This is an article about the realities of forex trading, so let’s cut to the chase: you can lose money trading forex; sometimes more than you have in your trading account!
I won’t enumerate the many many ways it can go wrong (in this document, I mean, since I want to focus on solutions), but suffice it to say that forex trading affords little margin for error. Indeed, forex trading is one of those fields where you not only have to get all of your up-front decisions right (broker, platform, bot-vendor, hosting, funding, etc.) but you also have to stay on top of the day-to-day mechanics. Robots need to be tuned, updates need to be installed, security patches need to be applied, portfolios need to be rebalanced, taxes need to be paid, outages and whoopsies and plain ‘ole misunderstandings need to be dealt with, market-changes need to be detected and then adjustments need to be made. For that matter, the occasional shekel needs to be withdrawn. What’s worse, simply looking at the numbers to verify that your bots are trading on target can be a surprisingly daunting task. And that’s not the whole of it!
Which begs the simple question: “Why bother?”
There’s no one answer, of course, but at the risk of putting a personal spin on things, “I believe it’s possible to make (lots of!) money trading forex;” pure and simple. Not lots and lots and lots—not bajillions; probably not even millions—but more than the S&P, more than flipping an ugly house, more than going the conventional investment route; enough, in fact, to make the whole bloody mess worthwhile. That’s what I (SquidEyes CTO Louis Berman) believe, at least, but I’d be remiss if I didn’t invoke Upton Sinclair in the same breath. “It is difficult to get a man to understand something, when his salary depends on his not understanding it.”
Needless to say, my salary does indeed rely upon customer like you, so it’d be best to take whatever I say with a grain of salt; better yet, the entire shaker! Moreover, you should always have the following in mind when reflecting on the validity and usefulness of anything we say:
SquidEyes is not an investment advisor, and the four the SquidEyes founders are not licensed by FINRA or any other authority!
At our core, SquidEyes exists to provide educational resources and insights to help individuals navigate the world of trading and finance. Our goal is to equip you with knowledge and tools to make informed decisions in your trading journey, but we do not offer personalized financial advice. Instead, we encourage you to use the information we provide as a valuable resource to enhance your financial literacy and empower your trading decisions.