Is forex trading a get rich quick business?

[Daisy]

I think forex is ok but its too risky to be all dependent on it. I'm not all dependent on it. I like to do it for fun and some side money if possible but its too hard to have a full time income from it unless you would have time to sit in front of the screen and wait for a trend all day long which I don't like to do. I also think that there are way too many risks to get rick in it. I think one can earn just a modest income unless the person is a guru then they might earn more. I don't wish to get rich in forex since its not that easy for me to get profit all the time.

 

[Bonyi]

Though you can make money trading forex does not mean it is agent rich quick business. To make profit in forex requires studying, learning, skills and strategy. To have endless success in forex requires knowledge.

 

[barood4money]

Though you can make money trading forex does not mean it is agent rich quick business. To make profit in forex requires studying, learning, skills and strategy. To have endless success in forex requires knowledge.

Yes, it is true that to make profit forex requires lots of learning. More you learn, more you gain skills and can plan better strategy. And the amazing fact is more you gain experience more you get to learn new strategies.

 

[hadg33]

Yes,you guys are right,forex really needs a lot of skills/strategies and knowledge. Without those three mentioned,then I guess it would be difficult for a trader to even make profits. I think forex is not a get rich quick business.

 

[budado]

I have tripled my funds in one week once in the last two years only. So theirs a potential that we can really make big income in forex. Just imagine if each week I can triple my trading capital. I'm sure I'm a millionaire by now. but sometimes earning big is more on luck.

 

[barood4money]

I have tripled my funds in one week once in the last two years only. So theirs a potential that we can really make big income in forex. Just imagine if each week I can triple my trading capital. I'm sure I'm a millionaire by now. but sometimes earning big is more on luck.

Well, i agree with you at some extend. It is not easy to earn huge profits always. It is not necessary that you can make triple of your amount every week. Some week you may earn more than that and some wee you may earn much less than that.

 

[Angelic]

No forex trading is not a get rich quick though someone can be able to earn some considerable amount of money but can not be that enough to be rich, it take years before someone can be rich from the help of forex trading.

 

[Decub]

I have tripled my funds in one week once in the last two years only. So theirs a potential that we can really make big income in forex. Just imagine if each week I can triple my trading capital. I'm sure I'm a millionaire by now. but sometimes earning big is more on luck.

That's a nice achievement and it doesn't come always you know. What if you had worked upon that strategy, I mean how you got the indicators that assisted you in making those analysis that gained you such profits, the form of analysis you used, you never can tell, history might repeat itself and you can develop it nut all the same, it is difficult.

 

[ryuken]

You can see that forex is not a quick rich making scheme type of the business. that said, there are not many people, who are trying to make business know that it would be possible to have making money there. those who make money from the forex are going to be more strategic there.

 

[Cutiekc]

Forex trading is only a get rich quick business to those who are already good traders and to those who are experts because they can make enormous amout of money just in short period of time but to the newbies they will have to spend more of the time learning and practising.

 

[tray]

Forex trading is never a get rich quick money making for one day if you step into the forex market with an intention to make fast money just be sure that you are going to fail as well here within a short period of time

 

[barood4money]

Well, it is true that forex trading is not being quick rich business. For that lots of dedication and knowledge is needed. If you enter into forex trading with intention of being rich in a day, then this place is not for you.

 

[hadg33]

Forex trading is never a get rich quick money making for one day if you step into the forex market with an intention to make fast money just be sure that you are going to fail as well here within a short period of time

All those traders that thought forex is a get rich quick business and jumped into trading with even practising well in the demo account and have good knowledge about forex,they have all jumped out of it cos they made a total loss in forex.

 

[barood4money]

Well, it is true that if you are entering at forex trading without any knowledge to earn money, then you have to definitely jump out from it by losing money.

 

[Decub]

Forex trading is only a get rich quick business to those who are already good traders and to those who are experts because they can make enormous amout of money just in short period of time but to the newbies they will have to spend more of the time learning and practising.

And once that factor or clause of those who are expert has come into it, I do not think it is longer a get rich quick business of course, it takes a lot of time to attain that point where one will be addressed as an expert trader which must have passed through a lot of Forex trial times.

 

[ryuken]

I don't think that forex is a good quick rich business because most of the time you have to see that those who are doing the trading with the regular time and money will understand that it would not be possible to make money that easily to be it a quick rich business.

 

[Bonyi]

Well, it is true that forex trading is not being quick rich business. For that lots of dedication and knowledge is needed. If you enter into forex trading with intention of being rich in a day, then this place is not for you.

I agree with you. You don't start forex as a get rich quick business. If someone wants a get rich quick business then it must be some form of illegal business. But for any legit business, you must work hard.

 

[Bonyi]

I don't think that forex is a good quick rich business because most of the time you have to see that those who are doing the trading with the regular time and money will understand that it would not be possible to make money that easily to be it a quick rich business.

I agree with you absolutely. To trade in forex requires hard work and patience. Initial it may look unrewarding but at the end of the day, you will see that it was worth it.

 

[barood4money]

I agree with you. You don't start forex as a get rich quick business. If someone wants a get rich quick business then it must be some form of illegal business. But for any legit business, you must work hard.

At forex trading and illegal business both contains risk. But at forex trading you can stay with your family comfortably and can earn quite a decent amount.

 

[Cutiekc]

And once that factor or clause of those who are expert has come into it, I do not think it is longer a get rich quick business of course, it takes a lot of time to attain that point where one will be addressed as an expert trader which must have passed through a lot of Forex trial times.

Yes you are actually right because those who are said to be the expert had all spent considerable amount of time on learning how to do the business and now eventually they are being able to do the business and made money much more faster, thats no get rich quick business as you've said.