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It started with a demo account.
FX, or foreign exchange trading, is a market not many desire to charter.
3 simple reasons.
1) Extreme volatiliy in the short term.
Within seconds, minutes or hours, when FX market turns, you could lose your whole life savings, or win a lifetime freedom. The swing between the observed short timing is unforgiving simply because it reacts violently and  instantaneously due to the sentiment (supply and demand) of the majority player in the market. In the longer term - days, rather than weeks, it moves slightly slower and more in line with news that has a more longer-term impact, i.e. BOJ decided to keep their interest rates low, so it is probably safer to trade longer time. But...
2) Who has the nerve to risk it all (including your life)?
The FX market isn't for the faint-hearted. Trading it longer term - in days - is unnerving enough, especially for early traders. Once you enter a position, you could probably not eat and sleep for days comfortably for fear of an extreme market upturn or downturn - depending on your positions (buy/sell). This situation is generally exacerbated by the fact that early traders have the tendency to keep checking their positions and hence, worry themselves incessantly.
Successful trading is supposed to be patient, mindful, and non-emotional with a long period of inaction.
3) No matter how experienced you are in this, there is no way you could've predicted only through the fundamental analysis (not reading the charts).
Spikes of activities happen when the market first opens, records high are held on Mondays, as well as nearing the weekend, when U.S. market finally opens. News must be folowed, but insofar technical analysis is still the best. Being able to read the charts is essential, but this doesn't guarantee correct direction reading. That's pretty much the knowledge you could at least rely on.
So after saying all of that, I should have already chartered the unfamiliar seas, right?
Ah, no, it is still a demo account. I have yet to complete a timeline I set to myself to constantly profit through more winning the trades rather than losing. Six months. So far, records have been good. But experience doesn't teach me to predict the market, it only shows KFC (knowing where I am, finding where to go, and change the focus when required). Knowing this differentiates trading with gambling.


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