Can forex trading make you rich

[HOLA]

Can Forex Trading Make You Rich? While our gut reaction to this question may be a definite "no," we must be qualified in our answer. Forex trading may make you wealthy if you are a hedge fund with deep pockets or an exceptionally skilled currency trader, but for the average retail trader, rather than being an easy road to riches, forex trading can be a quick and rocky path to massive losses and potential poverty.
Forex is often seen as a search for quick profits. Statistics indicate that most ambitious forex traders fail, and some lose large sums of money. Leverage is a double-edged sword, where it can lead to huge profits but also to catastrophic losses. Counterparty risks, system failures, and sudden surges of volatility are challenges facing potential forex traders.
Unlike stocks and futures that are traded on exchanges, foreign currency pairs are traded over-the-counter without a central clearinghouse. The sudden move by the Swiss central bank caused losses of hundreds of millions of dollars for countless foreign currency traders, from individual small investors to large banks. The losses wiped out the trading accounts of at least three retail brokerage firms and one, the largest retail foreign currency brokerage firm in the United States, was on the verge of bankruptcy.
Unforeseen events are not the only risk facing forex traders. Here are seven other reasons why the odds are stacked against the retail trader who wants to get rich trading forex.

 

[FXOchartist]

Don't think forex will make you rich just overnight, because forex trading is risky business, this is included in the red product in financial market, where investor could losing half or all invesment.

However, forex can make you rich when already understand how to make money from this big industry. Every traders has own skill in trading, it is make sense if different traders has different result, we can having the same profession but the result could be different.

If we want to survive in forex for long term, don't think only about rich from forex, but think how to manage money to make money, how to making good entries and exit to catch a profit. How to minimize the loss and risk in trading, experience will gives us valuable lesson that not obtained from a mentor.

I trade in forex market maybe more than nine years using FXOpen, although not yet be expert, but still survive in this industry till now.

 

[Mary Frederick]

Yes, Forex can make you rich if you trade Forex according to good market forecast. Fundamental analysis is a big area of analysis, which serves traders with an idea over the whole market. With Eurotrader broker, I have all technical tools with a reliable trading platform. The broker hardly put any restrictions on using strategies.

 

[marym]

today’s topic about whether Forex can make a person rich. I see that this is very difficult because Forex is a risky business and the percentage of losers in it is much greater than the winners, and that is why Forex was It is a field of work that is suitable to be a source of additional income, no more, that is, it is a means of helping to improve income, and accordingly it requires that the person be wealthy from the ground up in order to be able to create a portfolio for trading with good capital that guarantees him a good profit rate and with minimal risk. As for relying on
forex Completely to be a major source of income or a source of wealth. This is completely undesirable, and its consequences are often very negative, and may lead to a person leaving the field of trading as a result of the losses that will befall him.