Is Forex Trading Profitable?
The short answer is yes, Forex trading is profitable. The slightly longer answer is yes, trading in the Forex market is profitable but chances are you won't make any money.
The pathway to becoming profitable by trading Forex is different for each person, but the formula is the same.
Someone can make millions from one transaction while others will have to make several transactions before reaching the millionaire status.
You 'main job' as a Forex trader is to manage risks effectively. If you do it really well, then you will make a lot of money as a trader. So many amateur traders focus excessively on making so much money in a short period, and they ignore all the stop signs. Guess what? You are correct they crash eventually, lose all their funds and move back into their mother's basement.
You can have the most excellent Forex trading plan known to man. Without mastering the art of risk management, you will lose in the long run. To avoid these traps, you must remove the naughty thoughts of money and instead replace it with efforts on learning how to become a great risk manager.
You must be able to leverage your self-control and patience in every situation, under any level of stress. Once you become an exceptional risk manager, the profits will follow. Focus on risk management, and you will be profitable trading forex.