Can you get rich quickly from forex trading? | Page 11 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

10 pips a day can make you rich quickly 244 replies

I don't get how 10 pips a day can make you rich? 71 replies

Anywhere I can get free stock charts where I can quickly flick 7 replies

Once you can trade profitably are you rich? 43 replies

Attachments: Can you get rich quickly from forex trading?
Exit Attachments

Can you get rich quickly from forex trading?

  • #201
  • Mar 22, 2016 7:09pm Mar 22, 2016 7:09pm
Be careful with anything promising you to get rich quickly. You can also get rich playing the lottery quickly (as in overnight), that doesn't mean that you are likely to.
  • #202
  • Mar 22, 2016 7:31pm Mar 22, 2016 7:31pm
No doubt this is one of the most talked about question , well yes you could probably get surprising rich just outta one trade, thats forex for you here ,but the assurance for such super rich trades to occur is minimal.I guess what differentiates the experienced profitable traders from the luck profitable traders is the consistency in making profits .
  • #203
  • Mar 22, 2016 8:01pm Mar 22, 2016 8:01pm
it takes time to get money, no you can not get rich quickly, trading is not lottery.
since we are trading only a small portion of our account, it will take some time.
if you have a proven strategy, expect at least 5 years before you see any substantial richness
Bulls are stupid Animals!especially when Im short!
  • #204
  • Mar 31, 2016 6:25pm Mar 31, 2016 6:25pm
No, you can't because trading requires long way of losses and tough experience. About fund managers, I guess skill of finding appropriate combination of manager/broker/trading conditions is almost as hard as finding your "White way of delight" in trading.
  • #205
  • Apr 3, 2016 6:56pm Apr 3, 2016 6:56pm
we can be rich with forex because forex is a business that has many advantages. but because of the risk of very high forex then to become rich in forex is not easy, to be rich then we need to learn and practice many trading well so that will make us able to trade with a maximum
  • #206
  • Apr 12, 2016 3:33am Apr 12, 2016 3:33am
I guess traders can get regular income streams but it doesn't happens over the night, many traders losses money too but they have to let go off it if they wanted to be successful. I guess a lot of hard work and patience is required in forex trading. Those who spread promising invites of getting richer over the night by purchasing their offers should be avoided.
  • #207
  • Apr 12, 2016 6:46am Apr 12, 2016 6:46am
I believe only professional traders who trade according to good experience and a profitable strategy can get rich quickly.Forex is a very volatile and risky business.I was thinking it's easy to get rich, but after plunging into it,I just realized is not so easy .You have to practice a lot,be dedicated,go step by step and control your emotion.
  • #208
  • Apr 12, 2016 10:33am Apr 12, 2016 10:33am
Its much much much easier to go broke quickly trading forex. Getting rich quickly in forex means there is too much risk and too much luck in the short term. The market can and will bite you in the ass.
There's always money in the banana stand.
  • #209
  • Apr 16, 2016 2:36am Apr 16, 2016 2:36am
Quoting LizardGizzard
Its much much much easier to go broke quickly trading forex. Getting rich quickly in forex means there is too much risk and too much luck in the short term. The market can and will bite you in the ass.
That's the jist of it, yes. The more risks you take, the more you can earn, but the reverse is also true and often far more likely to happen, unfortunately.
  • #210
  • Apr 20, 2016 9:13pm Apr 20, 2016 9:13pm
Forex is not a business that can be rich overnight and therefore we need to have a good trading skills that will allow us to trade with the maximum. Rich in forex requires a process, so we have to be patient to get rich with forex
  • #211
  • Apr 21, 2016 4:55pm Apr 21, 2016 4:55pm
There are stories now and then about somebody who made big figure like 1M USD in Forex trading. Are these stories actually true or br0kers make them up to lure more clients?
  • #212
  • Apr 21, 2016 8:33pm Apr 21, 2016 8:33pm
Quoting Borowikbo
There are stories now and then about somebody who made big figure like 1M USD in Forex trading. Are these stories actually true or br0kers make them up to lure more clients?
If that story is true, what is your course of action?

If that story is false, what is your course of action?

What is your course of action when you read about someone winning $1M USD lottery jackpot? Do you go out any buy lottery tickets? What I'm trying to say is that, stories like that should have ZERO impact on your decisions about whether to trade and what your style of trading should be.
  • #213
  • Apr 26, 2016 9:04pm Apr 26, 2016 9:04pm
rich in forex requires a process and not as fast as we therefore if we want to get rich in forex then we should be able to learn and practice many trading well and continue to improve our psychological well because they are rich in forex is not easy
  • #214
  • Apr 27, 2016 3:14am Apr 27, 2016 3:14am
Yes You Can! Of course you can.

The real fun part though is:

You can also get poor quicker from forex trading
  • #215
  • Apr 27, 2016 3:17am Apr 27, 2016 3:17am
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.
It all comes down to having access to capital to execute a well thorough proven approach that you have become proficient over the years. I'm waiting to have the opportunity to start my own thread.
  • #216
  • Apr 27, 2016 4:26am Apr 27, 2016 4:26am
Quoting sinqua
Yes You Can! Of course you can. The real fun part though is: You can also get poor quicker from forex trading
I really couldn't have put it better.
You can profit more if you're more aggressive in your trading style, but you can also lose everything. In my opinion most traders are better off running a marathon, not a sprint.
  • #217
  • Apr 28, 2016 10:54am Apr 28, 2016 10:54am
Attached Image
  • #218
  • Apr 28, 2016 2:02pm Apr 28, 2016 2:02pm
Yes you can , with coupound interest .
Now , most of the newbies will go to exel and make some stupid plan and think : wow , i will become a millionaire next week.
This is completely wrong because there i nobody who wins 100% of the time.

Coupound Interest : The right way

With a 10,000$ account , risking 2% per trade , risk reward 1:2 , and winning an average 55% , in ~200 trades you will be making 1700$ per trade .
Its all about discipline and following your plan .
I learned the hard way about discipline , losing 60,000$ in a single day . Once you find the strategy that works for YOU , just stick with the plan , see what your average risk reward , what you like risking per trade , the average percentage of the time you win , and create and follow religiously your plan. Doing that , you will have a good time (And good profits )
  • #219
  • Apr 28, 2016 3:51pm Apr 28, 2016 3:51pm
The thread starter has left long time ago.
Guess he could not continue profitably in his fx trading journey.
Attached Image (click to enlarge)
Click to Enlarge Name: sandycarrot.jpg Size: 156 KB
When the going gets tough , the tough get going
  • #220
  • Apr 28, 2016 4:47pm Apr 28, 2016 4:47pm
If you are making a living from Forex then this is pretty good.It is one of the riskiest jobs to manage
atheer1
0 traders viewing now