It is not that easy to answer the question from the title but the stats show that there the success rate is not that high, and actually it is in the neighborhood of 5%, which is quite low and that means that there are about 95% of losing traders. Why is this the case? Well, to put it as simple as possible, it is not that easy to trade and be successful at Forex but that doesn’t mean that you can’t do it since don’t forget that one out of 20 people manages to make good money by trading on Forex.
One of the first thing that you have to know about Forex is that you can’t even think of starting trading before you learn all there is about Forex. There is no need to be smart and you don’t even need a college diploma, but you need to know the basics and to have a good feeling when it comes to the right moment to sell or buy certain currencies. There are many trading charts and other stats and you can use it all in order to make sure that you make some good money.
The main problem with a lot of traders is that they are too emotional and that is what is stopping them from becoming even more successful. That means that you need to forget about the emotions and simply think about the trading. You should cut the loss to the minimum and the thing is that there are probably going to be more non-profitable trades and especially in the beginning, but you need to make sure that there are more profitable trades and that is one of the keys of success.
Some of the traders are trying to “beat” the market but that is not an easy thing to do even for some of the biggest traders out there, which means that you need to adjust and to find your place at Forex. You need to follow the path and that is the only way for you to become successful. You will have to try hard and on that road you are going to fail a couple of times, and maybe even many times, but that doesn’t mean that you should quite.
Forex is a like a modern arena in which you are fighting with the currencies and trades are your weapon. You need to use them properly, be patient, and eventually you are going to make the profit. Maybe that is not going to happen very fast, but there is no doubt that Forex is one of the best places on the internet where that can happen for sure.
Forex is one of the best opportunities for everyone to make some good money and if you want to become one of them, all you need to do is learn and try hard. Also, don’t forget that quitting is not an option no matter what.