Can you get rich quickly from forex trading? | Page 4 | Forex Factory

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Can you get rich quickly from forex trading?

  • #61
  • Jun 27, 2013 5:27am Jun 27, 2013 5:27am
We can get rich but not quickly for sure.
  • #62
  • Jun 28, 2013 6:05am Jun 28, 2013 6:05am
Quoting Greeneyez
We can get rich but not quickly for sure.



Nice quote mate.
  • #63
  • Jun 28, 2013 7:10am Jun 28, 2013 7:10am
Quoting Forexnuts
{quote} 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..
What I think Soul trader is getting at is that it is gambling, even when you use MM and have an edge that puts probabilities in your favour. This acceptance and realisation has cleared up a lot of emotional noise that wasn't helping me. It's the acceptance of a few core beliefs when it comes to the nature of the beast we are participating in. Some of which may include:

1. "Anything can happen"
2. "I don't need to know what is going to happen next to make money"
3. "Every moment in the market is unique"

I owe a lot to Mark Douglas - absolute giant of a man

Yes trading is gambling - because we're risking money on an uncertain outcome.

We can choose to add structure, MM and define an edge that puts us ahead over time - or not.

But my 2 pips on the title of this thread? You can try and GRQ but my advice would be not to risk any significant amount of money trying.

Most of us who are still here have had this lesson beaten into us the hard way... For some reason no matter how much new traders are advised to be sensible and business like they will still 'have a go' thinking "It'll be different for me". I just hope that it doesn't cause you too much financial and emotional pain learning why everyone says MM/rules etc are so important...

But if you must get it out of your system get it out of the way now and try and live to trade another day if the experience doesn't put you off altogether.
Anything can happen.
  • #64
  • Jun 29, 2013 6:30pm Jun 29, 2013 6:30pm
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.
Yes of course but you can also get rich quick by winning the lotto. That's called luck. To become rich in FX trading and be consistently profitable over time requires experience. With with experience comes lots of losses along the way.
  • #65
  • Jul 3, 2013 10:12am Jul 3, 2013 10:12am
Quoting soultrader
the currency market is the worlds largest casino. you are gambling on probabilities. Just as a horse racing fan will study form, ground conditions etc traders study patterns and historical levels. It is still gambling when you have no control of the outcome.
So true. It amazes me that so many people don't want to recognise this because gambling is a dirty word.
Nothing worth having is easy.
  • #66
  • Jul 3, 2013 10:15am Jul 3, 2013 10:15am
Quoting Mingary
You would think that working at McDonalds would really suck (and I am sure it does)
It doesn't actually. It was one of my favourite jobs many years ago.

Would you like fries and a drink with that?
Nothing worth having is easy.
  • #67
  • Jul 4, 2013 1:36am Jul 4, 2013 1:36am
Quoting Patience
{quote} It doesn't actually. It was one of my favourite jobs many years ago. Would you like fries and a drink with that?
He he he ....

Same here mate. Love the old job. Had fun to the max
  • #68
  • Jul 4, 2013 2:29am Jul 4, 2013 2:29am
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 you. Haste makes waste.
We have to learn step by step and it's not so easy as other trades.
  • #69
  • Jul 4, 2013 4:24am Jul 4, 2013 4:24am
there IS a way to gamble

http://www.ildado.com/top_gambling_tips.html
  • #70
  • Jul 4, 2013 4:32am Jul 4, 2013 4:32am
Quoting Vitez
there IS a way to gamble
so have you gained?
I don't think it's ok to put it here, guy
  • #71
  • Jul 4, 2013 6:26am Jul 4, 2013 6:26am
spin the wheel, throw the ball
https://linktr.ee/Soultrader
  • #72
  • Jul 4, 2013 8:09am Jul 4, 2013 8:09am
Quoting eleva_urune
{quote} so have you gained? I don't think it's ok to put it here, guy
the idea is to take some of these concepts and implement them into your MM plan for trading.

that's what I did on my manual demo trading account made 50% per month now let's see how it goes on..
  • #73
  • Jul 4, 2013 1:25pm Jul 4, 2013 1:25pm
Can you get rich quickly = Yes, very rich.
Is it easy = No

If you know how the market will move at 10:32am tomorrow you'll make a colossal amount of money.
  • #74
  • Jul 5, 2013 1:34am Jul 5, 2013 1:34am
I just to know that the FX market is just a zero Game, you won the prize mean someone lost the money too, if you can win many many times and lose afew times stablely only!
You have 1 bilion USD, Someone have too. And if the Market just you, he and the broker, when someone go broke, ex. he, you won the prize 1.6 bilions, he lost all and the Broker get 0.4.
The more times you trade, the more money you may lose.
  • #75
  • Jul 5, 2013 1:56am Jul 5, 2013 1:56am
Quoting Laundry
Can you get rich quickly = Yes, very rich. Is it easy = No If you know how the market will move at 10:32am tomorrow you'll make a colossal amount of money.
Does it enough for this to know all econo,ical news and to understand them absolutely and as result to know how the price will going on?
  • #76
  • Jul 5, 2013 2:34am Jul 5, 2013 2:34am
No one know where the price will go you can predict where YOU think it will go thats it and there are a lot of ways to predict the price swings sometimes you are right and sometimes you are wrong thats how market works.
Don`t dream your life, live your dreams!
  • #77
  • Jul 7, 2013 6:13am Jul 7, 2013 6:13am
One rule to succeed I've got from a senior that "Don't trust anything, don't let all of your hope to anything, don't look back-ward the pass and don't dream about the future" - I just can't understand if we don't trust or believe anything so what things we against to trading?
  • #78
  • Jul 12, 2013 10:33am Jul 12, 2013 10:33am
A good friend of mine told me when I started getting serious about trading, "It's not a race to the riches, but a slow walk". Can you get to the finish line by running? Yes, but you may get tired soon, you have a better chance walking there. The market will be there tomorrow, will you?
  • #79
  • Jul 12, 2013 5:33pm Jul 12, 2013 5:33pm
I guess a better analogy would be the turtle and the hare.,sounded good when we were kids and guess what, applies to the market today.
  • #80
  • Jul 14, 2013 7:14am Jul 14, 2013 7:14am
Quoting Alanamc
{quote} He he he .... Same here mate. Love the old job. Had fun to the max
Yeah, I noticed that I wasn't that clear in my post. It was the crew and not the work (as such) that made it one of my favourite jobs but you got what I meant and only someone who has worked in McDonalds would
Nothing worth having is easy.
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