Is forex trading a get rich quick business?

[indieover]

Yeah the more I get into the business, the more I understand that it is not a get rich scheme at all. It need a lot of time for us to be a successful forex trader. Not unless you have someone, that knows how to trade for you and if he's very expert trader. So it is very much important that you would gain a lot of experience first. Which could take a lot of time

 

[budado]

How I wish I can say yes. Its so tempting that we can end up making good income in forex but that good income will only going to come if we know how to trade. I'm sure in two to three years time we can say we can become a successful trader. I really do hope to make something good out of myself in here right now.

 

[riddick09]

This will not be as always quick to have profits. I think always here of the risk that makes it difficult to have success and yet, we can't definitely say that even experts will find it easy because, they do things like other traders, analyze, patience in waiting for the right time and others.

 

[sindarin]

Yeah the more I get into the business, the more I understand that it is not a get rich scheme at all. It need a lot of time for us to be a successful forex trader. Not unless you have someone, that knows how to trade for you and if he's very expert trader. So it is very much important that you would gain a lot of experience first. Which could take a lot of time

What do you mean by get rich scheme? because in fact there are some traders that gain a lot of profit in forex and become rich, i think quick rich scheme is the wrong opinion about forex, i means you need alot of thing to make you rich in forex and gain a lot of bucks from each trading you do, but to gain quick profit, it still true because i see a lot of people that gain profit so fast in forex, so that is why they prefer to trade in forex.

 

[indieover]

What i means that it is not easy learn forex fast. And make money right away just after a few days you have been learning forex. It would take many months or maybe more than a year before you would be able to know how how to make a lot of money in forex. This is not an easy business. You could lose a lot of the money if you're not careful

 

[riddick09]

Yes, because when you rush on it then, you will just think of making more losses and not easy profits. Because, we should learn Forex that will be truly understood. Then, we have the importance of trading by having the demo or real which have both necessary for improving our trading.

 

[ryuken]

It is not a get rich quick market but it can make any one quick beggar if the person don't pay much of an attention there. I have noticed that sometimes people are going to be having some issues with the forex and they are going to lose the money. that happens all the time with the forex.

 

[sindarin]

What i means that it is not easy learn forex fast. And make money right away just after a few days you have been learning forex. It would take many months or maybe more than a year before you would be able to know how how to make a lot of money in forex. This is not an easy business. You could lose a lot of the money if you're not careful

but not all must spend a lot of time to earn money in forex, you can even see some traders that earn money directly under their mentor with real account and based on what i see they spend about 2 or 3 weeks in real account after that they can be earn a little bit profit, even slow i think that is the most efficient way, but i also know that people need to spend quite long time in demo account before have their own confidence.

 

[kasual]

many people expect to get huge income from forex market because they are able to offering it. but to say that we can able to become rich overnight is too much. moreover, if we are still have lack of skill and capital. can be sure that we cannot expect high in term of gain. due to learning issue, probably become profitable trader will takes long period.

 

[budado]

Its depends how quick is quick to you and how much is much for you. Right now I'm happy that some how I do earn good amount of money in forex. I do hope that in the long run I can say I'm really happy with the way things are for me in forex trading. But for me right now earning 10% to 30% profit each month is already a good earning.

 

[indieover]

If you have your own mentor, then I am sure that you would be able to learn much faster and able to make money faster . But not many of us have the to find his own mentor. I have been looking for that but I have failed to do so. So we should expect to make money right away if you are just on your own.

 

[riddick09]

Learn faster and devise your trading strategy faster. This means that you can have your trading as early as possible and then, can make profits quicker as well compared on those individual trading. But then, there are still limits on what you can learn from the mentors and you will be the one who will learn more or seek for it.

 

[indieover]

But sometimes if you would try to learn things faster that you would not be able to learn well. It is very important that you would be able to have quality time learning forex and not just be in a hurry to learn everything fast although you would not be able to digest in your brain all the knowledge you have tried to learn.

 

[kasual]

well, I agree that with guidance from mentor probably will make beginner trader able to learn fast and become profitable faster. it due to that beginner will get specific trading strategy since beginning and mentor will give guidance to stick with it and mastering it.

 

[sindarin]

It seems all of us here are agree that with mentor people will grow so fast, since they have mentor that will redirect them and also will help them to learn more and help them also to gain more profit in forex. so far i think that is the best way but not all traders that can afford for something like that.

 

[ryuken]

It is possible that mentor does help but we know that such mentors are also hard to get and manage. most likely some of them are going to be issues with the location. so we have to make sure that we are not taking any rash decisions there and making thinds harder for our own self.

 

[kasual]

mostly successful trader is hide and they are enjoy their own pleasure. but some of them willing to invite other to achieve the same success by open mentoring program. one of famous mentor is Nial Fuller. he teach about price action trading and all of their student get learning material about price action.

 

[riddick09]

Well, I don't know many mentors in Forex. There are not so many traders are willing to have teach others or support them in trading so, this will be really difficult to have seen and also they will also teach the Forex is not easy or quick to gain profits.

 

[indieover]

Indeed it is very hard to find someone generous enough to be our mentor. That's like if you have found a mentor then you are very lucky because he's very hard to find one now.

 

[ryuken]

I have realized that getting rich is not that easy and also with rhe forex then that has to be more like miracle. many people have barely made the money and also not managed to stick with the earning much these days. so you can see that insta rich type of stuff is not possible.