can you really make money in forex?

[umuneke44]

Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader. But for the average retail trader, rather than being an easy road to riches, forex trading can be a rocky highway to enormous losses and potential penury.

 

[cashisking86]

Forex trading can lead to making money but focus on this element often blinds traders into thinking it is easy to do when the opposite is true. End of the day it is a skill that must be learned and developed. Prop firms can help with capital acquisition now so that's not so much of an issue if you can pass the challenges.

 

[chocourl]

Traders do make money online, but it takes a lot of work. If you do your work, be diligent enough to study the marketplace, and be patient with your profits, Forex trading can be a profitable .

 

[desofm]

You have to learn a lot and if you find them useful, use the right tools, to make it easier and better for you to trade.

Tools like indicators, journals, performance tracking, EAs often make the difference between losing and winning in the forex market.

I must say that you must NOT trade with real money until you have achieved consistency in demo accounts, and when you find that consistency, start trading with $100 or something and scale progressively to get your psychology right.

 

[Nerdesin]

Yes, I agree. Forex is tough. Easy to win, easier to lose. Psychology is a very important factor.

 

[fxbillionaire]

I agreed that forex is hard. However, one has to be patient to learn it.

 

[bobsponge]

if it is so hard why do so many of us try it? it must be possible...

 

[bobsponge]

i mean...people like that samuel guy seems to have found a way, and doing well, does anyone know if his students become and remain profitable?

 

[Citigrade]

Forex trading offers great opportunities to make money. If you possess required proficiency and skill set then you can definitely make good profit in the market. Though it takes time and hard work to achieve this level.

 

[bobsponge]

Forex trading offers great opportunities to make money. If you possess required proficiency and skill set then you can definitely make good profit in the market. Though it takes time and hard work to achieve this level.

thank you for replying, it gives me hope! thanks a lot

 

[bobsponge]

is it better to use an automated stratgey? And what chance do we have against the banks with algos and all that?

 

[dancom92]

Learning the correct patterns, and tools of course, but it takes time, as everything in life dude!

 

[Hipparchy]

It’s not a lie that traders make money in the forex market. But there is no guarantee if you will be able to make money. It’s all about the effort you put into the market rather than the goals you set. Hard work pays off in the market, not your desires.

 

[matsuyuki1999]

Not gonna lie. It is very very hard.
Looking back all my trades thinking if only I had taken the opposite direction I would have made some decent money.
I reckon brokers are the ones that never lose.

 

[Agynary]

Making money with forex is never going to be easy. It takes time for us to become consistently profitable as a trader. And still we are going to encounter losses once in a while. But we should not be discouraged with losses and chasing profits is not ideal for a beginner. Instead, we have to focus on becoming skilled as profitability is hard to attain without the relevant skills.

 

[Berserker]

Definitely, you can make good money based upon your knowledge and experiences. Forex trading is lucrative and if you can understand the market then you can make enormous money.

 

[HeavLeighGill]

Part of the excitement is that it can go either way. Traders can of course manage their risk so that it doesn't go so far south if it does, but you still never know for sure.

 

[Mucivorous]

Trading forex takes a lot of hard work and patience to be profitable into the foreigh exchange market. With proper discipline you can make good money.

 

[Siphonic]

There is no guarantee and when there is, it’s not genuine when it comes to forex trading. When the market is moving all the time, there is no way that you can get accurate with your market predictions. You will have to take a loss no matter how hard you try.

 

[Quibble]

If you know the reality of the forex market, you would know that not every trader is making money through trading. Most of them are just losing their money and finding ways to protect their capital. It’s not easy and you better don’t take the chance.