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Why you shouldn't trade forex?
#1
Counter-party Risks
Forex market is an international market. Therefore, regulation of the Forex market is a difficult issue because it pertains to the sovereignty of the currencies of many countries. This creates a scenario wherein the Forex market is largely unregulated. Therefore, there is no centralised exchange which guarantees the risk free execution of trades. Therefore, when investors or traders enter into trades, they also have to be cognisant of the default risk that they are facing i.e. the risk that the counter-party may not have the intention or the ability to honour the contracts. Forex trading therefore involves careful assessment of counter-party risks as well as creation of plans to mitigate them.

Leverage Risks
Forex markets provide the maximum leverage. The word leverage automatically implies risk and a gearing ratio of 20 to 30 times implies a lot of risk! Given the fact that there are no limits to the amount of movement that could happen in the Forex market in a given day, it is possible that a person may lose all of their investment in a matter of minutes if they placed highly leveraged bets. Novice investors are more prone to making such mistakes because they do not understand the amount of risk that leverage brings along!

Operational Risks
Forex trading operations are difficult to manage operationally. This is because the Forex market works all the time whereas humans do not! Therefore, traders have to resort to algorithms to protect the value of their investments when they are away. Alternatively, multinational firms have trading desks spread all across the world. However, that can only be done if trading is conducted on a very large scale.

Therefore, if a person does not have the capital or the know how to manage their positions when they are away, Forex markets could cause a significant loss of value in the nights or on weekends.
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#2
Why must you be so extreme? Just because you are allergic to nuts doesn't means everyone who eat nuts will die.
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#3
The only time I shouldn't trade forex is when the market is completely halted, like Saturday afternoon to late evening on Sunday.
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