August 25, 2011
Can you get rich from Forex trading?
By Planet Wealth
Anyone here who has had regular success?
hey edgar*, that’s an inspiring tale!
Topics: trading tips | 7 Comments »
7 Responses to “Can you get rich from Forex trading?”
Comments
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August 25th, 2011 at 3:09 am
I haven’t done Forex Trading, I teach PennyStocks Trading and I daytrade it as well, but I have two friends who are nearly retired and have already about 10 homes rented out in Vegas started off doing JUST forex. THey’re 25 years ancient, and they started with 30,000 and now they’re netting about 2.5 mill a year. They did it together, one guy slept the first 12 hours, and then he woke up, and the other took over, cuz you can trade Forex 24 hours, but you have to be VERY excellent in terms of knowing what goes on in a particular country and their economics, political issues, bond rates, etc….It’s the toughest, but it’s the most rewarding.
August 25th, 2011 at 3:09 am
u could if u are a excellent market watcher or get yourself a excellent broker
August 25th, 2011 at 3:09 am
I personally didn’t but that is only because I had to stop, I was unable to continue trading. But I know of people who have. It’s very simple to learn how to do.
August 25th, 2011 at 3:09 am
All the infomercials say you can……so why not believe them? They are soooo very wise.
August 25th, 2011 at 3:09 am
Yes, you can, but only professionals do because they have the info, smarts, and contacts.
It’s pretty much a "zero sum" game. What they make is what you (the amateur) lose.
Those that became "rich" are not hanging around answering Yahoo Q&A.
August 25th, 2011 at 3:09 am
If you are not already a rich person I suggest you to stay away from Forex.
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August 25th, 2011 at 3:09 am
It is a possibility to earn a large amount of money doing forex trading. Earning this money will depend on various factors such as how much money your willing to place in and experience.
Being successful in the Forex market requires plenty of practice and learning and any loss you make, what ever the amount is just another opportunity to learn and pick yourself back up.
It is also vital to have a plot set out which will help you incase of unusual movements in the market. Sometimes developing a trading plot may require trial and error, but as you continue to trade, you will gradually have a better grasp of the market. Even after developing a plot, you must also remain flexible just in case your plot may not be able to hold you up. Playing it safe means using money you can afford to lose, because your money is the only way to keep you afloat in this market.
The usage of charts and indicators may help you making better decisions when in the market.
All these factors take time to learn and develop, but if you take all of them into consideration, it is very possible to earn a excellent living by trading in the foreign exchange market.