How Forex Trading Can Make you Rich?

[radex78]

Not at all, I think Forex Trading, is the best way to make some good money, but it is not at all a casino. We need lots of things to learn, and if we rely on mere luck, we will lose it all.

This is different with casino in my view, forex included business that required experience and not only relying with luck although this is included as speculative investment, we can manage the risk although can't control the market

 

[doggyfx]

Not at all, I think Forex Trading, is the best way to make some good money, but it is not at all a casino. We need lots of things to learn, and if we rely on mere luck, we will lose it all.

And what trading strategy can you recommend for newbie traders to start from?

 

[geedy]

And what trading strategy can you recommend for newbie traders to start from?

I think learning first and trading with a demo account would be a good one, then when you feel ready start with small fund trading real account.

 

[doggyfx]

I think learning first and trading with a demo account would be a good one, then when you feel ready start with small fund trading real account.

Oh yes but its evident. What about the method of entry and exits? How to figure out when and where market gives you a clear signal or opportunity to earn?
I use simple S/R with Hotforex although it is slightly better than random I'm in search for better strategy to trade.

 

[CyberWarrior]

And what trading strategy can you recommend for newbie traders to start from?

Newbie can start with Demo Trading and after much Demo Practice, they can start trading with small investments, through which they can gain experience of the real market and then as the confidence level increases, you can increase your investment.

 

[ally]

Newbie can start with Demo Trading and after much Demo Practice, they can start trading with small investments, through which they can gain experience of the real market and then as the confidence level increases, you can increase your investment.

Absolutely right. It is always beneficial to initially start with only that amount which you can afford to lose. As beginning can be rough at times due to involvement of emotions and other psychological factors, disrupting the trading pattern thus leading to huge loses.

 

[doggyfx]

Remember guys, there is no shortcuts or get-rich-quick schemes that can be obtained for free or even for money, because selling working strategy is basically destroying it. The more traders gain access to it, the less chances it has to remain working over a long period of time.

 

[radex78]

Remember guys, there is no shortcuts or get-rich-quick schemes that can be obtained for free or even for money, because selling working strategy is basically destroying it. The more traders gain access to it, the less chances it has to remain working over a long period of time.

Yes as long as my experience forex trading is not easy way to get earning, sometime loss occured, but some trader said if they can making good profit using ea and might possible if they already test ea for long time

 

[mr.taylor]

Remember guys, there is no shortcuts or get-rich-quick schemes that can be obtained for free or even for money, because selling working strategy is basically destroying it. The more traders gain access to it, the less chances it has to remain working over a long period of time.

Absolutely there is no shortcut to get rich in forex trading or you can say it is not a get rich quick scheme. EA’s are a good option but there is always a chance that it may not work in long run. Testing these EA’s before going live on demo accounts can be recommended.

 

[radex78]

Absolutely there is no shortcut to get rich in forex trading or you can say it is not a get rich quick scheme. EA’s are a good option but there is always a chance that it may not work in long run. Testing these EA’s before going live on demo accounts can be recommended.

So many ea created by martingale system, and most of this type ea usually will fail eventually, so if relying on ea also need backtest then forward test and also sometime ea created with expired date and need to updated, usually this ea is product with cost to buying so as seller also they want to get income from selling ea