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www.forextradingseminar.com/blog/ – Ever wonder what is really possible to achieve in Forex trading without any ridiculous hype? The best way to find out is by consulting a Forex Trading Income Calculator.
Throughout my career as a trader, instructor, coach, and analyst, I’ve been asked thousands of times by individual forex traders about the potential for profit in the forex market. With this article, I want to dispel some of the myths, give you some context, and shed some light on the realities of the forex market.
Many marketers and even the bucket shop forex dealers seem to think that pulling money out of the forex market is just as easy as withdrawing money from an ATM. It’s not. The forex market is not an ATM machine, just sitting there waiting for you to walk up and take out money.
Think about this: There are millions of forex traders around the world. Millions! More and more are coming to the forex market every day. We are all competing against one another. Put another way, the forex market is a zero sum game. This means that in order for you to profit someone else has to lose. Everyone can’t win.
With millions of traders competing against one another, and with billions of dollars in profit at stake, you can bet that you will face some stiff competition. In other words, you’re not going to walk into the forex market and start taking money from other traders without a fight.
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The same marketing messages and mistruths that suggest it’s easy to profit in the forex are also the sources of overly optimistic expectations. Many unsuspecting beginners in the forex market are lead to believing that returns of 500 or even 1,000 percent are possible. Let me tell you something: Such returns are not consistently possible. Anyone flashing a forex broker statement suggesting otherwise is lying or got extremely lucky.
In order to achieve such lofty returns, a trader would have to take full advantage of the leverage available in the forex market and then get extremely lucky. Eventually luck will run out and the excessive risk taking, which is necessary to generate such returns, will catch up with the trader. The trader will then blow up his account. I’ve seen it happen time and time again.
For all the misleading marketing about the forex market, it truly is one of the best ways for individuals to earn some extra income, build long-term wealth, and diversify risk away from traditional asset classes such as real estate, stocks, and bonds. Great returns are consistently possible, but you can only achieve these returns by learning how the forex market works, committing to a sound trading system, and by respecting the risks that come with leverage.
Traders all around the world are learning how to make money in the forex market and are discovering the unique benefits that the market has to offer. These benefits include the leverage that I’ve been writing about, but also the true 24 hour trading, long-lasting trends in currency pairs, and unique strategies such as the carry trade.
You can learn how to take advantage of these benefits by first entering the forex market with realistic expectations and by committing to learning how the market works. After that, you need to find a system built on sound principles that employs risk management. Do that, and you’ll be on your way to making money in the forex market.
Visit http://www.fxpnf.com to see an example of forex trading system built on sound principles.
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