Can forex trading make you rich ?

forex can make us rich.

see my portfolio

CTmauq2022 posted:
forex can make us rich.

see my portfolio

Your cent accounts you mean?

Fx_challenger posted:

CTmauq2022 posted:
forex can make us rich.

see my portfolio

Your cent accounts you mean?

Forex can be profitable will depending on each trader's skill, result in forex trading may vary each trader, and sometimes the result not always fixed, today maybe we can make a good profit but not sure for tomorrow, maybe we face losing trades when loss coming, control emotion is important to avoid mistake because angry.

tranle447 posted:
That is a very interesting question .

https://www.investopedia.com/articles/forex/073115/can-forex-trading-make-you-rich.asp

There is no fixed answer; because it depends on your trading skill; if you have a good trading skill then nothing is impossible for you! But with an ordinary trading skill, the journey will be so challenging for sure! By the way, till now I’m learning & trying hard to improve my trading skill!

Yes, Forex can make you rich not immediately but definitely. To reach this milestone, you should wait and keep trading with patience. Learn how to analyze the market properly both technically and fundamentally. The reason is both analyses should be there to capture the actual market trend.

Possibly! Your success in forex trading depends on your skills. Trading has ups and downs. It is challenging to make a fortune from forex trading, but isn’t impossible. As long as you are consistent and eager to learn from your trades, you can become a profitable trader.

Forex can make rich if trader already has good skill trading, this will become additional income if they treat forex as a part-time job, maybe trading is the greatest business because has flexible time, some professional traders maybe they treat forex as full time, but for investor they treat fore as one portfolio investment, because besides profitable also forex is risky.it depends on trader itself.

I started with $1.000 on DEMO account few days ago, March 18th 2022. Today it's March 22th (there was also 2 days weekend between 18th and 22th) and I have already over $3.000 in this demo account.
Check also my stats, how many profits and losses did I close. ;)

https://www.myfxbook.com/members/Zoki/zoki-demo-2022-03-18/9473384

So what do you think? ;)

tranle447 posted:
That is a very interesting question .

https://www.investopedia.com/articles/forex/073115/can-forex-trading-make-you-rich.asp

Yes it can, of course. But a lot of people come into trading thinking that they will become rich fast.

PeteLanceley posted:

tranle447 posted:
That is a very interesting question .

https://www.investopedia.com/articles/forex/073115/can-forex-trading-make-you-rich.asp

Yes it can, of course. But a lot of people come into trading thinking that they will become rich fast.

Theoretically yes. Market volatility also/even on shortest time frames gives A LOT of pips every day. Theoretically it's possible to make thousands trades each day, which if all would be in profit, would just constantly keep increasing the equity and with proper growing lotsize it would be probably easy to grow equity at least for 100 times every day.

So this question should rather be, can you (we) become rich with forex? Because forex can you make you rich, if you would trade constantly 100% profitable. But in reality it's you (we, each of us) who are just not able to do that in practice. :D

There is also another problem, as we know, for every dollar on the winning side, there has to be a losing dollar on the other side as well. So if someone really becomes rich, that money has to come from those who lost that money and that's usually higher number of people with smaller deposits, to equal each one who becomes rich.

Yes, that is a possibility! But you need to also have good skills. Also, consistency matters, irrespective of whatever you do.

PeteLanceley posted:

tranle447 posted:
That is a very interesting question .

https://www.investopedia.com/articles/forex/073115/can-forex-trading-make-you-rich.asp

Yes it can, of course. But a lot of people come into trading thinking that they will become rich fast.

Thats the key isnt it, most want it today and want the success of trading masters of 10years in a matter of hours lol

Making money in forex trading depends on the trading skills and psychology a trader has. Traders need to work hard and learn about forex trading which comes with time and experience.
Forex trading does not make every trader rich. There are many traders who quit due to the lack of proper knowledge.

Forex trading is very unlikely to make 'you' rich, 90% of traders lose money. But a very very small amount can make significant $$$

All businesses maybe can make rich, included in forex trading business, but how to become rich from forex trading is not simple, this is need to learn and hard work, forex trading is not getting quick rich at a short time or overnight, forex is risky business, in trading profit and loss always occurs, success in demo account does not guarantee success later in real account.

Yes, there is a possibility. But there are a lot of factors to consider, starting with your trading skills.

You can get rich from forex but more than likely you will become poor and lose all your funds. The choice is yours

Forex included high-risk high returns, today profit can't guarantee will get the same result for tomorrow, in fact, there are successful traders able to make huge money from forex trading, all depending on skills, if skills are still below average, don't spend big money in forex maybe only waste money.