Forex - Is it possible..

U

ultralogin10

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So you hear about these young kids starting with £100 and making £200k in a few month trading forex... but is it actually possible? The average person i know suggests 30% per month is the maximum to expect on average.
 
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no it is not possible, and 30%/ month from total equity is a big NO.
 
I would say it's possible because, well, nothing is really impossible. But I think it would be more likely to hit the jackpot at the euromillions.
 
Those stories you hear are trying to hook you into it...Trading Forex or any CFDs for that matter is a pile of shite, better dropping a couple of quid on at the local bookies on the footie
 
As assumed. I'm pretty sure some of these guys are laundering money somehow and turning it clean by paying taxes on it via Crypto.
 
Anyone that brags about turning that little into that much is just trying to get you to bite the hook without the worm!
 
Just be careful. High risk = high return. If you expect a high return, you should also expect a high lost.
 
Slightly older post from MrE on this topic. And this guy knows his shit.




MrE said:
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You're going up against teams of PhD & Nobel Prize winning math wizards, super computer algos linked to petabyte sized data sets using microwave and fiber sitting virtually on the exchange floor for lowest execution times, HFT firms buying retail order flows to frontrun moves and fill prices, crooked insider trading on private information, firms utilising crowd sourced real time data from user cell phone apps, cell towers and other crazy shit we can't even imagine.



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Without having plenty of experience, discipline, and a strong background this is the equivalent of a noob registering on BHW today and asking how to make $500/day without any skills; complete disrespect for the process and effort required.
Click to expand...
 
Stay away from Forex, unless you want to waste all of your money. It's gambling.
 
To be fair, i looked into it a while ago but then i stayed on the same path i'm already on.
I'm aware of fake instagramers who flaunt nice cars etc to show "money made" but when you see articles in the paper, the question of them being more credible comes into question.
 
There's always edge cases, but mostly it's marketing to get you to buy their program. Chances are they aren't so good at trading, so that's why their making an online program and marketing it to you, because marketing is easier than trading. It just plays on psychology. Very few of these gurus actually sell their true secrets, they are too busy cashing in or sitting in a yacht.

The real way to be successful on the markets is using leverage, persistence, perseverance, and tight money management. So, while yes, it's possible, it's unlikely. Learning a skill like forex or options is a good idea though, but if you're not willing to invest 2-4h daily, then find yourself a safe fund to invest in long term and focus on your other key interests.
 
Heard a lot about it but nothing that I’ve heard so far is good about forex
 
Actually is possible especially with stocks nowadays.
Started with 10k on etoro with 28% profit over not even a month.
For example, beyond meat did a really nice rally, tesla , amazon .

Others who had kiss the bottom on March are now +30+50% up so..

Yes there are also risky stocks which are hitting new lows 3 days now. but is high risk-high profits ..

For god sake.. even bitcoin pumped with 8% in the last 24h.
 
A lot of the people you see claiming to have made a fortune, are actually only making money by getting others to sign up to 'courses' or 'programmes' they are not actually making money from trading themselves.

A lot of these guys are doing things like hiring a private jet for an hour so they can snap some social media posts while the plane is stationary in a hanger!

If it sounds too good to be true, it is!!
 
It needs a lot of experience what most people fail to understand is that big institution/individuals capitalize on minute fluctuations that are certain to occur but they have loads of money for that particular controlled trade I not saying it can't be done but know that lack of self-discipline kills 99% of traders and once you see endless margins being provided by your broker you will feel at the top of this world and convincing yourself that I can only fail in 1 or two trades but not all the time kills discipline what you fail to understand is that as margins enhance your profits they on the same time have the humongous potential to erase your working capital in seconds and hence at the end of the day 1 wrong trade makes you lose all your capital but with controlled exposures, things can be done but u will need to have the capacity to lose first.
 
I mean it's not impossible but it's very very unlikely, it's just gambling a lot of the time so be careful
 
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