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

[passwordnow]

I remember one quote from the movie of Wolf of Wall Street and the man we hate there, Jordan Belfort has got something meaningful he said about a customer. I'm not sure if that's just part of a script or he really told that about, people should judge him with his losses and not with his wins because he only got a few. And I think that's the same with crypto and forex, people who's able to have fewer losses but with consistency in winning their trades are the ones that will become rich with it. But we're lucky to be here and we've got more bold choice about just holding rather than doing some extreme trades by thinking we'd be rich overnight.

[Webetcoins]

Forex is not a get rich quick schemes. I am sorry those forex influencers with their lifestyles have deceived many people that it is what it looks like. When you start trading forex the first thing you encounter are the losses. And this one cannot be avoided. And the loses are what makes you to be able to restrategize. It is the loses that makes you question yourself if it is forex you want to do or not. It often take up to 3 - 5 years before you start making enough money as a forex trader to be build a large trading account, and achieve location-independent financial freedom the type that we watch on the internet.

You have done good thing about explaining, but I am going to add few more things about forex trading because usually it never works like peoples give explanations I personally enter in this field and faced huge loses now after one decade I was never able to overcome this loses because these ruins my life.

I was admired from few peoples then I go for big success but after just 6 months I was no able to overcome, and then I have to change my life which is now not as this was before my entry into this forex trading maybe all have no same experience but still it's surely not like we are watching in adds or demo's. Once someone decided about this firstly done good work and then have good strategy because no doubt it needed time and good amount for survive then anyone can take success, but time consumed with good funds important.

[Mpamaegbu]

I'm not sure if that's just part of a script or he really told that about, people should judge him with his losses and not with his wins because he only got a few.

If he or anyone else made that statement, that's actually being truthful. It's what it's. We're in an era where pretentiousness and deceit rule the world. Truth is often hidden in such a manner that only a tiny bit tells it. A lot of us weren't told to expect losses while starting up trading and so when we started experiencing losses we thought it was abnormal and something to be ashamed of. Whereas losses are an integral part of winning, both in trading and in real life.

[milewilda]

I'm not sure if that's just part of a script or he really told that about, people should judge him with his losses and not with his wins because he only got a few.

If he or anyone else made that statement, that's actually being truthful. It's what it's. We're in an era where pretentiousness and deceit rule the world. Truth is often hidden in such a manner that only a tiny bit tells it. A lot of us weren't told to expect losses while starting up trading and so when we started experiencing losses we thought it was abnormal and something to be ashamed of. Whereas losses are an integral part of winning, both in trading and in real life.

Actually you wont really be that ending up on having that wrong approach if you do really just that make your own research because if you do really just that use your own common sense about on how things works then you wont really be that easily believing that trading up on Forex is really that easy to do or making money is really that easy. If you are really just that sensible then you would really be making up some further research about real time experiences about it because at the moment that involves money and dealing up with a volatile space then its never been easy to make out such dealing or engagement because you are dealing with a market. Dealing up with Forex or any other markets like this market on cryptocurrency on which its really that needing up that good approach and analysis and trading skills isnt something that you would really be able to learn to a short period of time and this is why its really that recommended that you do have at least that realizations so that at least that you do know on what you are doing. It isnt really that a get rich quick scheme and you will be able to find for yourself at the moment that you had step your foot into this market on which its never been that simple.

[passwordnow]

I'm not sure if that's just part of a script or he really told that about, people should judge him with his losses and not with his wins because he only got a few.

If he or anyone else made that statement, that's actually being truthful. It's what it's. We're in an era where pretentiousness and deceit rule the world. Truth is often hidden in such a manner that only a tiny bit tells it. A lot of us weren't told to expect losses while starting up trading and so when we started experiencing losses we thought it was abnormal and something to be ashamed of. Whereas losses are an integral part of winning, both in trading and in real life.

That's a kind of encouragement for those that are starting out. And it's sad that there were many have been misled telling them that they're going to win without telling them that there's a chance of losing money. While we're truthful to the new ones and telling them to be careful because volatility could hit them badly. So with that lesson, people should learn how to minimize losses before they can proceed and maximize their potential winnings. This is the reality and you're right, this isn't just in trading but also in real life.

[cute nmp]

Not at all it is a gradual process that takes time,patience and consistency .Its not a get rich quick scheme as claimed by many influencers and YouTubers.

[Strongkored]

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 have very little experience in forex even involved in this trade only through copytrade and not very successful so decided to stop trading.
I only heard that there are forex traders who can quickly make big money but it turns out that it is not entirely true because the trader has been proven to be scammer.
So in my opinion it is the same as crypto trading, you can quickly get money and vice versa, depending on how to trade and the amount of money used as well as trading skills, so normal trading requires skills without skills but can make money seems like a scam.

[Asiska02]

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 would only put it in that way if one is able to understand the market faster and becomes profitable within that time said to be getting rich quick. Becoming profitable in one year or two years can be a short time to someone to become rich when it happens within that period while to some it is a long time. One thing with trading generally and not just forex trading is that, once the profitability comes, it makes you rich at a go which will cover fir the years you’ve loss in the market and that’s why some people see it as a get rich quick scheme. It depends on how long you call something a get rich quick scheme before you can call forex trading one.

[Franctoshi]

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 don't see how his Twitter statement even align with the way that Forex works, because Forex is a market where banks exchange one currency to the other,  and for you to trade profitably in the Forex market, you need the skill because you can't go to the farm without a hoe. Therefore, If he hard said Forex is gambling then we would also know the angle from which he's talking from and it will been quite understandable. Forex has been there for decades and Banks and other financial institutions are involved in trading Forex market, so I wonder what now makes it a get rich quick scheme.

[uchegod-21]

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,

If you really have good experience in both crypto and Forex trading, you should not be asking which one will be more profitable, because you must have figured it out yourself since you tried both. I doubt that you have experience, I'll simply recommend you spend some bucks and learn how to trade properly

No.

Most forex traders that I know are not making money from it like that.

Most traders not making money from trading doesn't actually make it not to be get rich quick scheme. What it means by get rich quick is you could get rich or go broke my chance or luck.

[knowngunman]

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?

This is not true! Forex trading is not a get rich quick scheme but to be realistic, that's what majority assume it for. Majority of forex trader or learners per se believe it's an opportunity or avenue to become rich over night. This is a misleading belief thou because forex trading has made more people poorer than how many people it has made rich.

When it comes to comparison, of course forex trading can give you quick money than crypto trading but normally it involves more risk as you can lose more money in a blink of eyes. Crypto trading is less risky than forex trading but also gives less profit. Although you can trade crypto too with high leverage to maximise your profits but remember the higher the profit involved, the higher the risk too.

[mirakal]

One way to deceive people is to say that trading could make you rich instantly. And what you have read is something similar to such a situation where you can't find the reality about it. Instead of believing that it is true, better think that what you have experienced before is the same story that happens again.

We should open our minds and realize that getting rich quickly in trading is not possible. You may earn some money, and that's it. But if we think we can earn millions right away, I don't think so.

[Nheer]

This is not true! Forex trading is not a get rich quick scheme but to be realistic, that's what majority assume it for. Majority of forex trader or learners per se believe it's an opportunity or avenue to become rich over night. This is a misleading belief thou because forex trading has made more people poorer than how many people it has made rich.

When it comes to comparison, of course forex trading can give you quick money than crypto trading but normally it involves more risk as you can lose more money in a blink of eyes. Crypto trading is less risky than forex trading but also gives less profit. Although you can trade crypto too with high leverage to maximise your profits but remember the higher the profit involved, the higher the risk too.

Looking at Forex trading properly, to some people it might be a get rich quick scheme but to most it is definitely not so. Generally it is not a get rich quick scheme but it is something that can give you huge amounts of profits in a short period if you’re lucky and applying the right knowledge and predicting price movements properly but then it as risky as the profits you can make so the more likely you are to make profit the more likely you are going to lose your money. Whatever trading it is be it Crypto or forex i don’t see no difference it all very risky as you can instantly lose money.

You're right, many beginners think Forex is a quick way to get rich, but that's a misconception. There's no shortcut to success. It's better to take it one step at a time. Rushing into it can lead to significant losses, and many people have learned that the hard way. Patience and a gradual approach are key to achieving your goals in Forex trading.

[shawonngp]

You have already started with crypto journey, why are you want to diverting to another lane that wouldn't best for you. The simple knowledge and the constant consistency you already have in the crypto market is a good tool for you to get what ever amount you want if you stack more crypto and wait patiently.

Nothing good comes out from been hasty for some quick gains, you'll definitely regret at some point in your life if you consider forex, just know you are on the journey of diverting your focus to something that will ruin your future and funds.

Yeah, we are already on the right track i think, because personally i am crypto trader from many years, and i knew it very well, and sometimes i lose and profit, but overall i am very good with crypto i don't need to invest other platform, i have no interest in forex, nothing easy without knowledge and hard working you will get quick rich.

[$weetne$$]

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?

Neither of them are a get rich quick scheme but there are many fake companies that are offering fake promises of giving you percentages on monthly or weekly based depending on the amount you are investing with them. It is these companies that are making it to look like trading is a get rich quick scheme. For both Forex and Crypto trading, you do any of them without first knowing what you are doing through learning and practicing, you are going to lose aways. Trading does not have a fixed results as you can win some days and other days, you will lose. Starting to trade with the mindset that you are getting rich as soon as possible is false hope because that is not what is going to happen, you are going to lose more than you will win in your first years of trading.

[harapan]

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'm not into forex but then I doubts that forex is a get-rich-quick-scheme because I have one or two friends that are into forex trading and countless time the discussion have held with them trying to know how their forex trading is going I had a convincement that it's not a quick money scheme. Tho sometimes depending on how favourable the market is you might be making profits but in most cases you'll always get loses and you might be left to count your stars. So what I'm saying is it's actually a get rich scheme but it involves time and patience and as well dedication and consistency and it needs to be taking slowly to get a wonderful outcome.

[Bushdark]

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'm not into forex but then I doubts that forex is a get-rich-quick-scheme because I have one or two friends that are into forex trading and countless time the discussion have held with them trying to know how their forex trading is going I had a convincement that it's not a quick money scheme. Tho sometimes depending on how favourable the market is you might be making profits but in most cases you'll always get loses and you might be left to count your stars. So what I'm saying is it's actually a get rich scheme but it involves time and patience and as well dedication and consistency and it needs to be taking slowly to get a wonderful outcome.

There are some times some people do understand about the financial market. It's not a market where you go to make quick money from the market. You might just get such kind of profit you are looking. The Forex market is more severe and hard to make profits compared to the crypto market. You can even make profits from the crypto market by buying coins and holding withiut trading them.
In the Forex market, one you buy any currency it starts reading and if the price goes up that mean you could be in profit if the price does not go against you.

[Pandorak]

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?

To be honest, what he said was not completely wrong, the get-rich-quick scheme could have happened in forex but of course there was a big risk to be accepted.

I will give an example, you enter with a lot of $1 opening 10 positions, if the price goes according to your analysis up to 100 pips (1000 points) the profit earned is already $10,000, so the get-rich-quick scheme is indeed true and of course must be accompanied by large capital. Those who do not understand risk and only think about profit will not get it all.

Many other aspects affect, ranging from the application of Strategy in trading ^[1], Money Management ^[2], Trading Plan, ^[3] even Psychology ^[4] also affects the level of success in trading.

This requires high flying hours, those who feel the bitter sweet in the world of forex will be formed by experience, be it trading Gold or trading Major pairs.

It may sound easy but the reality is very difficult, i talk like this based on personal experience, there are many causes of failure that i experienced, but many lessons can be learned, that's the most important thing .

[jaberwock]

Neither of them are a get rich quick scheme but there are many fake companies that are offering fake promises of giving you percentages on monthly or weekly based depending on the amount you are investing with them. It is these companies that are making it to look like trading is a get rich quick scheme. For both Forex and Crypto trading, you do any of them without first knowing what you are doing through learning and practicing, you are going to lose aways. Trading does not have a fixed results as you can win some days and other days, you will lose. Starting to trade with the mindset that you are getting rich as soon as possible is false hope because that is not what is going to happen, you are going to lose more than you will win in your first years of trading.

I think yeah because a quick-rich scheme sounds shady but forex and crypto are only just a general term. We are also talking about trading here and we are the ones than handles it. It was investing is where these quick-rich schemes originated. We still can choose to invest on our own. There are plenty of benefits out of it apart from not being scammed. In a non-shady way, I think we still can consider cryptos as a quick-rich scheme due to their high volatility/profit rate if we are that good enough or just lucky. As a starter in trading, I think it is still possible for them to earn more than what they lose, as long as they are well prepared.

[UNTO Chain]

Forex trading can be a lucrative investment opportunity, but it's important to approach it with caution and understanding. It's not a get-rich-quick scheme, as success requires knowledge, discipline, and careful risk management.