Is Forex trading really a Get-rich-quick scheme?

[fxVICX]

This would depend on the traders mindset, but for me I will say NO it is not a get rich quick scheme. it is true that it has potential to make a lot of money, but so is the risk of losing everything just as fast. The market is unpredictable, and without the mindset of doing it right and seeing trading as a career you may get it wrong.

A lot of people jump in thinking it's easy money, but in reality it takes time to master. No strategy wins all the time, and even the best traders loses money. For me the key is consistency and discipline, not chasing quick profits. It's a career path I have decided to build for years to be profitable.

[dunfida]

This would depend on the traders mindset, but for me I will say NO it is not a get rich quick scheme. it is true that it has potential to make a lot of money, but so is the risk of losing everything just as fast. The market is unpredictable, and without the mindset of doing it right and seeing trading as a career you may get it wrong.

A lot of people jump in thinking it's easy money, but in reality it takes time to master. No strategy wins all the time, and even the best traders loses money. For me the key is consistency and discipline, not chasing quick profits. It's a career path I have decided to build for years to be profitable.

For those people who had been that believing that this is a rich quick scheme then let them do able to experience on how this market works. They will be able to find out the truth about it and made out some realizations that their initial impressions were totally opposite on what they had been anticipating. Dealing up with a market on which involves ups and downs into the price then you would really be able to make yourself that find out that it was never been that easy and it would be not something that you could be able to learn in a short period of time. This is why it will really be that recommended that you should be trying to learn up such skill in a slow manner rather than on making yourself that having such kind of rushing up because it will be that prone into the mistakes on which causing up more loses.

Trading skills is something that needs up that proper way of learning it out and it wont be that something you do able to get on a short time period. Never ever make yourself that having that kind of mentality on trying out to learn it on a rushed way because this will be that resulting into desperation and having that kind of impulsiveness. Take it slow and learn up on things accordingly.

Since I gained knowledge about how trading works I don't see either crypto or forex trading as get rich quick schemes, it is people that don't have accurate knowledge of how trading works or those that wants to mislead others that will say they are very fast ways to make money. Trading is not what people should rush into without understanding technically and fundamental analysis, unless they want to enter as gamblers that wants quick fixes, which doesn't happen most of the time. Many newbies are mostly misled in adverts on social media that portrays trading as a very easy way to make quick money, but in reality it is only a few experienced traders that makes most of the profits.

Even not just that limited to trading but also trying out to deal up with something. If you dont have that sufficient or right knowledge about it then you will be ending up on having those kind of wrong impressions towards it and this is something that you do need up to changed up or simply you can inevitably be able to learn on what it is if you are really just that serious on what you are currently dealing on with.
Dealing with a volatile space is never been simple because there's no one will be able to know on where prices will be going or simply being unpredictable and random.

[Muba20]

A lot of people jump in thinking it's easy money, but in reality it takes time to master. No strategy wins all the time, and even the best traders loses money. For me the key is consistency and discipline, not chasing quick profits. It's a career path I have decided to build for years to be profitable.

There is no way to say that Forex or Crypto is easy. For those who consider Forex trading as a field of earning money, this can be one of the reasons for the loss. If you do not have the trading skills required for normal Forex trading, then there is no chance of profiting from Forex. Various strategies and various types of research are required here. The biggest problem is that if you make a mistake while trading, you are likely to be liquidated in a short time. That is, you can lose all your money at any time. But there is no possibility of such a thing happening in Crypto trading. If you buy Bitcoin or any other good coins, then even if the trading price decreases, it will not be able to liquidate you. When the price of your Crypto increases, you can get that money again. There is no harm in waiting for a long time. If we expect something good from Crypto for a short time, it will be a mistake.

[Iranus]

There is no way to say that Forex or Crypto is easy. For those who consider Forex trading as a field of earning money, this can be one of the reasons for the loss. If you do not have the trading skills required for normal Forex trading, then there is no chance of profiting from Forex. Various strategies and various types of research are required here. The biggest problem is that if you make a mistake while trading, you are likely to be liquidated in a short time. That is, you can lose all your money at any time. But there is no possibility of such a thing happening in Crypto trading. If you buy Bitcoin or any other good coins, then even if the trading price decreases, it will not be able to liquidate you. When the price of your Crypto increases, you can get that money again. There is no harm in waiting for a long time. If we expect something good from Crypto for a short time, it will be a mistake.

It depends, if you choose spot trading, you will not be liquidated and still have a chance to recover your investment with good coins like BTC. But if you choose futures trading, high leverage, you will also be liquidated in a short time just like forex trading. Also in forex trading, if you use the lowest leverage, set take profit/stop loss, you will be very unlikely to get liquidated or almost certainly will not get liquidated.

When it comes to trading, the challenges and risks of forex and cryptocurrencies are almost the same, they don't have much difference. I even believe that crypto trading is much riskier because it is more susceptible to manipulation, making it more difficult to analyze and make predictions.

[EarnOnVictor]

Permit me to rephrase it this way; Forex is not a get-rich-quick scheme, because it is not a scheme, but a market, and it's rather a possible means of getting rich quickly. Unfortunately, only a very few traders are able to achieve that.

In other words, Forex trading is risky, though it gives the opportunity to make some insane amount of money, you have to fulfil some mission impossible tasks to achieve that.

[rachael9385]

I am looking to take trading activity very serious this year, I did not actively trade last year and I feel I missed out on a lot of opportunities.

And for the record, I have experience trading both Forex and crypto, but have never really taken any of this serious, and this year, I have this hunger to try to become financially independent from some of my current sources, and the fact i have not made the kind of money I want is another motivation.

I was thinking seriously on whether to start with trading crypto or Forex, I don't know which Will be more profitable in the short term, in the middle of this crossroad, I came across this tweet on X,



This left me wondering if actually what he said is true? Is forex trading really a quick way to make money online compared to crypto trading?

Forex is not a get rich quick scheme, you can call it a financial institution that you always learn everyday. No trader knows it all, even the experts are constantly learning something new from the market. Forex is like the phrase garbage in garbage out, you can only get the result based on what you know. People who try to use forex as a ponzi scheme are the ones that end up saying that it is a scam because they are too lazy to follow the hard route.A trader is conscious of always following risk management, greedy traders increase their lot size to a ridiculously high value to get rich quick.

[COBRAS]

Forex is a scam !!! Only possible profit buy btcusd at forex "company with high credit level 1:50 for ex.Currency pairs is a like casino, euro/usd or usd/jpy drain all your money to your forex dealer account.All forex brokesrs no move your trades to market,because rhey know what you will be lost all your money in "trading".

[gormaljiep]

Forex isn’t a get-rich-quick scheme — it can be profitable, but it takes time, discipline, and smart risk management. Compared to crypto, Forex is usually less volatile, so it’s more about steady gains than wild swings.
Since you're serious this year, you might want to check out prop firms. They let you trade with their capital after passing a challenge. proptraderhub.com is a great place to compare firms and grab discount codes to get started for less.

[Josefjix]

Forex is a scam !!! Only possible profit buy btcusd at forex "company with high credit level 1:50 for ex.Currency pairs is a like casino, euro/usd or usd/jpy drain all your money to your forex dealer account.All forex brokesrs no move your trades to market,because rhey know what you will be lost all your money in "trading".

I could believe you on this for many instances, the fairest pair of trading in forex is the BTC/USD for its reliability and smooth movement without any sign of manipulation and response accordingly to news and other technical and fundamental analysis on the market, other pairs seems to not always go as planned leaving your strategy to be questioned all the times.

My friend will always complain that, if he apply the strategy and analysis done on forex and channel them to crypto, he could've been hitting bigger profits because crypto movement follows the way you analyze it than forex, than forex movement seems to be more manipulative by brokers alot.

[Rgram]

I am looking to take trading activity very serious this year, I did not actively trade last year and I feel I missed out on a lot of opportunities.

And for the record, I have experience trading both Forex and crypto, but have never really taken any of this serious, and this year, I have this hunger to try to become financially independent from some of my current sources, and the fact i have not made the kind of money I want is another motivation.

I was thinking seriously on whether to start with trading crypto or Forex, I don't know which Will be more profitable in the short term, in the middle of this crossroad, I came across this tweet on X,



This left me wondering if actually what he said is true? Is forex trading really a quick way to make money online compared to crypto trading?

I think it’s not like it seems from the outside..
Having the trading experience is one thing, but understanding the market and how to control your emotions/psychology when it comes to loss/holding trades/leveraging..most people hit their targets two to three times then believe it’s time to take bigger risks..
It’s not a get rich quick scheme but after giving in time and do the necessary disciplinary sacrifices, only after then when you’ve archived consistency you’ll get the breakthrough you’re looking for..

[Marvell1]

I could believe you on this for many instances, the fairest pair of trading in forex is the BTC/USD for its reliability and smooth movement without any sign of manipulation and response accordingly to news and other technical and fundamental analysis on the market, other pairs seems to not always go as planned leaving your strategy to be questioned all the times.

My friend will always complain that, if he apply the strategy and analysis done on forex and channel them to crypto, he could've been hitting bigger profits because crypto movement follows the way you analyze it than forex, than forex movement seems to be more manipulative by brokers alot.

I don't know if you have ever traded forex but I guess you have never traded forex and you just heard other people talk about it.

If you learn about the forex market, you will know that the daily forex trading volume is up to 7 trillion dollars and is the most liquid financial market, even surpassing stocks. It can be said that the size of the forex market is larger than all other financial markets. Meanwhile, Bitcoin, despite having a market capitalization of nearly $2 trillion, has a trading volume of only about $20-30 billion. That means if you want to manipulate the forex market you need trillions of dollars but with bitcoin you only need a few billion dollars. Which do you think is easier to manipulate? Not to mention, forex is a over-the-counter (OTC) market, manipulating it is not as easy as you think.

Bitcoin is notorious for being highly volatile, but its volatility is not based on demand but primarily on manipulation. We should accept the truth, don't try to distort the truth because that doesn't make bitcoin better.

[davis196]

FOREX trading is definitely NOT a get-rich-quick scheme, because there's no way to become rich QUICK by trading. I don't know about any methods or strategies about how to become rich quick, by trading on the FOREX markets. If there were actual methods about this, everyone would just become a trader and make millions just like that. The world would become full of rich day traders and poverty would be solved.
Obviously, such "get-rich-quick" methods don't exist in real life. If someone is telling such that such methods exist, he is most likely a scammer and a liar.

[Zoomic]

When people begin to talk about how trading is a get-rich-quick scheme, I do not fail to always remind them that it could also be a "get-poor-quick scheme" too, depending on how they handle it. Both crypto trading and forex trading are risky. One could even become rich from either of the two, but not really in the way people paint it to be like something very easy to do and achieve. There is no such thing as getting rich quick in trading. If anyone comes preaching about getting rich quick, then they are obviously out there misleading gullible people.

No one should pressure you with some sweet testimonies about trading. Most of these so-called experienced traders are not even profitable in trading; that is why many of them parade themselves on social media platforms, dishing out trading advice and recommendations which are most times not reliable.

[irhact]

The problem has always been seeing trading in the short term and that has a very good resemblance with a get rich quick scheme because that's mainly what short term always do come off as. If you are look at the short term there will always be a reason to see it that you are venturing into a get rich quick scheme but of you make an I deal business off it such that you are not in a haste to get the profits from it then chances are you are going to approach it differently such that you are going  to be able  make it a business and profession and not just a scheme to get you rich quick but a sustainable one that you can carry on with for years.  Trading is supposed to be seen as one in which  you don't just  want to get rich from.but to gain financial independence which I know is beyond just getting rich.

[milewilda]

When people begin to talk about how trading is a get-rich-quick scheme, I do not fail to always remind them that it could also be a "get-poor-quick scheme" too, depending on how they handle it. Both crypto trading and forex trading are risky. One could even become rich from either of the two, but not really in the way people paint it to be like something very easy to do and achieve. There is no such thing as getting rich quick in trading. If anyone comes preaching about getting rich quick, then they are obviously out there misleading gullible people.

No one should pressure you with some sweet testimonies about trading. Most of these so-called experienced traders are not even profitable in trading; that is why many of them parade themselves on social media platforms, dishing out trading advice and recommendations which are most times not reliable.

Whenever i do hear up someone about making forex or trading on crypto as a get rich scheme then i do just simply let them be on what are the things that they do have in mind. I dont tend to oppose on whatever the idea that they do have because sooner or later they will be able to realize into the words that came out into their mouth on which dealing up with this market is never been that easy.Its true that instead on making yourself that getting rich, you would be rather seeing yourself that being getting poorer as this one would be resulting into tons of loses if you dont really know on what you've been doing or simply you are just that doing gambling. Its never been that an easy thing to deal up with volatile market on which you do need to deal up with moving prices on which this isnt something that so easy or simple. Newbies usually be having this kind of mentality specially if they've seen other traders profits at the time that they will be hovering around and telling into themselves that if they can do it then they can easily do it and even trying ot think that they've become rich because of trading on which this is not supposed the way that you should be thinking about trading. Its never been that a skill that could be easily obtained and you do needed up to a long time and tons of efforts before you could be having a good grasps into it. A series of trial and error on which you do need up to mold your plans and back up plans if incase that it wont be able to work.

[SATWAT]

When people begin to talk about how trading is a get-rich-quick scheme, I do not fail to always remind them that it could also be a "get-poor-quick scheme" too, depending on how they handle it. Both crypto trading and forex trading are risky. One could even become rich from either of the two, but not really in the way people paint it to be like something very easy to do and achieve. There is no such thing as getting rich quick in trading. If anyone comes preaching about getting rich quick, then they are obviously out there misleading gullible people.

No one should pressure you with some sweet testimonies about trading. Most of these so-called experienced traders are not even profitable in trading; that is why many of them parade themselves on social media platforms, dishing out trading advice and recommendations which are most times not reliable.

I completely agreed with your first line of this post it's not all about get rich quickly but its can give you another tag of quickly get poor because I was too much involved in social media where I used to talk many peoples things have never been on level which media or adds were giving.
Many newbies and peoples those were greedy and want to have quick rich formula's lost their funds quickly and then never been able to bring back even many gone bankrupt and living life which they were never been deserved because no platform or method to help them and have their life savings back.
Peoples needs to be careful about these investments or things because its look like easy but in reality never been works for those gone into this trap and then have nothing to cry and live which is surely not easy life for them and their dependents.

[Zoomic]

When people begin to talk about how trading is a get-rich-quick scheme, I do not fail to always remind them that it could also be a "get-poor-quick scheme" too, depending on how they handle it. Both crypto trading and forex trading are risky. One could even become rich from either of the two, but not really in the way people paint it to be like something very easy to do and achieve. There is no such thing as getting rich quick in trading. If anyone comes preaching about getting rich quick, then they are obviously out there misleading gullible people.

No one should pressure you with some sweet testimonies about trading. Most of these so-called experienced traders are not even profitable in trading; that is why many of them parade themselves on social media platforms, dishing out trading advice and recommendations which are most times not reliable.

I completely agreed with your first line of this post it's not all about get rich quickly but its can give you another tag of quickly get poor because I was too much involved in social media where I used to talk many peoples things have never been on level which media or adds were giving.
Many newbies and peoples those were greedy and want to have quick rich formula's lost their funds quickly and then never been able to bring back even many gone bankrupt and living life which they were never been deserved because no platform or method to help them and have their life savings back.
Peoples needs to be careful about these investments or things because its look like easy but in reality never been works for those gone into this trap and then have nothing to cry and live which is surely not easy life for them and their dependents.

This is pathetic. Most times newbies don't even consider the possibility of getting involved in scam all in the name of get rich quick. All attentions is channelled on the possible gains of trading or investing. Well, greed is such a significant thing with both positive and negative consequences. The best thing for these newbies is for them to learn from experience because no matter how much you advice them, they won't take you seriously. So, there is no need stressing much about them.

[doomloop]

FOREX trading is definitely NOT a get-rich-quick scheme, because there's no way to become rich QUICK by trading. I don't know about any methods or strategies about how to become rich quick, by trading on the FOREX markets. If there were actual methods about this, everyone would just become a trader and make millions just like that. The world would become full of rich day traders and poverty would be solved.
Obviously, such "get-rich-quick" methods don't exist in real life. If someone is telling such that such methods exist, he is most likely a scammer and a liar.

Different minds different methods and views which will give real time tense situation to anyone who is looking for quickly getting rich because many love to have shortcut in life which never works for all evens can go ahead and also able to took good results as well but it never works for all.

Short term is good but this need good analysis with good and quick work because short term mean you have to done quickly otherwise this can ruin you and also your funds can go forever hype creators always have good sounds which give good intention but it never works always needs to be well aware all things which are happening around us. Consistency and hard work also pays even take time but always give good reward which is also solid and long term many examples around us, but usually peoples not want to like this because get quick rich always in their minds.

[shinratensei_]

The problem has always been seeing trading in the short term and that has a very good resemblance with a get rich quick scheme because that's mainly what short term always do come off as. If you are look at the short term there will always be a reason to see it that you are venturing into a get rich quick scheme but of you make an I deal business off it such that you are not in a haste to get the profits from it then chances are you are going to approach it differently such that you are going  to be able  make it a business and profession and not just a scheme to get you rich quick but a sustainable one that you can carry on with for years.  Trading is supposed to be seen as one in which  you don't just  want to get rich from.but to gain financial independence which I know is beyond just getting rich.

The key is being sustainable.
I too have seen plenty of people who think of trading as get rich quick scheme, doesn't matter if it's forex, crypto or stocks, all of them failed though because trading isn't as easy as it looks.

There's always smarter people in the market and to mitigate risk, risk management is the key, only then we can be sustainable in the long run.
If we're just going all in without thinking about risk, we'd likely to become broke.

[DaNNy001]

Trading can never make anyone rich quick. Rather, it can make someone poor quickly. Be it forex or crypto trading. When one trades and his entry goes towards profit, a lot of tension works in him and he closes his trade with less profit. But when he loses, he waits until his loss is recovered. This causes him to panic when he is at a huge loss and sell his tokens at a huge loss. No one can get rich quick from trading. After a long period of trading one can earn good profit but for that he has to learn to avoid every loss and become an expert in trading. trading is not too much easy and trading is not for everyone

Getting rich from trading is possible but getting rich quick is impossible and I have noticed something else about it, those who manage to get rich fast fall down very fast... it's a psychological thing, just because they were able to flip a tens of dollars to thousands their greed takes them back into the market and they continue trying to flip to make more quick money.. Trading like you said can make you poor quickly, it's simply a two side of a coin, the results you get depends on how you approach it