How hard is it to trade forex? -

Is it worth the time and effort of short trading and reading up? I am starting to read up on it, and so far it looks fun and profitable, then again i have read any of the quot;badquot; sides yer, although ive heard rumors of people loosing all their money in it, because it is a quot;double edged swordquot;. But really, what is soo hard about it? As long as you do a lot of research on it, i should be fine? I have about $4350 and i am young (16). Could it be good for long term? Well reason its so hard is because all of the market (just like any other market) is controlled by human emotion. So in other words is makes it unpredictable. What traders try to master is to figure out a strategy with the highest probability of being a success. So with just speculation to make your decisions, you are left to also really master money management. Preserving your capital is the only way to stay in the game and to be there when making money opportunities happen. One poster posted to just focus on fundamentals. One thing I have against this as a retail trader is news is typically factored into the market before we even know about it or even understand it. And since the market is controlled by human emotions, not everyone views the market in the same manner so it makes for very volatile situtaions. Then add the psychological pressure you have with investing your own money which could easily be wiped out in a short period of time, by losing in the markets or by a broker error. You ll see once your in this arena for a while. At first, yes it seems like the golden tunnel, but then you see the reality and the difficulty it holds. just like any other undertaking, it is always hard the first time you try it. this is why you need to do much understanding of the situation before you jump in. and just like any other game or investment, in forex there is no guarantee that you will always win or gain, the probability of losing is always there. the individual player s/investor s strategy is important to win or lose a game/deal. these are also true to forex. especially if you are new, the tendency is for you to lose your initial transactions, however, as you go learning the trade eventually you will wear off the losing streak and start winning. i would recommend, should you wish to start trading, you try out this site. one unique feature of this site is they provide a personal Account Service Manager (ASM) to their new traders, newbie or experienced. your ASM would be available to answer whatever technical questions you may have and will coordinate with you on your trading activities to make sure you will become familiar with the system. Register for a start and download a Free Ebook to further your readings. Yes, it s hard to trade. Manage your risk at all times. It s your money. Once gone won t come back. Having said that I do make a good income from forex trading. Treat it like other businesses. Learn as much as you can. Master it. The old way is more dfficult. Nowdays, there are many new software which can help you like Forex Killer, etc.... But remember that these are aids that can help you. They are not the magical formula. But if you try it out over time, you will learn how best to use these aids. Many lost using them as they just jumped in and trade without playing around with paper trades or small trades. Forex trading is very difficult. It takes months to learn and even then it is not certain that you will earn money, in fact it is more probably that you will lose money. Read the article below. Focus more on fundamentals than technical analysis. Economic news analysis is what moves the markets. Here is a free site that shows what has happened after economic news releases: http://www.forexnewspatterns.com