Is there anyone who really made money from forex?
Maybe forex is rigged or scam?
Should I trust this financial market? Or it’s just a waste of time and money to join?
If you are new to trading, these doubts are very common.
We’ve decided to reveal the reality of forex through this post. So that traders could trust it without any doubt.
Get through: Does anyone make money with trading forex?
Yes, there are traders around the world who are making decent money from forex. If some traders fail to make money, they should never say that forex trading is a scam. It’s true that a small % of traders succeed as professional traders and make consistent money. Still, your failure is 80% in your hand.
When people hear about forex, they consider it a fast-money-making scheme. The reality is that it’s a long-term risky financial war.
Where only those traders win who put consistent efforts.
Does Anyone Actually Make Money Trading Forex
Have you met anyone personally who made money trading forex? No, then it does not mean there is nobody here who actually made money trading forex.
If YOU are not making money, it does not mean that ANYONE can’t make money trading forex
Obviously, there are many traders who are earning a decent income by trading. But many of them are professional or full-time traders. It does not mean that swing traders don’t earn. They too earn but a very low % of swing traders earn on a regular basis.
I am familiar with many people who are trying their luck in forex and making money on a regular basis. It all depends on how much you deliver to trading and how much effort you put forward to succeed.
Why Anyone Can’t Make Money with Trading Forex
According to statistics 95% of traders fail in trading and only 5% succeed. This fact makes the reputation of forex susceptible. We can’t blame this system as a whole.
YES, there are few bad brokers who manipulate this financial game. Still, there are many honest ways to earn money.
Below are the most common reasons why ANYONE can’t make it:
Traders Get Bored with Continuous Failure
Forex is all about consistency. Only those who are disciplined and hardworking achieve goals. Newbies get bored quickly when they start losing.
So, they leave trading thinking it a boring game and nothing else.
Traders Fail to Manage Huge Capital
When individual traders fail to manage huge capital, they find forex a slow and hectic source of income.
They quit it and move back to their jobs again. Now many brokers are offering funded accounts, but conditions are strict.
Improper Trading Plan
Traders fail because they follow wrong trading strategies that go against them. Such traders fail to realize their mistakes and need a mentor.
Many traders leave forex when they fall into the trap of a broker’s scam.
Unfortunately, many dishonest brokers are a major threat to forex reputation. When traders lose money due to spread manipulation caused by brokers. They never trust forex again
Many traders fail because they expect forex as a money-making machine. When they start trading, they realize forex needs hard work and time to get a return. They get disappointed and leave trading.
Is anyone here actually make a living trading forex
Making a living while trading forex is challenging. You can’t expect to be a pro trader after 2 or 3 months of trading. To live on trading you need huge capital, risk management skills, and an expert trading strategy.
Unfortunately, only 2% of traders succeed to live on forex. About 90 % leave trading after 2 months to 1year.
For full-time trading, traders need a long track record and enough practice of risk management. As forex is risky, not every trade is positive.
Win and lose go side by side. However, with high capital, you can earn consistent money by risking a smaller percentage of average capital
Example: Traders Who Made Money Trading Forex
If you are still not convinced and doubt about forex reputation. Here you can read the name of who earned money.
|Jesse Livermore (1877–1940)||Made fortune of $100 million in 1929 market crash|
|William Delbert Gann (1878–1955)|
|was a trader who introduced market forecasting methods based on geometry, astrology, and ancient mathematics. He also wrote books and courses for traders|
|George Soros (born 1930)||chairman of Soros Fund Management|
|James Rogers (born 1942)||Chairman of Rogers Holdings|
|Richard J. Dennis (born 1949||acquired a $200 million over ten years from his speculating|
|Paul Tudor Jones II (born 1954)||Famous after making around $100 million by shorting stocks during the 1987 market crash|
|John Paulson (born 1955)||Famous for making billions of dollars in 2007, founder of hedge fund Paulson & Co|
|Steven Cohen (born 1956)||founded SAC Capital Advisors|
|David Tepper (born 1957)||Famous as hedge fund Appaloosa Management and CNBC|
|Nicholas Leeson (born 1967)||Rogue trader who famously caused the collapse of Barings Bank|
Did anyone make a profit in forex?
Forex is a big financial market with a huge transaction on a daily basis. It is profitable or not depending on the trader’s hard work, brokerage, market trends, and investment. The real question is how traders trade it to earn profit.
Can you become a millionaire by trading forex?
No, not at all, it’s wrong to assume a forex a million generating machine. YOu need time and patience to develop a profitable portfolio in forex. So, don’t set unrealistic expectations.
Undoubtedly, there are traders who earn money in forex. If you hear unsuccessful stories daily, it does not mean forex as a whole is a scam.
There are so many success stories still there. If success is easy everyone would be a trader.
It means it’s difficult and you need to put effort to achieve success. It’s wrong to blame forex for the failure of those who put less effort.
Give it a try and Stay Consistent. Believe me, your success story will be the next we will hear! Good luck!