Can you get rich quickly from forex trading? | Page 17 | Forex Factory

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Can you get rich quickly from forex trading?

  • #321
  • Apr 2, 2018 9:05am Apr 2, 2018 9:05am
Quoting Majeeda
{quote} You are absolutely right; success is a long time process; I know a trader how has almost 4 years trading experience but till now he is struggling; it’s not easy to be a consistent performer.
Sometimes it takes a decade to learn to trade well. I wish I was exaggerating but I am not. The thing is to keep learning and not to give up.
  • #322
  • Apr 2, 2018 11:01am Apr 2, 2018 11:01am
Quoting mlawson71
{quote} not to give up.
That’s the point! Trading is very much challenging, so we traders need to have a determined mind, initially so many ups & downs are very common.
  • #323
  • Apr 19, 2018 12:54am Apr 19, 2018 12:54am
Quoting sandycarrot
Can you get rich quickly from forex trading ? if not ? why not just do the job in general or if there is capital ,why not invest your capital in mutual funds, or leave it to fund managers or something like that , or on the other side if you earn 10% profit in a year in trading do not bother trading alone / does not need to work hard alone leave it to fund managers or mutual funds you will get over it with a smaller risk than the handle itself THX for your comments / participation / input , S.C.
Not many people are like you Mr/Ms Carrot. We all are different, holding different plan, views and goals.
Trading is never easy and have lot of risk, I agree. But like universal concept "Higher the risk, higher the profit".

If you're not interested to trade because of some valid reason like "I don't want to become rich", "Higher priorities belong to my family", "I have sufficient money in my pocket and I don't want to lose", etc. Then you're not supposed to trade, nobody is forcing you to do that. Take good care of your thoughts over money.

Trading can get rich either quickly or lately. You can only trade if you're interested and willing to lose, indeed it's very challenging, long education, process, focus and most of all, your time.
  • #324
  • Apr 19, 2018 5:27am Apr 19, 2018 5:27am
Quoting MatthewRoy
"Higher the risk, higher the profit".
I see, most of the pro traders are not using high risk reward ratio, since they follow proper money management policies here; I am also follow the same way. I focus on consistency rather than any huge amount.
  • #325
  • Apr 20, 2018 9:09am Apr 20, 2018 9:09am
Quoting DarrenLehma
{quote} I see, most of the pro traders are not using high risk reward ratio, since they follow proper money management policies here; I am also follow the same way. I focus on consistency rather than any huge amount.
That's very good way sir, thank you for sharing your view.
  • #326
  • Apr 21, 2018 8:52am Apr 21, 2018 8:52am
Quoting DarrenLehma
{quote} I see, most of the pro traders are not using high risk reward ratio, since they follow proper money management policies here; I am also follow the same way. I focus on consistency rather than any huge amount.
Do you know many professional traders? I am asking because I know personally only a few.
  • #327
  • Apr 22, 2018 10:00am Apr 22, 2018 10:00am
Yes you can get rich quickly but not just by deposit money into a broker and by doing random trading. You have to be skilled enough to be able to do so. Like just by only passing MBBS, one can not be a good doctor. He has to do lot more things to be a good doctor. If you can make yourself enough skilled, you can make money quickly.
  • #328
  • Apr 23, 2018 9:11am Apr 23, 2018 9:11am
Quoting JonathanHob
Yes you can get rich quickly but not just by deposit money into a broker and by doing random trading. You have to be skilled enough to be able to do so. Like just by only passing MBBS, one can not be a good doctor. He has to do lot more things to be a good doctor. If you can make yourself enough skilled, you can make money quickly.
Acquiring those skills takes time though, and I think it is a good idea to always count that time to the overall period it takes to begin profiting.
  • #329
  • Apr 26, 2018 10:00am Apr 26, 2018 10:00am
It is possible, but you have to predict some really important new. Actually I did it few times, just my following the news. You just have to follow the news and analyze what could be the future results and where can go the currency price of the concerned country...
  • #330
  • Apr 26, 2018 10:05am Apr 26, 2018 10:05am
Quoting DwainUK
It is possible, but you have to predict some really important new. Actually I did it few times, just my following the news. You just have to follow the news and analyze what could be the future results and where can go the currency price of the concerned country...
Doesn't learning how to analyzie news also take a long time though?
  • #331
  • Apr 26, 2018 11:23am Apr 26, 2018 11:23am
Quoting sandycarrot
Can you get rich quickly from forex trading ? if not ? why not just do the job in general or if there is capital ,why not invest your capital in mutual funds, or leave it to fund managers or something like that , or on the other side if you earn 10% profit in a year in trading do not bother trading alone / does not need to work hard alone leave it to fund managers or mutual funds you will get over it with a smaller risk than the handle itself THX for your comments / participation / input , S.C.
https://www.forexfactory.com/showthread.php?t=267129
  • #332
  • Apr 26, 2018 1:48pm Apr 26, 2018 1:48pm
i'm trying to survive in this business, 5% monthly is good enuf
  • #333
  • Apr 27, 2018 9:16am Apr 27, 2018 9:16am
Quoting mlawson71
{quote} Doesn't learning how to analyzie news also take a long time though?
Yes, it takes time, but it makes sense. Keep in mind that the important events moves the prices
  • #334
  • Apr 30, 2018 6:01am Apr 30, 2018 6:01am
i am not willing to rich by Forex trading, because i had this wishes and for that reason i did huge losses so many times , now i am trying to make sure good knowledge and experience by learning accurately . but its really difficult to learn real market Principle. but i will never give up.
  • #335
  • Jun 14, 2018 6:26am Jun 14, 2018 6:26am
good , mature thinking, good luck
  • #336
  • Sep 20, 2018 2:05am Sep 20, 2018 2:05am
Quoting AlexImam
i am not willing to rich by Forex trading, because i had this wishes and for that reason i did huge losses so many times , now i am trying to make sure good knowledge and experience by learning accurately . but its really difficult to learn real market Principle. but i will never give up.
You are on the right track then. If our first motivation to trade is to learn about the forex markets and trading essentials then we'll obviously understand it better and this will automatically help us in earning more profits.
  • #337
  • Sep 21, 2018 12:05pm Sep 21, 2018 12:05pm
Quoting shingo
people with no idea can get very rich in a short time with forex, its simple, sell at the right moment. maybe a buy in aj @100... but on the other side it is easy to have a loss. to get into forex takes years. beginners have to learn :up ore down? e/u down =strong dollar!
With no idea, there is no way to identify the right moment! The market is very much volatile, as a result; without proper trading knowledge; nothing is possible here!
  • #338
  • Sep 23, 2018 8:39pm Sep 23, 2018 8:39pm
I have never heard of anyone getting rich quick in Forex. It may have happened somewhere sometime, but it is certainly very rare. More often, it takes 5 to 10 years to be profitable at all. Most will go broke long before that.
  • #339
  • Sep 23, 2018 9:39pm Sep 23, 2018 9:39pm
There is no way to get rich quick in Forex. there is no magic pill. any one who like to do this business you need to stay on the field. eat sleep and do everything with the charts. and more you study more you get the experience. there is no way to predict the market 100%. we analyze the history and predict this can happen in next few minute few hours. that can be successful or not. impotent thing is control the risk according to the account balance. person with good patience and management will stay in the field and make good income. the person make good money with Forex doesn't mean he has a good system. even 50% winning strategy can make money if you have good Risk Reword. without that you cannot make money even you have a 90% winning strategy.

So basically Forex is not all about having a good strategy its all about having a good money management with decent strategy and always follow the rule without breaking them. if you brake one rule thats enough to blow us your account. so decline is the key to get rich quick
  • #340
  • Sep 24, 2018 4:49am Sep 24, 2018 4:49am
Quoting foggy
There is no way to get rich quick in Forex. there is no magic pill. any one who like to do this business you need to stay on the field. eat sleep and do everything with the charts. and more you study more you get the experience. there is no way to predict the market 100%. we analyze the history and predict this can happen in next few minute few hours. that can be successful or not. impotent thing is control the risk according to the account balance. person with good patience and management will stay in the field and make good income. the person...
Very true and good advice. Money management is very important indeed. But I don't get what you mean by setting rule, what particular rule that it will blow up the account?
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