Forex Trading isn’t Easy Money

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Using Sortfix, I found that forex is associated with easy money. Anyone in the field knows that it isn’t easy. Too many sites promising easy or automatic money probably caused this situation. 

Sortfix is a tool that helps find the right stuff on the web. It uses a few search engines for searching (Google, Yahoo, etc.) and then offers “power words” to refine the search. These power words are other keywords or phrases that it finds related to the original phrase.

sortfix forex easy money

While the other keywords are very related: trading, currency, foreign exchange, etc., the phrase “easy money” captured my eye. This isn’t accidental: Using Sortfix for quite some time, I’ve learned to trust it.

The phrase “easy money” is related to forex since there are lots of websites that claim that forex trading is easy money. Such sites claim that they know how to beat the market, and that money virtually falls from the sky in forex. 

Companies that claim that forex is easy money offer automatic robots that supposedly create and endless cash stream. I find these forex autopilots very problematic. If it would be that easy, wouldn’t everybody be making money? If everybody would be making money, who would lose it?

I don’t have recent figures, but as far I know, the majority of forex traders lose money. Making money with forex sure is possible, but it isn’t easy. No easy money in forex. Sorry.

In order to separate forex autopilots from their bad image, I prefer open source forex software. With open source, the methods that are used to automate forex trading are visible to everyone – they can be examined, questioned and modified. Open source forex software is much more reliable than a shiny sites offering easy money.

Sortfix is an excellent tool for fine tuning searches and understanding trends. I also found interesting things about another one of my favorite issues: forex demo account.

I’ll write about in the near future…

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About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

12 Comments

  1. lamont adair on

    Well, auto trading or EA's as they call them, are designed for the newbie trader, who's to lazy to learn about the markets. The fact is trading in general is easy, once you learn to understand the psychology and how to control your own emotions. Learning to spot breakout trends in a market isn't hard also. Their are numerous tools that traders can use today to profit in the forex market. Information is passed abundantly amongst small time traders and larger firms alike. It's learning how to decipher that information and using it to your benefit.

  2. lamont, thanks for your comment. I agree that breakouts are not so hard to see. But controlling your emotions isn't trivial for everybody…

  3. There you have it. The monastic self discipline required to make a living from trading forex. This is what is mainly lacking and leads to losses.

    There are many K.I.S.S. systems which could be traded, but the self discipline is lacking.

    Either a lack of patience, impetuouness , lack of preparation , and also always searching for a better system , never getting to know one simple system.

  4. Bob, thanks for your comment. Discipline, also during training is necessary. That's why I "preach" for taking the time with a demo account…

  5. Sure, demo account to start with, just to get to know how the system works………..but, no amount of demo trades can equate real money trades when the cash is on the line……..sooner rather than later the new trader needs to get into the world of real money trading and then learn how the SELF reacts , therein lies the realily of the forex trading learning process.

  6. Bob, I think that demo trading is great for learning how to analyze and how to manage money.

    Regarding in-trade psychology, I guess there's nothing like a real live trade…

  7. The challenges facing currency trading are being answered by only one software in this planet. The Ivy-Bot. The Ivy-Bot trading Robot is built to make money no matter whatever way the market turns. While many of the other systems were blowing out accounts, the Ivy-Bot team was actively adjusting the system to the most current market conditions. IvyBot is not just the only robot that gives you unlimited updates and a separate robot for each currency pair, IvyBot is hands down the most profitable Forex trading robot ever created! IvyBot has been back tested, optimized, and forward tested to do one thing, MAKE MONEY!

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