Is forex trading a get rich quick business?

[riddick09]

You can even double your money in just few hours. So it would depend on your skills and also the market conditions. So it's going to be profitable also in such few hours only. So that is why we want to be in forex more.

Yup, that's possible. You can do that, by adjusting your lot size and leverage. But then, that's too risky if you do this, its like profit or loss in connection of your trading account capital. As it might blown your trading account or reached margin call easily.

 

[monyitomon]

Yes, that is really possible, but the question is, are you willing to take the risk because as for me it's always better if we are having some good plan, and we are always trying to protect our capital in here than to lose it all.

 

[Razor1911]

hmm i agree upto some extent.. its a good rich quick program if and only if you know how to make best out it..
and not most of the traders can fulfill their willing to get rich quickly, though its not impossible to get rich quick if you know the right strategy..

 

[monyitomon]

Yes, if you really have a good strategy, and good planning then it could lead you to the right path of becoming rich on Forex trading, if you can lose all your capital in just a short period of time in Forex you can also double your capital in just a short period of time.

 

[Tirus]

It cannot be a get rich quick business scheme even in that instance because you cannot learn forex trading quickly in the first place. You will need to spend time learning and practising both in demo and in real account trading before you can have a good trading strategy. It can take years before you get to that point.

 

[budado]

Its depends to what you compare forex to. If its get rick quick business then I can say in term of opportunity its yes. Because theirs no other business that we can earn in faster speed that forex trading. At least right now I can't think of one. So in short forex compare to other business its a get rick quick business.

 

[profitfx]

Most at time i do ask my self this question is forex trading a get rich quick program?perhaps looking at the other side most people to make up to 100 dollar per day from trading forex perhaps some people don't even make a single pips.so please friends share you own idea.

to my own idea, forex trading is a get rich quick business when we can earn pips easy or when we sure believe that we are right to buy or sell. other way say forex trading is a get rich business when and when we have expertise enough and we have belief of market. I think so !!

 

[indieover]

I would agree that there's no business available to ordinary people like forex that can potentially make us lots of money. But it's not that easy to realize that goal. But it's very much possible although not everybody can be successful as not everybody can have a winning trade all at the same time.

 

[Tirus]

Yes, there is a good potential to make good money out of forex trading and all that it takes is for the trader is to learn and make sure that they equip themselves with the knowledge. Its definitely not a get rich quick scheme because many that approach it this way wont get to make profit as they will lack the skills.

 

[indieover]

you can be rich in forex but you would need big capital for you to get rich in forex. and you must be a good trader. but having said that, i still don't say that it is just get rich scheme for everybody or for most traders. only expert trader can get rich on trading because they have knowledge and more experienced.

 

[Tirus]

The problem with people that approach forex trading like a get rich quick scheme are unlikely not to have the right knowledge about forex and therefore are more bound to result in losses than others. Its just better to take your time to raise capital and learn the basics and practice as required.

 

[monyitomon]

Yes, because for sure they will rush into it as what on their mindset is that "To be rich" which is not possible for those people who will rush learning Forex trading, and soon they will realize their mistake and regret it that's why it's always better not to rush.

 

[Tirus]

By the time that they do regret they would probably have lost a lot of money from trading without proper knowledge and experience. Its just funny that everyway you go you are advised on the proper way to approach forex and there are guidelines on what to do in order to be successful but we rarely use it and wonder why we fail.

 

[kalpeshmkm]

Yes if you have best knowledge of Forex trading and you are un bitten than it is possible to become rich quick so if you think Forex can make you quickly rich than you have to collect proper knowledge of Forex trading and make your trading continue and yes Forex trading can make you rich very quickly than any other business.

 

[rexway]

No matter the level of knowledge which we get I think we should not take forex trading as a get rich quick business by doing this simply means that we are inviting loss to come and leave in our trade so the best thing first to do is get the requierd training in forex field first then money will start comming suprisesingly.

 

[monyitomon]

Yes, we can put in our mind that we can be rich in Forex trading, but not quickly because it's such a good motivation when we are thinking about becoming rich in Forex trading, we all want to be successful in Forex trading.

 

[indieover]

Yes it's our goal to earn well on the site as well. So I hope that I would be able to earn well on forex but I'm not expecting to be rich in forex although I am very much sure that we can get rich in forex. So I hope that I would be able to develop my knowledge well in forex.

 

[Tirus]

I just expect to earn a good amount of money that can sustain me and bring a welcome change to my life. I dont expect to become rich quickly and as such try to avoid thinking of forex as a way to getting rich quickly because its not a good idea. The more knowledge that you are able to gain is the more likelihood that you would increase your earnings as a result.

 

[anuj7]

Yes if you trade intelligently with proper guidance.

 

[monyitomon]

I know that I want to be rich in Forex trading because it's my goal, but I know it's gonna be a long process and I am not thinking much about that because I need to focus on the things that I will face before it gets there.