Is Forex, a quick way to make money.

[eng/ali]

Forex is not a quick way to make money, if you know little about it to start off with. It could take months or sometimes years, of practicing with virtual money before you should try real money
I agree as well, there is nothing such in forex that make you rich quick
u must have very big experiance in forex

---------- Post added at 11:47 PM ---------- Previous post was at 11:44 PM ----------

forex is not quaick way to make alot money
u must have very big experiance

[kemmy]

forex should not be seen as a quick way to make money. You can as qquickly make money in forex and as quickly lose it.forex should be seen as business that requires diligent effort and resilience. hardwork and dedication is required.

[abasaya]

Want to be rich within a quicker time is the first step to lose money. Actually a wise man who knows Forex well never try to become rich in a quicker time. You should follow money management. Remember Forex is a way, if you walk slowly success is yours and if you try to run you must fall down.

[roman_mir]

I don't think that its a quick way to make money. To make money in Forex one should wait. Because there is lot more things that should learn to become a successful trader for earn. Practical experience and professionalism is also required.

[ak470]

The trading tips below will work well for traders who want to catch the big profits from the big currency trends that last months or years and will help you make money fast in forex trading.

1. Accept Volatility and Risk

All good FOREX traders understand that volatility and risk mean big money making potential.

You can't have a profitable FOREX trading method without taking risk, you need to risk more to gain more. .

Risk though is misunderstood by most currency traders and they try and limit risk so much that they actually have no chance of making any profits.

They always get stopped out.

The perfect example is the day, or intra day trader, trading in one session with a tight stop.

If you are after a big gain give the trade room to breathe and place a stop that takes into account market volatility.

Also don't trail your stop to quickly leave it far enough behind not to get stopped out by volatile reactions within the long term trend.

You can't predict volatility in the day so don't try.

Look longer term take bigger calculated risks and go for bigger profits and trade less.

2. Trade Infrequently

Many traders trade frequently and always like to be in the market, they fear they will miss a move, or that by trading more frequently, they will make money.

There is no correlation between how often you trade and how much money you make, so learn to be patient.

The big moves in FOREX trading, with the best risk to reward, come a few times a year, and you should trade infrequently.

Focus on the trades that make the really big gains and be patient while you wait for them.

3. Don't Diversify

Diversification is a great way to make money slowly not fast you simply are diluting your gains, if you are trading a small forex account.

Focus only on trades that you are confident can make big money in and don't hedge or take other trades.
If you think the trade is going to be big back your judgment.

4. Money Management

We are looking at the BIG opportunities that allow us to make big gains, and this is actually, where money management becomes important.

Where taking calculated risks here not just taking risk for the sake of it.

The tips below are a great way of controlling risk

1. Buying options at in or close to the money, they will give you staying power and stop you getting taken out by volatility.

Be careful not to buy out the money options and make sure that you get plenty of time on your side if using this method.

Many traders lose, not because they were wrong about the trend, they simply got stopped out.

Options overcome this problem and will give you staying power.

2. Many traders start trailing their stops to close as we said earlier to lock in a profit, more often than not they get stopped out.

The trade runs on to make thousands more in profit and there not in it!.

Keep your stop in its original position and let the move develop without the temptation to move your stop up.

You're looking to make money fast, and you're trading selectively so have the courage of your conviction .

Consider this

The fact is in currency trading or any other venture in life that involves making big gains you have to take a calculated risk at the right time and have the courage to go for it.

I read all the time about risk management in trading and some traders become so obsessed with not losing they will actually never win and lose their equity over time.

Don't make the same mistake.

[Jakiul]

Forex is not a scam or scheme for getting rich quick. It is a trading platform where you can both earn or loose money. You have to do lot of hard work to earn form this trading. You need to prepare yourself for long before you enter this market and begin to earn, In my opinion, Forex is surely a place that can earn your living, But it is not a place that can make you millionaire in a quick time.

[diljaladj]

Yes without a doubt forex trading is the quickest way to make/earn money yet its not a gamble or guessing thing you must be spot on with your knowledge to be successful otherwise losses are as heavy as profits.

[emonnat]

Yes i am agree with you but it is a matter of self conscious. you will be a gainer for spent few time with Forex Trading.

[hacene]

Hello. Yes, there is no such thing in the foreign currency that will make you rich quick, but more than the profit that business any more danger you're gonig to-face, dealer wise to grow slowly by earning a profit for a decent, but with certain safeguards, such as risk management and capital management and gain profit.

[challenger ab]

actually yes every people join to fores earn money but not all the trader will live for long time not mean you earn you are professional but the survivor in my opinion are the professional and are the maker money .making money will be easy if we under stand the market good and learn how to focus while we make any analysis