Can forex trading make you rich ?
Member Since Sep 12, 2015
1948 posts
Jul 04, 2018 at 19:29
It's a great business model, constant income ,keep churning clients when it goes flop ,courses are in big demand no downside as most are education only not investment advice, lots of ex city boys who made it big in the boom in a one way market ,now they can't trade to make 10% a year lol.
"They mistook leverage with genius".
Member Since Mar 02, 2017
50 posts
Jul 05, 2018 at 06:07
Zoki posted:You are correct! Studying 4 hours a week, not a day.Arcferreira posted:
Forex can make you rich easier than a lot of things... but you need at least something like 10.000 hours of study and practice to master something.
I am a doctor. My Medicine graduation had 6 years, studying at least 50 hours per week. (6 x 50 x 50 = 15.000 hours). After that, I spent 3 years to become a Surgeon (3 x 80 x 50 = 12.000 hours) and another 2 years to become an ICU doctor (8.000 hours). After 40.000 hours studying and working , I became an expert. My wage? 240.000 USD/year.
You will not master Forex trading without effort... I am studying technical analysis for near 4 years, 4 hours a day... (4 x 50 x 4 = 800 h). After 800h I can make easily 3-5% monthly, with low DD. Over 150.000 USD? 90.000 USD/year
After that, I wonder why I spent so much energy in Medicine...
Only 800 hours of trading in 4 years, trading 4 hours per day? Hmm, maybe you mean 4 hours per week? Otherwise I would be wondering how can you do medicine job AND 4 hours of trading day every day... ;)
Z
Trade safely... Remember, a high Drawdown means a high risk!
Member Since Mar 02, 2017
50 posts
Jul 05, 2018 at 07:32
snapdragon1970 posted:
It's a great business model, constant income ,keep churning clients when it goes flop ,courses are in big demand no downside as most are education only not investment advice, lots of ex city boys who made it big in the boom in a one way market ,now they can't trade to make 10% a year lol.
Go to www.udemy.com and type Forex. There is a guy called Kirill Eremenko that sold 533.000 courses at least 10 USD each. Yes, Forex made this guy rich (533.000 × 10 = 5.330.000 USD).
Yes. Forex can make a lot of people rich!
Trade safely... Remember, a high Drawdown means a high risk!
Member Since Jan 25, 2010
1360 posts
Jul 05, 2018 at 09:23
(edited Jul 05, 2018 at 09:37)
Arcferreira posted:
Go to www.udemy.com and type Forex. There is a guy called Kirill Eremenko that sold 533.000 courses at least 10 USD each. Yes, Forex made this guy rich (533.000 × 10 = 5.330.000 USD).
Yes. Forex can make a lot of people rich!
Your free publicity here has just helped make him a little bit richer. 😁
The discerning factor is: how long did it take him to reach this level? 4 years 2 months to make $5.3 million? (https://www.linkedin.com/in/keremenko/)
Trading could compound returns much higher, sooner.
This thread asks if TRADING can make you rich: selling products, education and subscriptions is related but NOT trading. 😐
Member Since Jan 25, 2010
1360 posts
Jul 05, 2018 at 14:10
(edited Jul 05, 2018 at 14:16)
snapdragon1970 posted:
It's a great business model, constant income ,keep churning clients when it goes flop ,courses are in big demand no downside as most are education only not investment advice, lots of ex city boys who made it big in the boom in a one way market ,now they can't trade to make 10% a year lol.
Can forex sales make you rich?
Most definitely. Little downside risk (eg. the odd refund).
Can forex trading make you rich?
The jury is still out... 😁 (for every profitable trader, there are at least nine unprofitable traders).
Member Since Mar 02, 2017
50 posts
Jul 06, 2018 at 10:34
BluePanther posted:snapdragon1970 posted:
It's a great business model, constant income ,keep churning clients when it goes flop ,courses are in big demand no downside as most are education only not investment advice, lots of ex city boys who made it big in the boom in a one way market ,now they can't trade to make 10% a year lol.
Can forex sales make you rich?
Most definitely. Little downside risk (eg. the odd refund).
Can forex trading make you rich?
The jury is still out... 😁 (for every profitable trader, there are at least nine unprofitable traders).
I agree with you!
100% of newbies think they will be the next Soros. After 1 month, 40% gave up, after 1 year, 80% are out. Only 7% stay trading for more than 5 years. And just 1% are able to profit in a regular basis.
What that means? Resilience and work are the key for everything. Learning is an exponential curve! In Louvre Museum, I learned that any sculpture was done in 5-10 years of work, for someone that studied the same time to do them...
I spent near 40.000 hours of my life to be an expert in Medicine. I needed ten years to apply for a black belt in Judo.... nothing comes easy!
Trade safely... Remember, a high Drawdown means a high risk!
Member Since Jan 25, 2010
1360 posts
Jul 06, 2018 at 11:21
(edited Jul 06, 2018 at 11:23)
Arcferreira posted:
I agree with you!
100% of newbies think they will be the next Soros. After 1 month, 40% gave up, after 1 year, 80% are out. Only 7% stay trading for more than 5 years. And just 1% are able to profit in a regular basis.
What that means? Resilience and work are the key for everything. Learning is an exponential curve! In Louvre Museum, I learned that any sculpture was done in 5-10 years of work, for someone that studied the same time to do them...
I spent near 40.000 hours of my life to be an expert in Medicine. I needed ten years to apply for a black belt in Judo.... nothing comes easy!
True, nothing comes easy - except if you discover an automated system that always works.
It took me ten years to find, but had I discovered it in the beginning I would be miles ahead today.
Trading is not as hard as the so-called 'experts' would have you believe. 😉
Can forex make you rich? I emphatically tell you YES! 😎
Member Since Mar 02, 2017
50 posts
Jul 08, 2018 at 06:01
BluePanther posted:Arcferreira posted:
I agree with you!
100% of newbies think they will be the next Soros. After 1 month, 40% gave up, after 1 year, 80% are out. Only 7% stay trading for more than 5 years. And just 1% are able to profit in a regular basis.
What that means? Resilience and work are the key for everything. Learning is an exponential curve! In Louvre Museum, I learned that any sculpture was done in 5-10 years of work, for someone that studied the same time to do them...
I spent near 40.000 hours of my life to be an expert in Medicine. I needed ten years to apply for a black belt in Judo.... nothing comes easy!
True, nothing comes easy - except if you discover an automated system that always works.
It took me ten years to find, but had I discovered it in the beginning I would be miles ahead today.
Trading is not as hard as the so-called 'experts' would have you believe. 😉
Can forex make you rich? I emphatically tell you YES! 😎
Surgery is not so difficult as surgeons make you believe...
The same for forex trading...
The hard thing is study, learn and practice... for surgery, for forex, for everything in life...
Even a robot, to find or create one useful, you must study, learn and test...
Trade safely... Remember, a high Drawdown means a high risk!
Member Since Jan 25, 2010
1360 posts
Jul 12, 2018 at 07:54
FIND the right (simple) system, and you can be rich WITHOUT:
- studying / learning anything;
- working at 1x 2x 3x JOBs - Just Over Broke;
- searching / working on a super-dooper unique EA;
- having 0 social life;
- losing friends and family;
- becoming a recluse;
- suffering mental, emotional, physical, financial stress;
- losing $500,000++ on bad investments
- losing sleep;
- losing health;
- losing confidence, interest, motivation in life;
- losing ten years of life.
T.S. Eliot said, “The journey, not the destination matters...”, but for what I 'gain' is it worth all the costs?
“If all you have is money, you are among the poorest people in the world. You only become truly rich the day you possess something that money cannot buy.” ― Matshona Dhliwayo
- studying / learning anything;
- working at 1x 2x 3x JOBs - Just Over Broke;
- searching / working on a super-dooper unique EA;
- having 0 social life;
- losing friends and family;
- becoming a recluse;
- suffering mental, emotional, physical, financial stress;
- losing $500,000++ on bad investments
- losing sleep;
- losing health;
- losing confidence, interest, motivation in life;
- losing ten years of life.
T.S. Eliot said, “The journey, not the destination matters...”, but for what I 'gain' is it worth all the costs?
“If all you have is money, you are among the poorest people in the world. You only become truly rich the day you possess something that money cannot buy.” ― Matshona Dhliwayo
Attachments:
Member Since Jan 25, 2010
1360 posts
Jul 12, 2018 at 07:57
“While wealth will be a capricious shadow to our lives, true riches lie in strength of character; that is infinitely harder to accumulate. It is the only gold that enhances our potential in terms of what we can offer the world.” ― Salma Farook
Member Since Jul 12, 2018
12 posts
Jul 12, 2018 at 09:56
What system are you using?
Jul 16, 2018 at 11:53
BaldoN posted:Nice explanation just with few words.
I see Forex as a 'Math'. If you apply the formulas correctly & combine it with risk management = you will solve the task properly. If you solve the task properly = it will generate excellent results :)
Member Since Apr 18, 2018
17 posts
Jul 16, 2018 at 13:50
Very impressive Matt. You broke the rock.
Member Since Jan 25, 2010
1360 posts
Jul 17, 2018 at 05:54
NoahMartin posted:
Very impressive Matt. You broke the rock.
Thanks. 'Broke the rock'? Broke the bank? Squeezed so hard I finally got blood from a rock? Sorry I don't understand you.
BaldoN posted:
Yea, I like this kind of screenshot :) Can you share more info about this system ?
I posted to prove a point, not advertise a system. Please understand, trading is not so hard. Give yourself permission to win.
ChristianWay posted:
What system are you using?
I posted to prove a point, not advertise a system. Please understand, trading is not so hard. Give yourself permission to win.
Member Since Feb 22, 2011
4862 posts
Jul 17, 2018 at 11:33
BluePanther posted:
FIND the right (simple) system, and you can be rich WITHOUT:
- studying / learning anything;
- working at 1x 2x 3x JOBs - Just Over Broke;
- searching / working on a super-dooper unique EA;
- having 0 social life;
- losing friends and family;
- becoming a recluse;
- suffering mental, emotional, physical, financial stress;
- losing $500,000++ on bad investments
- losing sleep;
- losing health;
- losing confidence, interest, motivation in life;
- losing ten years of life.
T.S. Eliot said, “The journey, not the destination matters...”, but for what I 'gain' is it worth all the costs?
“If all you have is money, you are among the poorest people in the world. You only become truly rich the day you possess something that money cannot buy.” ― Matshona Dhliwayo
While I am glad you made the breakout and be successful I see the account started last month.
Such fresh systems often stop working after 3-6 months [own experience]
Member Since Jan 25, 2010
1360 posts
Jul 18, 2018 at 07:06
togr posted:
While I am glad you made the breakout and be successful I see the account started last month.
Such fresh systems often stop working after 3-6 months [own experience]
Yes, early days. We shall see... thanks. 😁
Jul 18, 2018 at 10:48
Really Forex is too much tough for the traders who are in particularly newbie. So, obviously a new trader should work hard to achieve the market easily. they should make a best strategy for themselves . they should spend most of their time in analyzing Forex market because it will increase their knowledge of analysis. They also should practice much on demo account to make their trading easy. Then they should choose a right and reputed broker for them .
