Can you get rich quickly from forex trading?

Consistent profit and patience, and consistency in your trading method, I believe you can.
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But of course, you need to be ready losing money at first....... Even all of your capital..

I don't think so that there is any way to get rich in a short time span, you need to learn a lot and also learn how to analyze the market situation.

Indeed. The learning process alone takes months, sometimes even years. And then you also need to gain experience and learn emotional discipline.

Not much sure if anyone can become millionaire in any business over the night however i think we can get consistent source of earning but still earning through forex trading requires time and patience. You need to learn the tricks of the trade before you can get some additional returns over your investment which means that you should have money to trade forex.

One can get rich from trading. Making 5-7 mil a year by trading just 20k account. Without risking much. If one has a system good enough to make 1% a day or more, people will jump on that one. One MAM/PAMM with 20+ mil within with 25-50% management fee (better the performance, higher the fee) and you are rich now...

However, getting to the 1% a day steady income is the hardest thing of all in trading. It takes figuring out a good trading system. A good system is the one who handles the bad times, cause all systems are equal at the good ones...

It all depends upon the market situation and your knowledge. One can be a successful trader in a day or it might take a year. That all depends on you.

If your going to start trading you need to start with $5000 to $25000 unless you are very patient a lot of people start with to small an account

Read of a trader who made huge profits during Brexit, so yes it all depends on the market situation and most importantly your skills and edge.

as a reminder always remember that people will tell you always that its a learning matter and never rush, the reason behind it is how fast we can make money in this market the same way goes on how fast we can lose it. there is no limit really to how much we can make, the same goes to how much we can loose so its better to be on the safe side and earn gradally but safely.

Some of my suggestion would be:

- Less is more: don't overload yourself with the unnecessary information. Thus, the more complicated your trading platform the less likely you will make any money.
- Don't spend your time trying to find the hidden gem in 1 minute or 5 minutes charts as the majority of the good and consistent profit is made on swing positions following longer term trends.
- Trade daily, weekly and even monthly time frames to analyze the market. In your analysis focus on trend lines, support and resistance levels as well as moving averages as they will give you a hint on market direction.
- Also, trade with what you see but not what you think or believe. You may think that the current EURUSD bear rally is over and you might be right, but if the price is moving consistently towards parity, then what you think becomes irrelevant. Neither the market care about what that “market expert” in his bowtie talks about on Bloomberg or CNBC.
- Major pairs don’t necessarily mean majorly profitable pairs: often easily understandable entries are made on those of minor or exotic pairs. Recently many traders made a large amount of profit on Norwegian Crown, Turkish Lira, Swedish Krona and even the Dax index.

That all depends upon your trading skills and strategies. Sometimes you could make money in months and sometimes it takes years to be a successful trader.

The question is, when it comes to people who make money in months, can they keep making money? Can they be consistent? Because with Forex money comes, money goes and that happens to a lot of people.

It's certainly possible to get rich quick from Forex, but it takes much practice in a demo account, studying of the state of the market, and quite frankly, luck. On one hand, with knowledge of Brexit happening, I imagine many traders made a ton of money from the tremendous appreciation and depreciation of certain currencies, and thus the massive change in certain pairs. However, I feel like in general it can be somewhat difficult for people to make a lot of money in a short period of time. There are just so many factors standing in the way.

I guess overall, "practice makes perfect," or more so, experience and knowledge of what's going on within the world's markets help incredibly.

That was exactly my point as well - you can become rich off Forex, but that's not something that can come quickly or easily.

This is so true

Why not? Its extremely High rewarding business. Anyone can earn easily here. Very Fast Profit ...But Fast loss too :-( So be careful and enjoy becoming Rich .

it's a skill can be mastered. And just like every other skills, mastering is the most difficult part and once you go through the process. Money will come. I didn't get my 300% YTD by pulling a chess last night.

Simple answer: No, because it is highly unlikely.

It's clear that the combination of luck and high leverage can achieve incredible short therm results (gambling). That's how they lure you in. Finally the industry makes sure the odds in this negative sum game work against you. It's a fact that there is a approx 99% chance of losing most or all of your money within 5 years, as long the market goes through several diffrent market phases. If you work with high leverage you won't survice even 6 months.

So if somebody approaches you with an investment idea with a 99% chance of losing your money, would you be interested?
Keep in mind that forex brokers around the world apply hundreds of millions USD of marketing money a year to lure in new victims. The burn through ratio of customers is breathtaking. That is the reason, why more and more countries are implementing either marketing bans, leverage limits etc.

Fact is, the average forex retail account is approx 2500 USD and the account is typically depleted in less than 6 months....

https://www.forexfactory.com/showthread.php?t=651547

Do something productive with your money.

Thank you for your good suggestion , you basically focus on practice but mostly traders especially the newcomers try to make money very rapidly without having any practice , as a result they fall a great loss when trading practically.

It is not at all wrong to be ambitious in trying to get rich via forex, but it is wrong to be impatient. Because of impatience, trying to grab money out of the market hastily. That’s not patience. As an aspiring Forex trader, you’ll have to patient for your plan to develop.
Admittedly, Patience is difficult to cultivate. However, It’ll take you some practice both in a demo and on the live account for you to make real money.