i am new in this venture and have try many ways that been teaches in books and DVD in my demo account but most of the method , i have came to feel like is not working ,can we really earn a living just by trading forex or is it all about luck ?? i mean if the method teach by all this gurus really work why they took all the time to write books or conduct seminar , wouldn’t it be much more easy if they just spend a few hours a days in forex market and make a big sum of money ??? as most of the book promote a very free style of living and making a handsome amount of money ….
You’ve already spotted the con with the whole book-writing and DVD thing. If I had a real secret or formula for trading currencies, why would I tell anyone, when I can simply sit 2 hours everyday and make US$12 million in profits. There’s no such thing as a secret or optimal trading technique, what these guys teach you is basic economics principals. Sometimes their textbook principals are flawed as well, and these guys make so little money actually trading forex, that they probably make 10 times that amount by selling books and DVDs .
Back to your question, and the answer is plain and simply: no, you cannot make a living trading forex as an individual. Some organizations do it, but they’re utilizing massive amounts of labour and technology and even they get it wrong sometimes. This whole concept about not working hard but being able to make easy money is one of the biggest scams that’s been in existence since who knows when. I personally don’t feel that you need to work "hard" either, you must work smart, save smart and spend smart.
It’s also highly speculative, you need to know the news minute by minute and you need a fundamental understanding of economics, supply and demand, finance, politics and basically every other facet of knowledge if you wish to scrape pennies trading currency.
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