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Can forex trading make you rich ?
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Look009

Member Since Apr 15, 2014  224 posts Alex (Look009) Aug 19 2015 at 12:55
I would add that human psycho is the main obstacle to make money on Forex. Imagine you have access to very dangerous weapon and can not control himself well. You can get PhDs in all sciences and be genius in technical analysis and economics and still loose everything. Until your uncontrolled human mind has easy access to 'Sell' and 'Buy' - your are in constant danger. The guys who who work for institutional funds are in more favourable position - they got angry bosses who can kick their asses if they are not in control of DD or Risk parameters ! That's is my opinion.

The market does not beat them. They beat themselves, because though they have brains they cannot sit tight (Jesse Livermore)
CrazyTrader

Member Since Nov 21, 2011  1706 posts CrazyTraderfx (CrazyTrader) Aug 19 2015 at 13:19
Soldier 2 is done

Soldier 3 is ready to start.

You love my free signals... Like me on fb
Lagurteng

Member Since Sep 02, 2015  10 posts Ognen (Lagurteng) Sep 10 2015 at 06:12
I'd like to leave my own opinion. I believe that it actually can make you rich, but before you come to it, you will have to suffer losses during considerable period of time. it's a long way of learning, trying, and studying from losses. Correct me if I'm wrong, but I see it this way.

Real defeat comes when you give up
arigoldman

Member Since Oct 02, 2014  854 posts Ari Goldman (arigoldman) Sep 10 2015 at 14:14
Lagurteng posted:
I'd like to leave my own opinion. I believe that it actually can make you rich, but before you come to it, you will have to suffer losses during considerable period of time. it's a long way of learning, trying, and studying from losses. Correct me if I'm wrong, but I see it this way.


Agreed. Of course it can, everything can make you rich if you put in the hard work. Cause and effect, guys!

Positivity
peter977

Member Since Mar 29, 2011  25 posts peter977 Sep 11 2015 at 08:46 (edited Sep 11 2015 at 08:49 )
I will tell you not my opinion but my personal experience.
It will took a lot of backtesting... I personaly backtested more than 50 different strategies in 10 year terms, I mean you open chart 10 years ago and start backtesting until you get to actual date.
It will took a lot of losses... a lost more than 50 000 €, yeah I earned them back, but it tooks years!
It will took a lot of changes in your mind, you will need to became a different person. Strictly follow your own rulles and never act like you are a winner. You will never win against markets, you can only participate on the trend.
It will took a lot of downfalls, if you invest money that are not yours, you will go to the bottom. Trading is one of the hardest types of business in the world, you will not succeed if you will not working very hard.
It will took a lot of time to educate your self, to try different types of strategies, to backtest them
It is really a long way. Nothing will be easy, you will try a lot of scammers that want your money. I´m talking about brokers, signal providers, forex gurus, forex copied systems. Scam is everywhere don´t be blind.

I trade only naked charts simple breakouts, triangles, S/R zones on daily charts. If you will find something that is working for you, this is just start. You can not stop in education of your self. Nothing works perfectly whole time. There are plenty of strategies, that works only one year maybe less. If you will find something that works, someone on the other side will try to get your stops. That´s the main reason why you enter the trend, then the price hits your SL and get in your favour way....

And I want to apologize for my english

“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves”
togr

Member Since Feb 22, 2011  3890 posts vontogr (togr) Sep 11 2015 at 11:04
tranle447 posted:
That is a very interesting question .

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



Forex trading can make you rich.
However too many people lack discipline to succeed so 95% wont make it.

I like what I trade, I trade what I like
kayz08

Member Since Jul 13, 2015  32 posts kayz (kayz08) Sep 11 2015 at 12:50
Yes forex can make you very rich in my opinion, I remember a time I turned 500 in 24k. Went down to 400 then back to 3k then lost all. It was a mix of bad luck and lack of self control, but mostly lack of self control.

I don't owe you pip, You don't owe me pip. Lets help each other.
Nasir123

Member Since Sep 10, 2015  1 posts Nasir123 Sep 11 2015 at 12:51
Is it reall happen.

Zectang

Member Since Sep 10, 2015  2 posts Zectang Sep 11 2015 at 12:56
Lagurteng posted:
I'd like to leave my own opinion. I believe that it actually can make you rich, but before you come to it, you will have to suffer losses during considerable period of time. it's a long way of learning, trying, and studying from losses. Correct me if I'm wrong, but I see it this way.



Yes, it's really so. I'd also like to highlight the fact that on forex, as well as on any other job, you will not get rich in several days. You have to gain experience and realize what it takes to full extent first.

kayz08

Member Since Jul 13, 2015  32 posts kayz (kayz08) Sep 11 2015 at 12:57
I've just read my comment again and realised I sound a bit too proud. Sorry about that, I'm trying to put the point across that if you study hard and can manage to control yourself. You can become successful.

Ignore all those '95% haters'smiley

I don't owe you pip, You don't owe me pip. Lets help each other.
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