Making an honest living with forex trading

El Nacho · (#1 (**permalink**))

I'm sure this has been posted in many forums before, but because we are all new members here, maybe some new perspectives will help. We are told not to enter forex to get rich - at least right away

But I suppose that is human nature all around, to find the fastest route to financial freedom. I have begin to understand, that FOREX is both and equally so, NOT a sure-fire way of getting wealthy, and CAN increase your wealth.

Maybe I should add a poll. Who is making money from forex at this time?

fundamental · (#2 (**permalink**))

I think it comes down to your approach to the market. If you come in to get rich as quickly as possible with as little effort as possible you'll probably lose as greed and unrealistic expectations takes over and blurs your vision causing mistakes. Saying that, I do believe it is possible to make a living from it. Hey, there are reasons why stock traders are so filthy rich

Plato · (#3 (**permalink**))

Here is the bottom line. Forex is just like ANY OTHER venture. You can make money if you want to, and you can lose money just as easily. People trade stocks, real estate, bonds etc etc etc. All of these areas have risks involved as well. Personally, I think all this hype about 'NOT' being able to make money with forex is due to the negative publicity it has received. True, there are WAY TOO many scam companies out there, that make it difficult to be in the green. But that will all change, regulation will set in. You have to remember, FOREX is relatively new as an investment tool.

Bullish · (#4 (**permalink**))

Well said. I'd recommend everyone to read:

Think & Grow Rich by Napolean Hill

If you think you can't than you have already failed.

No Time · (#5 (**permalink**))

Quote:

Originally Posted by Plato

Here is the bottom line. Forex is just like ANY OTHER venture. You can make money if you want to, and you can lose money just as easily. People trade stocks, real estate, bonds etc etc etc. All of these areas have risks involved as well. Personally, I think all this hype about 'NOT' being able to make money with forex is due to the negative publicity it has received. True, there are WAY TOO many scam companies out there, that make it difficult to be in the green. But that will all change, regulation will set in. You have to remember, FOREX is relatively new as an investment tool.

Plato--Well said. Just wanted to add that Forex is and should be approached as a Business. Where there is business there is risk, but managing your risk is key to success and longevity!!