Can anyone be a Forex Trader?

[Klem]

That is the holy grail...

 

[Pharaoh]

For big traders and bad brokers, knowing what a bunch of small traders are about to do can be a holy grail. Sive talks about some things that large market participants do to grab stops of small traders in Forex Military School.

 

[uwei]

In any market, if someone comes up with a successful trading method and enough others find out about it, eventually, it will stop working.

For example, imagine if a simple 5x10 MA cross worked perfectly on one pair and many thousands of people started using this method. How long would it take until some BIG traders noticed that piles of smaller traders were making some very predictable trades? How soon until they figured out a way to take advantage of it?

On a darker note, how many bucketshop brokers buy up the latest EAs and run them on a fast computer connected directly to their MT4 server? Imagine knowing 1/100 of a second in advance of when a popular EA would open a trade. How easy would it be to widen the spread?

There are many ways to skin a cat, just like there are many ways to play this Forex trading game.

Even if a trading strategy is popular and widely used, with a daily turnover volume of USD4 trillion in the Forex market, there is no reason a strategy will not work given the liquidity available in this market. Moreover, the Forex market does not just comprise of retail traders. Trade volume executed by retail traders is still relatively low compared to institutional investors and commercial hedging by companies.

 

[dete49]

Does this sire have a chat room that post trades in real time.Thanks

 

[Pharaoh]

Currently no. That does sound like a good idea. You could use the Contact Us link to suggest it to the admins.

 

[Mr. Euro]

Anyone can be a Forex trader as long as they are determined and willing to face the ups and downs of this business. It takes a certain amount of persistence, patience and the ability to adapt to changes easily and not all people have those qualities. If you can control your emotions, approach Forex trading as a business and not just there to gamble, and if you are willing to learn more about this industry then you are all set to becoming a Forex trader.

Anyone can invest in forex and become trader but only few becomes successful trader. It requires lot of hard work to understand forex properly by the help of good instructor. Good broker, perfect timing, controlled risk always leads to success.

 

[SilverOne]

Even child can be a trader - if you can click on buy or sell button you can be a trader, but as you said only few becomes successful traders!

 

[FxMaster]

Well, As per my knowledge anyone can be a Forex Broker but they need to get basic knowledge about forex first like what is forex, how to trade and how can we make good trading strategy.

 

[perryfx]

Yes anybody can be a forex trader. But no one knows weather that person win or lose.

 

[perryfx]

Even child can be a trader - if you can click on buy or sell button you can be a trader, but as you said only few becomes successful traders!

Of course