₦airaland Forum

Many people have spoken the partial truth about forex that you would lose all, lose most of the time and take long time to become profitble after losing much. Thats 100% correct. But what they forgot to mention or dont know is this, for a very complex and huge market like forex, YOU DON'T VENTURE INTO IT WITHOUT ANY EXPERIENCED GUIDE. you would have to learn from your own losses in that case and it can be for a very long time of losses like most people have been pointing out here so far. Its clear to see their foolish mistake is venturing into it on their own. Theres a proverb that says follow a man that has gone twice through the road you are about to take so you wont fall into errors and costly mistakes. The same applies in anything you want to venture into, whatever business it is. Its always far much easier that way. There are people making consistent profits from forex although very few. There are many reasons why people loses most of the time in forex and one of them is greed, uncontrolled emotions. Nothing punishes greed in this world like forex. Sometimes i trade just 2 or 3 times in a week and am satisfied with whatever i get. You can check my profile.

Chechelenche:
I’ve come across numerous blogs and social media posts where people flaunt wealth—exotic cars, luxury homes, and frequent vacations—and claim it’s all from trading forex.

I’m interested in getting into forex trading, but honestly, I’m quite skeptical. Are these claims actually verified?

Most people I’ve spoken to in real life seem to have stories of losses rather than consistent profits from trading, and this has made me very cautious.
I’d appreciate it if experienced traders or knowledgeable members here could share honest insights.

Is forex trading genuinely profitable in the long run, or are most of these online displays exaggerated or misleading?

Elder brother of sportybet is forex

Check profile to earn and leave forex and betting.

I Prefer sporty than Forex!

Stephen0mozzy:
This right here 💯💯

Many of them are just "tutorial sellers", claiming "coach" title. But the general market of Forex is quite profitable for longshots.

You can be made with one lucky call, or be bankrupt in one unlucky fall.

If you study forex trading diligently and acquire the right knowledge and imbibe the discipline that the craft requires, you are made for life.
Most people jump into forex with the mindset of get rich quick and gets ruined.
Then they start shouting that forex is scam.
It's my craft and it's consistently paying well.

I will encourage you to learn both Forex and Crypto together and then make your choice. Personally, I prefer Crypto to Forex. I see Forex as gambling. Once you enter a market, let's say GBP/USD, you will either lose or gain.

Some people will tell you that Forex is better than Crypto, but I think it is not true. I believe in the future, there will be more people trading Crypto than Forex.

Just learn both and choose your poison wisely. Just note that there are more losers than winners. Also, always have a backup plan

Rob Peter to pay Paul .

Nice question.

Yes people make money but only about 5% of traders.

1. Traders who are not greedy

2. Traders who understand that slow and steady wins the race.

3. Traders who use their money to trade and not those who borrow money to trade thereby reducing pressure to rush things hence lose more.

4. Traders who know there is no holy grail trading method and will stick to a profitable trading method even during the downtime.

5. Traders who have huge money to trade so that making just 10% profit a month will be reasonable and not traders who open accounts with 200usd and hoping to make 1k profit in a month.

6. Traders who are smart enough to put their manual trading methods into EA (Automated trading method) so they will not be controlled by emotions.

7. Traders who understand that trading fx as the only business is risky hence only do it as part time no matter how much they make so there will never be pressure to make so much to cover bills.

On a final note, fx trading is not for the weak and if you are thinking of taking it up as a career, i will rather advise you prepare mentally, emotionally, physically and financially cos it may take so much from you before you start making consistent profits.

My advise is to be patient learning and never ever open a live trading account until you can consistently build a 500usd demo capital to 5000 three consecutive times and even when you finally open a real account, hands off manual trading but convert your trading method into an EA and set it up then face other businesses.

Most flashy social media posts about forex profits are exaggerated. Consistent success takes years of learning, discipline, and risk management, and many beginners experience losses. A smart approach is to start with education and demo trading, and keep your funds secure—some traders use crypto virtual cards to pay for brokers and subscriptions safely, with control over spending and the ability to freeze funds if needed.

QuinQQ:
There is money then there is money. See below.

you see the logic, na why una dey lose, get rich quick symdrome dey worry una

if you make $10, every hour trading forex, in 12 hours, that is $120, in 7days, that is $840 per week, in a month $3,360, na how dem dey play the game.

mascot87:
I am a full time forex trader and I will tell for a fact that you will lose a lot of money for the next 3 to 4 years or more depending on how you master yourself and until you figure out how to master the market.
Yes,you can make it in the market but not immediately. If you no get mind,no put body o. A lot will happen in your life that will make you hate it during the period you are trying to figure things out in the market.
I have been in it full time in the last 3 ½ years and I can tell you it's hell but it's getting better.
I can tell you for free, you will lose ALL. Just make sure you have backup funds or you have something you are doing that gives you steady income that will support the loses you will incure in forex.
If you want me to guide you,you can message me. I'm not collecting anything from you.

Make I add: It is also very addictive and once you start,you might not be able to stay out of it. So in the long run, it is either you get serious and make it from there or it ruin you life. (This is a FACT)

These loses, who gain them? I think those are the ones that makes money from FOREX Trading.

i take God beg you

anything
1) Forex
2) Crypto
3) Sports betting

that you are doing, to get rich
because someone on social media is flaunting and buying big cars every year, traveling abroad etc
STOP IT NOW. YOU WILL BE RUINED!

all those guys are influencers. they are selling a lifestyle. they are fraudsters. someone is losing money for them to make money.
people will disagree with me, and probably abuse me, but i beg you, i am not a hater
i am telling you the honest truth

think about this
1) ABOKI people have been doing forex since Nigerian independence, you don't see them buying cars every year
2) in the US, to become a government registered trader you must write difficult financial exams (see the attached picture)

but on social media, you will see some kid, start trading, one year later, he buys a lambo, carries girls, and travels the world

THEN SELLS SIGNALS, REFERS YOU TO A BROKER, OR TRADING PLATFORM ETC ETC

thats where he makes his money, referalls

you get attracted by his lifestyle, you join his course, you put money in his exchange, your money hangs, he gets his percentage
its just a ponzi scheme bro...

A resounding YES!

I want to say something about it before but immediately I read this I knew that you are a trader. Because I lost for good ten years but now the case is different

mascot87:
I am a full time forex trader and I will tell for a fact that you will lose a lot of money for the next 3 to 4 years or more depending on how you master yourself and until you figure out how to master the market.
Yes,you can make it in the market but not immediately. If you no get mind,no put body o. A lot will happen in your life that will make you hate it during the period you are trying to figure things out in the market.
I have been in it full time in the last 3 ½ years and I can tell you it's hell but it's getting better.
I can tell you for free, you will lose ALL. Just make sure you have backup funds or you have something you are doing that gives you steady income that will support the loses you will incure in forex.
If you want me to guide you,you can message me. I'm not collecting anything from you.

Make I add: It is also very addictive and once you start,you might not be able to stay out of it. So in the long run, it is either you get serious and make it from there or it ruin you life. (This is a FACT)

/
People who make money keep quiet.. no need to sell programs.
/

macphilip:
As someone that works in the forex industry, I know of a client that has been withdrawing profits daily, weekly, monthly consistently in the last 3 years. I also know of 98% of traders that lose their account deposits within the first 1-2 weeks of trading.
I myself I traded a highly profitable strategy, withdrawing monthly between 2014 - 2016 until the broker stopped paying and forcefully closed my account.

So, you've not been trading since then? 🤔

.

Yes. Banks, institutions like hedge funds etc. these days the markets move very rapidly so I doubt if you can make money reliably and dependably .

The odds are stacked heavily against the trader

I dunno about forex, but crypto has been taking care of personal needs since 2020.

prophetfire:
If you study forex trading diligently and acquire the right knowledge and imbibe the discipline that the craft requires, you are made for life.
Most people jump into forex with the mindset of get rich quick and gets ruined.
Then they start shouting that forex is scam.
It's my craft and it's consistently paying well.

I agree with you very well Chief. The parts of your statement highlighted in bold are the things the "coaches" who are just interested in you buying the course, won't tell you.

All skills have their curves for learning, which if you don't learn with patience, you'll learn with pain.

One thing I can tell you from experience is forex is profitable. But you must be ready to humble yourself.

Don't start with a real account. Practice for three months on a demo account. Then transit to a real account with $20. Look for a broker that enables you trade micro lots. Do this for six months to one year to horn your skills.

Forex is not a get rich quick skill. Always study the markets and learn how they move. But if you're consistent and learn from your mistakes, you will make it in forex.

Chechelenche:
I’ve come across numerous blogs and social media posts where people flaunt wealth—exotic cars, luxury homes, and frequent vacations—and claim it’s all from trading forex.

I’m interested in getting into forex trading, but honestly, I’m quite skeptical. Are these claims actually verified?

Most people I’ve spoken to in real life seem to have stories of losses rather than consistent profits from trading, and this has made me very cautious.
I’d appreciate it if experienced traders or knowledgeable members here could share honest insights.

Is forex trading genuinely profitable in the long run, or are most of these online displays exaggerated or misleading?

Of a truth, Forex is profitable with the right knowledge and good capital. I’m a forex trader and I make good returns every week. Consistency and right knowledge is the key. Above all to do away with greediness.

I can show you the way for free but you must discipline and ready to learn.

OGOLMEKZ95:
FOLLOW BACK BRO.

Follow back for where? Where does NL follow button lead to?

You are same as the one you quoted and we know what you are trying to do here. Casted format.

rickpat:
I see forex,I run ooooo...my mind no carry am....but you can make money with constituency, but you go lose tire oo..

As for those tutorial people, if the person was .making the dollars will he remember to come sell tutorials to anyone?..those ones are just looking for your small cash

IMAGINE losing consistently for 3 to 4 to 5years or more before becoming profitable. Abeg you will share your knowledge for free?
If you know it feels to share that pain for free and people taking it for granted you wont be saying this.. you thought Dangote will tell his secret in his line of business for nothing,lolzzz.... You must be joking. Jokes on you , knowledge is not free bros ... I just closed a group recently cus i was charging amount just for data to make video recordings for newbies, now I charge some good amount, i no dey beg anyone... If you ready just come learn... Lolzzz

Chechelenche:
I have always wondered why they sell ebooks if they make so much

There is education attached to every endeavor... You dont get it cheap , no dey deceive yourself, most free things comes with less value

There is no difference between forex trading and sports betting. The use of historical data to predict future events.
Yes, you can make money but more people lose money than make money in both.
Personally, I have made more money from sports betting than forex trading.
In fact, my overall sports betting result will be a profit while my overall forex trading will be a loss.
Both of these forms of gambling require luck but some skills too. Maybe, I am more skilled in sports analysis than forex analysis.
It may be different for you or another person. However, in both of them, you must learn from experience which often comes with losses.

mascot87:
I am a full time forex trader and I will tell for a fact that you will lose a lot of money for the next 3 to 4 years or more depending on how you master yourself and until you figure out how to master the market.
Yes,you can make it in the market but not immediately. If you no get mind,no put body o. A lot will happen in your life that will make you hate it during the period you are trying to figure things out in the market.
I have been in it full time in the last 3 ½ years and I can tell you it's hell but it's getting better.
I can tell you for free, you will lose ALL. Just make sure you have backup funds or you have something you are doing that gives you steady income that will support the loses you will incure in forex.
If you want me to guide you,you can message me. I'm not collecting anything from you.

Make I add: It is also very addictive and once you start,you might not be able to stay out of it. So in the long run, it is either you get serious and make it from there or it ruin you life. (This is a FACT)

You are a good man

obeegee:
You can make money from it if you are not greedy

And if you are greedy, you will make money from it?

BouquiLake:
I trade for myself butvyet to get to the full profitable trader level.

The moment uou see any Forextrader selling anything... Turorial, Strategy, Training in the name of Academy etc.... They are not making money. If they are, they wint need to sell anything. They should be able to help others come up if they are sure of themselves.

Reason why many dont make money. No one will leave their time for you

Yes. Real but so volatile. I prefer domain trading. . You can but a domain $10 and read above $200 after marketing. Check this awareness thread to learn more; https://www.nairaland.com/3430037/what-make-money-online