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Can forex trading make you rich ?

Imamul
Dec 14 2018 at 11:41
posts 624
To enter Forex market is so much easy. With little amount you can kick off trading at any place. But the main deal is surviving that is really difficult. Because this market is too much volatile and no one can predict the real faction of this market with surely. so we have to pass a long time in here , if we want to get maximal result from here.

Mohammadi
Dec 15 2018 at 03:29
posts 886
Newcomers take this market place as s casino, they always try to make profit very rapidly without learning, as a result they become loser after passing sometimes and ultimately blame this trading place.

Snorre
Dec 16 2018 at 09:27
posts 11
That is why risk management is so important. It gives us the time to continue trading and learning. It allows us to stay in the game until the good times come and we can get rich!

Bindaytrader (Bindaytrader)
Dec 16 2018 at 09:46
posts 12
Its absolutly possible the forex market generates 16 times the money that is generated on wallstreet a day everyday its bye far the biggest market in the world and a handfull of that is retail traders do you think millions of people all lost money of course non of them have registrated their accounts on Myfxbook ore any forums because they are not interested in people knowing how much they make ore have any need too brag atleats i dont i have a coupple of my EA`S registered too have a journal on how they are doing but that just for fun nothing i expect will make much money...I have a account here with 2500 dollars in ore so mayby i trade that a little after new year along with my real accounts..I made money on binarys also when that was allowed in europe,but it has taken me 5 years of watching charts for hours a day too be able too recognize patterns and how the market behaves so i only use pivots/Rsi and fibs together with my experience soo i can actually feel it when its time to enter a trade..

Matt (BluePanther)
Dec 16 2018 at 11:07
posts 1354
Mohammadi posted:
Newcomers take this market place as s casino, they always try to make profit very rapidly without learning, as a result they become loser after passing sometimes and ultimately blame this trading place.


True. This is the price of their education.
They would be wise to continue their lessons to fruition (profitability), and not throw away their education. To quit before success is to throw away their lessons in trading, that is, throw away their time and money spent on education.

That is wasteful. Like going to university for ten years, spending thousands on a degree, and then not using the knowledge.

AmDiab
Dec 16 2018 at 11:15
posts 718
Mohammadi posted:
Newcomers take this market place as s casino, they always try to make profit very rapidly without learning, as a result they become loser after passing sometimes and ultimately blame this trading place.


Same opinion from me; a numbers of new traders start with a wrong mentality! As a result; so many losers are available here & there.

Matt (BluePanther)
Dec 16 2018 at 11:16
posts 1354
Neale Donald Walsch | The 3 Secrets To Everything!

Allan (Arcferreira)
Dec 16 2018 at 11:24
posts 50
Mohammadi posted:
Newcomers take this market place as s casino, they always try to make profit very rapidly without learning, as a result they become loser after passing sometimes and ultimately blame this trading place.


Yes, Forex and CFDs are a Cassino. Earlier you realize this truth, easier you will make money.
Imagine the Roulette in the Cassino. There is 18 black numbers and 18 red numbers. If you bet black every single time, your chance to win is 50%, correct? No, it isn't. Because the Cassino has the zero and double zero. After 3800 bets, you win 1800, and the house 2000. Your chance in this strategy is 47.4%. For the Cassino, is 52.6%. For every million people bet in Roulette, House's profit is 52.000,00.

Because the Cassino increase its odds in 2.6%, it is able to be profitable...

The cassino doesn't accept bets that goes over an ammount. Because a lucky trader with a huge bet can wipe out all profit from Cassino.

What is Cassino doing? Working with probabilities to favour profits. Cassino has a strategy to increase its odds to win barely over 50%, a money management to avoid risky bets.

How many Forex traders have a strategy to barely increase their probabilities, and how many work with money management? Just a few.

And how do I increase my chances? Technical analysis (TA). TA is not a Crystall ball, it will not say if prices will go up or down. A simple TA that increases your odds to win to 60%, with a reward/risk ratio of 1:1, a 1% risk in every trade, 250 trades a year, means 63% return in one year. In 10 years, 10.000 USD will become 1.3 million. How many traders work with a 10 year plan?

Yes, forex can make you rich. But you need a strategy.

Trade safely... Remember, a high Drawdown means a high risk!
Allan (Arcferreira)
Dec 16 2018 at 11:25
posts 50
In short, trading is about probabilities.

Reward/Risk ratio in every trade = R/R = 1/1
Risk in % of your initial balance = Risk = 1%
Winning ratio in % = WR = 60%
Number of trades per month = MT = 20

Monthly return = MT *Risk*(WR * R/R - (100% - WR))
Monthly return = 20*1%*(60%*1 - (100% - 60%)) = 4%

A 4% monthly isn't a impossible task. Do it a year...
Yearly return = (1 + monthly return)^12 - 1
Yearly return = 1.04^12 -1 = 0.601 = 60.1%

Trade safely... Remember, a high Drawdown means a high risk!
Imamul
Dec 17 2018 at 12:42
posts 624
Successful trading is depend on most powerful analyzing trade knowledge , on the other hand , despite of good trading knowledge that’s not possible at all to lead a successful trading life at all if you don’t have a reliable support from a credible trading broker , because the broker can affects the result of our trading with certainly.

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