Anyone here who has had regular success?
2006-07-04 15:44:54 · 7 answers · asked by justine d 2 in Business & Finance ➔ Investing
hey edgar*, that's an inspiring story!
2006-07-04 21:14:42 · update #1
I haven't done Forex Trading, I teach PennyStocks Trading and I daytrade it as well, but I have two friends who are almost retired and have already about 10 homes rented out in Vegas started off doing JUST forex. THey're 25 years old, and they began with 30,000 and now they're netting about 2.5 mill a year. They did it together, one guy slept the first 12 hours, and then he woke up, and the other took over, cuz you can trade Forex 24 hours, but you have to be VERY good in terms of knowing what goes on in a particular country and their economics, political issues, bond rates, etc....It's the hardest, but it's the most rewarding. :)
2006-07-04 16:15:54 · answer #1 · answered by Edgar A 2 · 0⤊ 1⤋
It is a possibility to earn a large amount of money doing forex trading. Earning this money will depend on various factors such as how much money your willing to put in and experience.
Being successful in the Forex market requires plenty of practice and learning and any loss you make, what ever the amount is just another opportunity to learn and pick yourself back up.
It is also important to have a plan set out which will help you incase of unusual movements in the market. Sometimes developing a trading plan may require trial and error, but as you continue to trade, you will gradually have a better grasp of the market. Even after developing a plan, you must also remain flexible just in case your plan may not be able to hold you up. Playing it safe means using money you can afford to lose, because your money is the only way to keep you afloat in this market.
The usage of charts and indicators may help you making better decisions when in the market.
All these factors take time to learn and develop, but if you take all of them into consideration, it is very possible to earn a good living by trading in the foreign exchange market.
2006-07-05 22:56:37 · answer #2 · answered by Dreamer 3 · 0⤊ 0⤋
Yes, you can, but only professionals do because they have the info, smarts, and contacts.
It's pretty much a "zero sum" game. What they make is what you (the amateur) lose.
Those that became "rich" are not hanging around answering Yahoo Q&A.
2006-07-04 22:55:55 · answer #3 · answered by Puzzleman 5 · 0⤊ 0⤋
If you are not already a rich person I suggest you to stay away from Forex.
Top 4 Answerer in Business & Finance. (Vote for me. I just need 100 more votes)
2006-07-04 23:26:31 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I personally didn't but that is only because I had to stop, I was unable to continue trading. But I know of people who have. It's very easy to learn how to do.
2006-07-04 22:49:02 · answer #5 · answered by MichaelP 4 · 0⤊ 0⤋
All the infomercials say you can......so why not believe them? They are soooo very wise.
2006-07-04 22:50:53 · answer #6 · answered by jadz 2 · 0⤊ 0⤋
u could if u are a good market watcher or get yourself a good broker
;)
2006-07-04 22:48:12 · answer #7 · answered by Citla1012 3 · 0⤊ 0⤋