/what-are-the-best-days-for-forex-trading-and-why\">recommend to your attention, one of my older posts.<\/a><\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some traders said: <\/span><b><i>I\u2019m trading short term on the 1-minute candlestick chart.<\/i><\/b><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Take_this_as_a_recommendation\"><\/span><b>Take this as a recommendation<\/b><span style=\"font-weight: 400;\">: <\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Average holding time depends on what the markets offer you but it is rarely under 6 minutes and rarely over 20 minutes. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Stay focused on reversal signals and have pay attention to good ones and fake-signals apart. Support\/resistance areas play a role but you need to practice to be good at it. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">You have to treat trading as a profession or a business. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Only in that way success will come.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_Im_saying_this_to_you\"><\/span><b>Why I&#8217;m saying this to you?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1639 alignleft\" src=\"http:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/is-forex-trading-profitable-3-e1532426773921.jpg\" alt=\"Is Forex Trading Profitable? 2\" width=\"350\" height=\"350\" \/><span style=\"font-weight: 400;\">I have a friend. Forex trading has been an expensive venture for him, indeed. In his first 2 years of trading, he lost $30k. He almost went bankrupt because he was naive and greedy. His main problem was, he entered at the wrong time and exit at the wrong time. No matter what he did he was always on the wrong end. At that moment we couldn&#8217;t talk about how forex trading is profitable, right? This improved drastically when he found his own method. (And maybe this is the secret of any successful trader.) Now he has been profitable for over 15 months. <\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Forex_trading_is_profitable_but_not_for_everyone\"><\/span>Forex trading is profitable but not for everyone<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">But I&#8217;ve seen a numerous amount of people lose everything in trading.<\/span><br \/>\nHundred and thousand times you should ask yourself:<\/p>\n<p>Why do I trade? To become rich? Is it a\u00a0hobby?<\/p>\n<p>Do I love it or I hate it? Is forex trading harmful to me?<\/p>\n<p>Why I am forcing myself to all of this? Just for a chance to be a member of the profitable 5% club?<\/p>\n<p>Did you ever hear the saying: <em><strong>&#8220;If you don&#8217;t know who you are, the market is an expensive place to find out.&#8221;<\/strong><\/em><\/p>\n<p><span style=\"font-weight: 400;\"><strong>And the most important question is<\/strong>:<\/span> Is trading really worth the effort invested?<\/p>\n<p><span style=\"font-weight: 400;\">Trading attracts mostly because of the freedom it provides. <\/span><br \/>\n<a href=\"https:\/\/traders-paradise.com\/recommends\/city_index_uk\/\" target=\"_blank\" rel=\"noopener noreferrer\"><br \/>\n<img decoding=\"async\" class=\"size-full alignleft\" src=\"http:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/forex-Google-BillBoard.png\" alt=\"\" \/><br \/>\n<\/a><\/p>\n<h3><\/h3>\n<h3><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"Trading_Forex_isnt_a_%E2%80%9Cget_rich_quick%E2%80%9D_method\"><\/span><strong>Trading Forex isn&#8217;t a &#8220;get rich quick&#8221; method. <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">With constant profits in order to make enough money not only to live but to build up a constant surplus. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, you can move on with your plans and plan your life. Maybe your focus on how much money you can make per year isn&#8217;t the best. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">You may think you can see better, you know better and you can believe in that. But that is a great paradox and tiny line. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you cross it, it can be the biggest tragedy. In every single moment, you have to take care of risk control. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">It doesn&#8217;t matter what you see or you think you know. <\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Risk_control_Double-check_Opened_eyes_Use_the_excel\"><\/span><b>Risk control! Double-check! Opened eyes! Use the excel<\/b><span style=\"font-weight: 400;\">. <\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Sometimes, even the things you wrote before can be very helpful. Having some downloaded system is useful but money management is <\/span><b>KEY<\/b><span style=\"font-weight: 400;\"> to success. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">To gain knowledge of how to make a profit is much much more than what you can learn from a job in the corporate world. <\/span><\/p>\n<p><b>The knowledge has to be the goal.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Yeah, I know. Time is money. <\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Forex_trading_is_profitable_for_me\"><\/span><b>Forex trading is profitable for me.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Is it worth it?<\/b> <b>Yes!<\/b><\/p>\n<p><b>Should you continue trading?<\/b> <b>Yes!<\/b><\/p>\n<p><b>Should you continue with your studying?<\/b> <b>Yes!<\/b><\/p>\n<p><b>Should you continue looking for a job?<\/b> <b>Yes!<\/b><\/p>\n<p><b>Can you manage to do all of these things at the same time?<\/b> <b>It is up to You.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The main factor for success is your permanent education and training. You have to believe in yourself and find what works for you.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The only thing that <\/span><b>brings<\/b><span style=\"font-weight: 400;\"> you to your <\/span><b>failures<\/b><span style=\"font-weight: 400;\"> may be your<\/span><b> ego.<\/b><\/p>\n<p>And if you aren&#8217;t ready to keep going after a series of losses, Forex probably isn&#8217;t for you.<\/p>\n<p><a href=\"https:\/\/traders-paradise.com\/magazine\/2018\/07\/money-risk-trading\/\"><b>Risk Disclosure (read carefully!)<\/b><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>2 min read Forex trading is profitable but the market isn&#8217;t endless, you have to know that. The size of your trade has an important impact on how you can bring a trade out. Don&#8217;t look at the percentage of what a so-called pro-trader does. People like to think in percentages way too much. Percentage [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":10936,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[1014,1012],"tags":[328,125,113,329,171,330,104],"class_list":["post-9359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex","category-traders-secrets","tag-find-right-stocks","tag-forex","tag-investing","tag-is-forex-profitable","tag-online-stocks","tag-risk-control","tag-trading"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Forex Trading is Profitable. 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