Apiary Fund Blog

Is Currency Trading Worth It?

[fa icon="calendar"] May 18, 2019 6:00:00 AM / by Lukas MacMacKen

A very popular question is, “Is trading FOREX really worth it?" or “Can FOREX actually be profitable?” These two questions go hand in hand. If FOREX is going to result in a negative every time you close a trade or close out a month, it’s not worth it. If currency trading is only going to make a dollar or two a month, yes, that's profit, but is it really considered profitable to you? And is that profit worth the hours of trading you put into the market? The individuals who make others believe that FOREX trading isn’t worth it are typically those who started out, lost a bit, and quit. Companies like Trader on the Street aim to show those interested in trading that it can be worth it if you persevere.

Everyone loses in trading. It’s the nature of the beast. But FOREX isn’t a casino and the house doesn’t always win. While it's easier most of the time to lose than to win, the effort makes the journey worthwhile. Creating and developing a strategy is the key feature for having a successful trading strategy. Personally, I use a CCI strategy that incorporates the HMA and RSI. While I don’t use all three in conjunction all the time, they're great confirmations when I need them. This also isn’t a strategy I developed overnight. A lot of trial and error went into selecting the best periods and triggers in what order for me to enter the trade. Developing this strategy resulted in more losses than wins in the beginning, but is now resulting in a great equity curve for me. Trader on the Street teaches Shawn Lucas’ Wobble technique; another strategy that took a lot of perseverance to come up with in its current state, but was worth it in the end.

On top of the time it takes to develop the strategy you use, trading takes time too. The benefit to trading FOREX, however, is that you can trade almost whenever, wherever, and whatever. If your main goal is to make some side income to pay your monthly car loan, then $400/month may be worth it to you. If you want to pay your mortgage, $1600/month may be worth it to you. And if you’re looking to replace your whole income, $8,000/month may be enough to be worth it to you. It’s all perspective. One thing Trader on the Street does is their live trading sessions where they attempt to make more than a day’s worth of income in an hour. If you watch those trading videos, they're a great example of how FOREX trading can be worth it in the end.

Personally, I’m not one to push people. So, I'm not here to force you to think that trading FOREX is worth it. What I do feel totally confident in saying though is that it's worth it if you want it to be. If you can dedicate the time to developing a strategy that works and makes consistent profit, you can make trading worthwhile. Now, this strategy may take you months or years to develop, which may not seem like it's worth it, but isn’t that what every university does too? It teaches you over the course of years a strategy that you want to learn. Chemists learn the strategy of molecular bonding and chemical interactions. Economists learn the strategies of supply and demand along with other financial formulas all to work in that field. To them, the higher paycheck is worth the learning. Why not the same for FOREX trading? Know what your goals are and have a realistic expectation. One or two days is not enough time to learn to replace your income. In the long run, like those who traded with Apiary Fund and who learned to trade years and years ago, if you work at trading, it will become worth it to you and your goals.

Topics: Apiary Fund, learn to trade, beginner trader, trading goals

Lukas MacMacKen

Written by Lukas MacMacKen

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