What is the most challenging in Forex?

[LeoFx]

Capital building seems to be the most challenging to a trader especially for those who are not financially solvent. But forex is such a profession that can be started with a minimum capital.

 

[PhoenixJ]

I think controlling your emotions is the toughest part. Handling a loss is not easy for everyone and might turn people into revenge traders and make you lose even more.

 

[Lazarsblck]

Finding a trusted broker is challenging af
Then after that, you need to find a trading strategy that complies with that broker's rules.. pfff

 

[Fin_Trader]

The most difficult thing is to learn to analyze the market in order to be able to enter the market correctly and exit it on time. To do this, you need to create your own trading strategy and trade only according to its rules and conditions.

 

[Lee.me]

Learning the technical aspects of the job is one thing, controlling the mental aspect is another thing altogether. They compliment each other, but I found mental fortitude to be the most important of them all.

 

[Fin_Trader]

Learning the technical aspects of the job is one thing, controlling the mental aspect is another thing altogether. They compliment each other, but I found mental fortitude to be the most important of them all.

I completely agree with you. Trading results are also greatly influenced by the psychological component, which can interfere with making the right decisions due to haste and greed. Only self-control in your actions and discipline will help you avoid this negative factor in trading.

 

[Lee.me]

I completely agree with you. Trading results are also greatly influenced by the psychological component, which can interfere with making the right decisions due to haste and greed. Only self-control in your actions and discipline will help you avoid this negative factor in trading.

Exactly, easier said than done though, as we all know.

 

[Polakandil]

The biggest challenges in forex trading can be divided into two factors, internal and external. The hardest internal factor is controlling emotions, whether greed, overconfidence, fear, anxiety, and so on. External factors such as dynamic market volatility, are sometimes unpredictable.

 

[Fin_Trader]

For profitable trading, it is also important to be able and willing to learn from your mistakes. They show us where and why we had unsuccessful trades, what led to this (bad trading strategy or our emotions and undisciplined actions). This is the only way to gradually improve your skills and experience, gradually turning your trading strategy into a more profitable one. Also, an unsuccessful choice of a broker can worsen trading, when such a broker has poor execution, the terminal is unstable and wide spreads - in this case it will also be very difficult to trade profitably. Therefore, I think that at one time I made the right choice by choosing fxopen to trade.

 

[VasilTodorov]

Get hold of your emotion and not enter with lot size more than your balance can support, especially after you win a lot after one another is very hard!

 

[PhoenixJ]

Get hold of your emotion and not enter with lot size more than your balance can support, especially after you win a lot after one another is very hard!

Well said! Although confidence is needed, but sometimes having too much confidence can be harmful!

 

[Fin_Trader]

Well said! Although confidence is needed, but sometimes having too much confidence can be harmful!

Yes, confidence often develops into self-confidence. And even when you still manage to trade profitably, you should not forget about risk control, endurance and discipline. Otherwise, due to the appearance of euphoria from successful transactions, a trader can relax and make mistakes, believing in his impunity and success. And this often leads to losses.

 

[PhoenixJ]

Yes, confidence often develops into self-confidence. And even when you still manage to trade profitably, you should not forget about risk control, endurance and discipline. Otherwise, due to the appearance of euphoria from successful transactions, a trader can relax and make mistakes, believing in his impunity and success. And this often leads to losses.

Precisely!! Believe in yourself but don't be greedy.

 

[Fin_Trader]

Many people find it difficult to learn. After all, for many, this is a completely new field of activity that needs to be studied from scratch, devoting a lot of time, effort and patience to this. But this stage is often skipped because you want to start earning money faster. As a result, trading is unprofitable.

 

[PhoenixJ]

And that is why 90% of Forex traders lose their capital.