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Can you get rich quickly from forex trading?

  • #41
  • Jun 12, 2013 1:42am Jun 12, 2013 1:42am
Quoting Forexnuts
Nice quote, leaves you wanting "more". Yeah, it is one heck of a ride but it is NOT gambling, sorry to abuse that notion but you need to work at being a trade rather than toss a coin and choose "heads/tails"
ok, whatever you believe.

thats a conversation for another thread i guess (again)
https://linktr.ee/Soultrader
  • #42
  • Jun 12, 2013 3:59pm Jun 12, 2013 3:59pm
I wasn't critiquing your post, but was a bit confused on what you meant..but the fact remains that the honeybee does fly and so does the bumble bee despite the disproportionate sizes of their wings..
Getting back to the topic -
For all newbies, always start small, with a nano account. Do not think of the forex as a ATM or any cash dispensing variant and think small or to put it better, "learn to walk before you can run"
  • #43
  • Jun 13, 2013 6:54am Jun 13, 2013 6:54am
Yes one can get rich from forex trading quickly but first he needs to develop some very great strategy on demo account. Then when he gets it perfected he can shift from demo to live and can make quick money.
  • #44
  • Jun 13, 2013 7:00am Jun 13, 2013 7:00am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting hedging
Yes one can get rich from forex trading quickly but first he needs to develop some very great strategy on demo account. Then when he gets it perfected he can shift from demo to live and can make quick money.
Rich + quickly ... in forex means high risk.

High risk ... in forex means gambling.
MT4/MT5 EAs/Indicators/Alerts coder
  • #45
  • Jun 13, 2013 7:55am Jun 13, 2013 7:55am
Like everything in life that's its down to discipline, patience, focus and hard work... and it takes time.
  • #46
  • Jun 14, 2013 1:07am Jun 14, 2013 1:07am
You got to love some of the comments..and yes, the hard work is an essential requirement when it comes to Fx trading, just wish the newbies realize soon enough that there's no easy road to becoming a successful fx trader..
  • #47
  • Jun 14, 2013 11:01am Jun 14, 2013 11:01am
Quoting fido
Yes, you can definitely get rich quickly from trading forex ... BUT only AFTER you have actually learned how to trade - and that can take you a very long time. In fact most people don't make it that far ... probably because they run out of money.
then that's hardly getting rich 'quick' is it
https://linktr.ee/Soultrader
  • #48
  • Jun 14, 2013 11:45am Jun 14, 2013 11:45am
Quoting soultrader
{quote} then that's hardly getting rich 'quick' is it
I think that was my point
  • #49
  • Jun 14, 2013 11:52am Jun 14, 2013 11:52am
First you have to define rich and define quickly To me making 15-20% a month after my acct got to 80000 is rich for me. It took me about 14 months after trading for 8 yes I figured it out
  • #50
  • Jun 15, 2013 1:32am Jun 15, 2013 1:32am
Quoting soultrader
{quote} ok, whatever you believe. thats a conversation for another thread i guess (again)
Sure, right back at you - hey, don't get me wrong, I understand why some traders tend to approach the market for a quick buck and a gambler's perspective..just that hen you start tossing the coin, you are going to face quite a few losses. But guess to each his own and yeah, sure we can discuss this in another thread..
And with fx, you have leverage, MM to make things more interesting, so when you lose, you can wipe out the whole account..
  • #51
  • Jun 17, 2013 2:45am Jun 17, 2013 2:45am
You know, after some thought I decided to tell you the truth. Yes you can! We are here just to discourage all the new and novice traders to try with sentences like "you must learn hell of a lot", "there is no easy way" etc., because we want to leave more money in this easy game, for us.. just tsss! Don't tell anyone.
  • #52
  • Jun 17, 2013 12:50pm Jun 17, 2013 12:50pm
@ Ditter, that just cracked me up, LOL - wish it was true and I can get my hands on most of the trillion $
  • #53
  • Jun 20, 2013 9:09am Jun 20, 2013 9:09am
If we try to get rick quick from trading, then we will only be facing huge loss from this act of ours. As forex market is not a gambling arena where you can succeed without knowledge.
  • #54
  • Jun 20, 2013 10:02am Jun 20, 2013 10:02am
best way to be rich on forex is....

start richer
https://linktr.ee/Soultrader
  • #55
  • Jun 24, 2013 4:22am Jun 24, 2013 4:22am
Quoting soultrader
best way to be rich on forex is.... start richer
heh! It's easy to say, but it's difficult to answer how to become richer?
  • #56
  • Jun 24, 2013 7:30am Jun 24, 2013 7:30am
Getting rich is possible, but quick richness should not be expected.
  • #57
  • Jun 24, 2013 8:15am Jun 24, 2013 8:15am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting soultrader
best way to be rich on forex is.... start richer
Start forex richer isn't a guarantee that you will win in forex.

The only thing is that you started richer ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #58
  • Jun 24, 2013 1:50pm Jun 24, 2013 1:50pm
Mutual funds may not be a good idea of you need some nice return. But they may be a better idea if you know you'd lose if you are to trade on your own.

It's easy to get rich quickly trading Forex. The question is how quickly will you learn and how much losses will you make before you would know how to win.
  • #59
  • Jun 24, 2013 2:01pm Jun 24, 2013 2:01pm
The return on mutuals range from 10% to 20% on average, so guess if you are not sure about trading, you could always opt for mutuals and other forms of investment.
On the start richer, come one, how many of us even started with a $10,000 account and increased it??
Either way, love the last few comments..
  • #60
  • Jun 25, 2013 2:01am Jun 25, 2013 2:01am
yeah, i agree.
maybe it's better to invest in other market or let managers help us.
but if we have good ideas about fx trading, why not try it by ourselves for more money.
fx market is very large and contains much opportunities.
Good luck, my friends.
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