Is it easy to make money on Forex?

For many years the pattern of Forex market was developed as a source of easy and big money. In fact this situation develops rather successful and such a pattern grows with each opening of a dealing center. This situation is rather logical, as new unskilled customers “feed” with own money the directorate of a dealing center. In my opinion, such an outrage can continue endlessly.

Do not trust advertisement. Working at exchange is a rather difficult job. The reason is in extreme individualization of performed work. While in ordinary business in order of income support of a company there are employed a hundreds of workers, in Forex trading all the profits and losses depend on a single person – a trader, an administer of deposit account. If anybody in a big company makes a mistake, he will be secured by more experienced worker or administer, and such a mistake can hardly lead to a catastrophic effect. Trader, while working on Forex, is free from any authorities, but all he takes all the responsibility on his own shoulders.

In order to master any “office job”, it is required to have a specific ability to think. In case of existence of specific talents, a person can successfully advance through a job ladder. If it is talked about some handicraft, then you will have to possess specific skills of your body control (ex. your arms).

The situation on Forex is radically different. Lion’s share of self-cultivation will be directed not on the body or intellect. In order to learn to keep mental equilibrium, you will have to transform your feelings, emotions; you will have to modify some aspects of your behavior. Forming such characters as self-control, freedom from greediness, anger, avidity, despondency is a very difficult and long-dated matter, even within the limits of Forex. Eastern religions teach to start from “yourself” in solving such difficult problems. This means you should find all the causes in your own shortcomings. While in a real life it is rather difficult to notice a source of your life peripeteias, in Forex market everything is extremely obvious: if you enter position with a single desire of earning 100 points, you will rather loose them.

What is the motivation of beginning trader while opening a position? Wow! Now the market will fluctuate and it would be easy to earn much!!! Experienced traders go the other way. Of course they are not indifferent to profit, but position opening was dictated by optimal conditions solely. The volume of profit gained from specific deal interests them just a little. Experienced trader, as a thoughtful gardener, picks only ripe fruits – optimal points of opening and closure.

Thereby the main difficulty of working on Forex is that beginning traders will have to find new, hardly achievable kinds of personality in themselves. Meanwhile there are many fields of activity with a quite enough level of salary and without need of self-developing.