Can you get rich quickly from forex trading? | Page 12 | Forex Factory

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Can you get rich quickly from forex trading?

  • #221
  • Apr 29, 2016 4:21am Apr 29, 2016 4:21am
if you want to focus on long term wealth than my answer is no.. get rich quick in forex is a scam .. it takes time and a lot of patience, also trial and error!!!!!!
  • #222
  • May 3, 2016 8:59pm May 3, 2016 8:59pm
rich in forex requires a process, we can not be rich in forex in a short time. for the rich in forex then we need to be patient. we must use the time well to improve their skills and a good trading psychology for success in forex
  • #223
  • May 4, 2016 4:37am May 4, 2016 4:37am
I have been working the last 10 years to become an overnight success... (paraphrased!)

I think this sums it up pretty well. Most 'wealthy' or 'successful' traders - however you want to define it, have been working at this for a long time, and we only hear about them when they become successful - whether it be by reading about them, seeing them on a TV program, biopics... whatever the medium is, and suddenly they are this overnight sensation.

I always maintain it is easy to make money - it is the keeping it that is the hard part!
  • #224
  • May 4, 2016 4:40am May 4, 2016 4:40am
Quoting rolandW
I have been working the last 10 years to become an overnight success... (paraphrased!) I think this sums it up pretty well. Most 'wealthy' or 'successful' traders - however you want to define it, have been working at this for a long time, and we only hear about them when they become successful - whether it be by reading about them, seeing them on a TV program, biopics... whatever the medium is, and suddenly they are this overnight sensation. I always maintain it is easy to make money - it is the keeping it that is the hard part!
Would like to add a picture to your comments :
Attached Image
When the going gets tough , the tough get going
  • #225
  • May 4, 2016 5:06am May 4, 2016 5:06am
Quoting Stubborn
{quote} Would like to add a picture to your comments : {image}
haha! spot on!
  • #226
  • May 10, 2016 6:30am May 10, 2016 6:30am
Many people are thinking to become rich quickly but that is almost impossible in forex trading.It's more easy to blow your account.We have to trade with a lot of patience!!!
  • #227
  • May 11, 2016 3:04am May 11, 2016 3:04am
I sure can get rich with forex but not in the near future due to the rich in forex is not an easy thing we can get. we have much to learn and practice trading well if want to get rich with forex therefore we need to be patient and disciplined
  • #228
  • May 13, 2016 4:44am May 13, 2016 4:44am
People usually need to study and practise for years and years before they are able to profit consistently from Forex trading. It's not easy and it's not quick and anyone who thinks otherwise needs to stop and step back, because they'll only lose money.
  • #229
  • May 17, 2016 11:44am May 17, 2016 11:44am
I agree too. Forex is not a place where individuals can make substantial amount of money in a short period of time just from making a few "correct guess trades". It takes time to master the art of Forex trading and understanding of its counter parts. You also need a lot of patience and time which a lot of people do not want to put in when looking for ways to make profit from Forex. In my opinion, if you study and practice for years on how to commit to the exchange correctly, you can make decent profit from it consistently.
  • #230
  • Edited 12:21pm May 17, 2016 11:51am | Edited 12:21pm
rich+ quickly+ forex = pure gambling

If you want to do some gambling, I would suggest to make some kind of fx account with very small deposit of money you can afford to loose (lets say 500 Eur). Sometimes I like to do some gambling to test high risk strategies, example, I am making silly targets- double account in two weeks time. Is it possible? Sure it is but I would never ever do the same trading with my normal accounts lol.
  • #231
  • May 17, 2016 1:50pm May 17, 2016 1:50pm
Forex is hard work unfortunatelly. There is nothing quick here (besides of margin call )

People usually think that they are special, that they are smarter and their story will be different (of course I can beat the market, price can go up or down, what the hell is difficult here), but market will verify this fast.
  • #232
  • May 17, 2016 3:52pm May 17, 2016 3:52pm
You can get rich quick with forex but you can also go broke quick(normally this is what happens)
Old ways dont open new doors
  • #233
  • May 17, 2016 4:35pm May 17, 2016 4:35pm
Ive been trading for about 3 years and i have just over $4000 in my account i hope to get to $10000 by the end of the year so i think forex is quite slow it all depends on how much money you start with i think you need to start with a decent amount of money but i do think you can make heaps of money if you stick with it
  • #234
  • May 17, 2016 6:51pm May 17, 2016 6:51pm
it takes a very long time, years, even many years, and you will be losing a lot of money trying to learn it,
but once you finally get it, you can make all the money you want, no fund manager can or will do that for you,
besides that, trading is not just about making money, it is a passion,
if you only want to make money and have no further interest of the market and trading,
you will not succeed because there will be no joy or pleasure doing it for you.
you will quickly find it incredibly boring and you will not have the discipline to follow it through,
trading is not for everyone. if you don't think it is fun and very interesting every day you sit down to trade.
then you are better off doing something else.
Bulls are stupid Animals!especially when Im short!
  • #235
  • May 18, 2016 4:03am May 18, 2016 4:03am
Usually people's interest in the market comes from the desire to make money, so the two are pretty interconnected in my opinion.
  • #236
  • May 18, 2016 6:29am May 18, 2016 6:29am
You definitely can. If you are a pro and quite risky person.
  • #237
  • May 18, 2016 9:28am May 18, 2016 9:28am
I get up late at night sometimes and just turn on my trade station, not that i want to trade or monitor a position, but i just felt like watching price move. Fu.k I must be insane!
  • #238
  • May 18, 2016 11:14am May 18, 2016 11:14am
oh the comments.. soo funny lmao !!

i started trading 2 years ago, its my only income i dont have a regular job; i have an apartment, 2 cars (a daily driver and a built jeep for off roading/overland, etc) and i live very well.

My "knowledge" comes from this site.. yes thats right; i learned trading reading this forum, i use 1 SINGLE indicator that i adjust everyday.. traded a demo accounts for like 3 months and then started LIVE

people in general dont even understand the point of an indicator, how to tune it and the whats the real info they are showing you, let alone trading in general

they just repeat over and over again the same copy/paste info

aaand the funny part? the real important post/comments from the people that actually UNDERSTAND the mechanics of trading.. they are overlooked or discarded

Good Game people.. GG =)
  • #239
  • May 21, 2016 4:19pm May 21, 2016 4:19pm
Quoting h96
{quote} 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...
I must agree 100%. It is really more of a case that a lot of people just feel ashamed to lose money in FX trading. It feels wrong and perverse. It is likely admitting you paid for sex and caught an STD. No one sympathises. If you ran a business and failed everyone says you are a trier and you have to keep going. The one thing all successful people have in common is persistence. If you are concerned with how others see you as you attempt the impossible then you will always be just a number. So the rule is the same for FX and anything else.
  • #240
  • May 25, 2016 11:45am May 25, 2016 11:45am
1.- Can you learn to trade for real and not read/repeat all the 97% of the copy/paste crap that is in the internet??

2.- Can you have enough discipline to wait for the ideal conditions for a trade??

3.- can you turn off your EGO ??


if the answer is yes 3 times.. then you can become rich by trading...

if not.. find something else to do (no offense)
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