Forex Trading is Good or Bad

Forex trading is good or bad depending on the trader’s attitude on how to treat it. Forex trading can be good if you are making money (profitable) with it. It can be bad if you are just losing money and wasting time with it. It can be bad if you treat forex trading as a “gambling”. Of course, gambling is “immoral”way of living.

Is forex good way to make money? Yes of course, there are many forex traders who earn a living through it.There are also forex trader who made a fortune because of trading. Some people replaced their 9 to 5 day job through forex trading. It is not easy, but it is worth doing it. That is a challenging part in forex trading, learn to earn!

Maybe you will ask to Daily Investing Tips today, how to start trading forex? Well, the answer to that question is easy.

First,you have to decide if forex trading is a “yes or no” for you.A big yes if you are passionate about currency trading and wants to make money while doing the trading. A big no if you don’t want to lose money, don’t have to learn the necessary skills and knowledge,spend time to deal with losses, upsets,disappointments,etc.

Forex Trading is Good or Bad

If forex trading is bad, why therearemany forex traders who earn a living and make good fortune.Besides, banks and other financial institutions trade forex to make a lot of money. They will use other’s people money to trade forex and give their clients (you as a savvy saver in the bank) give less than 1% of their profits.

If forex trading is good why there are many traders who lose not just $100, not just $500, not just $1,000 and some lose even million dollars.

Is Forex Trading Worth it?

Is forex trading worth it (time and money)? Forex trading can give you financial freedom and time freedom.However, you have to do what it takes to become a successful, profitable and professional trader such as;

• self-disciplined
• mastering emotions and mastering your self
• developing trading strategies that takes years to know if it works or not
• analyzing charts, graphs,reading JCP Japanese Candlesticks patterns
• dealing with forex brokers (many of them are scams)
• and of course money management in forex trading

Forex Trading YES or NO?

If you are undecided whether forex trading is yes or no, you have to review and read what other forex traders experiences, journeys,and their useful recommendation whether forex trading is right for anybody.

Is Trading Good or Bad?

Is trading good or bad?It is good if you treat trading a business and profession.It is bad if you treat it as a gambling. Maybe you asked, how do I know if i am gambling not trading forex? The answer is simple.Ifyou are driven by greed and revenge. Greed because you want to get rich overnight. Revenge because you want to recover your losses.

Is Forex Trading Legal?

There are many countries restrict forex trading. But some countries tolerate forex trading. In the Philippines, forex trading is somewhat undefined “legal or illegal”. SEC Securities and Exchanges Commission warns forex traders.

If forex trading is legalto your country, then congratulations. Because your government knows what can forex trading can do to its citizens. If forex trading is illegal,then do something to create an account with the forex brokers that allows you to deposit and withdraw funds.

• DEPOSIT: To have trading account balance
• WITHDRAW: To get what you earn from forex trading (encash your profits)

Here is some of the best guide you want to read about finding a good forex broker.

EURUSD Chart from TradingView used in InvestmentTotal.com article entitled “FOREX TRADING GOOD OR BAD

Pros and Cons of Forex Trading

What are the pros and cons of forex trading? The pros (advantages) and cons (disadvantages) of forex trading areas follows;

Pros of Forex Trading

• allow you to trade anywhere as long as you have internet connection
• easy to liquidate
• help you achieve time and financial freedom (if done correctly)

Cons of Forex Trading

• forex trading involved high risks
• it is not easy to trade foreign currencies
• dealing with brokers(some are scams)

Can You Make Millions Trading Forex?

Another big question is can you make millions trading forex? Yes,of course! But don’t expect to make millions if your capital is $100. In trading and investing, always remember that REWARDS are proportionate the RISKS.

If you want to make millions trading foreign currencies. Invest your time by learning how to become a professional forex trader. Practice patience.Patience and Self-disciplined is the key to become a profitable forex trader. You do not have to spend more money to learn how to trade forex.Just watch video on YouTube, read blogs and articles, Ask forex traders on forums.Attend seminars and workshops.Download PDF Files related to forex trading, etc.

And most of all, take action. Open a demo account and execute your first trade using different platforms such as MT4 (meta trader 4) and MT5. Some brokers has of course trading platforms. Just learn to lose,learn from those losses. Don’t be afraid to make mistakes and learn from your trading mistakes.

Forex Trading is Good or Bad Final Answer

So, the answer to the question- forex trading good or bad is…

“Forex trading is good if treat it as a business that allows you to achieve financial freedom and time freedom. Forex trading is bad because you treat it as a “gambling”.

For more information about forex trading, always visit Daily Investing Tips www.InvestmentTotal.com for guides, useful articles, experiences,forex trading strategies.Join me in my forex trading journey!