Can You Get Rich by Trading Forex? – Ask the Traders

Forex trading is really a lucrative online business. Forex trading might be hard from the start because it has a lot of things to learn about. Some beginner traders may find it difficult but in the end, learning how to trade forex seems really worthwhile.

Today, a reader of daily trading tips at InvestmentTotal.com asked if he can get rich by trading forex. Let me clarify this question and let us invite professional traders if they can get really rich out of trading forex.

The question is “Can you get rich by trading forex?” My answer is “absolutely YES”. You can make as much money as you want. But in the start, you have to work hard to learn about it. Developing systems and strategies may take years. But for lucky few traders, they can get rich in just few weeks or months. But getting rich by trading forex overnight seems “not impossible” but not realistic. It is possible to get rich overnight but in trading forex might be a different story.

Can You Get Rich by Trading Forex? – Ask the Traders

So, my answer to the question is “absolutely YES”. I know a lot of forex traders who make $1,000 per day. Some forex trader I knew personally withdrawn $200,000 for few weeks of trading. Yes, that’s two hundred thousand dollars.

We can get rich by trading forex. Why I said so? If other professional forex traders make million dollars, I can, too. You can, too.

But, we need to develop a good strategy, develop self disciplined because forex trading is not a gambling.

Ask the Forex Traders

Share this article and let other forex traders share their opinions. What are the things needed to get rich by trading forex?

• You need persistence, self disciplined, capital (and idea on how to preserve and protect your capital).
• You need to learn risk and money management
• You need to learn technical and fundamental analysis
• Forex trading for other seems easy because they put a lot of times in learning about it. Invest in yourself by learning how to trade, then reap what you sowed later.

Follow Up Questions:

“How much capital needed to make a lot of money in trading forex and get rich as soon as possible?” – Asked by Frederick Guine 

Hmm, it takes some time to get rich in forex trading. But if you’re smart and had developed techniques and strategies, you can get rich even overnight. You need minimal capital. Some forex traders started from $100 and ends in $1,000,000. Wow. But many traders, started from $10,000 and ends from zero balance. Wiw! That’s not wow! My point here is simple; use your common sense. It doesn’t matter whether you are smart or not. Treat forex trading as a serious business and it will treat you nicely, too.

“How long it takes (months, years, weeks, days?) to learn to trade forex?” asked by Adbul Saribhan

Honestly, you can learn how to trade forex even a few minutes. Especially in the fast pacing technology, you can learn how to trade using your mobile phone in just few press of your screen and you entered a buy and sell order.

However, some technical aspects might take months or years. Such things like reading forex chart, analyzing the chart, using trading platform, money management, etc.

Can you get rich by trading forex? Kindly use the comment box below to share your ideas, forex trading strategy and how to really get rich by trading forex. Thanks for sharing your opinion fellow traders. Cheers! Happy trading!