Why trade Forex?

Why trade Forex? With this week's trading tip, I want to illustrate one of the differences between a professional trader and a weekend warrior.

Are you trading for fun or profit?

That is the question you are going to have to answer at some point with respect to your trading.

Many people play golf for fun. They invest large sums of money into equipment and lessons, spend hours at the driving range, read all the latest publications and dream about golfing.

Do they expect to beat Tiger Woods someday? Do they think they can make a living at it? No, most just golf for the fun of it.

Imagine you are planning a visit to a casino. Would you expect to spend a couple of hours watching "How to win at Blackjack" videos and be able to walk away with the casino's profits? Not likely.

For some reason, many new traders expect to be able to spend a weekend reading an e-book or two and watching a trading video and then magically pull huge amounts of cash from the market on Monday morning.

Sorry, it's not that easy.

Like chess, where you can learn the basics in a few hours, but learning the subtle moves that the pros use can take a lifetime, profitable trading is going to take a commitment. I know, nobody wants to hear that.

Would you expect to become a lawyer with only a weekend at law school, or a doctor with only having read the e-book "Medicine Made Easy"?

You are going to have to invest in yourself if you want to play this game for a living. Don't believe the claims of snake oil salesmen that you can buy success for $47. You will be forever chasing the holy grail, which sadly does not exist.

Research, learn and practice. Those are the keys to your success. It can be done. It will be worth the effort!

Wishing you trading success,
David Stevenson.