Contrary to what a forex expert would want you to believe, making money in forex as a beginner is not at all easy. Forex trading is one of the most difficult skills you can learn. This is especially disheartening if you are just starting to learn currency trading as a beginner.
If you are currently struggling to learn how to trade Forex successfully, you are probably wondering; Can a Newbie Make Money Trading Forex? By the end of this article, you will know what you can do to start making money right away with forex trading.
Can a Beginner Make Money in Forex?
When you research on many forex websites, seminars, forums, and magazines, it seems like everyone is cashing millions of dollars in forex daily! The point is, forex traders love to talk about their winning trades and express themselves as extremely profitable traders, but the reality is that only 5% of forex traders consistently make money.
Yes, even a novice can make money in forex trading, but there is a huge difference between making money in the forex market and earning full time income, gaining financial freedom and generating wealth through forex. It prevents beginners from earning income.
What Stops Newbies From Getting Long Term Stable Income From Forex Trading?
Unlike professional forex traders who work for big banks and hedge funds, most newbie who learn to trade in forex do not receive a full-time salary for immersing themselves in the markets. If you are new to Forex, you probably have a full time job where you work at least 8 hours a day and have a family and social life on top of that.
This means that there is a real lack of time to reach that level where you can perform like a pro and believe me it takes a lot of time and constant effort.
It takes years of learning, practice and actual experience in the markets to learn how to trade Forex successfully and consistently make money from Forex trading. Not to mention taking an unpaid part-time job that chained you to your computer while trading. It is something that takes you away from your social circle and also puts a lot of strain on your family relationships. It is no wonder that most traders who want to learn how to trade forex will give up within 3 months and never make any money from forex trading.
What You Can Do Now To Make Money In Forex
Best shortcut key I know of is to buy a proven forex trading system to trade for you. I’m not going to look you in the eye and tell you that you can go out there and pick a system and make millions because it’s not true. Profitable trading systems are rare and you should choose them very carefully.
However, when you can find a functioning trading system, you can overcome a trader’s greatest challenges while learning to trade forex. You can gain valuable experience in the forex market, cultivate your personal relationships, and most importantly, make money trading forex by learning to trade forex.
When you have accumulated the capital and income from running your Forex system and gained valuable trading experience, you can decide to try Forex for yourself. Whether you are trading with an automated forex system for the short, medium or long term, this is a powerful solution that will allow you to make money in forex trading even if you are a beginner.