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Has anyone successfully used automated software in conjunction with Forex trading?

Has anyone ever made money trading forex?

  • I have myself lost around $8000 in Forex Trading till date so I was wondering has anyone ever made money trading forex?

  • Answer:

    Hi, I am sorry to hear about your loss. If you are still willing to trade, I would suggest you take a look at all your trading account history see where the trading strategy you were using was faulty and learn from your mistakes. No one gets born an expert, but to become one, you will need to learn even from your mistakes. There is a high probability of making forex a constant income source, if you create and improve a money management and trading platform, if you learn about forex, about the trading platform(s) you will be using and if you become familiar with the trading conditions of your broker. Most of the people that do not stick to their trading plan and become emotional and impulsive have high chances of losing their investment. The market never forgives, so the moment you have learned and tested your trading strategy on a demo account and it has proven to be efficient and profitable, then you can 'confront' the market. All the professional traders I dealt with, people that made a living out of trading, have taken the long road to knowledge, stuck to their trading plan and to the risk management system they had in place, to become what they are now. Learning how to be profitable in Forex is a challenge. Good luck with your future trades! Best Regards, FXCC Representative

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The majority of beginners and amateurs lose money. Why? Imagine yourself in a boxing match, pitted against someone like Manny Pacquiao . You have done only a couple weeks of training at your home, mostly from reading books on boxing techniques. What is the chance you will win the match? In the Forex arena, you are pitching your limited knowledge against seasoned professionals with advanced mathematics and risk analysis degrees, who are supported by super high speed computers, near instantaneous information from around the world, and proximity to the trading centers and traders to handle their preferential business. You really think you have a chance of beating them at their game on a regular basis? Close to 95-98% of all Forex beginners drop out within a year, having lost all of their investment money. Some end up owing money for a long time afterwards.

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