How Forex Trading Can Make you Rich?

CyberWarrior said:
You need to learn a lot before earning, enough knowledge would be required to become successful in Forex Trading.
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I think as trader need to struggling if want to achieved success, struggle with never give up, but also need to carefully, because forex trading is risky and more risky if any trader play forex recklessly
 
victorycountry said:
Taking a short position is not appropriate trading/investment strategy. It's like you're hoping for someone go down the hill. That's not a good mindset :) Short positions are introduced to the market for commercial traders to hedge their price risk, not for trading/investment purpose.
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Not many choose short term but newbie choose it for trading as they are knowing the fact of short term risk. Once getting experienced he can develop mind according to long term strategy.
 
Esha.J said:
Not many choose short term but newbie choose it for trading as they are knowing the fact of short term risk. Once getting experienced he can develop mind according to long term strategy.
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Why do you say that not many people choose it? I agree, it's the common way for newbies, as intraday trading is fast an traders can see the result in the short time. But I know quite enough traders who open short-term transactions and they are ok with them.
As for me, I try to combine both short-term and long-term trades. Anyway, it's the question of your trading system. If it allows trade for weeks or months, and it really works, why not? If you think that taking 20-30 pips is possible on a certain pair in 10 minutes, why not? If the risk management is planned well, I don't see any problems
 
CyberWarrior said:
I think Practice is the key to become successful and also it is the only way to be rich, in Forex Trading.
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Might like as many people said with practice will make perfect, in trading we can free using short term and long term plan trading but I think we also learn what plan that more effective to making better result
 
Peter brandley said:
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.

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By owning and promoting a tout service, becoming a FOREX dealer, etc
 
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777 said:
By owning and promoting a tout service, becoming a FOREX dealer, etc
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Forex in my view is included speculative investment,but very promising, as trader they can making trades and trying catch profit from difference price movement, for broker they get commission from spread by their client because giving service, as IB they get commission from broker if they get many client using specific link or referal link
 
Trading can be very profitable with a lot of practice like a lot of other people have said but it really does take time. Using a demo for a LONG time is very important. It sucks to start trading and then lose all your money in a week or so
 
BikerTT said:
Trading can be very profitable with a lot of practice like a lot of other people have said but it really does take time. Using a demo for a LONG time is very important. It sucks to start trading and then lose all your money in a week or so
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Yes I think good as early preparation before investing in real account, I am remember as beginner also too much excited to start trading real after reading on theory that seems easy, but only use demo account a week then trying on real account with small money but fail and get margin call only three day trading
 
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