Can you get rich by trading forex?

[chris12300]

of course. but it's very difficult , need practice and mental psychology +++

 

[Hercule Butler]

Slowly? Yes. Overnight? No. Forex is not a scheme, it is a financial market where certain risks are involved, some strategies are involved, and a lot more. If you practice and implement, it can make you rich in the long run.

 

[jumbodave747]

I'm making money using a proprietary system so it can be done.

 

[contextabcd]

of course. but it's very difficult , need practice and mental psychology +++

To manage mental psychology is a challenge

 

[Xie Yuanjun]

Yes, you certainly can. Nothing is impossible in this world, but it isn't as simple as it appears, and it isn't a get-rich-quick scheme. You'll have to study a lot. There are several free internet resources for this, such as Babypips. You must work as hard as you study and you will achieve your goal one day.

 

[Wordplay]

Yes you can. There’s nothing impossible in this world but it’s not that easy as it seems and definitely not a get rich-quick-scheme. You’ve got to learn a lot and you also need a trading strategy with proper risk-reward ratio. Trading is a unique experience: It takes discipline, patience, and passion for the markets. If you don’t have those qualities and are just chasing the quick money, I bet you won’t make any money on the market.

 

[Rheometer]

All those beginner fellows need to understand this. They often forget about the requirements to trade. They start trading without considering what is required, and they lose. In-depth knowledge and ample practice is paramount to trade successfully.

 

[Hash36]

Hi All, I think that it is possible to make money forex trading and even get rich but it would take a lot of time and consistency and risk management to get a large enough account to make a substantial income. Maybe looking at trading on FTMO once you pass the challenge may assist in making a significant income down the road, but the restrictions on the challenges are quite tight.

 

[Plethora]

Forex is one of the most profitable financial areas. But forex is an arduous journey marked by great labour and effort. Only those who have everything sharply and neatly kept in the toolbox go ahead and become successful.

 

[Hootenany]

Yes, you can. But do not dream about riches and approach forex trading.
Realise that the forex market is a very risky market and one will have to go through a lot of losses, and can even blow their account before becoming a consistently profitable trader.
My advice to you is to be realistic and focus on improving your trading skills, not on riches.

 

[Subfocal]

You can, but only if you trade forex profitably and consistently for years. In order to trade profitably, you need to master analysis skills of the market, market prediction, and risk management which accounts for 50% of the profits, because without proper risk management you can lose more than you make. And for consistency, you need to be disciplined which can be obtained through development of trading psychology.

 

[Talisman]

If you keep sticking to the plan you started with and maintain constant discipline, profit won't seem so far fetched. Put in hard work and time to get better at bringing in profit, you will make money. I don’t know about getting rich, but a decent amount of profit is possible, over time.

 

[Marlhyk]

Who will teach this hedge fund strategy, it seems so profitable

 

[Hipparchy]

Yes, it is possible to get rich by trading forex. However, getting there requires a lot of effort and dedication. Avoid trading with unrealistic expectations. You'll be okay if you trade with a sound strategy and implement solid risk management. Keep an eye out for your errors and accept lessons from them, as experience is the finest teacher. After you get the hang of it, it's a great opportunity to make some excellent income.

 

[Monopial]

You certainly can. There is nothing impossible in this world, but it is not as simple as it appears, and it is not a get rich quick scam. You must learn a great deal. Forex trading is extremely difficult, and making money from it will require a lot of hard effort and patience. I lost a lot of money when I first started trading, but I never gave up. I went on to learn from the loss and, at the end of the day, I covered some of it. So it is possible to generate a profit provided you keep the goal in mind and keep moving forward.

 

[Spectrograph]

If you understand the market conditions and know how to time your trade, you will make good money. But eventually, it takes time so learn from your mistakes and practise.

 

[Tomfoolery]

Yes, you can get rich by trading forex. But it requires years of hard work, effort, patience, learning, and expertise. If you think you can put in the hard work, then nobody can stop you from becoming a successful forex trader.

 

[Chatterbox]

A forex trader should not be chasing profits. Instead they should focus on developing their skills which will make them successful in the end. People who became rich with forex trading are those who gained professional level knowledge and skills with experience in the forex market. So we should do the same and get better at trading with time.

 

[HeavLeighGill]

Technically yes, it's just that it doesn't become the case for a lot of people. That's the downside, but if you never even try you'll never know.

 

[qanonos]

Sharing this indicator for everyone. So far so good