Many new traders have the mistaken believe that it is easy to make money currency trading. Unfortunately most new traders will this belief end up losing a big chunk of their live trading account. Many people do make money trading forex but it usually comes after a lot of heartache and hard work.
It is currently estimated that nearly all new traders give up trading after six months after incurring losses, in some cases these losses can be substantial. This reiterates the importance of the statement â€œOnly trade money you can COMFORTABLY AFFORD TO LOSEâ€.
The few traders that are still around after the six month period will have inevitably have learn a lot about trading, but it is unlikely that they will be making good money on a consistent basis.
I have been trading for around three years and I have only been doing consistently well in recent months. Like many I had massive issues with risk management in forex.
I have written this article to try and prevent people losing money and to make people aware of how risky FX Trading is.
The bottom line is you can make money with forex trading, but it is a long journey with a steep learning curve. It requires immense patience and discipline.