Can Forex trading Make Anyone Rich?

[Ivo Zetticci]

Forex trading has the potential to become rich. There are many to earn money from trading. But none can become rich overnight. There are also no shortcuts but learning trading. So, gain knowledge and practice in the demo account first. The demo account is free and can trade with virtual money. It is best for learning trading. But I learned trading from my broker Eurotrader educational resources.

 

[Kingsley]

Trading either offline or online involves some level of risk, now wonder it is called profit or loss account when we prepare the account to check the performance of a business concerns. We ought to know that when you are involved in a business you must do it with all diligence and must ensure that you do everything humanly possible to minimize your risk, but at the same time you must maximize your profit margins with care. When it comes to forex trading it is not a bed of roses, if anyone tells you it is an easy way to make money such a person is lying. There is nothing simple, easy about making money online or trading forex, infact I have seen a lot of people suddenly become poor trying to trade forex.

I traded it at the early stages when they first made the market open here in my country. And I lost about $50 two consecutive times and you can imagine with that means. So those really making it from forex are those with very huge capital and those that has excellent understanding of how the markets operates and how to manage their greed level to always set low lots size.

 

[Suba]

I often hear that people can make hundreds of millions of dollars in huge profits in just a short time, but I don't know how much they lose while trading forex. meaning it is very possible someone can get rich from forex trading. But in my opinion, for beginners, forex traders should not be used as the main source of livelihood. To be able to make a profit from forex trading consistently, of course we need expertise and experience which of course requires time and process. Here are people who have had success in forex trading including: George Soros, Andy Krieger, Bill Lipschutz, Edy Seykota, Joe Lewis, Paul Tudor Jones etc.

 

[LoukiaCharilaou]

Forex trading has the potential to become rich. There are many to earn money from trading. But none can become rich overnight. There are also no shortcuts but learning trading. So, gain knowledge and practice in the demo account first. The demo account is free and can trade with virtual money. It is best for learning trading. But I learned trading from my broker Eurotrader educational resources.

Hi. Thank you very much for your interesting and informative thread. I fully agree with everything you mention in your post. To be honest, I have heard and read so many things about Forex trading. It is believed to be a very profitable type of business. Of course, as you mention, it is wise to have some basic knowledge and practice before starting with Forex trading in order to be successful. I think that I will give it a try and I hope that it will work for me as well!

 

[glabella]

Yes,anyone with the right strategy and knowledge can earn more profits in the forex market.

 

[Sodiq]

The simple answer Is capital Yes, trading forex can make you a billionaire overnight and can as well make you lose billions within the same period of time if proper care is not taken. You should not see forex trading as a form of Get Rich Quick Scheme, rather as an investment.

Forex trading recquire a lot of dedication and time before seeing results. You just don't wake up overnight and expecting to be making it big in forex trading.

 

[Rookery]

Yes. It is possible to become rich with forex trading. However, that’s only possible if you have the required trading skills and mindset. Also, it won’t happen overnight. You need to be consistent and disciplined.

 

[Ivo Zetticci]

Excessive demand is always harmful for a trader and we see maximum of the traders daydream about trading rather understanding the harsh reality of the market. Traders firstly need to measure their worth of trading and they should develop their own way of trading, which is otherwise known as strategy. The narrow spread and high trading leverage provided by Eurotrader broker increases your return.

 

[quindene]

Just like any other trading, forex trading also requires skill, effort and knowledge about the market. The potential for profit is very high, but only if you have the required skills and market knowledge.

 

[waldgrave]

Yes, it is possible. With proper understanding about the market and using leverage helps many to make good fortune in trading. However, it is advised to be careful and keep risks under control.

 

[Ithedicious]

I agree with you . I also believe that people can be rich with forex trading but it is not a get-rich-quick scheme and that is what we needs to understand before we consider to make money with forex trading because for you to be able to trade with profit you must have some level of understanding of how to predict the volatile market.

I may also considered to make money with forex trading in the future , but I am yet to see someone that can really predict the forex market perfectly to a point of convincing me that he or she can be able to make some money for me to learn from .

I have seen so many people from South Africa on YouTube that are perfectly earning with forex but that is too far for me to consider. I just need someone within my environment that can really take me through on how to make money with Forex.

I know of so many people within my environment that really understand how to trade cryptocurrency and they're really making money with cryptocurrency .

If I do not have anyone to learn for it I will definitely go for crypto .

 

[eldavis]

Forex trading could make actually make you rich, and at the same time it could could also be your downfall. Depending. On your level of understanding and skills in forex trading. As at last year I came across some group of traders who called themselves wealth makers, these traders where making serious money just from forex trading, some where making hundreds of dollars on a weekly basis and some on a daily basis, though there where times they had some losses as well. The risk involved in forex trading is just too high, this is why most persons do not go into it.

 

[Jack Reacher]

If new traders wanna make money in real account, traders need to start with demo trading! It’s completely free! Till now Demo is the best way to learn Forex! Basically, new traders need to learn 1st before their investing! It’s absolutely impossible to make money here without proper trading knowledge!

 

[Mary Frederick]

Well, your thinking should not be in the stereotyped way like all common traders. This is as maximum Forex traders are losing from Forex at a stretch. If you follower their footstep, you will also go broken. So, be careful about Forex trading and think differently.

 

[LaneBall]

Yes, absolutely! Forex trading can make anyone rich but it should not be taken an easy path to success. Just like any other business, forex trading demands devotion, hard work and consistency. Also, it is always wise to familiarise yourself with the fundamental and technical concepts, trading glossary and financial instruments such as indicators and charts for reaping maximum profits.

 

[Archipelago]

Forex market can make you rich.Yes, it is very competitive, but if you are determined to master this market, you can be a forex millionaire in a very short time. The key is to educate yourself first and then get involved in this market. Learning and practising on a demo account is the way to go. It is a lot challenging and risky, but if you are passionate about it, the rewards are unbeatable!

 

[moonchild]

In as long as trading can make you rich but we shouldn't be preaching it like it's gonna happen as soon as we fund our account because it wouldn't most of the time is the opposite we will lose money over and over again.

As a trader it takes some ample time before you start making tangible money in trading, it's not as rosy as it is painted.

But It's really possible to get rich off it but you concern more with the process to G there because if you're chasing only events and abandon the process then after some times of hustling without seeing results you'll give up completely..

Forex deals with probabilities when you see an opportunity to enter a trade, you have to option either to win or to lose that trade.
As a beginner most of your trades will suck just don't worry and keep on going recognize the mistake and work on it.

It honestly took me some years before I really understood what I was doing on the charts because I lacked mentorship when I was starting out.

But nowadays I don't even trade I spend most of my time learning how to code because it's more compatible with me.

 

[Tactical]

No. it is a misconception and more of a folk tale that forex trading can make anyone rich. You will need amazing trading skills and a very good strategy to compete against the professional traders with years of experience in the forex market. Trading in forex is a very risky venture and people who enter the forex market with the dream of getting rich overnight will only exit with losses as greed is never the right emotion to have while trading. You need to perform logical calculations which require fundamental as well as technical knowledge. I won’t say it is impossible for a beginner to get rich by trading in forex but it will take a lot of time and effort on their part to reach this milestone.

 

[Lens1000]

Forex is one of the lucrative investment that you could find on the internet and there are so many people that are involved in forex and so many have become rich by a this venture, the only thing that is important for us is that you need to have a good knowledge around it . if not you will lose all your money and that is why most of the people regard forex as a high-risk investment. It is very correct that to forex is a high-risk investment because you could lose all your money if you do not know how to analyse the market sentiment and that is why the knowledge around the technical analysis is very important in this regard. you should be able to read the candlestick patterns and understand them very well if you want to pull successful trades in this kind of business. we have seen so many forex trader make six figures from this kind of investment and they're really making waves from it. this is actually one of the best ways to keep making money on the internet in a possible way but you will need to equip yourself with the knowledge around it.

 

[Syngenesis]

Yes, forex trading makes you rich if you have the right trading skills. But don’t think you can become rich overnight, it takes years and years to learn trading before making any profits.