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is it possible to become a sucessful forex trade just by reading books and demo trading practice?

is it possible to become a sucessful forex trade just by reading books and demo trading practice? if not, why not?

Public Response to is it possible to become a sucessful forex trade just by reading books and demo trading practice?

  1. Do you feel LUCKY? FOREX = GAMBLING! simple as that, GOOD LUCK U gonna need it
  2. No
  3. Yes.... I worked for a FX company for a very short time. I qualified the people to see if they were deal worthy. if it is your own money then it is a gamble of course. We were using other peoples money customers clients so the risks are less personal effectively it is just moving money at the right time. If you have the right software packages that update in real time and you have at least 3 screens and understand when the markets open and close you should be okay. NO book can tell you what will affect the markets that week. In all honesty companies keep a very close eye on it but we dont really know ourselves..... Its a gamble thats all Good luck
  4. Yes it is...as long as you read the right books and use your brain and follow what you learn.
  5. Please read if you are serious about Forex, otherwise never mind: The statistics alone should clearly tell you why so many show up on these boards -posing as qualified- with what sound to me like nothing but bitter, resentful, sometimes even sarcastic sounding answers about a subject they clearly know nothing about. I'll tell you why.... Simply stated, anybody who really understands and has REALLY traded the Forex Market knows that statements such as : "It's a gamble" can only come from unqualified sources. The truth is that they are most likely in the 95% of those who tried demo trading for a few days to two weeks (sometimes months or years as I've heard from very qualified professionals) and failed. I really don't care to convince anybody, it really does not make much of a difference to me. My only motivation is that if you are really serious about the Forex Market (as I was) I hope you reflect on what I'm saying instead of getting discouraged by those who are just parroting rumors they've heard, or by those who gave it a half a s s or a "get rich quick" approach and -OF COURSE- didn't succeed at it. And lastly as a direct answer to your question: : Yes it is possible. It is possible like everything if and when you REALLY devote yourself to do ALL it takes to succeed at it. Have you done that....? Really? Do you really want it or is it just a wish...? You probably know the answer to that better than me... (No... "just by reading a few books" is not a serious commitment to success. Doing EVERYTHING you can to be a profitable Forex Trader is....)
  6. Yes it's definitely possible to become a successful trader by reading & learning. There are lots of good strategies and forex educational material out there, the problem is most are not disciplined enough to follow them and practice really hard & give them a chance. You have to put in your homework. Is it possible to become successful demo trading? NO!!. Use a demo long enough to learn the platform & to practice your strategies until you know them like the back of your hand. You will only progress to the next level with a REAL account. But you have to start off small or the financial losses will stick in your head & cause you to make foolish mistakes. Using real money gives you the confidence needed to be successful!
  7. You need to be taught by professionals how to trade the Forex. There is a reason why they do it so well and that's due to commitment and appropriate learning that teach profitable trading strategies. People who say it is gambling are people who are not good at it or have not been taught properly. If you are serious about it then check out London Stone Trading FX Success which is a course designed for beginners like you. If you are not serious about it then you need to think of a new career. Hope this helps
  8. Reading and Learning plays a vary vital and basis part but not all you need to become successful trader. There is always a lot of difference in reading and practicing. In Trading you have to deal with actual market and you can lose a lot by doing a simple mistake. Even on demo account, you donot have that pressure what you feel while your money is at risk.