Is forex trading a get rich quick business?

[Cutiekc]

Most at time i do ask my self this question is forex trading a get rich quick program?perhaps looking at the other side most people to make up to 100 dollar per day from trading forex perhaps some people don't even make a single pips.so please friends share you own idea.

 

[valexer]

I think the answer to this question is a big NO! Forex is no lottery where you can walk in it and if you are lucky, you could walk out with $100,000 in just a matter of hours. Forex is a system that lets you build yourself as a trader first and the profits will not be that big especially if you are just a beginner and has limited capital.

Getting success in forex will take time. You have to gain much knowledge and experience to win trades consistently. According to the latest stats, almost 90% of new traders fail in forex so obviously, it ain't easy to be successful and get rich through forex trading.

 

[Sixteen]

Well for me i think that forex is never a get rich game. Because if you look closely we have to trade out profit and sometimes we do loose. Making money from forex takes much time and effort and it totally depend on your capital and trading skills

 

[wasi90lk]

you can definitely get rich from forex trading, if you have enough skills and capital. the earning potential in forex trading is endless.

 

[Sixteen]

I know some people who venture in forex trading and later went out saying the programs is really not good enough in profiting someone. Well i guess because he lacks trading skills but all my life, i havent seen someone who has get enough money to build a house as a result of trading forex.

 

[valexer]

You can't expect forex to give you tons of money after just a year or two. It will take time before you can savor your earnings from forex. You have to build yourself as a trader first and then you have to start from a small trade and let it grow as time passes. I know someone who is already so rich now because he is a very good forex trader. I think he is already a decade in the business. I never doubted him to be a successful trader because of his intelligence and skills. He has exceptional skills and knowledge in forex and all he needed was experience. After more or less five years in trading, I started to see him change his life especially his financial status.

In order to be rich in forex, you have to put time and effort. I think that also applies not just to forex but in other sorts of business too.

 

[Sixteen]

For sure, it will really take time to make good cash that will make you rich and so to attain that height, one need to make sure his trading skills is perfect and been sucessful in many trade he has done. A huge capital will also pave a good way for earning good if you are a good trader.

 

[valexer]

For sure, it will really take time to make good cash that will make you rich and so to attain that height, one need to make sure his trading skills is perfect and been sucessful in many trade he has done. A huge capital will also pave a good way for earning good if you are a good trader.

In my opinion, I don't think you need perfect skills to be successful in forex. Of coarse skills will be surely needed, but I guess more importantly, you need to have the perfect knowledge and gain as much experience as you can in order for you to be successful in trading. Skills will be there, but knowledge and experience are those that are changing and you need to be updated everyday about what is the current trend. This is where knowledge and experience set in.

 

[ayushsrk]

Profits depend on the volume that you are trading (buying or selling).And the more investment that you make then you will gain even more.Because the cost of the pips depend on the amount that you are trading.So if you trade with 10 lots with 1:500 leverage then I think you are going to earn some real good amount.You can earn more than 500$ with one trade from that amount that you trade.But you also must understand that forex will not always give you but also take a lot from you.

 

[riddick09]

It is depends on how you made to be serious and good in analysis & prediction. As we can say that forex can be or can't be a way to get easy money. Only we can involved that there is always risks and there will be always winnings or losses. Probably, when you are successful in forex then you are definitely have consistent profits daily or weekly then you will become wealthy or even rich if you want to term it as is.

Also, we need first to have knowledge, skills and experience in forex trading in order for us to have able to trade well and win more and lose few. I think also to have other guides from other traders.

 

[Sixteen]

The fact has always been that if we wish to know the truth it is a big no. Even forex tutors will equally tell you that forex trading its not a get rich scheme at all and we should not invest what we cant afford to loose. The forex market is a large market that is not controlled by anybody or governmental body. The market speaks for itself. We should know that in order to make a good profit daily, that means we invested much. 100,000 dollars is a good start i guess.

 

[Cutiekc]

You are right the forex brokers and tutor tends to use that to put the urge of trading in us,perhaps it can be a get rich quick business when we are already an expert and not when we are a newbie.

 

[Sixteen]

Yeah thats right, experts are the ones who is really making much money in this business. A newbie in forex has a very long way to go as far as forex is concern. He has to build up his skills, create up a good strategy in other to trade well in the forex market. Making money as a newbie is hard cos you need to encounter loses inorder to build up your experience.

 

[sindarin]

Yeah thats right, experts are the ones who is really making much money in this business. A newbie in forex has a very long way to go as far as forex is concern. He has to build up his skills, create up a good strategy in other to trade well in the forex market. Making money as a newbie is hard cos you need to encounter loses inorder to build up your experience.

so if you not become newbie how could you become an expert lol, if you see around there are many trader that loss until million dollar but still fine and they just keep going on, and then trading again. we cannot get profit anytime when we trading, and for the one who said forex is get rich quick scheme must be fix it, because this field is different and we need more skill in here not only gambling

 

[indieover]

i totally agree with you that we need knowledge , skills and experience. there is no quick route to success in forex. every thing comes with hard work and perseverance. it is not easy to learn strategies and gain success with all those strategies that we have learned.

 

[charlly007]

Forex is not a get rich quick scheme at all.It is not the kind of thing you can get into today and start making huge money.You need to do your home work before you can start making any money from it.Though for experts,they can get rich from it but that will take time.

 

[indieover]

i think those experts that have grown rich here have big capital to invest to begin win. i don't think that you can be rich with small amount like we usually do when we trade. we can get rich , but not a lot of us can get to that point though.

 

[sindarin]

Forex is not a get rich quick scheme at all.It is not the kind of thing you can get into today and start making huge money.You need to do your home work before you can start making any money from it.Though for experts,they can get rich from it but that will take time.

i heard many rumour that some ever tripled their money, in forex so i think to become quick rich in forex possible but the rate is very low, i can say that is nearly impossible to be come true

 

[monyitomon]

firstly, learning Forex will surely cost you a lot of time so which means "quick" words must be excluded with your title because to gain the right skills as you need to develop your own strategy in here. You will surely face a lot of losses in here. In that way you are accumulating the experiences through that losses in Forex trading.

 

[valexer]

firstly, learning Forex will surely cost you a lot of time so which means "quick" words must be excluded with your title because to gain the right skills as you need to develop your own strategy in here. You will surely face a lot of losses in here. In that way you are accumulating the experiences through that losses in Forex trading.

Well you are right mate! You really have to put much time and effort in trying to learn forex. If you really want to get rich in forex then you have to take it seriously and dedicate much time learning it. Accumulating knowledge is easy but gaining experience is hard. We can get knowledge through reading and talking with other traders but in order to get experience, we actually have to trade. This means that we will experience tough losses that we must endure if we really want to excel in forex.