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Can forex trading make you rich ?
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Klem

Member Since Nov 21, 2017  20 posts Klement Horacek (Klem) Apr 16 2018 at 09:52
mlawson71 posted:
Very few athletes - out of millions of athletes - become Olympic champions. If the success ratio among traders was that small there would be no point to trading, I think.


Sport is about hard training and insistence.
Do you think trading success depends on the trader's efforts and hard training?
Forex = gambling in some way.

Find the Holy Grail of Trade
mmltd

Member Since Aug 04, 2017  31 posts Money Management (mmltd) Apr 18 2018 at 06:46
Klem posted:
Forex = gambling in some way.


No more than any other business. Even living is gambling...don't shower today, you might fall, hit your head and die.

TiffanyK

Member Since Feb 12, 2016  427 posts Tiffany (TiffanyK) Apr 18 2018 at 11:03
togr posted:
For me Forex allows me to become independent.
No need to daily job but still a lot to do.
Research, development, programming, evaluation, etc...


If it makes your lifestyle better, and since you obviously like to trade - you did a great job then :)

Accept the loss as experience
BaldoN

Member Since Feb 12, 2016  522 posts Baldo (BaldoN) Apr 18 2018 at 15:25
There are many 'if's' here ... and yes, but not so fast or quick :)

togr

Member Since Feb 22, 2011  4831 posts vontogr (togr) Apr 18 2018 at 19:53
TiffanyK posted:
togr posted:
For me Forex allows me to become independent.
No need to daily job but still a lot to do.
Research, development, programming, evaluation, etc...


If it makes your lifestyle better, and since you obviously like to trade - you did a great job then :)


Thanks a lot :)
It allows me to work anywhere in the world, at any time I wish. Without reporting to any boss.

Adribaasmet

Member Since Aug 27, 2017  859 posts Adribaasmet Apr 18 2018 at 19:57
TiffanyK posted:
togr posted:
For me Forex allows me to become independent.
No need to daily job but still a lot to do.
Research, development, programming, evaluation, etc...


If it makes your lifestyle better, and since you obviously like to trade - you did a great job then :)


I think, it’s like dreams come true (for all traders).

NoahMartin

Member Since Apr 18, 2018  17 posts NoahMartin Apr 19 2018 at 07:39
Generally the answer is big NO.
Only rich in knowledge, effort, dedication, passion in forex trading can make you rich.

AniLorak

Member Since Apr 18, 2017  883 posts AniLorak Apr 19 2018 at 13:54
NoahMartin posted:
Generally the answer is big NO.
Only rich in knowledge, effort, dedication, passion in forex trading can make you rich.


I agree with your opinion, there have only 10% successful traders! So, Forex is not any easy way of money making, never & ever.

mlawson71

Member Since Dec 11, 2015  1487 posts mlawson71 Apr 19 2018 at 19:30
NoahMartin posted:
Generally the answer is big NO.
Only rich in knowledge, effort, dedication, passion in forex trading can make you rich.


The alternative is to be a executive at a big broker, that can also make you rich. :D

BluePanther

Member Since Jan 25, 2010  1343 posts Matt (BluePanther) Apr 19 2018 at 20:09 (edited Apr 19 2018 at 20:36 )
tranle447 posted:
That is a very interesting question .

https://www.investopedia.com/articles/forex/073115/can-forex-trading-make-you-rich.asp


The first post of this thread has the answer: '...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.'

Personally, since 2008 forex trading has led me to penury: Every cent I could have 'saved' I have lost. You need to be mentally prepared to face such a consequence if you want to survive; you need to have a solid income from elsewhere if you want to keep trying.

Foreign Exchange and CFD trading are high risk and not suitable for everyone. You should carefully consider your investment objectives, level of experience and risk appetite before making a decision to trade. Most importantly, do not invest money you cannot afford to lose.





'181:1.7 (1954.4) Jesus gives peace to his fellow doers of the will of God but not on the order of the joys and satisfactions of this material world. Unbelieving materialists and fatalists can hope to enjoy only two kinds of peace and soul comfort: Either they must be stoics, with steadfast resolution determined to face the inevitable and to endure the worst; or they must be optimists, ever indulging that hope which springs eternal in the human breast, vainly longing for a peace which never really comes.'

https://www.urantia.org/urantia-book-standardized/paper-181-final-admonitions-and-warnings?term=stoics#search-jump-result-0
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