Last Updated on Mar 30, 2020 by James W
Trading Forex is most challenging if you’re a beginner and just starting out to learn to trade. If right now, you find it hard to learn how to trade successfully, then you must wonder if a beginner can really make money trading Forex.
If you’ll look at the many Forex websites, magazines, forums and seminars, it seems like everyone is making so much more money trading Forex. Right? The truth is that Forex traders love to talk about their winnings in trades. They make themselves out to be wildly profitable traders. But the truth is that only 5% of traders in Forex are making money consistently.
So, can a beginner really make money in fx trading? The answer to this question isYes! Yes, even a beginner can make money in trading but there is great difference between making money trading Forex and making it full time and your main source of income.
You may ask, what is the thing that stops beginners from making money in Forex trading? Unlike professional Forex traders who are working with big banks, most beginner Forex traders are not paid full time to immerse themselves in the markets. Successful trading requires a lot of time and consistent effort. Most Forex traders who are starting out got a full time job which they spend at least 8 hours a day, their family and a social life.
Successful trading takes years of study, practice and experience in the actual market. All these will make them learn everything they need to know to trade Forex successfully. All these will get them to the level where they can make money consistently trading Forex.
Becoming a successful Forex trader requires too much time and consistent effort from you and that will alienate you from your social circle. That may also put you considerable strain on your relationship with your family too. This is the reason most Forex traders who want to learn Forex trading would give up 3 months and never make money in trading.
So what can you do to make money in forex trading now that you are starting out? The best shortcut I may suggest is to find a proven Forex trading system. Don’t go out there and pick just any system that you came across. You will not make millions with that, contrary to what most of them promised. You need to choose the right trading system carefully. They are rare and worth the research. Once that you find a trading system that works, you’ll overcome the biggest challenges in Forex trading while at the same time learn to trade. You will gain that valuable experience in Forex trading. They will help you make money trading Forex while at the same time learn the trade.
You may also get help from a reliable trading provider like CMC Markets. With CMC Markets, you can trade with confidence and feel secured that you are backed by the leading trading providers in the world.