Is forex trading a get rich quick business?

[Decub]

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, that would depend on what the person calls rich because someone that has huge capital would have been rich and is only looking for a way to stabilize the wealth. I guess a bulk of those that see Forex as a get rich quick business are those that liken it to gambling, thinking a poor man can easily tripple his little funds and compound it in a short time.

 

[Cutiekc]

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.

Even at that hyips are not a get rich quick business because while investing with them you are not sure of getting the return back also you'd have to wait for some period of days or weeks depending on their plan and the waiting days.

 

[kaiceaziz]

Even at that hyips are not a get rich quick business because while investing with them you are not sure of getting the return back also you'd have to wait for some period of days or weeks depending on their plan and the waiting days.

Yeah, actually every time i invest in hyip turns to scam the very next day so hyips not a get rich programs at all. And the same applies to forex . But in forex you didnt get lose by scam . You get lost by bad luck and lack of experience. So, in my opinion, the chances to get rich in forex are aint enough and very low indeed.

 

[riddick09]

That's a problem with the HYIP, you can't control of your losses and will not know when you will lose because, they will become apparently turn to scam soon enough. Unlike Forex you will have control of your losses, your trading account will not lose even you are not trading on it. But then, Forex isn't fast way to become rich.

 

[hasan87]

I don't think that Forex is a way of getting rich quickly. Forex is a business. There is a great chance to earn a lot of money within very short time. But to do so, one trader should have some extra-ordinary qualities. Forex is highly risky market. A trader can lose any time also.

 

[Decub]

Yeah, actually every time i invest in hyip turns to scam the very next day so hyips not a get rich programs at all. And the same applies to forex . But in forex you didnt get lose by scam . You get lost by bad luck and lack of experience. So, in my opinion, the chances to get rich in forex are aint enough and very low indeed.

Yes, most times, the chances of losing in Forex gets wider with lack of experiences. Also, the perception that it is a get rich quick business makes it even more deadly to try out because it would be clear that the trader will present greed upon understanding the business.

 

[Daisy]

I'm beginning to see the theory the rich get richer and the poor get poorer to be true in forex as well. I mean if yo're wealthy you have the capital to continue to make money and you're smart so you also make more money than others. Versus a poor man, he has no capital to make money and he might not be smart enough to make more money. I think forex is not a get rich quick kind of deal but one can expect to earn a decent income from it.

 

[riddick09]

Obviously, not. A rich person can be poor trader and poor person can be a rich trader. This means that it's not about your status in life you can make Forex business but it's your trading skills and strategy that will achieve your goals even in life. But then, it's different from to become rich easily because, we need to work on it.

 

[Pettyeve]

I'm beginning to see the theory the rich get richer and the poor get poorer to be true in forex as well. I mean if yo're wealthy you have the capital to continue to make money and you're smart so you also make more money than others. Versus a poor man, he has no capital to make money and he might not be smart enough to make more money. I think forex is not a get rich quick kind of deal but one can expect to earn a decent income from it.

I see it from this, the experienced trader gets richer while the inexperienced one gets poorer. They invest their money as fools and go home to relax. Maybe an unskillful trader sees forex as a HYIP which needs no action from your own part.

 

[budado]

I guess I can say yes. So far so good that I do earn good amount of money. I'm really happy and excited to see myself earning some good income in here some how. I do believe I can really handle my account in here without any worries. I'm sure we all be making one good income one after another.

 

[Decub]

You can as well agree with me that getting to that point wasn't an easy task. You may have started growing your capital little by little. Having to pass through the tick and thin of battling with the huddle of learning and compounding capital.

 

[Daisy]

I think many newbie walk into forex thinking this way but as soon as they lose they will realized that forex is not a get rich business. Its more of a losing kind of business if you just want to rush with it. Forex is not for rushing. Even if you get lucky, its only one or two times then you will see your misery. Better to take your time to learn it really well. Forex is all about knowledge.

 

[budado]

I think many newbie walk into forex thinking this way but as soon as they lose they will realized that forex is not a get rich business. Its more of a losing kind of business if you just want to rush with it. Forex is not for rushing. Even if you get lucky, its only one or two times then you will see your misery. Better to take your time to learn it really well. Forex is all about knowledge.

If you know how to trade in forex then I guess we can make good income in here. I'm so excited to see myself earning really good income. In two to three years I can really handle my account in here without any profit. I'm sure we all be making so good income that in two to three years time we can really become a big time trader.

 

[Decub]

That is only possible when we have gotten some good knowledge because the much I know is that no new trader can make fast money in Forex no matter how much his capital is worth. Well, he can be fortunate to have some profit some time but the majority of the time gives him losses.

 

[Pettyeve]

That is only possible when we have gotten some good knowledge because the much I know is that no new trader can make fast money in Forex no matter how much his capital is worth. Well, he can be fortunate to have some profit some time but the majority of the time gives him losses.

The trader who has the knowledge has the ability to make the money. It is these group of traders that can see forex as a money making machine. While to a trader who has no knowledge or skills, he will only end up losing.

 

[Decub]

The trader who has the knowledge has the ability to make the money. It is these group of traders that can see forex as a money making machine. While to a trader who has no knowledge or skills, he will only end up losing.

But even to the skilled or experienced trader, he still needs some good capital to achieve this. He can't of course get this quick money out of the blues. It passes through a medium which is the capital and the more the capital, the more the tendency to get more money.

 

[ryuken]

Getting rich overnight myth seems to be sticking forever when it comes to the forex trading. not even PAMM can give you that much earning. however you should have some money to invest into the forex just to make such money on regular basis. Never treat it like getting rich overnight money.

 

[gkintl]

Speculative activities, as long as it is done wisely, enables an investor/trader to beat inflation. This allows the person to rise above others in terms of annual income. However, in most cases, individuals take up speculation without acquiring enough knowledge. This leads to substantial losses. Capital employed in trading has very little relevance. If the capital is misused or invested without proper knowledge and experience then even a million dollar will get eroded in no time. On the other hand, a wise and smart trader can multiply even a small capital into a considerable amount. Thus, it is the trading ability that matters in forex trading than capital employed. This statement is particularly true with regard to forex market because of the incredible leverage offered by brokers. Thus, capital invested pales into an insignificant criteria. Getting rich quickly is directly related to the ability to trade in the market. An adept trader can certainly get richer very quickly when compared to any other profession.

 

[barood4money]

I'm beginning to see the theory the rich get richer and the poor get poorer to be true in forex as well. I mean if yo're wealthy you have the capital to continue to make money and you're smart so you also make more money than others. Versus a poor man, he has no capital to make money and he might not be smart enough to make more money. I think forex is not a get rich quick kind of deal but one can expect to earn a decent income from it.

It is true that capital matters to earn a good amount. But most of all knowledge and experience matter to earn. If a rich person has no knowledge about forex trading and he is trading then there is a full chances of being poor.

 

[ryuken]

Forex is not at all get rich quick business. You can see that getting rich quickly is not that easy and you would find that some of the people who are into the trading can tell you. Most of the time people do trade for that reason and end up losing the money in some time.