Hi Guys - I heard some of my friends says Forex is really good in terms of money making or great income…Can anyone share successful stories and experienced and how you are now with Forex…Is this really true that we considered Forex as a Money Maker Machine?
Thanks a lot!
No! Forex is not a money-maker machine (please don’t believe in any of these suggestions). Despite this, it certainly offers excellent opportunities for both traders and investors to benefit substantially.
Dude, forex is the hardest way to make money online. What you have been told is big HYIP. Forex can make you money for sure. However, you must be ready to open your brain to accumulate enough information, straighten your fingers to open/close trades at the right time, and open your eyes to diligently watch the market. Does that seem like an easy way to make money? It will only become easy when forex has become part of you.
Yes, Its True. Forex is also one of the most liquid markets. When forex on the spot Foreign exchange industry you have full control of your capital, meaning that you can buy and sell your roles anytime during industry open period. This is a definite advantage because, if you need to use your account cash, it can be utilized immediately without additional commission or waiting times. Many other types of investments require holding your cash up for rather long periods of time.
Or your friends are rough traders or complete liars. I see it something more like something that pays off a bit higher than inflation. It is like a savings account with interests a little higher.
Eh… There’s a winner and a loser in every transaction. Forex is certainly not a “money maker machine”… You need to treat your trading like a business - with discipline - but you also need to have a passion for Forex. There’s a lot of success stories on here and other sites where the poster claims to have 1000% or higher annual return… Unsurprisingly and conveniently enough, they have zero proof of their claims.
As to what is realistic, from my experience anywhere from 0% 200% annually is perfectly reasonable and achievable by quite a few traders. Anything above that is certainly possible, but the trader who can claim to do so is a very talented and rare individual indeed. Keep in mind the majority of traders will be in the -100% to 0% range, however, and the majority of winners in around the 0% to 20% category.
What is the point then, if mediocrity is all you aspire toward? You could just buy and hold SPY or any broad-market index fund and achieve better results than inflation - almost 8% annually on average. Why spend the time actively trading Forex, when you could generate better results by passively investing and forgetting about it?
For the taste of success, the satisfacton of making money and not money itself. And for having something else to do. There is people who actually live from trading, that is just not me. Is the sense of achievement that finally keeps me on going. What I do is to gather money and trade it and when it is big enough I withdraw my funds and start it all over again next month.
Ah. To each his own I guess. Almost every trader I know has dreams of one day quitting their job and enjoying the (sometimes) wonderful world that is self-employment. Very rare that one actually achieves that, but rarer still to find someone who doesn’t dream about that in any capacity. But, sounds like you set logical goals which you are able to achieve - a lot more than many can say. :13:
Something like that, yeah!!!
I strongly agree it is not a machine or something like that, it is a business with loss and profit in it. To succeed in trading and earn profits it is not easy work that needs hard studying and hard-working till getting the best experience.
It isn’t a ‘machine’ that either takes your money. It’s a place where you can exchange currency. If you have a systematic way of approaching the market where you consistently time your buying and selling with the way exchange rates actually move, you might have a chance of consistent profits. If you’re trying to speculate and are unprepared, it’s almost definitely a losing prospect for you.