Can you get rich by trading forex?

[Us30_Manager]

Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader. 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.

 

[Hoper]

Yes, but you need to strive for something in life. Need to put a target and go to her

 

[TheYodaFx]

Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader. 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.

95% lose
Met someone yesterday that took out a loan of 1k$ To trade oil with out stop loss and blew and currently in debt and fear

 

[Hoper]

These are not traders - these are players. So people are better to go to the casino, and not on the financial market.

 

[fartkontrol]

Yes, it totally depends upon an individual's skill and experience. With a proper strategy and understanding, one can make tons of profits in trading.

 

[VargaDimwit]

Yeah definitely forex trading makes you rich but you'll have to do a lot of hard work for that and focus more on learning rather than results. Most of the traders in forex lose their money because they fall into greed. It also depends on your trading strategies and experience how far you go.

 

[junaidali15]

yes definitely you can be rich by trading if u do compound trading and you make your trading journal and dont do over trading or over risking

 

[Hoper]

According to statistics, 95% of people lose money in the Forex market. I trust this statistics.

 

[Snoopy1971]

Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader. 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.

Watt ou mean with getting rich? To live with you can trade with it...I say yes I do it very well. But I am not rich.

 

[AayushiShah]

Although our initial reaction would be an unequivocal "No," we should qualify that response. If you are a hedge fund with deep pockets or an exceptionally skilled currency trader, forex trading could make you wealthy. However, rather than being an easy road to riches for the average retail trader, forex trading can be a rocky road to enormous losses and potential penury.

 

[Bumbledom]

Sure, in time. You need to gain experience and understand which strategy suits your style and you may have to try a few, before you understand how the market shifts. It is possible with hard work and passion.

 

[Katefx]

Learning Forex for a beginner could be a bit complex since there is excess information and plenty promises of success

 

[ShihTzu]

Sure, follow a strong strategy and stay alert and focused on your goal. It is not a quick process and with time and patience, you will earn enough profit to consider yourself rich.

 

[sayan]

You can. But you need to have a strategy suitable with your trading style.

 

[Jingoism]

Yes, you can get rich by trading forex but it takes a lot of time, effort, and patience. It also depends on how efficiently you trade. You need proper knowledge, experience, and a lot of dedication for that.

 

[Hoper]

It is best to start trading on a real account with a cent account. I started with a ForexChief cent account. Thanks to this, I saved a lot of money. Then, when I learned to trade, I opened a standard account.

 

[Agus77]

According to statistics, 95% of people lose money in the Forex market. I trust this statistics.

Other percentages are currently being considered that are not good for retail operators. It is said that only 3% manage to be profitable over time.

 

[Agus77]

Sure, in time. You need to gain experience and understand which strategy suits your style and you may have to try a few, before you understand how the market shifts. It is possible with hard work and passion.

And careful risk management. It is the most important thing. Let go of R:R 1-1 and 1-2.
You have to go for a bigger slice of cake. A:R 1-5, 1-7 and more

 

[Hoper]

Other percentages are currently being considered that are not good for retail operators. It is said that only 3% manage to be profitable over time.

Nobody knows the real statistics. I admit that in each company the percentage may be different. The differences can be significant.

 

[Agus77]

Nobody knows the real statistics. I admit that in each company the percentage may be different. The differences can be significant.

Totally agree, but the percentage is not very encouraging in the long term