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Can forex trading make you rich ?
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JacoAF

Členem od Jun 14, 2013  130 zpráv(a,y) Jaco Ferreira (JacoAF) Dec 12 2017 at 18:33
snapdragon1970 posted:
Forex is a tough game for sure no doubt,it's not impossible though to make a lot of money,even on the most basic platforms with a reasonable size account,experience and proper money management.


I think Kieran hit the nail right on the head. Just like to add, the 98% of people failing Apple1 talks about (some say its 90%, other say its 80%, who really knows) come in the market thinking they can get rich quick, be a millionaire in a year.

So lets say you are an experienced trader, and lets say your trading strategy you a consistent average yearly (modest) return of 15% for the sake of this exercise. And lets assume you are disciplined enough not to take any money out of the account. And lets assume you saved up enough money to open a $10 000 account.

If you then trade for 40 years based on the above criteria your account will be more or less at $2,678,635.46 after 40 years. So yes, you CAN get rich, not impossible, but in reality things don't work like that. People are emotional beasts. We are greedy and wish to get rich quicker so we can spend our millions.

Manual traders battle with emotions. Algorithmic traders battle with markets changing over time, and this causes a trading strategy to lose it effectiveness over long periods of time.

'Can forex trading make you rich ?'... tough questions this, but NOT impossible.

Good luck trading out there!

Keep it simple, be disciplined, get rich slowly and above all protect your equity!
MOAMER

Členem od Dec 24, 2016  9 zpráv(a,y) MHTRADING (MOAMER) Dec 13 2017 at 09:27
Question: How to judge if someone is a profitable trader or not?

By age of the account? or capital growth? or Max DD? or what?

i have my own strategy now, and decided to try it on a demo account.. i opened a demo account on this December 1st with $ 1000 .. today Dec 12.. it has grown to +3573.44%. which means to (Dec 12) $36734.42 and with 0.99 DD.

so the question is : Am i profitable trader and fall in the 1% category of profitable traders?


m.halab@
Arcferreira

Členem od Mar 02, 2017  49 zpráv(a,y) Allan (Arcferreira) Dec 13 2017 at 09:44
For this question, I have an opinion:

Forex is an investment... not a get rich scheme.

People must understand that someone can get rich in Forex the same way someone can get rich in Las Vegas. I did that when I started in Forex... I transformed 7.500 in 60.000 in a couple of months... but I lost 20.000 in Brexit!!! I stopped trading and I started to study before trading again...

A lot of people did a fortune in BREXIT, the same way a lot of people are doing fortune with cryptomoney... mostly lucky!

I trade Forex to get something better than the 10%/year. After 2 years studying, I can say 30%/year is not a fantasy.... I used some PAMM accounts that gave me this return. Give a look in Darwinex.com

Today I am able to achieve 3% monthly... some months 6%, others zero or negative... but after 1 year, 30% is not a impossible task for mortals like you and me...

Yes, 90% of Forex traders fail... but how many study at least for 2 years - 1 hour a day? Only 5%...

Yes, like everything in life, you need to invest time to learn and to gain experience. If you don't want to do that, go away from Forex or you will loose your money....


Trade safely... Remember, a high Drawdown means a high risk!
BaldoN

Členem od Feb 12, 2016  522 zpráv(a,y) Baldo (BaldoN) Dec 13 2017 at 15:00
The topic remind me an old joke:

'- Is it possible to become a millionaire with forex trading?
- Yes, it is possible, if you were before a billionaire' :)

Arcferreira

Členem od Mar 02, 2017  49 zpráv(a,y) Allan (Arcferreira) Dec 14 2017 at 08:08
4xAce posted:
Let's not get ahead of ourselves. Most of you aren't even at breakeven.
h

You are right 4xAce. I had lucky in past and stopped trading before losing everything.
But 30-50% year is not impossible. There is good signals able to achieve this level of return.

At Darwinex, Thales signal is one of them. You can use it... I did. Good return with low DD. Darwinex is a regulated broker in UK. It worths a look.

Is not a get rich scheme... but you can live trading Forex.

Trade safely... Remember, a high Drawdown means a high risk!
MOAMER

Členem od Dec 24, 2016  9 zpráv(a,y) MHTRADING (MOAMER) Dec 14 2017 at 08:11
Arcferreira posted:
For this question, I have an opinion:

Forex is an investment... not a get rich scheme.

People must understand that someone can get rich in Forex the same way someone can get rich in Las Vegas. I did that when I started in Forex... I transformed 7.500 in 60.000 in a couple of months... but I lost 20.000 in Brexit!!! I stopped trading and I started to study before trading again...

A lot of people did a fortune in BREXIT, the same way a lot of people are doing fortune with cryptomoney... mostly lucky!

I trade Forex to get something better than the 10%/year. After 2 years studying, I can say 30%/year is not a fantasy.... I used some PAMM accounts that gave me this return. Give a look in Darwinex.com

Today I am able to achieve 3% monthly... some months 6%, others zero or negative... but after 1 year, 30% is not a impossible task for mortals like you and me...

Yes, 90% of Forex traders fail... but how many study at least for 2 years - 1 hour a day? Only 5%...

Yes, like everything in life, you need to invest time to learn and to gain experience. If you don't want to do that, go away from Forex or you will loose your money....

WELL SAID

m.halab@
AmDiab

Členem od Apr 18, 2017  652 zpráv(a,y) AmDiab Dec 14 2017 at 15:59
BaldoN posted:
The topic remind me an old joke:

'- Is it possible to become a millionaire with forex trading?
- Yes, it is possible, if you were before a billionaire' :)


Ha ha ha! Nice joke buddy! By the way, I think okay good skilled Forex traders can expect here good amount of money.

CarlFooty

Členem od Nov 08, 2017  11 zpráv(a,y) CarlFooty Dec 15 2017 at 11:38
Darwinex looks good but it is very much a 'black box' that you are signing up to. You cannot even see the trades that are taken

Sphinx_FX

Členem od May 25, 2011  36 zpráv(a,y) Sergiu (Sphinx_FX) Dec 15 2017 at 11:39
This year for me was pretty profitable. I started off the year with 150$ in the account and till date managed to get about 7000$ profit, in total. At the moment my strategy makes about 5-10% a month, so far every month. So to achieve 60-100% a year is very possible even at low risks, however the other question is the amount of money you make to be enough to survive on it. As 5% a month from 100$ is one amount and from 100,000 $ is a completely different amount.

Most important to properly manage your money.


Life is like a box of chocolates, you never know what you gonna get, unless you are a psychic.
apple1st

Členem od Sep 17, 2015  126 zpráv(a,y) FXPIP ONE (apple1st) Dec 15 2017 at 12:17
Forex can make you rich only if you stop hunting big profits and start to show +10% every month stable to your investors
everythingh is simple
Also need a time for trading + Software

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