Thread: Is forex trading a money losing machine?

No, that's not the case because you need to take a look at your pwn performance and not the FX Market, and you need a good broker like FBS Markets as well

If you bring yourself to forex trading with greed, you will lose more money.
I know every traders has a passion to make profits and they forgot to learn how to be a good trader.

One more case of a real money loosing machine is unlicensed broker. They can take your money and disappear any time. It's like a thief. FCA recently warned about broker SunbirdFX that doesn't have licence and I think it's quite a good idea to avoid this broker.

Originally Posted by gaban

If you bring yourself to forex trading with greed, you will lose more money.
I know every traders has a passion to make profits and they forgot to learn how to be a good trader.

It seems like that as many of the new traders does loose a lot of money but thats mostly due to ignorance they do in having a proper plan for trading.

Originally Posted by orni308

It seems like that as many of the new traders does loose a lot of money but thats mostly due to ignorance they do in having a proper plan for trading.

Lack of trading plan and unwilling to learn more about forex trading is the most reasons why newbies losses their money in forex trading.

Originally Posted by Luthfi Maung

Lack of trading plan and unwilling to learn more about forex trading is the most reasons why newbies losses their money in forex trading.

And that's why most newbies called this business as money losing machine. They couldn't even survive on several demo accounts...

Originally Posted by AndikaAnjani

And that's why most newbies called this business as money losing machine. They couldn't even survive on several demo accounts...

A trading plan itself should be trained since traders still hanging around in demo account, because a good trading plan will supports their trading performance in the future...

No, Forex is a good way for money making so if you are a good trader and have a good broker then you can get success. I have FBS Markets

In my view it is down to how we do trading, if we are working without using common sense then we will obviously struggle quite a lot, but if used properly then it can turn out to be a great money making machine, it is the only reason even with near 90% losing ratio, it is still one of the most popular business online. I really find it interesting and highly profitable especially with OctaFX broker, it helps me avoid losses or at least keep them at bay, it is thanks to their rebate program where I am able to earn 15 dollars profits per lot size trade, it includes the losing trade too, so that’s why I love it so much.

Forex is a really lovely business and to be calling it as money losing machine, it is one of the worst things to do. I believe that Forex is a sort of business where we could make real money and that’s too without any major difficulty, but if we are educated enough. I started off very roughly, but with time I got into good zone and with Nova FX, it has been working wonderfully well due to their free 200 dollars welcome bonus that’s ideal for practicing.