It is possible to be rich in FX!

First what is rich meant to you? since its vary from person to person. If you define rich as having 100.000 from 1000 investment (its extreemly hard but possible) if you define having 1000.000 from 1000 investment its "impossible" from 50.000-100.000 investment? its is possible and if you are lucky.

It's a fact, that getting poor in Fx is much easier than getting rich. All because of human nature. This forum helps too keep in shape

I must say .. that in my experience.. the brokers and IBs are the biggest enemy's of the retail traders..Leverage from 1-100 or 1-500 .. WHY IS HE GIVING YOU THIS LEVERAGE IS HE CRAZY
Think about it this way.. if there would be a system which would execute your trades like a robot..EA or a trader which would know the holy grail..with this leverage he would be the riches guy in the world..we would have heared from him.. think about the governments .. they would pick up the biggest brains of their country tell them to create a system and wouldn't take any taxes from their citizens..(what would be oil .. why would somebody go to war for it) everybody would make money..THERE IS NOTHING LIKE THAT IN THE WORLD..AND THE BROKER KNOWS THAT..that's why he is giving you so much leverage..so often of times he doesn't even connect you to the market..cause he knows you gonna loose anyway and with the leverage quicker than quick.

I think to understand this.. you have to look it this way.. in the world cups of trading or the hedje founds and companys who have pros trading ..how much gain do they make..look it up.. you will be suprised..they make 40% - 120% maybe the best of the best 200% in average its maybe 50%..they trade to survive..when you look at the accounts of most retail traders you will see a 1000 $ account now lets imagine you will 5% a month or 50 a year.. the guy would make 50$ in a month sitting in front of his chart..using a max. maybe 1-3 leverage..he doesn't need a 1-500 leverage..so then he would make 50 $ on a 1000 dollars .. 250 dollars on a 5k account . now can he live by that i am sure not.. so he keeps dreaming the dream of the holy grail .. the next class by the guru who doesn't trade himself..BUT THE HOLY GRAIL IS IN THE NEXT CLASS JUST AROUND THE CORNER and keeps trying and trying..he will make maybe one month 100% gain but loose it all in the next month ahead.... in my opinion an account less than 20k you shouldn't even start trading the forex.. its a wast of time because of the logical profit..... who do you think you are in brain , technical analysis that you think you can beat the traders in the hedge founds who make less profit that you do... so what is true is that money makes money in forex ..what is also true is that you should practice on small accounts and then pass on to a 100k account to make a few thousand a months consistently .....

I am sure if you go to your gurus and ibs who are selling this dream (for those who are living in the dreamworld) they will say..yes the big traders risk much less because they have so much money and its not theirs and and and...tell them in their face.. really show me your account live password investor.. be sure they will no do it .. you know why because they dont trade.. and they live off your pips spreads or the classes they charge you ..the truth is that nobody nobody can predict the market .. that's why they risk as less as possible.. trading is surviving and making some profits from it at the end of the month ...

have just a look at the gurus they go from NY, to hong kong, then to dubai .. seminar.. i am wondering when they are trading!!!

i have meet so many traders and i can tell you that the best i have met are just 5 from 100 and they make 4 to 10 % consistency in a month.. ..the rest is just gambling around.. I THINK THE MOST IMPORTANT THINK I FOUND OUT IN TRADING IS .. THERE IS A THIN LINE BETWEEN GAMBLING AND TRADING .. .. TRY TO TAKE THE GAMBLING OUT OF THE TRADING BY LOOKING AT REALISTIC PROFITS LIKE 5% A MONTH WITH A 1-2 LEVERAGE AND I AM SURE YOU WILL BE PROFITABLE AFTER A YEAR TRADING..ANY SYSTEM .. I REALLY BELIEVE IN THAT..

PEACE
AND I AM OUT

I believe that I can turn my $500 become $100,000. But I don't know when. LOL! Once done, I will post my live account's investor password here.

So let's say:
-$500 starting balance
-trading 1 nanolot per $100 account balance
-10% profit per month

If I start today, I can make $100,000 in March 2015.

Wish me luck! LOL

There are some niche opportunities to make significant gains, like Uranium, Bitcoins etc.

it is Great psychological issues. on the one hand we need fortune, on the other traders alps need misfortune to discipline the vill

Yes i am with you every success needs times...

As much success you need as much time you need to spend...

All big names spend there life...

Every thing possible in this world...

Well i am only a newbie and still learning,
but no i don't believe you can become that rich in forex. you could possibly have a million in 10 years of forex trading.

Ya I think I recently saw a news clip that said that 1million dollars is not considered rich anymore.

~Tim

There was a thread about a trader who earned $1 million from a single trade.

I have turned 196$ to 11000$ ( Cents account ) ( Real server FXopen )
This was amazed me , but it's just kidding to continue to trade that way

How long did it take or what was lot size?

it must be both, but it still be a legend

Q: is it possible to get rich trading forex
A : Yes Very

Q: Is anyone going to tell you on here how to do that
A: No Never

Q: Are the brokers and everyone else out to get you trading
A: No, it feels that way because you cant trade and lose all the time

When you trade with billions - 1 million is not a profit for you.

its possible bit not likely maybe 10 million : 1

disagree..trading is about a method its about the way u think..thats why there so many systems out there..u could have the holly grail to trade with and still lose money..

its about u..not the method

Well said.

FF members do have a dim view of anyone who says they can make a good living from trading FX or other markets. Trading is not all about getting rich its about making a good living and having lots of free time to live a traders lifestyle. You decide on the lifestyle just as you decide on how much you want to make. And trading needs time and patience to learn the ropes and acquire the skills and mind set before any money can be made.

But yes you can make a living from trading as long as you know how to trade and follow your trading plan (assuming that you have a strategy that works across market conditions and has stood the test of time and longevity). And more importantly suits YOU.

Brokers are not out to get you but failing traders will blame anything and everyone other than themselves. Just as traders who just can't cut it do not accept anyone can make decent money at trading and then ask to see trading accounts as proof. That just reveals that the person asking is not making any money.

Learn how to trade price action on your chosen market(s). Markets do not move in mysterious ways. They are highly predictable. Get this under your hood and you have cracked how the markets move. Then work out how to take advantage yourself. Then decide how much you want to make.....then follow your trading plan.

There are as many methods of trading on FF as I have had hot dinners. The majority of them are just garbage and are ill conceived. Others will throw up a few pips here and there but will keep you at your station all day and night.

I have lots of mates who trade. Around 25% make a living at it. The rest just lose and think its a game that one day will make them rich but they have no common sense and no discipline. The failures hold down day jobs just to feed the trading account. They have been at it too long now to get any better. They will just continue downhill unless they wise up and recognize who is causing the problem. We all trade the same way, same strategy and yet we all get different results. That just means some of us can follow the plan and the rest can't.

Happy Trading

makingpips

Well said..

Its really true .. but i must say something about people who are asking about an account history .. well yes maybe they are 90% loosing money.. but let me tell you this .. the person who is not showing his account history is loosing 90% as well ...

I agree on that mosT traders are lazy in making research or back-test stuff or really have a system before they trade...they just trade for the hype of it and get rich stuff....

But i believe that yes brokers (90%) are just there to rip the traders off...Go to the Forexpeacearmy and just have a look ... you will understand what i mean ...


most brokers are market makers and bucket brokers which means that when you loose they win...
And yes the broker will post stuff.. get rich stuff .. cars and money on his page .. and give you an analysis and and and..to get you to open an account .. he is not making the spread he wants you to loose your money ...that's his goal.. there are brokers who are only connecting like FXCM which have no benefit when you loose .. the opposite is the case .. because they just get the spread once you are out they dont get any spread.. ..

So i agree with you .. but .. HEY LET ME JUST SAY THIS IF ANYBODY WANTS TO TEACH YOU FX .. TELL HIM TO SHOW TO YOU HIS ACCOUNT HISTORY OR BETTER TO GIVE YOU AN INVESTOR PASSWORD..IF AIN GIVING HIT.. HE AIN TRADING OR WORSE HE IS JUST LOOSING HIMSELF..

ITS LIKE SOMEONE TEACHING YOU HOW TO DRIVE AND HE HAS DRIVEN 5 CARS TO THE WALL....

HAPPY TRADING ALL..

Yes! But nobody will tell you how! They will keep silent!