How to get rich with Forex?
- Thread starter SweetPrincess
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Till now; mt4 is the best trading platform but I think, for EA trading mt5 is a smart choice! Although, I trade manually; that’s why, mt4 is my 1st choice.
1-Yes, there are cases where people have become Millionaires just trading FX.
2-There is no proven formula.
3-If anyone did, they wouldn't share their strategy on a public forum, although you can definitely follow some good guys on MyFxBook, prhaps could help you understand the market better.
Based on your 3rd point; it can be! Such as; I’m trading with PA trading strategy. Then what? till now I can share on public forum.
Thank you very much! Yes, price action is very much useful trading strategy & popular as well.
Certainly we have seen few people who got rich from Forex, but percentage of these people is very small. The point is to figure out and fully understand movements on this market and make trading strategy based on it. Continuous profits will make you rich person, but it is easy to say and hard to do
Yes, the percentage is very low; but the point is: successful traders get enough financial freedom from this financial market! That’s the beauty of Forex.
I think that it all depends on targets set by trader. Some people are entering market in order to get rich, but there is very small number of those who really make it. On the other side, I think that it is much better to set financial freedom as a target which would be more realistic to accomplish
Yes; it’s all about trader’s choice! But making only huge money; can’t be a target at all; if you following this type of target; then definitely you’ll suffer!
There is no free lunch on Forex market. If you want to become rich, then you need to work really hard to reach your goal. It might take you even several years to reach this point with significant amount of capital invested and excellent strategy which can bring profits to your account
Getting rich is not an easy task in forex actually. Forex trading has always been a challenging task for any person. Time consuming fundamental analysis, tricky technical analysis, long trading planning and proficient use of money, etc. all have made forex trading a combination of toughness in reality. But those traders who know this fact and still they have come here are the real fighter. Some risks are always associated with forex trading.
Forex trading is no doubt a lifestyle Changing business you have to be very patient and keep an eye on the market conditions greed is a human emotion and its nature but trader should focus on stop loss , managing money and managing risk instead of greed ,this diversion definitely helps
99 % of forex traders fail , they become broker's stooges and end up on forums, as pretender traders. Their job is paid forum posters, promoting forex to unsuspecting new traders , creating a fake positive image on forex.
If we consider that the essence of earning on forex is to buy and sell currency at random, and on this limit, then once you get to the market and make only a few transactions, you can easily spend your deposit and decide that it is impossible to earn on forex. This is what many newcomers think, who do not have any theoretical and practical skills and perceive Forex trading as a lottery game. But those who are called professionals, they have some common features, after analyzing which you can understand how to make money on Forex. First of all, you need to learn to control yourself and gain experience. Secondly, you need to choose the right broker, which will be reliable and convenient. So, to earn money you need to make efforts, but it is possible.
Being a consistent player is the real challenge here! There is no shortcut way; only knowledge is real here!
Basically, you may notice good traders always focus on treading process instead of mindset, that’s the winning mindset indeed!
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