Is Forex is a rewarding business or not ?

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Pentat1936

Well-Known Member
If we do good trading in Forex and we always do proper planning and analysis before doing trading we can get very good results from this business I think no other business can give us a that much return which Forex trading gives us we can earn so much money from forex in very small time?
 

jack

Administrator
Staff member
Rewarding is going to be subjective.

Some people will feel "rewarded" based on the results.. like trading returns.
Others will find the process itself rewarding and the money is just a byproduct of following (and enjoying) good process.

People in the ladder category are typically better suited and more successful at trading as a business in the long term.

That said, I do not agree that "no other business" can give "that much return" in a "very small time"... Once you normalize for risk (your downside in terms of capital and time invested,) there are plenty of "sweaty" businesses that can do better.

I'm not saying you'd want to do such work, but if you go out and buy some cleaning supplies and a squeegee (under $40 invested,) and start walking around to local businesses offering to wash their windows for cheaper than their current service... you'd be risking the same amount of time, much less capital, and likely would see many multiples on your investment in the first month.

I mean, let's be real here. Trading is just like any other business in the sense of there's capital invested and at risk, time/labor required, and potential profit. If you measure by these factors, there's no need to glorify trading as 'better'. What it comes down to is far more related to people's interest and what they find rewarding in terms of process. If all you care about is the money / results, then go find a "dirty" job few people want to do and start a business around it.. you'll make money, have less risk, and be far less frustrated.

Personally, I'd rather be a trader. I love the process. Wouldn't change it for anything.
 

rod178

Well-Known Member
Most FX Traders lose money, eighty percent is probably conservative.
Most people are not suited to FX Trading
Most new Traders overestimate their ability
Most new Traders overestimate their future earning potential
Most people are better off working for someone else.
Most people are not worth employing. Estimate is that, at any one time, twenty percent of Employees perform eighty percent of the work
Most people significantly overestimate their contribution to their Employer
 

Akwin

Active Member
If we do good trading in Forex and we always do proper planning and analysis before doing trading we can get very good results from this business I think no other business can give us a that much return which Forex trading gives us we can earn so much money from forex in very small time?
Yes we can earn money from forex in very small time , but before that you should spend a very long long time learning about it , and practicing . In addition you should control your emotion. On the other hand you have to learn from all your mistakes and try not to do those mistakes again.
 
This is not necessarily the best mindset. If you set out to do forex trading to get rich quickly, you might as well be gambling. As you said, proper planning and analysis are important - and it takes a lot of time to learn to do that and improving your strategies is probably a life long process, and these things should come before the money.
 

Akwin

Active Member
This is not necessarily the best mindset. If you set out to do forex trading to get rich quickly, you might as well be gambling. As you said, proper planning and analysis are important - and it takes a lot of time to learn to do that and improving your strategies is probably a life long process, and these things should come before the money.
I strongly agree, money should not be our goal as beginners, we should learn as much as we can. Moreover, I believe that we should not let money run our life, but let money help us run our life better.
 
I strongly agree, money should not be our goal as beginners, we should learn as much as we can. Moreover, I believe that we should not let money run our life, but let money help us run our life better.
Definitely. I like to think having money is not an end goal but a means to help us achieve what we want in life.
 

ghaderbeigmiri

New Member
If we do good trading in Forex and we always do proper planning and analysis before doing trading we can get very good results from this business I think no other business can give us a that much return which Forex trading gives us we can earn so much money from forex in very small time?
absolutely, but not for everyone
 

Akwin

Active Member
Forex can potentially make a profit and help you make money.
It is a very profitable job to have if you are looking for a more free, unlimited by any boundaries type of job. However, be wary of brokers that are scam and do your research about scam companies before depositing your hard-earned money.
 

TuyeElson

New Member
Yes, you must look for a way to avoid scammers. It would be a great way to earn money if people were not trying to scam you all the time.
 

TuyeElson

New Member
Yes, you must look for a way to avoid scammers. It would be a great way to earn money if people were not trying to scam you all the time.
If I could do it alone I would always choose that way, but it would not work that way. I decided to start using forex signals from forexkings.com. The subscription to their service is really cheap, and even if they fail to help me with my forex trading, I will still not have a big loss. The first update they've sent me was good, I like it that they don't promise you 100% good trades, their percentage is still high enough to have a profit.
 

amtradingfx

Member
For me its the freedom of time and hopefully one day i will trade full time. (right now i pretty much am with covid etc)
But the ability to do whatever you want when you want and potentially make money as well is priceless...
no suits or ties the DREAM.
 

amtradingfx

Member
Just starting out. Any help would be appreciated.

my advice would be pay attention to everything. I see a lot of beginner traders focus on just one thing usually technical side of trading. But reality is technical is only 1 part . Try get a grasp of current macro events start to read and understand the fundamentals.. what is driving the market? what is the sentiment? does it make sense? why are these things important ... 1. helps pick direction 2. maybe keeps you out the market for example you want to be long euro... and you start reading about ecb talking about rate cuts or yield control is it wise to long euro (probably not) maybe you decide you still want to be long but now you reduce your normal trade size ... just in case the market really starts to sell of some news.. so all this helps with risk management because not every trade is risk 1-2% or whatever your risk is... it maybe a 0.25% / 0.5% ... but one can only do that if they have a grasp of what's going on..

i have said also in previous post trading is a mental game... you need to understand yourself, how your brain works? do you see market going up and your reaction is to sell it or buy it ... im very counter trend so for me i look to sell rallies and buy dips based of my fundamental bias

but that took months of me trying to decide what my brain wants me to do each time...i found trading with the trend frustrating .. so i stopped
i tried range trading found it frustrating so i stopped.. i tried counter stuff i found myself in a good mental state so then i worked a strategy around that both technical and risk management ...

but you cant do that unless you try these things out... its a long road to discover what suits you best ...
you want to be as calm and relaxed trading as possible so there's no point for me trading trend if it will just frustrate me

hope some of this help...
 
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sigband

New Member
I think it really depends on what strategies you're following how much you can adhere to them at all time!
 

Ramiel

New Member
It really depends on what you see real profit out of the Forex market. If you are one of those knuckleheads that follow anyone or anything no promises 1000% rewards in one week then you are in for a big disappointment. I started recently trading crypto and I think it's one of the best and volatile assets to lay your hands on at the moment.
 

Ramiel

New Member
It really depends on what you see real profit out of the Forex market. If you are one of those knuckleheads that follow anyone or anything no promises 1000% rewards in one week then you are in for a big disappointment. I started recently trading crypto and I think it's one of the best and volatile assets to lay your hands on at the moment.
I started recently trading crypto and I think it's one of the best and volatile assets to lay your hands on at the moment. Of course that doesn't mean that the risk is not there. If you can find good resources that can give you an edge over other traders like bittrade or fxgears then I'm pretty sure you can make a decent return at the end of the day.

ADMIN EDIT: removed link and replaced with text reference to the external service provider you mentioned, this post comes off as spam otherwise
 
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