If you have ever invested in the Forex Market, you know that it can be a very expensive proposition. I know, because I've been there. You can easily lose hundreds, if not thousands of dollars.
If you are thinking about starting a business as an investor in the Forex Market, know this. To have any chance of success at all, you will need to begin with a sizable amount of money. You'll also need to learn a lot of technical things, such as; reading charts and understanding different formats that develop in those charts. You'll need to learn how to place orders, when to place those orders and when to close them out.
Then there's the tools available to an investor:
– Stochastic Oscillator
– Moving Average Crossovers
– Bollinger Bands
– Relative Strength Index
– Moving Averages
Just learning what these tools do and how to use them can be a very time consuming ordeal. Use them the wrong way and you can watch your money go right down the drain.
Believe me, to become established in this business can take a long time, and as I said before, it can also be very expensive.
So, if you are not the type of person that can handle pressure, then you really do not want to get involved with investing in the Forex Market.
Finally, I saw some statistics on a website the other day. As I show them to you, you can see how difficult it is to be successful in the FX Market:
– 1% of Forex Traders become millionaire.
– 4% make a good living trading.
– 5% are breaking even month after month.
– 36% quit the FX Market never to return.
– 54% are consistently losing money and emptying their accounts.
Obviously, the odds are not in your favor. So, that being the case, it might be to your advantage to look at a business that is not so stacked against you.
Source by Mark Norgrove