Can forex trading make you rich ?

Elitefxsniper posted:



It was fun to read all these posts ...
You're all crying, how hard ...
But what's easy? Is it easy to win the Olympic Games ?
...Success in any field is always difficult.

STOP CRYING !
JUST DO IT )))

Well said; there is no shortcut way of success! Actually, which traders try to make money, they lose their capital in regular basis.

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.

Nothing is settled and stone.
I personally use a EA and it's working nicely, but it always needs attention.
So far I'm doing good, I hope to do great in the next few month and wonderful for the rest of my life :)

mlawson71 posted:

TiffanyK posted:
Can forex trading make you rich ? - NO, as long as you make it only to become rich, without having the smallest interest in the industry, but just the crazy ambition to gain money. And what kind of a 'facebook quiz' question is that !?

I don't know anyone who's become rich from trading alone. Profitable, yes, even regularly profitable, and they enjoy a good income, but I wouldn't call those people rich.

The term 'rich' is subjective. They may not be rich in material wealth, but they live rich lives because of their good income from trading.

What is the point of storing the wealth if you don't use it? Accumulating wealth is not the objective, it is a means to an end: to live a good life, to live a better life.

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.

you think like most, you are doomed to failure!



one monk said: ' if you have been looking for the most beautiful lotus flower all your life and have not found it so, it does not mean that you lost, you won, because you always went to your goal ! '

Life is not the goal, life is the way !

BluePanther posted:

mlawson71 posted:

TiffanyK posted:
Can forex trading make you rich ? - NO, as long as you make it only to become rich, without having the smallest interest in the industry, but just the crazy ambition to gain money. And what kind of a 'facebook quiz' question is that !?

I don't know anyone who's become rich from trading alone. Profitable, yes, even regularly profitable, and they enjoy a good income, but I wouldn't call those people rich.

The term 'rich' is subjective. They may not be rich in material wealth, but they live rich lives because of their good income from trading.

What is the point of storing the wealth if you don't use it? Accumulating wealth is not the objective, it is a means to an end: to live a good life, to live a better life.

True !

BluePanther posted:

mlawson71 posted:

TiffanyK posted:
Can forex trading make you rich ? - NO, as long as you make it only to become rich, without having the smallest interest in the industry, but just the crazy ambition to gain money. And what kind of a 'facebook quiz' question is that !?

I don't know anyone who's become rich from trading alone. Profitable, yes, even regularly profitable, and they enjoy a good income, but I wouldn't call those people rich.

The term 'rich' is subjective. They may not be rich in material wealth, but they live rich lives because of their good income from trading.

What is the point of storing the wealth if you don't use it? Accumulating wealth is not the objective, it is a means to an end: to live a good life, to live a better life.

For me Forex allows me to become independent.
No need to daily job but still a lot to do.
Research, development, programming, evaluation, etc...

With profit like these my dreams came true
https://ibb.co/h4One7

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.

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.

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 :)

There are many 'if's' here ... and yes, but not so fast or quick :)

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.

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).

Generally the answer is big NO.
Only rich in knowledge, effort, dedication, passion in forex trading can make you rich.

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.

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

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

mlawson71 posted:

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

Good idea :)