what does it take to be rich in forex?

**lhar_ff** · 11-11-2009, 18:09

Originally Posted by rjferrer

what do you think is the most important thing/s you need to have to succeed?

1. "PATIENCE is the key to success"
2. Blessed are those FLEXIBLE because they can trade anytime, anywhere.
3. Positive mental attitude

**karinaloverstow** · 11-12-2009, 04:29

Interesting post, the responses were all very insightful. I agree with forex leader thats its not how much you make in any period of time but consistency. If you can make even a small profit consistently in any market condition it will allow you to be a successful trader in the long term.

**leah0024** · 11-12-2009, 15:59

i don't think there would be any member who will disagree with all the posts in this thread. I'm glad that everybody knows what to do to become a successful trader and I hope everybody put it in to action. well, for me, I would have to say that for as long as you have the "business like manner" you will definitely succeed. this says it all. keeping everything simple is also an answer...

**boom1** · 11-12-2009, 19:43

is it not a big quiz ?

**leah0024** · 11-17-2009, 12:51

Originally Posted by boom1

is it not a big quiz ?

no it's not.. everything is just in a process of learning..the more you are eager to this, the more you will dig in to it..

**USMC** · 12-06-2009, 04:57

Welcome to Forex Forums

**botwin** · 12-06-2009, 17:50

Hello, welcome to the boards my dude

**DickP** · 12-11-2009, 20:02

Welcome to Forex Forums

to be rich you need patience and a lot of initial capital

**McPott** · 12-12-2009, 15:53

Welcome to the Forums

**ChartWizQ** · 01-18-2010, 16:54

WELCOME TO FOREX FORUMS BUD

i THINK Proper money management is the key to successful trading, whether you start with $1 million or $100 money management can make or break you.

**globalnomad** · 01-19-2010, 09:38

folks! another forum for making money quick right! let me tell you there is no shortcut , though forex trading is a platform which u can use to enhance your income.But forex trading also involves complex formulas and sharp mind ...how fast you can analyse data and inputs. General perception is big bucks goes to big mind , but there are few tools in the market which helps in analyzing things in better ways.
i saw one site ..name was i think...fxdialogue.com it is good stock stimulator and best part is ..using excel too ....cool!
i think if you spending lots of time reading these forums this site is worth giving a look.
Best of luck...adios.

**DickP** · 01-19-2010, 18:36

I never thought of ForexForums.com as a site that makes people think they can make money quick

**Defariak** · 01-19-2010, 19:00

Originally Posted by globalnomad

folks! another forum for making money quick right! let me tell you there is no shortcut , though forex trading is a platform which u can use to enhance your income.But forex trading also involves complex formulas and sharp mind ...how fast you can analyse data and inputs. General perception is big bucks goes to big mind , but there are few tools in the market which helps in analyzing things in better ways.
i saw one site ..name was i think...fxdialogue.com it is good stock stimulator and best part is ..using excel too ....cool!
i think if you spending lots of time reading these forums this site is worth giving a look.
Best of luck...adios.

oh hush up.
coming to a forum to talk smack about it and market your own site, classy.

Anyways, edjucation, risk management and staying detached are the 3 most important things I think.

**dollar** · 01-20-2010, 12:58

Originally Posted by Defariak

oh hush up.
coming to a forum to talk smack about it and market your own site, classy.

Anyways, edjucation, risk management and staying detached are the 3 most important things I think.

New statistical computer program! Trade forecast.

**robwill** · 01-20-2010, 19:35

What does it take to be rich in Forex.

A very good question and a very complex one as well.

Let's start with learning how to trade. You can teach yourself by reading everything there is on Forex, this will take you a very long time.

I personally took a four week on line training course to learn a very unique waty to trade Forex without having to worry about charts, indicators, trends etc. etc.

This suits me fine as I really do not want the stress of trying to make decisions based on what has happened in the past and which is often wrong for the present.

Also start by Demo trading, so you can trade exactly as you would for real but without risking real money. Trade like this until you are 100% confident of your abilities to trade safely.

The Broker I use is one of the best, honest and helpful if you have any problems. OANDA, go to their web site and open a Demo account free

Good luck whatever you do.

Robert.

**FxBanker** · 02-17-2010, 15:38

Originally Posted by Forex_Leader

It isn't really the number of pips you make which counts, it's the consistency. That's a mistake new forex traders make. If you are able to make 50 pips per day or even 10 pips on a CONSISTENT basis, then you're in the game. Because at some point, you will increase your pip "value" because your capital will increase, so your pip value goes from 1$ to 2$ to 5$ etc. A pip is worth 10$ (on average, depending on the pair) on a standard lot. So 50 pips/day x 5 trading days is $2,500 per week.

Unless your objective is "I want to be a millionnaire in 2 weeks", $2,500/week will satisfy most of your needs.

You are so right!
Trader need to learn to get a permanent stable income

**BloodySun** · 12-14-2010, 10:33

Can someone teach me a safe way to trade that doesnt cost a fortune.

**Mike** · 12-14-2010, 10:35

Originally Posted by DickP

I never thought of ForexForums.com as a site that makes people think they can make money quick

Neither did we Dick, neither did we.

**robwill** · 12-20-2010, 08:48

Hello BloodySun.

A good question, and one I tried to find an answer to for two years. When I realised that making hundreds of pips was just not achievable over the long term, and that 95% of new traders lose all their capital very quickly, I started looking at more realistic ways to trade Forex.

There is only one safe, profitable way that I found to trade Forex.

It is not a get rich quick scheme, it is a safe way to make small regular profits. When compounded these small gains grow in to a substantial income.

If you go to www.forextradingbasics.co.uk you can get a free Mini-course eBook that will give you lot's of the important information about Forex. There is also info about the easy to understand course that I did to learn to trade.

This is a 100% genuine way to learn how to trade risk free and profitably, not the usual rubbish that makes exorbitant claims to profits, but you only end up with huge losses.

Robert.