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

[Fivestar4everMVP]

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?

[Oshosondy]

No.

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

You can make money from forex or crypto trading. But you really need to learn how to avoid losses. Read about risk management. Know what averaging is. Leverage is very dangerous. Earn little is better than lose big in the process of looking to earn big.

Most forex and crypto traders are losing according to researches.

Holding bitcoin is the best
Swing trading is better
Scalping and day trading are the riskiest where most traders are losing more.

[Odusko]

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?

Forget this guy in the image statement, and for goodness sake, for anyone to come up on social media to make such a statement using the word (get rich quick), means he is up to scamming his followers, next thing you hear DM me for mentorship on forex trading and before tomorrow you become a billionaire, bro it doesn't work that way and my take on this is. Before you venture into trading either forex or cryptocurrency trading, you must accept the fact that you can lose all your money, don't let anyone deceive you, trading is not a joke and just as Oshosondi said better to hold your Bitcoin and avoid trading because you lose more than you gain, unless you are an expert trader with years of loses.

[Mpamaegbu]

That comment in that picture is the major reason why so many people think Forex trading is gambling. Many who've been dealt severe blows by losses they incurred trading Forex because of that mindset believe Forex is a scam but it's not; neither is it a Ponzi scheme. Forex trading is a business.

I was also indoctrinated into that mindset as a noob and that was what got me interested and hooked until I saw otherwise. It was after several blown accounts that I realized it was all a deceit and then I reevaluated my perception and charted a way forward for myself. Truth remains that such comment is the opposite of what is real. To state it clearly, like one professional trader opined, "Forex trading is the hardest job where someone can make the easiest money. Forex trading is a serious business that tasks the brain.

[boyptc]

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?

That's just what he think and it's a mere opinion and the same opinion has been said to crypto, that this is also a get rich quick scheme.

But they don't understand the whole thing. Forex is a real thing and IMO it's even harder than crypto if you try trading there. And as you've said, you know and you trade forex so, you know what's better than what that guy said so.

A winner in forex trading will say the opposite.

Someone who lost in forex, will say the same thing.

PS. I don't do forex.

[Wexnident]

~

Never heard of it being one before. And really, any "rich quick" scheme out there is either a scam for you, or others being scammed for your money. Both of which I don't really want to participate in, so would rather not listen to anything that has those two words in it.

Plus, the man sounds like those crypto "gurus" or famous social media personalities that just want to invite newbies into the market to buy their shitcoin so that it'd go boom in the market (*cough* Hawktua *cough*). Dude probably profited 5% and immediately went to twitter to say those types of shit.

[YOSHIE]

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.

Yes, forex trading is one way to make money quickly, you just need to research or know which currencies have changes in value before you buy, if you understand the currency you want to buy you can sell at a high price, forex trading is often called speculative or hedging, if you have done it you will know and you will be tempted to do it.

Unstable economic situation and turmoil regarding foreign currency values, the option to trade foreign exchange, I think is a good opportunity if you want to do it, It's important for you to consult with those who are experienced, they know which currency changes in value and what you want to buy, those who are experienced know better to determine the best currency.

[lovesmayfamilis]

I think it is precisely because of such mottos that many young people rush into trading, but they do not understand that you should not take the expression about quick enrichment too seriously. Any activity with hard work will always give good results. This also applies to trading. But you should never be too hasty; you need to start with each step and get regular experience, building a strategy and charging your patience. There is no quick money anywhere; it is where your path is passed "with sweat and blood." Professionalism is gained through extensive experience, and most importantly, a goal in front of which failures do not break you but make you more determined.

[Odusko]

I think it is precisely because of such mottos that many young people rush into trading, but they do not understand that you should not take the expression about quick enrichment too seriously. Any activity with hard work will always give good results. This also applies to trading. But you should never be too hasty; you need to start with each step and get regular experience, building a strategy and charging your patience. There is no quick money anywhere; it is where your path is passed "with sweat and blood." Professionalism is gained through extensive experience, and most importantly, a goal in front of which failures do not break you but make you more determined.

Very well said, trading comes with a lot of intense demands that force the trader to develop an inner zeel to continue developing and building skills and strategy as the market keeps changing, and before you see a trader who is constantly at profits, you see a person that has gone through a lot but refused to give up, we lose pick up and lose, then pick up again, no giving up only giving in to constant improvement if you must achieve that success, so making the process of success sounds so easy is a scam attempt, there is no free and easy money anywhere in the world, so no one should expect anything tangible to come in fast.

[retreat]

What the person said just explains how he does not understand what Forex trading is. His lack of understanding about Forex trading makes him think that it is just a get rich quick scheme - maybe he had one bad experience with Forex. But the problem is he said that and there must be other people who agree with what he said.
Basically Forex trading is just an activity where someone looks for opportunities to make a profit from currency trading. If someone thinks that it is a quick way to get rich and he ends up losing a lot from it then it is completely his fault. It all requires knowledge, experience and patience, there is no instant way in trading, if someone already understands how it works, they can definitely make money from it.

[Queentoshi]

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?

The tweet is someone's perspective of trading, so I do not think it to be true, because think of it, if it is really a get-rich quick scheme, why has many forex traders not made it already? There have been people who have spent a lot of time trying to master trading, they thought they did at some point, recorded some serious losses and then became discouraged from continuing. There are still people who are in the learning process till now and have not been able to make any real profit from it despite what they thought initially about it. Trading is not a get rich quick scheme.

[BALIK]

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?

The tweet is someone's perspective of trading, so I do not think it to be true, because think of it, if it is really a get-rich quick scheme, why has many forex traders not made it already? There have been people who have spent a lot of time trying to master trading, they thought they did at some point, recorded some serious losses and then became discouraged from continuing. There are still people who are in the learning process till now and have not been able to make any real profit from it despite what they thought initially about it. Trading is not a get rich quick scheme.

Trading is a get rich quick scheme, especially forex or cryptocurrency futures trading. But the thing is, everything has its price, if we want to get rich quick then the price to pay is greater risk.

In short, making money has never been easy, things will become more difficult and we will have to sacrifice more if we want to get rich quickly. That is why not many people can succeed in trading.

But between crypto futures trading and forex, I would also choose forex because they are less manipulated and have more complete analytical data.

[Oshosondy]

But between crypto futures trading and forex, I would also choose forex because they are less manipulated and have more complete analytical data.

If manipulation is the reason you will prefer forex because that is common in crypto, you can go for bitcoin trading instead. Bitcoin is not manipulated like other coins. Also high marketcap coins like ethereum is also good but I will not prefer it as altcoins can disappoint someone at anytime. That Luna taught us the lesson.

[cute nmp]

Not really at all t is sometime that requires time, effort and patience. Trading is not a get quick rich scheme as many claimed it is one has to go through the process of learning ,Practicing ,doing it live making correction and refining your . It takes a lot of time for one to become a very profitable trader and make lot of money from the financial markets .

[Dr.Bitcoin_Strange]

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?

Bro, you only missed out from learning some of the trading strategies and principles to add to your already earned experiences but you can still improve on that this year if you are willing, most importantly you missed out from blowing accounts bro, because a true reality in trading is that you will face loses and if you lose control, you can get Liquidated especially if you want to have the kind of mindset that is expressed on the tweet in your image.

Between crypto and the forex you made mention of, both are very profitable on the long run, not just within a short period of time, unless if you are very professional and experienced in the business. It will not just take you 1 month to gather all that experience and become so profitable.
I trade just crypto, Bitcoin to be precise and just a few chosen altcoins and I am profitable. Since you are experienced in crypto already, I will advise you go for crypto.

I can say that trading (both forex and crypto) are less stressful compared to some other sources of income, but I can not say for sure that it is a quick way to make money, the only thing that can determine how fast you earn from trading is how experienced you are. For example, if you just have 4, 8, or 12 months experienced in the industry, you can not earn the way someone that has spend 5 years will earn.

[Dzwaafu11]

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.

From the image, this user has many followers, and from how he easily and confidently says that Forex trading is a get-rich-quick scheme, it means that he is up to something; however, obviously we all know that Forex trading is not a get-rich-quick scheme because the risk involved in Forex trading is really high, although you can make money from Forex, and we've seen many Forex traders who are very rich,

but many of them did not start FX trading today; they have been doing it for a long time now, and many things need to be learnt before you think of trading. So don’t follow what this user said. I think he is a scammer because he will definitely start saying he has a mentor shop class, and he will start charging people for that. From there, he will start making money out of it.

[Rockstarguy]

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?

People normally think forex trading is a get rich scheme but it is not and the mistake people normally make is that they rush into it without trying to gain good form of knowledge. Forex trading is not a get rich scheme because it requires a lot to make good profit out from it, it is a skill that requires learning and discipline.

The forex trading market is volatile and making profit at all time is not certain, forex trading is not what someone can depend on as a steady source of income because of the uncertainty of the market. Forex trad8ng can't be consider as a get rich scheme instead forex trading can be considered as an opportunity to trade and make profit in returns and this requires good education, discipline, risk management and strategies.

[TheUltraElite]

Keeping the twitter image of the "self-proclaimed millionaire" aside, forex works in a manner similar to bitcoin trading. You trade one foreign currency vs another and the difference is what gives you the profit in the forex spot market. Then you have futures market and so on.

If you are comfortable with these from the stock market, you will not find difficulty in the forex market. Although clearing houses and regulations are lacking on forex, most people I know have performed poorly and did not make anything out of it.

So it is definitely not a get-rich-quick thing, anything that claims to be so is a gimmick.

[Nheer]

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.

From the image, this user has many followers, and from how he easily and confidently says that Forex trading is a get-rich-quick scheme, it means that he is up to something; however, obviously we all know that Forex trading is not a get-rich-quick scheme because the risk involved in Forex trading is really high, although you can make money from Forex, and we've seen many Forex traders who are very rich,

but many of them did not start FX trading today; they have been doing it for a long time now, and many things need to be learnt before you think of trading. So don’t follow what this user said. I think he is a scammer because he will definitely start saying he has a mentor shop class, and he will start charging people for that. From there, he will start making money out of it.

Obliviously it looks like he is up to something because no real trading expert will make such claims about trading being a get rich quick scheme and confidently telling people that they can get rich quickly is a dubious claim and shouldn’t be trusted at all. Forex trading is as risky as every other form of trading and the risk involved is high not just for beginners but also experts are very cautious when trading the only difference is that experts have knowledge and with that they reduce the risk involved.

If anyone claims they can guarantee success in forex trading then you shouldn’t take them seriously they are definitely up to no good.

it is not ideal to rush into trading without having any form of knowledge about it will only result to loss of money, a lot of people tried it and it didn’t end well for them so you need to learn about it first and even having knowledge doesn’t guarantee success.

[mindrust]

It is exactly the opposite especially if you are trading with leverage and if you don’t use leverage, then there is no point in doing trades on the forex platforms as you can buy and sell currency on every bank app there is.

I don’t see forex as an investment or a way of making money.

To me forex is just another form of casino.

And you should treat forex like a casino.

If you are interested, make some bets but don’t think you can beat the house in the long run.

Actually you can beat the house in sports betting because of that all ev+ betting stuff. It is probably not possible with forex so… I don’t like forex at all. Zero entertainment value and no chance to win.