Even in the so called illegal businesses, there are lots of risks involved, way much higher than that of Forex. In this life, nothing good comes easy. The best way to enjoy the lucrative nature of Forex is to get serious with it and remain patient, over time, it will start yielding profits.
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Is forex trading a get rich quick business?
- Thread starter Cutiekc
- Start date
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i think yes only for those who have complete knowledge and experience in forex tarding..if you know what should you do in which situation of the forex market it not impossible for you to become quick rich..
That way it is no longer a get rich quick business if it will alone be for those who are knowledge and well exprienced due to they have spend some months or years before they were able to become exprienced and knowledged.
To learn forex trading first it is necessary to get theoretical knowledge about forex trading. To get adequate knowledge about forex it takes near about a week. Then it is necessary to practice trading at demo account. While practicing you have to learn many things and increase your skills. And for that it takes few months. If it takes months to learn then how can we say that we can be rich quickly at real trading.??
Getting rich with the forex is not easy at all. I am sure you know that being rich is not that easy and you have to work a lot harder to manage the forex trading. some of the time you can see that forex requires effort from various other ways and this is something you need to understand too.
Forex is a speculative activity. It actually does not come under the realms of business as neither a product or a service is sold. It is also not a get rich profession. Only commitment, patience, mind control coupled with reasonably good strategy can take a trader in the path towards financial freedom. It can never happen overnight.
For the single fact that Forex remains speculative in nature and that which is full of probabilities, it makes it very difficult to associate it to a get rich quick business. It takes an average trader time to understand how the system works and it is only those that were able to withstand the test of time that could enjoy it thereafter.
Bank robbery could be get rick quick or go to jail quick and losing everything quick. I mean there is no way to rob a bank in the US and get away with it. You will get caught sooner or later with all of those surveillance and witnesses. In this US they have always caught bank robbers. It might be easier to do it in other country though cause no one cares if you got robbed. Forex can make you rich quick if you are super smart and know how to get it.
Now, the issue becomes; your smartness that can make you rich quick okay Forex has to depend on one or more not so easy factors of which one should be the amount of capital you are trading with such that you trade in a bigger lot size and expect a higher profit. That would only be easier for a rich trader which that money can still be invested elsewhere and bring similar ROI. To the best if my knowledge, I am yet to see how a new trader can become rich in Forex quicker.
Nope, the random money cannot be made again in short time range, in long term range it will be possible even i don't the possibility would be so much high, and for me forex is not even a quick rich business, i can say forex as quick profit but not as quick rich because the risk in forex also high.
It can be if you have the capital to start trading and you open many traders and they are mostly winning traders or that you are a good trader and you make a lot of money trading. You can do well and maybe only have to work part time and still have some money to pa your bills. I don't see why someone can't get rich quickly if htey have money to trade or if the're exceptional at trading. Its not too hard to make money in forex.
obviously not Forex is not et rich quick business..yes in Forex there is a scope of getting hue profit..but there is always chances of loss exists in this very risky business..if any one thinking that he will be rich in one night just thinking wrong.
You can if you have a lot of capital to start out iwth. not all traders are poor and need to stat out with low capital or anything like that. There are many people who have like ten k to throw away so they will risk it high and then make even more profit. Sometimes its all about risking and then gaining too. It will all depends on each trader. Not all traders have the same risks tolerance level or capital size either.
Well for me I think that Forex is never a get rich means. Because if we look closely we will notice that Making money from Forex takes much time and efforts. A trader can succeed only after much learning and practice. No learning no earning can be there in FOorex.
Not a quick rich or profits but a good business or investments. But the traders always fail to realize and think Forex is just like HYIP that often have the huge profits. And still even with the years of trading you can't still be successful or profitable. You have many things to consider and acquire to have reach your target.
Forex trading is never like HYIP since HYIP is scam
. Someone says that they can easily earn 50% - 100% profit per day by trading but in fact, whether they really do it or not, they're newbie and not know anything about market. Don't let them and their profit they've made mislead you.- Status
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