Could you please explain why you invest so much time and money on learning to ‘succeed’ in forex?
why not ??
who said the chance are slim ??
it’s not well said but it’s a fact ironically. :).
many newly traders buying this thought, but the internet also feed with many success story.
what happen is, the new traders rush in hurry, buying EA they know nothing about. register expensive forex training, while the mentor are honestly not a trader but only made a living upon forex training.
why the chance is slim ?? because there’s only a few realize this kind of fact… a very few… slim enough to say this only slim amount of people who really got their succed by putting own effort, harsh training, rarely sleeping.
do you willing be joining those slim society or not ?
Why does one go to university. Spend 10’s may 100’s of thousand of dollars. Study for 4, 6, 8 years. Do I need to go on.
In many senses the business of speculating is one best models out. No overheads. No employees. No inventry. No customers. Do I need to go on.
You say chances are slim. The glass is half empty. My view is that “if” 90% of “traders” fail and if 90% of all business fail in the first 2 years then the chances are 90% of of those who started 3 1/2 years ago with me have failed leaving only ME HOORAY.
But I’m only that far into my journey. Still along way to go. But you learn a thing or two after a while. That scares some people.
Sorry but a bit of a dumb as questin bro.
Firstly, anything you want to do will cost you time and money. As far as success, you’ll find every trader has their own definition of success, so you have to ask your self what is forex success to me. To be a successful full time trader takes much more time, money and effort than someone who is trading part time to earn a little extra money, or the university student trading in university, cause when they finish they want to do be in financial services.
The other things successful traders and successful people in general are not only the numbers of failure, but just as importants the whys.
The success part of FOREX has nothing to do with attaining wealth, or mastering the markets.
It has everything to do with discovering who you are as an individual.
Trading isn’t you vs. the market.
It’s you vs. you. The rawest challenge you can subdue your mind to.
Literally, the ability to make an infinite amount of money is at your fingertips.
Yet, the “success” rate is so dismal…why do you think that is?
What does that tell you about human beings as a whole?
Some of the answers so far have been spot on.
The chances of succeeding in any business are more or less the same as the chances of succeeding in forex. Stick at it and judge yourself on a year over year performance like you would for any other normal business.
This post should be framed in gold…
Could you please explain where do you invest your time and money and why. Chances to succeed in anything in your life are the same like in forex trading. It all depends of you.
This is one of the best threads I’ve seen here in a while… Great thoughts here everyone! Nothing is guaranteed. And trading is more than systems and good risk practices. It’s also about laser focus and consistent execution. The best system or business in the world can’t help bad and/or inconsistent execution.
For me, it’s a simple matter of having tried many other ventures and found the most success in forex. That’s not to say that I’ve been enormously successful at it, just more successful than by other means. I am motivated by the fact that if I fail as a trader, my only viable recourse is to return to my previous career, and that gives me nightmares.
Why are you here? 
I know of a master who spent 4 years in engineering work for government sector for 20 years. Given the Golden handshake. Spent his golden years driving taxi. He is 55.
I know of a brain surgeon. Spent a decade studying. Spent another decade work his way to be the top surgeon in a private hospital. Got multiple properties. Change wife 3x. Spend his hard earn money on material and alimony. He is 55.
I know of a man. Who spent 3 years getting a computer engineer diploma that doesn’t utilize when he is working. Spent his time surrounded by people who are not of his country. Work his tail off in blue collar job. Earns more than his degree holding peers. Loss alot of money in business and venture into forex. Also lost alot. But never gives up. Spent the last 7 years perfecting his skill into an art. He is is no where near the above examples. But he knows he is earning his own keep. Doest depends on other people for money. For food. But he believes he will be better.
Not being anything here. I’m I’m from Singapore. Globalization is everywhere. nearest to hit is my home in 2000. You are expendable. There is no loyalty or recognition in where I live. Capitalism is king.
I’m not there yet. But when I’ve hit my milestone. I’ll be here to share.
Peace.
haha why doubt what thousands if not millions of people are doing (trading forex) why say the chances are slim are you try to achieve 1 million over night? yeah chances are slim then, but if you think about it, try setting smaller goals, first 1000 dollars, frst 10000 dollars these are very doable and not even impossible. i started forex with hotforex 3 years ago witha mere 150-200 bucks and not i have my self a decent sized account. coz its doable. thats why, all you have to do it actually try.