Can forex trading make you rich ?
Miembro desde Mar 23, 2016
posts 8
Jul 23, 2017 at 07:29
It can, but it probably won't. Since Forex has a big speculative element to it, you have to look at it from the probability point of view 😉
Miembro desde Mar 23, 2016
posts 8
Jul 23, 2017 at 07:31
And it depends largely on your account balance and discipline.
forex_trader_445428
Miembro desde Jul 19, 2017
posts 90
Jul 23, 2017 at 13:43
forex trading can make you rich if you have great patience....
Jul 23, 2017 at 13:58
greenbackFX posted:nice sir, how can we see it, do you have any source for learning probability? 😐
It can, but it probably won't. Since Forex has a big speculative element to it, you have to look at it from the probability point of view 😉
Miembro desde Mar 23, 2016
posts 8
Jul 23, 2017 at 15:06
Learn moneymanagement techniques...
Jul 23, 2017 at 15:20
greenbackFX posted:as simple as it sounds, i have learn it, like only put risk about 0.50% of equity in one trade, calculate risk reward, trade once every day, leverage only 1:100 when not so needed, increase leverage when needed, and think about yearly growth not hourly/daily.
Learn moneymanagement techniques...
is that the only thing i needed in money management?
Miembro desde Mar 23, 2016
posts 8
Jul 23, 2017 at 15:26
The first 2 points are enough. Most people can't even master those... it is a difference knowing in theory and actually doing it. Finally when you master it you can become profitable..Good luck and lots of patience!
Jul 23, 2017 at 15:32
greenbackFX posted:Thanks sir,
The first 2 points are enough. Most people can't even master those... it is a difference knowing in theory and actually doing it. Finally when you master it you can become profitable..Good luck and lots of patience!
you're right, i only know about the theory, and on process doing it.😄
will put into perspective on what you saying sir...!! 😎
Miembro desde Dec 11, 2015
posts 1487
Jul 24, 2017 at 13:39
(editado Jul 24, 2017 at 13:41)
pflux posted:
Forex will make you rich if you are the broker.
For everyone else: discipline, money management and time will do it.
Ha, that’s a good way of putting it.
Sometimes these situations – the broker getting very rich off the back of investors and traders leads to very drastic and unfortunate situations. Last week a group of angry Chinese investors and traders actually invaded the offices of their broker and took hostages because they apparently lost a lot of money. (https://www.forexbrokerz.com/news/Upset-Chinese-investors-hold-hostage-USGFX-staff-in-Shanghai) So far it’s unclear whether the hostage crisis has ended.
Miembro desde Feb 22, 2011
posts 4862
Jul 24, 2017 at 13:45
pflux posted:
Forex will make you rich if you are the broker.
For everyone else: discipline, money management and time will do it.
That is about right, though sometimes even broker goes bankrupt
forex_trader_445428
Miembro desde Jul 19, 2017
posts 90
Jul 24, 2017 at 13:47
pflux posted:
Forex will make you rich if you are the broker.
For everyone else: discipline, money management and time will do it.
Correct!!!
Jul 24, 2017 at 19:49
(editado Jul 24, 2017 at 19:50)
pflux posted:😐
Forex will make you rich if you are the broker.
For everyone else: discipline, money management and time will do it.
If you are broker and the money keep flowing to your bank account,
it depends on the number of trader getting paid vs money incoming to broker pocket,
no money coming = pool getting dry... 😕
and that's where marketing/bonus/promo come in playing,
to get all the prawns trader come put their money to broker pockets... 😁
of course, this comment for entertaiment, so be chill... 😇
Miembro desde Feb 22, 2011
posts 4862
Aug 02, 2017 at 10:09
Only about 5% of traders are profitable.
Lets assume just 2-3% became rich.
So the answer is unfortunately there is 97% probability trading wont make you rich.
Unless you are exceptional or you have exceptional guru.
Someone who trades for living for a long time :)
Lets assume just 2-3% became rich.
So the answer is unfortunately there is 97% probability trading wont make you rich.
Unless you are exceptional or you have exceptional guru.
Someone who trades for living for a long time :)
Miembro desde Sep 12, 2015
posts 1948
Aug 10, 2017 at 21:37
You might get lucky and build a nice nest egg in Forex, your odds might be better trading stocks if you have the patience.
"They mistook leverage with genius".
