Are you in a hurry to make money?

RachelEB

Corporal
Messages
106
If you are in a hurry to make money in Forex you risk losing everything.
Not the approach to take imo,

time and effort = great reward.
 

sebking1986

Recruit
Messages
183
I'd love to make loads quickly but it simply isn't realistic and that's the same with all trading. Before really getting involved in forex I was doing sports trading on Betfair and the same is true there. The process is the focus and the process done well pays money. Focussing on the end neglects the means by which you get there.
 

LuckoftheFX

Private, 1st Class
Messages
53
I've seen many traders that just enter forex market, get some know how of the trading and start targeting thousands of dollars earning per month. Were you also had the same mindset when you entered forex trading or was it different?
Making money - Yes
Getting rich quick - No

I was fortunate to be introduced to Forex by an honest and say it how it is trader, no BS and hype
 

bigdolly

Sergeant Major
Messages
961
In the beginning I was in a hurry but losses somewhat cooled my temper. Now I understand that profitable trading is a long-term process, because reward targets should be set bearing in mind possible risk.
 

sebking1986

Recruit
Messages
183
Making money - Yes
Getting rich quick - No

I was fortunate to be introduced to Forex by an honest and say it how it is trader, no BS and hype
I find this really helped set my expectations at the right level too. The money is defintely there to be made but you won't be making it next week or even next month.
 

Leon55

Recruit
Messages
12
If you are looking to make money on the side, then you will need to be careful, there a lot of “get rich quick” schemes and work at home scams.
 

Talar

Private, 1st Class
Messages
45
Not at all I can live with a lot of money made simply over time and not like that you described here in reality, I do hope each person will follow this advice, cause without preparation it's all do not work entirely and possibly together.
 

Nnn.h

Private, 1st Class
Messages
30
I've seen many traders that just enter forex market, get some know how of the trading and start targeting thousands of dollars earning per month. Were you also had the same mindset when you entered forex trading or was it different?
Sure. until the first serious loss. when you lose half of what you have earned in one transaction. that's how i crashed my computer and had to buy a new one.
in general i don't believe in perfect lossless trading. it'll still be sooner or later. the main thing is to be able to control yourself. take it philosophically.
and if necessary be able to leave forex on time.
 
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