How to Get Rich with Forex? | Forex Factory

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How to Get Rich with Forex?

  • #1
  • First Post: Jun 28, 2017 12:51am Jun 28, 2017 12:51am
How can we get rich with Forex? This field needs a lot of experience in order to succeed. What is the best way in order to be a wealthy merchant?
What method or strategies most suitable to become a professional trader? Thank you for your ideas..
Sweet Princess, ForexMart
  • #2
  • Jun 28, 2017 2:48am Jun 28, 2017 2:48am
Do you win a commission, for each thread created?
Or you just belong to FF staff?
The funniest, is that nobody takes me seriously.
  • #3
  • Jun 28, 2017 3:26am Jun 28, 2017 3:26am
Sell mentorship/ training program, become a broker or agent of a broker, sell trading software/EA/indicator, provide coding service.
  • #4
  • Jun 28, 2017 4:03am Jun 28, 2017 4:03am
Quoting pooh123
Sell mentorship/ training program, become a broker or agent of a broker, sell trading software/EA/indicator, provide coding service.
Everything he mentioned except actual trading.
'For the market to work, it needs people who think that they can beat it.'
  • #5
  • Edited 6:01am Jun 28, 2017 4:24am | Edited 6:01am
Quoting AlastorFate
{quote} Everything he mentioned except actual trading.
Agree

Now if it is possible to make money through trading, you need first to learn the basics of forex. have a good discipline, be patient enough to wait for the strong/high probability signals and avoid any other signal. Including having a simple strategy that works and that you have mastered. As you make profits, you can reinvest a part of your profits (meaning increase the lot size). All this will take time (years). But it also depends on how much money you invest from the beginning. Dont forget risk and money management. one more thing, you need a reliable broker that doesnt cheat you.

So what kind of strategy? a simple one. Price action, breakout strategy, moving averages strategy, fibonacci. Maybe even elliot waves. it's better to pick ONE simple strategy that you are comfortable with than mixing too many, else it can make you greedy and greed leads to loss.
  • #6
  • Jun 28, 2017 4:38am Jun 28, 2017 4:38am
first off one needs at least a million, a good understanding of markets & market makers, sound mind and temperament. winning will just happen and money will flow
  • #7
  • Jun 28, 2017 5:39am Jun 28, 2017 5:39am
Quoting tradeur
first off one needs at least a million, a good understanding of markets & market makers, sound mind and temperament. winning will just happen and money will flow
the million is not neccessary, why you need this? because when you lose 50 % you will still have enough??

if you wins from small amount and grow you learn more and get more stable then by starting with high value.
  • #8
  • Jun 28, 2017 3:05pm Jun 28, 2017 3:05pm
you will not get rich by selling courses or systems, delusional.
you need a lot of money to promote yourself at first and it's not guaranteed that you will succeed.

one way could be

- an untarnished long term trackrecord.
- Percent allocation money management. I know people who really made the millions that way.. by starting with a veery small budget.
  • #9
  • Jun 28, 2017 4:27pm Jun 28, 2017 4:27pm
Quoting dukas_trader
{quote} the million is not neccessary, why you need this? because when you lose 50 % you will still have enough?? if you wins from small amount and grow you learn more and get more stable then by starting with high value.
Agree with first sentence, fully.
One most definitely doesn't need to have a million dollar account to make good money from trading.
And disagree with second statement partly, as on the other hand I believe that lots of new traders fail for being largely undercapitalized.
Suspect that is also the brokers point often, letting one to open 25$ account with min. 10 cents per pip values, is calling for an account to be blown.
there is always, always another trade!!
  • #10
  • Jun 28, 2017 4:47pm Jun 28, 2017 4:47pm
Quoting profitfarmer
{quote} Agree with first sentence, fully. One most definitely doesn't need to have a million dollar account to make good money from trading. And disagree with second statement partly, as on the other hand I believe that lots of new traders fail for being largely undercapitalized. Suspect that is also the brokers point often, letting one to open 25$ account with min. 10 cents per pip values, is calling for an account to be blown.
ok , i dont speak about train accounts.
if you want doing as a trader, you can start with about 10000 and have as goal to get to 1 million in about 10 years. this would be a fair time. ofcourse its much easier to start with 5 mio and have after 2years 1 mill

best start is of course when you have a job you can do from home same time, like programmer, webdesigner,... then you earn your fix income while you learn (and dont need to live from trading by starting) and learn how to do both same time, you have much time when you trade, so its easy possible.
  • #11
  • Jun 28, 2017 10:34pm Jun 28, 2017 10:34pm
You get rich in forex by profiting off your trades more than you lose off your trades.
  • #12
  • Jun 29, 2017 12:54am Jun 29, 2017 12:54am
Quoting HeyYou
you will not get rich by selling courses or systems, delusional. you need a lot of money to promote yourself at first and it's not guaranteed that you will succeed. one way could be - an untarnished long term trackrecord. - Percent allocation money management. I know people who really made the millions that way.. by starting with a veery small budget.
Haha, you cannot be more worng. You don't have to spend a penny on promoting yourself. Open a tread at FF to make live calls. In the long run around half of them will turn out to be correct. For those correct calls, in follow up threads talk about how many pips you earned, blah blah... For those incorrect calls you say nothing. You can even go back to delete some posts of incorrect live calls. For a smart trader who is following your live calls diligently and verify them on charts, this won't work. But for traders who are late in finding your thread and do a lot of catch up by reading old posts in the thread, chances are, they will have the impression that your correct live calls overwhelmingly outnumbers the incorrects ones. They will consider you a trading guru. A few commercial members have been doing this and are quite successful in winning people's trust. In this business there is never a shortage of suckers who fall for the traps of con-artists.
  • #13
  • Jun 29, 2017 1:27am Jun 29, 2017 1:27am
https://www.forexfactory.com/gurangax
Ask him
  • #14
  • Jun 29, 2017 1:50am Jun 29, 2017 1:50am
Forex market is volatile, so good skilled Forex traders can understand the direction of market so keenly! In addition, end of the month they earn really massive! By the way, starting Forex trading with such a target would be costly; new traders focus on mainly learning!
  • #15
  • Jun 29, 2017 4:11am Jun 29, 2017 4:11am
To succeed as a trader, avoid impulsive trading and just jumping into a moving market. Study the market and analyse it first. Then plan your approach and act on your plan.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #16
  • Jun 29, 2017 5:43am Jun 29, 2017 5:43am
Dear sweet
I have not understand your exact message. What you want from Forex ? by getting rich or professional trader ? Because the professional trader doesn’t have a mentality to become rich very rapidly by Fx trading. They always follow some inevitable parts of trading and don’t break the rules at all. I have not seen any professional traders are willing to become rich by Fx but they are solvent really. Only newcomers always try to get rich from here without a short time . this is not a professionalism.
  • #17
  • Jun 29, 2017 7:33am Jun 29, 2017 7:33am
im ready to get more rich from forex starting now
  • #18
  • Jun 29, 2017 7:48am Jun 29, 2017 7:48am
Quoting lancar
im ready to get more rich from forex starting now
If you just starting Forex please concentrate the learning process with demo practicing , otherwise you can fall a great trouble
  • #19
  • Jun 29, 2017 7:49am Jun 29, 2017 7:49am
Quoting JamesFaulkn
{quote} If you just starting Forex please concentrate the learning process with demo practicing , otherwise you can fall a great trouble
okay sir
  • #20
  • Jun 29, 2017 8:54am Jun 29, 2017 8:54am
Quoting lancar
im ready to get more rich from forex starting now
Don’t hurry please. Success in Fx is a long time process,
so who try to get rich very quickly obviously they will be loser. No doubt about it.
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