How to become rich in FOREX trading? Instead of getting by? - page 10
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I get the feeling that recent post didnt understand the problem in full detail.
If you want to pay your living expenses from trading, you have to withdraw.
So you can't increase your lot size over time.
To live from trading + have additional capital which allows lot increasing (respecting money management)
you need a certain minimal amount.
That is a problem i experienced too, that is why i shared my soloutions i found in my previous posts.
I get the feeling that recent post didnt understand the problem in full detail.
If you want to pay your living expenses from trading, you have to withdraw.
So you can't increase your lot size over time.
To live from trading + have additional capital which allows lot increasing (respecting money management)
you need a certain minimal amount.
That is a problem i experienced too, that is why i shared my soloutions i found in my previous posts.It was always like that : without big enough initial capital you can not generate decent income (withdrawals) . That is counted on : people are forced to increase the risk (now even more with tight spreads - remember that is was done with USDCHF to prevent Asian session successful scalping - now they just extended that to all symbols) and with increased risk they are just going to lose
Take an example : 1 million users with $100 that they will lose in not time will generate $100.000.000 for the broker. And with the addition of HFT companies owned by that same broker, the time to make that ha[[en is shorter and shorter every day
So, no, we can not get rich from forex IF WE ARE NOT ALREADY RICH
I get the feeling that recent post didnt understand the problem in full detail.
If you want to pay your living expenses from trading, you have to withdraw.
So you can't increase your lot size over time.
To live from trading + have additional capital which allows lot increasing (respecting money management)
you need a certain minimal amount.
That is a problem i experienced too, that is why i shared my soloutions i found in my previous posts.It was always like that : without big enough initial capital you can not generate decent income (withdrawals) . That is counted on : people are forced to increase the risk (now even more with tight spreads - remember that is was done with USDCHF to prevent Asian session successful scalping - now they just extended that to all symbols) and with increased risk they are just going to lose
Take an example : 1 million users with $100 that they will lose in not time will generate $100.000.000 for the broker. And with the addition of HFT companies owned by that same broker, the time to make that ha[[en is shorter and shorter every day
So, no, we can not get rich from forex IF WE ARE NOT ALREADY RICH ... or a broker
The question: "How to become rich in FOREX trading" is a bit complicated. I think that FOREX is not a way to become rich for the most of people, because only a little group of people have enough skills to trade at this market and often you should be a programmer because this is a very tech market and the skills of programming algorithms is very useful to analize big data arrays, optimize trading and create a realy profitable trading strategy, and typically this is a big business with big expenses. So today FX trading is a hard job for those who chose this way of earnings as a main activity. For all other typical (especially manual) FX traders this is a very risky way of earnings, so it can be used only as secondary activity it is recommended when you put funds at your trading account that you are willing to lose completely. Also when you trade manualy it is better to use more long-term strategies (HFT is not for manual traders) when you will have enough time to analize the market, make a decision and understand when you were wrong.
For all that are looking for 100s of %, please read this article (it is enough just to read the title actually) : Warren Buffett Will Earn A Whopping 9% Per Year On His Burger King Investment
99.99% would not be satisfied with 9% a year
For all that are looking for 100s of %, please read this article (it is enough just to read the title actually) : Warren Buffett Will Earn A Whopping 9% Per Year On His Burger King Investment
That is the rile No 1 in forex : you van not get rich if you are not already rich
There's no easy route, at least for me. I always live by the rule that says, slow and steady will beat everything else.
I think it is highly dependent on the capital that a person is using i mean 9% on $1k is surely not worth but if this 9% is with $100k than that is almost 9k profits honestly if anyone person is offered that much with this investment he will accept it instantly.
where I live 9K is a pocket change...just saying...
That us what the brokers are counting on : low funding, big risks, a lot of people thinking "oh well O lost just a couple of hundreds of $" - easy money for a broker