How Forex Trading Can Make you Rich?
- Thread starter Peter brandley
- Start date
You could always ask 100 traders on some forum such as forexfactory, myfxbook, how many are profitable and how many aren't. The key to this would be truth and not ego. However I think the number be around 95% 98% are unsuccessful. Yrs ago i remember reading some analysis which stated 98% loose in FX , average loss $13,000 and they give up within two yrs.
You also have to ask yourself why brokers promote scalping methods etc. . Commissions come to mind.
You also have to ask yourself why brokers promote scalping methods etc. . Commissions come to mind.
Some if not all with a sizable account capital are making it big with Fx,One thing I find amusing with the market is anytime someone make it big ,some one on the other hand had made some losses big time .Its all about the know how ,funds at hand and experience to hit it big like the pros do .The online Forex Market has made many people thousands of dollars, or even millions of dollars, richer. It is becoming increasingly popular with the people who understand it and know how to work the system. People are spending less time doing tedious work and earning more money legitimately with online Forex Trading.
What do you say friends? put your comment please.
The percentage for being unsuccessful is that because of the 'get rich quickly '' perception people come into FX with . Just read of a university student who recently lost all of his school fees just because he thought he could double the amount within some weeks to a month trading.Now just take a look at this
The percentage for being unsuccessful is that because of the 'get rich quickly '' perception people come into FX with . Just read of a university student who recently lost all of his school fees just because he thought he could double the amount within some weeks to a month trading.Now just take a look at this
He was mostly reading all these forums and believing all the BS thinking it's easier than it actually is. Then a slick broker told how much he was going to make, forget about the losses, they only happen to everyone else.
Can you please at least try and put some worthwhile content in your statements Do you think you are posting to idiots??? That's a most basic statement What about buy low , sell high... OMG.
Consistent Profits.cough cough, What about expectancy of your system?
May be you are not understanding what it means that forex is not a zero-sum game like stocks or futures.
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FX is a zero sum game because it is a speculative market. And like all speculative markets is simply transfers risk from winners to losers. Fx seems to attract the most delusional get rich quick crowd. fx leverage is the huge block of cheese in the rat trap that suckers in the novice greedy and way under capitalized crowd trying to over compensate with being under capitalized by using the max leverage - very few of them stand a chance.
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FX is a zero sum game because it is a speculative market. And like all speculative markets is simply transfers risk from winners to losers. Fx seems to attract the most delusional get rich quick crowd. fx leverage is the huge block of cheese in the rat trap that suckers in the novice greedy and way under capitalized crowd trying to over compensate with being under capitalized by using the max leverage - very few of them stand a chance.
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Let just re-read the brokers and their auditors own statements :
30 % of forex trading accounts are PROFITABLE.
Now, they are not saying to us :
- if the majority of these profitable accounts have been traded over 3 years.
Thus leaving the majority of the losing accounts amongst newbies.
- they are not telling us the sizes of the profits. It could be 1000$ profits and it would
still be considered profitable. Obviously, there are some mega winners , but what is
the proportion among these 30% profitability.
A trader winning does not mean for the person to win, another trader has to lose :
the money from forex comes straight from central banks printing machine.
A trader winning in stocks does actually mean that for the person to win, another trader has to lose:
the money from stocks comes from a transfer of funds from traders to traders. Zero-sum game.
Just a different perspective.
30 % of forex trading accounts are PROFITABLE.
Now, they are not saying to us :
- if the majority of these profitable accounts have been traded over 3 years.
Thus leaving the majority of the losing accounts amongst newbies.
- they are not telling us the sizes of the profits. It could be 1000$ profits and it would
still be considered profitable. Obviously, there are some mega winners , but what is
the proportion among these 30% profitability.
A trader winning does not mean for the person to win, another trader has to lose :
the money from forex comes straight from central banks printing machine.
A trader winning in stocks does actually mean that for the person to win, another trader has to lose:
the money from stocks comes from a transfer of funds from traders to traders. Zero-sum game.
Just a different perspective.