Forex trading is difficult because it takes time, experience and patience to build the skills necessary to succeed. It takes an understanding of fundamental analysis—which in Forex can be hard to grasp for someone with a Ph.D. in Economics, much less for someone without it. There is technical analysis, which can be mastered with effort, but is part art and part science and not something everyone can readily understand. For those who don’t know better, they can easily dismiss it as some kind of witchcraft. Unlike stocks, which generally appreciate in value over time if you wait long enough, Forex pairs generally range over their lifetime.