How to get rich with Forex?

Discussion in 'General Forex Discussion' started by SweetPrincess, Jun 28, 2017.

  1. SweetPrincess

    SweetPrincess Trader

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    How can we get rich with Forex?
    Do you think we can be rich by just trading with Forex?
    What do you think is the best way to become wealthy?
    Do you have some methods and strategies most suitable to become a professional and profitable trader?
     
    Bryanpaul likes this.
  2. Karlovich

    Karlovich Trader

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    Definitely we can. Just you need to stand up super early to read all news.
     
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  3. SweetPrincess

    SweetPrincess Trader

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    Yeah, right. We must know the news about Forex so that when we trade, we can get bigger profits.. :)
     
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  4. Karlovich

    Karlovich Trader

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    Which news about forex do you read and where?
     
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  5. vpsmalaysia

    vpsmalaysia Trader

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    Take notes. Study your success and failure.
    An analytical approach to trading does not begin at the fundamental and technical analysis of price trends, or the formulation of trading strategies. It begins at the first step taken into the career, with the first dollar placed in an open position, and the first mistakes in calculation and trading methods. The successful trader will keep a diary, a journal of his trading activity where he carefully scrutinizes his mistakes and successes to find out what works and what does not. This is one of the most importance forex trading tips that you will get from a good mentor.
     
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  6. Ary Barroso

    Ary Barroso Active Trader

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    Forex is a long term journey! So, I’m not hurry actually! In addition, I’m trading here for making a decent monthly income. Yes, I believe Forex trading is much standard way of money making than others, but there is no shortcut way of success! Now, I am trading with 15% monthly target and I have 3 years trading experience.

    According to your last question, of course I have a fixed trading strategy that I follow in my trading, my trading system is known as news trading .
     
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  7. koolpips

    koolpips Trader

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    Wrong way of thinking
    Good to keep this in mind " Winners in market Worry about Losing" and " Losers ion MArket Worry about Winning"

    Main thign is trasde with a plan and in your comfort zone - treat it like a business with dedication and realistic targets .

    Keep Rules Rigid and Expectations flexible

    rgds
    Koolpips
     
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  8. David Smith

    David Smith Trader

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    It is possible to become rick by doing forex business. This is really exciting and great source for making profit from this. You need to gather huge knowledge and experience to get profit from this business. You need to follow trading rules with discipline. You can become rich within short time
     
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  9. JimTatum

    JimTatum Trader

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    Hi,

    Some basic techniques that can be used to become rich in forex trading.
    1)Wait for the right trade. Avoid trading when it does not have the right strategy.
    2)Avoid over-trading.
    3)Risk and Money management.
    4)Trading Multiple time frames.
     
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  10. ashouq

    ashouq Active Trader

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    In my opinion forex does not ensure getting rich over the night however it provides us an opportunity to earn maximum returns on our investments so it can be a good option to be considered if anyone wishes to have passive income earning opportunities.
     
    SweetPrincess likes this.
  11. Michelle Yeoh

    Michelle Yeoh Trader

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    Well, yes I believe it’s possible but not a so called easy way of money making! Based on my long time trading experience, Price Action is one of the popular trading strategy! So, now I am working with Price Action! By the way, I am trading with a low target because I focus on mainly consistency!
     
  12. SweetPrincess

    SweetPrincess Trader

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    Yes, it is true. Forex trading is a long term journey and takes a lot of time in gaining knowledge and skills. Proper knowledge, experience and skills are needed in order to be successful. We must be patient enough and eager to learn in order to succeed in this kind of business.
     
  13. David Smith

    David Smith Trader

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    Forex business is risky for new comers. So, if they started this business to become rich within short time, then it will be mistake for them. They can't earn money from Forex and loss their balance. So, we should not look for rich from forex if we don't know. To do this, you must have knowledge and experience about this.
     
  14. Karlovich

    Karlovich Trader

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    Do u use marketdeps tool?
     
  15. ashouq

    ashouq Active Trader

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    In my opinion forex trading is risky for every one, even experienced traders looses money on a bad day however it costs them to learn new things also. I guess this overall market is very professional which does not spare any mistakes and those who make mistakes losses money.
     
  16. Derry

    Derry Trader

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    It's possiblt to get rich on forex but it's a pretty long complicated process.
     
  17. ashouq

    ashouq Active Trader

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    I think when we stick to earn money in forex trading on a consistent basis, it will really helps us make our income graph more stable and addition in our assets too.
     
  18. willpower

    willpower Trader

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    I started forex journey 7 years back and I had nothing to start with and now I have earned quite good money. So I consider myself rich as compared to when I started. It takes time to get success in forex and it is not a get rich quick scheme.
     
  19. o.Hannah

    o.Hannah Trader

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    Look into trading with automated strategies early, it was my saving grace.
     
  20. Karlovich

    Karlovich Trader

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    I found out that by API u can tranzist your orders ftom your MT4 accounts from any broker into Arum.Invest, which is RAMM-platform. Very usefull for getting for extramoney ;)
     

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