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

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Can you get rich quickly from forex trading?

  • #1
  • First Post: Edited 11:42pm May 18, 2013 9:18pm | Edited 11:42pm
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.
if there is something you should keep secret,simply just save it,, so, just
  • #2
  • May 19, 2013 1:53am May 19, 2013 1:53am
Can you get rich quickly from forex trading? Yes.

Is it easy? Probably not.

Why not invest in a fund instead of trading?

When you trade on your own, its up to you how much you make (well, also depends on the market as when theres no volatility theres no trading possible)

People who are trading try to make more than 10% per Year. Some succeed, many fail.
  • #3
  • May 19, 2013 2:14am May 19, 2013 2:14am
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.
I know people who are currently making a killing trading currencies, but guess what, theyve been at it for over twelve years
  • #4
  • May 19, 2013 2:49am May 19, 2013 2:49am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting sandycarrot
Can you get rich quickly from forex trading ?
If that's your goal, you will be a loser ...

Forex needs experience, discipline and patience.
MT4/MT5 EAs/Indicators/Alerts coder
  • #5
  • May 19, 2013 3:35am May 19, 2013 3:35am
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.
Search for a good fund manager then let us know
  • #6
  • May 19, 2013 4:06am May 19, 2013 4:06am
This is one of the reasons that we have more than 95% losers in forex market. The wish of making quick money in forex market will get you just losing it quick. This is a systematic process and has to be learned properly to make a decent money.
  • #7
  • May 20, 2013 3:53am May 20, 2013 3:53am
You will not success in any investment if you have "get rich quick mentality".

Because there is a much higher risk and you won't gonna make it.
  • #8
  • May 20, 2013 6:21am May 20, 2013 6:21am
Yes of course you can get rich quickly......only that it takes about 15 years to get rich quickly......learn how to get some pips off the market first and money will follow.
DAnny
  • #9
  • May 20, 2013 10:19am May 20, 2013 10:19am
There's no easy way to get rich quickly, you need to really enjoy what your doing and find the monetary rewards later as you go along the way.
  • #10
  • May 21, 2013 2:20pm May 21, 2013 2:20pm
Yes, you can get rich by trading in currencies but it will take time, years of live trading and discipline. It is not going to happen overnight and you need to put in the grunt work to make the pips..
  • #11
  • May 21, 2013 3:47pm May 21, 2013 3:47pm
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.
That's the wrong question. The right question is, if you wanna get rich quickly, why trade forex?

If you want to get rich quickly, just open a Business. The probability to get rich by running a business is 1000 times higher than by trading forex.

Just ask yourself: How many people you know personally (not from the newspaper or TV) who own a business and are successful running it? For me i would guess about 20 to 30 People.

Now ask yourself how many people you know personally that trade forex on a professional Basis? For me - Zero. I don't know one single Person that can make a living out of forex.
Forex is a losers game.
  • #12
  • May 21, 2013 4:15pm May 21, 2013 4:15pm
Quoting trader121
{quote} That's the wrong question. The right question is, if you wanna get rich quickly, why trade forex? If you want to get rich quickly, just open a Business. The probability to get rich by running a business is 1000 times higher than by trading forex. Just ask yourself: How many people you know personally (not from the newspaper or TV) who own a business and are successful running it? For me i would guess about 20 to 30 People. Now ask yourself how many people you know personally that trade forex on a professional Basis? For me - Zero. I don't...
Why do people always name numbers but no source?

So you are saying that its 1000x more likely to get rich with a business rather than forex trading. Any source? If not its just bs. There are statistics that a large percentage of businesses also fail (for sources google you ll find it quick).

Its the same for this "95% are loosers" thing. Spread over and over again by people. Even if you show statistics that these people are wrong, they insist on the numbers.

The next point is even more ridiculous: You are claiming that the number of people you know are a statistical significant number? How many people do you know 100? 200?

If somebody is running a business, he deals with people, so everybody is aware that he is successful.

If somebody is a trader, he is working on his own. Why should he spread his success? Its just stupid.

Forex has one great advantage over other businesses. Its perfectly scalable. If you have a pizza restaurant that is successful, its a lot of work to open a second, third restaurant.

But with FX, it doesnt matter if you are trading a microlot oder 100 Standartlots.
  • #13
  • May 22, 2013 12:16pm May 22, 2013 12:16pm
Agreed, Fx has one advantage over the B&M world of business that no one can deny - you can scale it according to how much you want to trade with..
And as to the "no one can make a living out of forex", well, if you want to believe that, sure, go ahead but believe me, lots of traders trade profitably with great ROI..
  • #14
  • May 22, 2013 3:07pm May 22, 2013 3:07pm
Quoting hedging
This is one of the reasons that we have more than 95% losers in forex market. The wish of making quick money in forex market will get you just losing it quick. This is a systematic process and has to be learned properly to make a decent money.
I agree with this man, from what I've observed and read about, forex trading is hard and it takes time to be proficient at it and earn enough capital to make a substantial amount of profit.
  • #15
  • May 22, 2013 6:59pm May 22, 2013 6:59pm
It's not about the money, it's about the game. In my case that's the explanation. I can't figure out how did that happen or what was so pecial about it that made me want to do it, but I guess that Dreiser's 'Trilogy of desire' had impacted me back then when I read these three outstanding novels for the first time. I was 12 or 13 back then, and when I finished reading the very first chapter of 'The Finacier' I already knew what I wanted to do for a living. I bet that lots of chaps out here share a similar to mine story.
Blue Horseshoe loves Anacot Steel. - Wall Street, (1987)
  • #16
  • May 22, 2013 8:41pm May 22, 2013 8:41pm
The financier now that's a good book..all the way to Stoic. On forex being a game, guess that's one way to look at it. But bottom line, if you are not serious about your trading, or planning to sell soaps for a profit with no idea on how to increase the profit margin or which market to corner, you may not make much in this market..just sayin'
  • #17
  • May 22, 2013 9:40pm May 22, 2013 9:40pm
Quoting Forexnuts
On forex being a game, guess that's one way to look at it. But bottom line, if you are not serious about your trading, or planning to sell soaps for a profit with no idea on how to increase the profit margin or which market to corner...
I used a word 'game' in its wider sense, so I think in order to clear myself here I should also mention that when I said it was 'the game' I meant not some 'fun & games' type of thing, but something way more complicated, a process that people take part in the market. A 'market game' if you will, which should be a part of a much bigger game which is the 'game of life'. And obviously I never intended to make it sound as if I was refering to it as if it was a random pickup time-killer (hate that expression but nonetheless) cards game or something else of that nature.

PS: 'The game' thing was actually a quote from the 'Money never sleeps' movie. Remember that scene, when kid approaches Gekko in his new London office and confronts him claiming that it was a sense of greed that drove Gordon making him to betray even his own daughter to get those 100mil, Gekko replied: 'It's not about the money, it's about the game'. It get even better in controrary to what Bretton told Jake when being asked by the kid what was his number. His number was 'More'. To me that was quite a defining moment and I really enjoy using that quote at times. Like for example here today. I was in a great mood and just wanted to share with people out here, I even registered at FF in order to access the forums
Blue Horseshoe loves Anacot Steel. - Wall Street, (1987)
  • #18
  • May 23, 2013 2:47am May 23, 2013 2:47am
Quoting Forexnuts
Yes, you can get rich by trading in currencies but it will take time, years of live trading and discipline. It is not going to happen overnight and you need to put in the grunt work to make the pips..

Forex already made me rich. Oh I am not that rich because I started forex in my student life and I was rich than my other classmates because I was earning good. Now I am improving to make more money.
  • #19
  • May 23, 2013 3:09am May 23, 2013 3:09am
I don't think so..... It is a very tough task. I also thought forex is a shorter way to get rich quickly. Unfortunately it's not that easy. The thing that happened was I lost some money.

Now I am improving my trading skills and getting some money
  • #20
  • May 23, 2013 7:22am May 23, 2013 7:22am
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!
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