Is forex trading a get rich quick business?

[Tirus]

If you think of forex trading as a get rich quick scheme then you are unlikely to be succesful in your trading. Forex requires time and patience in order to consistently make good profits. Its time to learn about forex, time to practice in a demo account, developing and altering your strategy, learn how to analyse and can experience in the process. This wont have happen overnight so it can never be a get rich quick scheme.

 

[budado]

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.

The opportunity is their its up to you to grab it. that is if you know how to grab it. I'm happy that I'm earning some how in forex trading. For three months now I'm earning 10 dollars a month on average. that's good amount compare to earning in ptp forums. Theirs only two ptp forums that I earn 10 dollars or more a month on average.

 

[valexer]

The opportunity is their its up to you to grab it. that is if you know how to grab it. I'm happy that I'm earning some how in forex trading. For three months now I'm earning 10 dollars a month on average. that's good amount compare to earning in ptp forums. Theirs only two ptp forums that I earn 10 dollars or more a month on average.

$10 a month is really a small amount but that good things is that you are still winning and not loosing money. As this title said is wrong because forex is not a get rich quick program and you stood as an example. You may be earning just $10 a month from trading as of now but if you develop your skills and you gain experience, you can easily raise your earnings in the near future.

 

[Tirus]

The fact that you are able to earn around $10 a month is proof enough that it is not a get rich quick business scheme. It required effort to learn and practice but yes you are right because with experience you can be able to earn quite well.

 

[budado]

$10 a month is really a small amount but that good things is that you are still winning and not loosing money. As this title said is wrong because forex is not a get rich quick program and you stood as an example. You may be earning just $10 a month from trading as of now but if you develop your skills and you gain experience, you can easily raise your earnings in the near future.

I'm not the author of this thread so my earnings does not reflect this thread title. One can post in here that he loses money in forex trading then will we chance the name also?
Or one will also post that he get rich in forex trading then does it mean the title of this thread is true?
My point is that each person has difference experience in forex trading. One can really hit the spot all the time and earn money while others just breakeven and worse keep on losing.

 

[monyitomon]

Yes, it will depend on the individual because perhaps bulastika is just on the advantage part that it is good to earn 10 dollars a month than to lose his capital because we need to protect our capital in here because when we lose our capital then we can't trade anymore, and you will need to deposit again especially if you just earning your capital in Forex Forums.

 

[Tirus]

The more capital you raise to trade gives you opportinities to earn a good bonus in return. It wouldnt be advisable to invest a large amount for a newbie trader because they dont have the experience or skills at this stage to make good returns. So a smaller amount would do well and they but they need to invest time to get some more experience to be succesful in their future trades.

 

[Syrine22]

Sincerely to me for every successful business there is always a loss incurred.To be successful in forex one must first lose and from the experience you get from your loss,you would now start understanding it well.

 

[Tirus]

Yes @syrine22, you are bound to encounter some losses as a trader and a good trader will use this as an opportunity to learn and become a better trader. This can only happen if you evaluate yourself as a trader after these losses and determine what went wrong and make improvements on them.

 

[riddick09]

Its the balance that we will always losses and wins in our trades. Its like positive and negative so it will not going to always one factor only but will also have the other counterpart. Our goal always is not to set quickly how to become rich but to make as much as possible our target profit or daily profit.

 

[Syrine22]

Yeah you are right Riddick.majority mostly want to get rich quickly doing business in general not minding that they have to lose atimes too.if guys have the mindset of going step by step in doing forex then the possibility of them succeding is high.

 

[pinoycity]

Well, I think, it would be rare to find someone who does not want to get rich quick in any investment program, whether online or outside of the internet. I guess, everyone dreams of hitting the jackpot immediately. But yes, this is a dangerous thinking as this might make a trader quite depressed.

 

[budado]

Well, I think, it would be rare to find someone who does not want to get rich quick in any investment program, whether online or outside of the internet. I guess, everyone dreams of hitting the jackpot immediately. But yes, this is a dangerous thinking as this might make a trader quite depressed.

Depress that he don't earn or depress that he is more poorer now that he loses money? One thing I'm sure right now. In forex trading we can all earn money if we only do our homework. But if we don't do our homework then we all going to loss money in here.

 

[valexer]

Depress that he don't earn or depress that he is more poorer now that he loses money? One thing I'm sure right now. In forex trading we can all earn money if we only do our homework. But if we don't do our homework then we all going to loss money in here.

Yes you are right. In forex, time in active trading is not the most important thing. I think what is more important are the times when we do are analysis and we prepare to place an order. I think that from that time, we are already drawing the path to a potential loss or win in the future trade. Planning is always important and if we don't plan our moves, it will be hard to win in forex trading.

 

[brokenblade]

Yeah, the best thing to do is look at the market and learn everything we can so that we can know when to trade and when to not trade. Of course, we go into Forex in order to earn money. If we take a good look at the market and understand it, we can limit our losses.

 

[indieover]

at first we might thing that it is just another quick way to get rich or earn. actually that is not the case. you would need to learn a lot before you can earn something on forex.

 

[monyitomon]

You need to practice a lot to learn a lot because if Forex trading is an easy business then why there are some people spending some months just to learn Forex? because it's not easy you must be well prepared before you start trading using a real trading account.

 

[budado]

at first we might thing that it is just another quick way to get rich or earn. actually that is not the case. you would need to learn a lot before you can earn something on forex.

Actually it is. Forex is a quick to rich online earning site. But in order to achieve it we are also good in forex trading. that's why its very important that we know what we are doing in forex trading before we even going to decide to start trading in real account. Because instead of earning you maybe end up losing lots of money in here if you don't know what you are doing.

 

[Rin0]

You need to practice a lot to learn a lot because if Forex trading is an easy business then why there are some people spending some months just to learn Forex? because it's not easy you must be well prepared before you start trading using a real trading account.

Not only a month.And a month i not definitely not enough for leaning and practice.The normal trader will take 1 year to learning and practice before they can make a constant profit from forex market.

 

[riddick09]

Yes, a month learn or demo trading isn't enough to learn how to perfect your strategy. Although, its better to just familiarize and learn how to use them properly even it does not give you all profits because there's no perfect strategy after all. So better to consider that we will still lose.