Can you be rich by doing Forex?

By far the most I have read only a handful number of stories of Forex successful people. Is it because people do not reveal their stories or there isn't that much who have been successful I wonder...

Comments

  • It is hard to answer. The best way to start is coping a successful person. That is where the copy trading comes in 😉

  • edited October 29

    Copy trading is not what you think.

    It is very easy to follow a trader and copy his trades. Every successful move by himself automatically generates us profit.

    In copy trading, we can pre adjust/ define the lot size and leverage but the strategy is directly copying from the pro trader.

    But note, there is a hidden risk inside every copy trading action.

    Let me explain you the risk.

    In copy trading, when a pro trader successfully finished a trade and earn profits, it apply on his/her followers. When applying, if the conditions of the pro trader and copy trader are same, result will be the same but different in values. It is because of the lot size and the leverage.

    But for any reason, if the same strategy apply after a time delay, the conditions may not be the same as in pro trader's trade.

    Results may bring you a loss other than an assured profit according to our own assumptions.


    So, be careful when copying a pro trader as it is not easy as it looks.

  • Yes, this was right.

  • edited October 18

    Yeah It's depend on your luck and trick.

  • It depends on many circumstances like sheer luck and right place in right time and many more.

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