Many forex traders turn to the markets in search of a new life and with hopes of getting rich, is it possible, can you make living trading forex?
The majority of forex traders fail, and a lot of them lose large amounts of money, to greed and a lack of control, most people are not prepared for the emotional ride and think they will be successful forex traders in a day.
Leverage can be brutal, it can be good for you or very bad for you, if leverage is not kept under control and the market goes against your trade then you could be skinned alive. it can lead to substantial losses, this is one reason why forex traders lose money.
The volatility of the forex markets can also pose challenges to the aspiring trader, many people may also ask the question, is forex trading profitable, well yes through consistency and dedication and knowing your psychology.