No, Forex trading is not risky unless you are doing it in a reckless way. It's not risky also trading is not a gambling. But people don't understand the main factors. So they end up with loosing all of their money. if you do it in right way, you can earn more than your living cost from Forex trading.
Now, I will explain in short the process of making profit. Many people use some software to guess the market behavior, but this is more than that. You need to know the current news of world economy, the major factors that are happening around the world which can affect trading. Any world event that can affect currency rate. In every time you need to be prepared. If you are willing to use some software, then buy some paid software that always updates economical news. My suggestion will be create a free account in a website and practice with demo account until you figured the profit making strategy. You can not make profit without any prior knowledge about forex trading. So learn before start your business.
Forex trading can be a great source of income for you. Because this market is open 5 days in week and 24 hours a day. You can invest any time and also you can withdraw your money in just a moment. Good bye today.