Forex Forex trading is not a get-rich-quick scheme

[Sotherefore]

Forex is a volatile market and because of its high volatility there is a high possibility of losing if proper care is not taken, but with the required strategy and understanding a person can be able to make money with forex trading not minding the location since location does not play important factors in the success of trading forex..

In as much as knowledge and understanding is required to trade the forex market effectly , you will not be able to get all this knowledge on your own but will require discipline and willingness to learn it . There are different ways you can learn to understand how to predict the volatile market .

I have come across different people who came into the forex market for the main purpose of making quick money without having a professional understanding of how to trade the markets confidently , this always result in loss of money because when a trader is so eager to make money without an understanding of how the system really work the result is always likely to be a lost..

Forex trading is never a get rich quick scheme to those who believe this way , if you are coming into the forex market to make quick profits then the possibility of losing will be very high, every forex trader or yet to be trader should seek knowledge and understanding first before thinking of making profit in this area of online business.

 

[sincerem]

What you said is very ideal my dear friend, anyone having such kind of mentality that forex market is a get rich quick scheme simply want to regret within short period of time. Because, forex market is highly risky, only the experience gets something better via forex trading. Because, they do the needful, learn, study and analyse the market. This three fundamentals shouldn't escape our memory, in order to utilize our time we'll via direct trading and make profit from it.

 

[Sotherefore]

What you said is very ideal my dear friend, anyone having such kind of mentality that forex market is a get rich quick scheme simply want to regret within short period of time. Because, forex market is highly risky, only the experience gets something better via forex trading. Because, they do the needful, learn, study and analyse the market. This three fundamentals shouldn't escape our memory, in order to utilize our time we'll via direct trading and make profit from it.

Yes that is just the problem, me personally I am even afraid of forex because of the volatility , sometimes I even prefer to engage in crypto trading , some people who are interested to trade forex do not see the need to learn it but they would just went ahead to trade on their own without any proper understanding of the risk, and
they tend to lose so much of their money ,this might even make them to start believing that forex trading is a scam.

Based on my research the risks of losing in forex trading is even more compared to cryptocurrency and people who are interested to trade forex needs to really understand the risks involved in trading it before they make an attempt to commit their money in it.

I also believe the reason why a lot of people don't really take the learning process seriously is because of people who are guiding them , a lot of expert makes this trading of a thing to look as if it is something a person can just engage into without even the needs to learn about it, maybe they are trying to say this to encourage the newbie to engage in forex trading , but this encouragement
alone is ausing a lot of trouble because this will make them to start believing that it is something they can just engage into without having to learn about it which is not true.

 

[eldavis]

Anyone that goes into the forex market with the mindset that forex trading is a get rich quick scheme, then they are in for a big surprise. I once had this same mindset, I saw how does around me where easily making cool cash and even my sister who joined some days back was able to trade out a very reasonable amount, I rushed in without any form of knowledge or idea, I ended up blowing my account to notting.

 

[sincerem]

Yes that is just the problem, me personally I am even afraid of forex because of the volatility , sometimes I even prefer to engage in crypto trading , some people who are interested to trade forex do not see the need to learn it but they would just went ahead to trade on their own without any proper understanding of the risk, and
they tend to lose so much of their money ,this might even make them to start believing that forex trading is a scam.

Based on my research the risks of losing in forex trading is even more compared to cryptocurrency and people who are interested to trade forex needs to really understand the risks involved in trading it before they make an attempt to commit their money in it.

I also believe the reason why a lot of people don't really take the learning process seriously is because of people who are guiding them , a lot of expert makes this trading of a thing to look as if it is something a person can just engage into without even the needs to learn about it, maybe they are trying to say this to encourage the newbie to engage in forex trading , but this encouragement
alone is ausing a lot of trouble because this will make them to start believing that it is something they can just engage into without having to learn about it which is not true.

Forex trading isn't easy, that's why experience is needed. We shouldn't follow the words of some experts, at times they are deceiving. They encourage newbies to get along into forex trading, just to spike the price of a particular currency pair, which is a profit for them whereas the newbies lose out. Because, they can't analyse the market trends, know when it is right to invest and when it isn't, spot the right currency pair which is a potential profit kind. All this things should be put into practice first for a newbie, before he or she thinks to go into forex trading full-time, because the risk is beyond control when one trade as inexperienced.

 

[Neuroid]

Yes, that’s true. Forex trading is not a get rich quick scheme but you can get rich if you stay consistent at putting effort and learning from your mistakes. It would take some time for you to get the expected results which mean staying patient is another requisite of forex trading.

 

[Sotherefore]

Forex trading isn't easy, that's why experience is needed. We shouldn't follow the words of some experts, at times they are deceiving. They encourage newbies to get along into forex trading, just to spike the price of a particular currency pair, which is a profit for them whereas the newbies lose out. Because, they can't analyse the market trends, know when it is right to invest and when it isn't, spot the right currency pair which is a potential profit kind. All this things should be put into practice first for a newbie, before he or she thinks to go into forex trading full-time, because the risk is beyond control when one trade as inexperienced.

To me I don't know why people are still interested to learn about forex trading because I just believe the market is extremely volatile to my liking and the whole setting on forex trading to me is what I do not like even though that was the first volatile market I came across.

But even with that ever since I have the idea of cryptocurrency i considered it to be one of the best online earning opportunities for those that are really interested to trade the volatile market and if you can have a good understanding of cryptocurrency trading the possibility of making money will be very high.

If I am really interested to learn about trading of volatile market which I will soon consider doing , my main concentration will be only in cryptocurrency because that is just the only way I can be able to make money from , I do not like forex for any reason because is not my interest

I know there are some people that are making money with forex trading but all these things depends on interest , probably those who are making money with forex trading have the natural interest to engage in it but for me the possibility and the natural ability to engage in forex trading to a point of making money is not there.

 

[sincerem]

To me I don't know why people are still interested to learn about forex trading because I just believe the market is extremely volatile to my liking and the whole setting on forex trading to me is what I do not like even though that was the first volatile market I came across.

But even with that ever since I have the idea of cryptocurrency i considered it to be one of the best online earning opportunities for those that are really interested to trade the volatile market and if you can have a good understanding of cryptocurrency trading the possibility of making money will be very high.

If I am really interested to learn about trading of volatile market which I will soon consider doing , my main concentration will be only in cryptocurrency because that is just the only way I can be able to make money from , I do not like forex for any reason because is not my interest

I know there are some people that are making money with forex trading but all these things depends on interest , probably those who are making money with forex trading have the natural interest to engage in it but for me the possibility and the natural ability to engage in forex trading to a point of making money is not there.

Everyone got choice man, forex trading is still profitable for some users here online. I wouldn't criticize forex trading because it isn't my thing. Who knows, in the future I can still consider it especially when I am capital extensive, like, having much more money to risk. Forex has made lots of people rich, you can browse about on Google or any other search engine platform. My mother's friend son, is progressing with forex trading, renting a bed room flat apartment, and have purchased a land in the urban area, and building on it. He also trades for his mom, which has made his mom's offline business to be on.tne growth. Their are much more to forex trading than we know. You can only succeed there when you also put your mind on it.

 

[Finger Geek]

Forex trading is never a get rich quick scheme to those who believe this way , if you are coming into the forex market to make quick profits then the possibility of losing will be very high

I do believe what you just said. Forex trading is a not a get rich quick scheme. But with patient, one can get rich trading forex. I have seen many trader that started with small capital and they are now rich trading forex. They did not just acquired the riches in few days or weeks but in months and years.
For any one that have been seeing other traders that earn big trading forex and think that immediately they start trading forex is when will start making it big. Then they should know that they will lose all there money in days or few weeks of trading. I say this out of what I have read about some amateur traders and my experience.
If monthly I can be earning 30% trading forex monthly. Then if I start with $100. In 1 year I will have $2,330 in returns without spending from my profit. For another year, I will earn back $54,260. That is in two years, I will make $54,260 with just $100.
This how some traders became rich trading forex. But there are some people that wants to make $54,260 with $100 in just 2 months but will eventually lose there money. Patient is the key to all riches.

 

[Sotherefore]

I do believe what you just said. Forex trading is a not a get rich quick scheme. But with patient, one can get rich trading forex. I have seen many trader that started with small capital and they are now rich trading forex. They did not just acquired the riches in few days or weeks but in months and years.
For any one that have been seeing other traders that earn big trading forex and think that immediately they start trading forex is when will start making it big. Then they should know that they will lose all there money in days or few weeks of trading. I say this out of what I have read about some amateur traders and my experience.
If monthly I can be earning 30% trading forex monthly. Then if I start with $100. In 1 year I will have $2,330 in returns without spending from my profit. For another year, I will earn back $54,260. That is in two years, I will make $54,260 with just $100.
This how some traders became rich trading forex. But there are some people that wants to make $54,260 with $100 in just 2 months but will eventually lose there money. Patient is the key to all riches.

First of all you should have understand the meaning of a get-rich-quick scheme first before you said you do not believe what I am saying , get-rich-quick scheme means getting a high return on investment within a short period of time or making a large amount of money within a short period of time .

See if you're going into forex trading with this mindset of making a large amount of money within a short period of time the possibility of losing your money will be very high and there is nothing that can stop it except you have a better understanding of what you are doing.

The one you just analysed is just a gradual process and it's not something that a person can be able to make profit within a short period of time , so I don't really understand what you are trying to explain because what you are trying to say is exactly what I've just explained on my post .

it is not a get-rich-quick scheme , you won't be able to make money quickly to solve your financial name but it is a gradual process , that's what I was trying to say on my post

 

[Sotherefore]

Everyone got choice man, forex trading is still profitable for some users here online. I wouldn't criticize forex trading because it isn't my thing. Who knows, in the future I can still consider it especially when I am capital extensive, like, having much more money to risk. Forex has made lots of people rich, you can browse about on Google or any other search engine platform. My mother's friend son, is progressing with forex trading, renting a bed room flat apartment, and have purchased a land in the urban area, and building on it. He also trades for his mom, which has made his mom's offline business to be on.tne growth. Their are much more to forex trading than we know. You can only succeed there when you also put your mind on it.

Yes i believe that forex trading is only meant for some people but for me I think the natural interest to trade forex is not there but I rather considered to trade or looks for another opportunity to make money like trading of cryptocurrency .

I always believe that trading of cryptocurrency is even the most popular one over here if you are able to compare it with forex trading, since you said you know someone that is really progressing with forex trading then that's nice because I always believe that forex trading is no more popular that is why I don't see a lot of people doing it compared to cryptocurrency trading and investing.

I also believes that if people can have a better understanding of forex and how to predict its market perfectly then the person can really be good in predicting the movement of cryptocurrency since cryptocurrency to me is somehow flexible for people to predict.

Wow , so does it really mean that people can depend on this as the only source of income , that means if the person you know is really making profit constantly with forex trading then other people like me can still learn and be in his position. Wow.

 

[sincerem]

Yes i believe that forex trading is only meant for some people but for me I think the natural interest to trade forex is not there but I rather considered to trade or looks for another opportunity to make money like trading of cryptocurrency .

I always believe that trading of cryptocurrency is even the most popular one over here if you are able to compare it with forex trading, since you said you know someone that is really progressing with forex trading then that's nice because I always believe that forex trading is no more popular that is why I don't see a lot of people doing it compared to cryptocurrency trading and investing.

I also believes that if people can have a better understanding of forex and how to predict its market perfectly then the person can really be good in predicting the movement of cryptocurrency since cryptocurrency to me is somehow flexible for people to predict.

Wow , so does it really mean that people can depend on this as the only source of income , that means if the person you know is really making profit constantly with forex trading then other people like me can still learn and be in his position. Wow.

xD 😂, why wouldn't you be on the position of making money like him when you exact more hard work to learn first than focusing on making it fast out of forex trading. He's now an expert trader, my mom tried in the past to connect my senior brothers to em in order for em to carry them along, but those my brothers aren't serious when it comes to online earnings. During that time, I was still having doubt around crypto, I didn't have that time to engage in anything investment, I thought all is scam. I realized that forex is real recently, by the time I went to my mom to let him know I am very interested to learn, the time have passed me by. The guy is simply an expert, he doesn't even have time for himself talk more of teaching someone. His mom said it to my mom, and I got so infuriated hearing such saga, because I was keen then to learn forex and become an expert like him. Those kind of people are simply earning real high with forex trading, their life is there, they make better ends meet trading forex.

 

[Sotherefore]

xD 😂, why wouldn't you be on the position of making money like him when you exact more hard work to learn first than focusing on making it fast out of forex trading. He's now an expert trader, my mom tried in the past to connect my senior brothers to em in order for em to carry them along, but those my brothers aren't serious when it comes to online earnings. During that time, I was still having doubt around crypto, I didn't have that time to engage in anything investment, I thought all is scam. I realized that forex is real recently, by the time I went to my mom to let him know I am very interested to learn, the time have passed me by. The guy is simply an expert, he doesn't even have time for himself talk more of teaching someone. His mom said it to my mom, and I got so infuriated hearing such saga, because I was keen then to learn forex and become an expert like him. Those kind of people are simply earning real high with forex trading, their life is there, they make better ends meet trading forex.

Well if the person you are really talking about does not have time to take other people on the training on how to become an expert also as you said then obviously this shows that the person is really making a lot of money from his trading and as a result of this the person does not have time.

What I have come to understand is that most people who are making a lot of money on the internet won't really have time to train other people because they just consider that time as a waste whereas they could have used that time to make a lot of money on the internet as they used to do.

That is why I am always so careful about some people who have been messaging me on WhatsApp asking that they will help me to make almost 10,000 naira on daily basis with affiliate marketing and some stuff like that.

This always make me to wonder that if these people are really making money as they said they wouldn't really have time to be coming to people's private DM and be messaging people about a particular business idea they have been using to make 10,000naira or even more on daily basics

 

[sincerem]

Well if the person you are really talking about does not have time to take other people on the training on how to become an expert also as you said then obviously this shows that the person is really making a lot of money from his trading and as a result of this the person does not have time.

What I have come to understand is that most people who are making a lot of money on the internet won't really have time to train other people because they just consider that time as a waste whereas they could have used that time to make a lot of money on the internet as they used to do.

That is why I am always so careful about some people who have been messaging me on WhatsApp asking that they will help me to make almost 10,000 naira on daily basis with affiliate marketing and some stuff like that.

This always make me to wonder that if these people are really making money as they said they wouldn't really have time to be coming to people's private DM and be messaging people about a particular business idea they have been using to make 10,000naira or even more on daily basics

Bro, you're very smart indeed, and your experience how online operate wouldn't make you fall victim of a scam. Those who are going about trying to lure users subscribing to their channel or signal group or affiliate class, simply wants to extort money from you and not teaching you the needful to make you that N10,000 ($9) which they said to you. Those who are making real money online wouldn't waste their precious money making time to tell you such nonsense. They're concentrated enough to make it big, if I am in their shoes I wouldn't have such time. When I am teaching anyone legitimate means of earning money I wouldn't take a penny from him or her to teach them what they should know. I've gotten some experience online, I wouldn't fall for such tricks, their are many place to learn on your own, practice from little and become an expert of your own. Every information that teaches you a worthwhile skill, is documented online, you simply don't have to pay anyone to learn.

 

[moonchild]

Nice topic, I think I've written about this sometimes back, Forex is very hard, I mean really hard, it will take any serious trader decades to gain mastery, but people nowadays think they can make it overnight with it, I used to be in that shoes.

In Nigeria today, we have new brokers everywhere trying to lure average Joe's into opening an account, a typical example of this is OctaFx, they have paid influencers working for them and what's doing the damage is, the way they portray it, as a simple way of earning.

I've once had a mentor that told me if I want to make money with forex I should fund my account with 100k$ and aim for 10% yearly, that's just 10k$, but our fellow countrymen want to use 10$ account to make 10000$, we really need to sensitize people on what forex really is

 

[Sotherefore]

Bro, you're very smart indeed, and your experience how online operate wouldn't make you fall victim of a scam. Those who are going about trying to lure users subscribing to their channel or signal group or affiliate class, simply wants to extort money from you and not teaching you the needful to make you that N10,000 ($9) which they said to you. Those who are making real money online wouldn't waste their precious money making time to tell you such nonsense. They're concentrated enough to make it big, if I am in their shoes I wouldn't have such time. When I am teaching anyone legitimate means of earning money I wouldn't take a penny from him or her to teach them what they should know. I've gotten some experience online, I wouldn't fall for such tricks, their are many place to learn on your own, practice from little and become an expert of your own. Every information that teaches you a worthwhile skill, is documented online, you simply don't have to pay anyone to learn.

Generally we should just be careful because it is not the best for a whole us to fall a victim to such people in our life , those are cheaps scam and it is not expected of us to fall a victim to such , that will be ridiculous .

Personally I do not really have time for them that is why in any online business I am interested to do I know an expert I am going to learn the business from because they will be able to impact the right knowledge and understanding of what I need to succeed in the business,

I am always very much sceptical and I will choose to run away from people who keep on advertising the type of online business they are doing for people to join , such people are not likely to make profit as they claim to .

Sometimes the best way for you to learn any type of online business you are interested to do is to learn it from people from People who does not post constant advertisement trying to Lure in people with cheap payment fee, Those who do not post advertisement are really the type of people that are making a lot of money from the online space. Omo we just have to be careful lest we fall into Their trick.

 

[Thanosis]

There is no way one could get rich quick in forex trading other than with real good luck where a trader could get big profit from every trade. One has to go through the whole learning phase, practising and trading while losing many times. After losing trades for a long time, a trader can expect to actually understand the forex market and gradually become profitable and rich.

 

[Finger Geek]

First of all you should have understand the meaning of a get-rich-quick scheme first before you said you do not believe what I am saying

It is like you are the one misunderstanding me. I said you are right and I believe what you said. "I do believe" means that I believe.
My brother, I believe you. That is why I went further to say that with patient. One can be rich with forex trading. And I made a simple analysis, that if someone gains 30% monthly. Then with $100 for a year, he will earn back $2330 without touching his profits.

 

[sincerem]

Generally we should just be careful because it is not the best for a whole us to fall a victim to such people in our life , those are cheaps scam and it is not expected of us to fall a victim to such , that will be ridiculous .

Personally I do not really have time for them that is why in any online business I am interested to do I know an expert I am going to learn the business from because they will be able to impact the right knowledge and understanding of what I need to succeed in the business,

I am always very much sceptical and I will choose to run away from people who keep on advertising the type of online business they are doing for people to join , such people are not likely to make profit as they claim to .

Sometimes the best way for you to learn any type of online business you are interested to do is to learn it from people from People who does not post constant advertisement trying to Lure in people with cheap payment fee, Those who do not post advertisement are really the type of people that are making a lot of money from the online space. Omo we just have to be careful lest we fall into Their trick.

Exactly man, any one who keeps advertising to you to join, and never allowed you to make a choice for yourself is simply deceiving. Someone like that, was doing it via our own WhatsApp group, trying to lure people buying a forex robot, claiming, it is profitable investment. If it is profitable as he claimed, why didn't he focus there and keep his mouth shut. People would see changes from him and seek for his help, rather than him coming to the people trying to lure them. It is better for people to come to you for help, such a way, you can even make money from them, by giving them the strategy that works for you. I wouldn't meet people in my life trying to force them into teaching them what's making me constant income. Because, I wouldn't have such kind of time. When I am into money making, I am serious with myself, and wouldn't need distraction, any one who wants to learn will always contact me and not me contacting him or her. That's to say, any one who meets you for a skill training is likely in to deceive. We've passed such kind of tricks online, if I really need to learn a new skill, I'll definitely move over to udemy, hire a professional and get started with a skill acquisition of my choice.

 

[HeavLeighGill]

I think a lot of new traders start with unrealistic expectations and assume that it takes little effort to make it as a trader. We can probably blame forex gurus for a lot of that, or maybe they hear a story about a trader that made it big and feel inspired by that. If it was that easy to get rich, everyone would just quit their jobs to become traders. On the bright side, hard work and effort can go a long way.