Forex trading is one of the best professions in this world. It is also a unique opportunity to every individual to earn. This business is very different than other business for many reasons; first of all we don’t need to report anybody. There are no strict schedules here; we can do forex trading at our own timings. We’re our own boss and we can take every good decision without any restrictions. So our role is very important here. Profit or loss is also very much dependent on our capabilities, experience and knowledge. If we’re skilled then we can make good profit. In other hand if we’re not good at trading then we may face losses.
Why we think forex is risky business?
It’ll not take a second to blow our account if we don’t know how to trade. Is it true? Yeah, it’s true. Forex is not a game and if we do not trade carefully then we’ll lose everything in a small span of time. If we go against the trend or if we do not put stop loss into our trading orders then we’ll face heavy losses. It is also possible that if we open big lot size orders then we may lose every penny. So we must be careful enough while trading. To trade carefully we need a good strategy or we must know what we’re going to do with our money.
Knowledge Or Money, what is important?
In forex trading success is only possible if we’re good at trading. However it is not easy to be successful in forex trading profession. Even with big investment nobody would earn anything if he/she is not knowledgeable. In other words knowledge has greater importance in forex trading profession. More we learn more we able to handle our trades properly. In forex trading we don’t need to invest any big amount just for the sake of earning. A small investment could bring good profit if we trade with proper strategy. Knowledge and practice both are essential to become successful. That’s why expert traders always suggest us to learn. Here I want to say knowledge is more important than money. Here a trader cannot survive even with good money. While with small amount of money a trader can survive if he/she trade with the trend.
It may take time to become successful in forex trading profession. For a greater success we need to learn the basics at first. After that we need to go for advance learning process. Learning is a continuous process. We need to learn everything which can help us to understand this profession better. We may fail sometime but we should never give up. We must need a positive attitude.
I would like to put an example why learning is important for us and why it is not different than any other profession.
If a student want to become doctor, then he/she must need to work hard to complete MBBS course. In this process the student has to spend a lot of money and time. After completing MBBS course a person must need to practice well in order to become a qualified doctor. More practice brings more success and thus more patients get benefited.
The above example is just to show you that no work is easy. Or we can’t get success easily. In any profession we need to work hard and here knowledge always plays an important role. I hope if you want to be a professional trader you must give more importance in learning.