Forex is profitable ?

As I read here somebody wrote here that Forex can make you rich over years but can make you broke in just hours. I couldn't have written down better myself. Also it mostly depends ENTIRELY on YOURSELF. If you trade with discipline then your trades will be profitable, but not every each of them. Learn a practice a trading strategy. After you have mastered it on a demo then try it out on a Live account to see if you can actually work with it.

Yes Forex trading is profitable only if you know how to trade. No doubt it has a great profit potential but at the same time it is very risky and requires experience, skills to earn such profit. Forex trading is not just about, you decided and start trading. Forex trading seems very simple but you actually need to put a lot of efforts to be good traders. You can simply start with understanding the market, have the knowledge of the market, how it works, how to implement trading strategies, market psychology.

dvid posted:
As I read here somebody wrote here that Forex can make you rich over years but can make you broke in just hours. I couldn't have written down better myself. Also it mostly depends ENTIRELY on YOURSELF. If you trade with discipline then your trades will be profitable, but not every each of them. Learn a practice a trading strategy. After you have mastered it on a demo then try it out on a Live account to see if you can actually work with it.

Yeah also even good trader can lose all capital due to broker bankruptcy or other broker issue.

dvid posted:
As I read here somebody wrote here that Forex can make you rich over years but can make you broke in just hours. I couldn't have written down better myself. Also it mostly depends ENTIRELY on YOURSELF. If you trade with discipline then your trades will be profitable, but not every each of them. Learn a practice a trading strategy. After you have mastered it on a demo then try it out on a Live account to see if you can actually work with it.

Yes I agree with you but I don’t believe, Forex is a shortcut way of money making! It’s a knowledge based profession, so when you have enough knowledge only then you will be able to make decent amount of money.

Adribaasmet posted:
Yes I agree with you but I don’t believe, Forex is a shortcut way of money making! It’s a knowledge based profession, so when you have enough knowledge only then you will be able to make decent amount of money.

Get the right system and you will make money - no experience, only limited knowledge (the right knowledge):

https://www.investopedia.com/articles/trading/08/turtle-trading.asp

BluePanther posted:

Adribaasmet posted:
Yes I agree with you but I don’t believe, Forex is a shortcut way of money making! It’s a knowledge based profession, so when you have enough knowledge only then you will be able to make decent amount of money.

Get the right system and you will make money - no experience, only limited knowledge (the right knowledge):

https://www.investopedia.com/articles/trading/08/turtle-trading.asp


Well done

Of course it is profitable. But it depends on how you tread the path of forex trading. If you want steady, long term gains then that would require years of experience with forex market, right trading strategies and knowing how much is too much

Yes! this has become my bread and butter business since I started become profitable for so many years now 😁

magforex posted:
Yes! this has become my bread and butter business since I started become profitable for so many years now 😁

For how long you have been trading in Forex?

Forex is definitely profitable provided you know how to trade intelligently. You'll need years of experience and knowledge to be able to earn consistent profits from forex. Otherwise it can bring you huge losses if you don't know how to read market movements or if you are using bad strategies.

Same as anything really. If you are intelligent and committed then you can make money. If not, then you will struggle

Dandelion posted:
Same as anything really. If you are intelligent and committed then you can make money. If not, then you will struggle

and diciplined

Dandelion posted:
Same as anything really. If you are intelligent and committed then you can make money. If not, then you will struggle

Agree with you; Forex is one of the most challenging profession here. So, we traders need to start our trading profession with enough preparations (in demo), otherwise we’ll suffer.

togr posted:

Dandelion posted:
Same as anything really. If you are intelligent and committed then you can make money. If not, then you will struggle

and diciplined

and how we can forget about patience

emily_smith posted:

togr posted:

Dandelion posted:
Same as anything really. If you are intelligent and committed then you can make money. If not, then you will struggle

and diciplined

and how we can forget about patience

Practice is a continuous process actually, there is no ending point; till now I do practice in the weekend to improve my monthly return.

Adribaasmet posted:

emily_smith posted:

togr posted:

Dandelion posted:
Same as anything really. If you are intelligent and committed then you can make money. If not, then you will struggle

and diciplined

and how we can forget about patience

Practice is a continuous process actually, there is no ending point; till now I do practice in the weekend to improve my monthly return.

We must never stop learning, otherwise the market will surely teach us a lesson sooner.

I am still learning patience: I must keep my greed (risk) in check and let time work for me.

Hello traders,

CFDs of Forex as any other derivative product brings in a significant challenge, since the pontential profitability is huge, thing that attract many investors, although the risk implied is also significant.

The key factor in order to be profitable is the risk management, this is the real challenge, to stand losses when you need to and to leave positions opened when suitable. A beginner trader normally does not have the education & psychology to stand losses and work efficiently under pressure.

Because we can be profitable winning 20% of the positions, if for example we loose 10 pips per position (80 pips in 8 positions) but we win 60 pips in each winning position (120 pips in 2 positions); on the other hand we can be unprofitable having 80% of winning ratio, winning 10 pips per position but losing 60 pips in the losing ones.

what do you think?

Lets keep going!

Risk management is important but so many people try to do trading using only a technical strategy. That will always fail, people need to use fundamentals as well for optimum results

Definitely Forex is profitable but unfortunately not for everyone. More than 90% traders are loser in the Forex.