For people who consider Forex trading, or even novice traders, there is a fundamental question: can Forex trading make me rich immediately?
Yes, this question often appears every now and then. Try to make a simple Google search about that question and you will see that it, indubitably, is a common question.
Despite being a common question, the answer(s) to the question varies. One might insist on its high possibility, while the other may argue the opposite.
Prior to answering the question, there should be a prerequisite question: what is your standard of being ‘rich’? How do you define ‘rich’?
If and only if you have answered the question, then you may raise that common question. The answer to the question is well yes, but actually no. In other words, no, it cannot. Here’s why.
Also Read: Is Forex Trading a Scam?
Forex Making You Rich? It’s Conditional
Conditional? Yes, it is conditional. You may become a millionaire by trading Forex, but it is only if you want to put huge capitals in it. Since not many people are unable to do this, it is wise to remember that Forex trading is not for everyone.
Besides, it still remains possible if you can find a good broker. That being said, most brokers sometimes play dirty for your profits are their demise.
Forex Does Not Work in an Immediate Way
If you wonder whether you can be millionaire immediately, then please stop daydreaming now. As much as you might hate it, Forex does not work that day.
Forex trading requires discipline and that is not the equivalent of immediate profits. Sometimes you lose (most likely), sometimes you win. Even skillful traders experience this.
Fraud, Manipulation, and Uncertainty
Regarding Forex markets, it is full of uncertainties that sometimes prediction can even goes wrong. There are millions of things happening even in a single day trading.
Also, speaking of money, financial affairs does not stray far from manipulation and fraud. Unfortunately, many parties will conduct fraud and manipulating, attempting to scam you. Sadly, many novice traders fall for this traps.
Also Read: Forex Lies Novice Traders Mostly Believe
