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With trading the odds are not fixed like they are in a casino, however each time you place a trade you are paying either a spread of commission to the broker which puts the odds against you. Trading can be addictive and consume all of your time and much of your money. The majority of traders who end up losing would save a lot of time if they just blew their money at a casino. The vast majority will lose their money and give up within 3 years. Industry analysts estimate that less then 5% of people who apply themselves to learning Forex trading will ever become consistently profitable. The fact is that over 95% of new traders will never achieve a consistent edge. They have the edge and know that it is not possible (except in rare cases like card counting blackjack) for someone to come in and win consistently. Most people really don’t know what they are getting into.
Many people wouldn’t go to the casino and blow all their money but end up doing this trading forex. The benefits of trading for a living is that you don’t need any: employees, products, commercial office, transportation costs, etc. A new trader can “open up shop” in their living room with just a laptop which makes it a very attractive proposition. Is Becoming A Forex Trader Right For You? So is becoming a Forex trader right for you? Thousands of people each month are becoming interested in trading the Forex (Foreign Exchange) markets also known as Currency Trading. If you have a family to support, trading can be very dangerous. Most of the few people that go on to be successful at trading have had some huge ups and downs, like losing their life-savings account or house in the process. If you have a family to support, it is in your best interests to keep your dayjob and trade with small amounts of money until you have been consistently successful for 6 months or more.
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