Forex trading is not the ideal way for someone to go about trying to make money who doesn’t have years of foreign currency trading knowledge and experience

It is 10:37 AM. I have managed to do some updates on another of my websites. I have just logged into my demo account trading forex and opened a eur/usd trade. Things have been pretty crazy in the forex market this morning. I’m glad I don’t have enough money in my real account to risk on a trade. I would probably have lost it all. I’m losing on the trade I’ve just opened but I’ll leave it opened a while longer. It’s just play money after all. I’ll take the loss at $50.

To be quite honest I don’t totally miss trading forex. I’m inclined to think it’s not for people with high anxiety. You can never be sure about anything in forex. There’s no mathematical formula you can use to determine which direction will be the profitable direction on a trade. It’s just not the ideal way for someone to go about trying to make money who doesn’t have years of foreign currency trading knowledge and experience.

Nevertheless I will continue to trade in demo and give real trading a last shot at some point when I feel ready to try it again and have some funds to deposit. I guess I have a problem with quitting even while faced with evidence that I can’t possibly succeed.

Image: The War of Wealth by C.T. Dazey, Broadway poster, 1895 by trialanderrors via Flickr