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Is quick profits achievable?


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  • 4 months later...
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  • 2 weeks later...
7 hours ago, nanamage said:

Usually, careless trading makes quick profits and margin calls quickly. So be wise when trading, because it's your real money. So, choose a broker wisely and based on your trading technique. Some brokers are strict in using scalping, for example, Instaforex.

Trading forex need patience to waiting best time and the price, sometime fear of missing out only dragging transaction to loss floating, discipline is needed to get quality trading.

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Quick profit is possible, and I believe it is referred to as "scalping," in which you trade for a few minutes and then close, as opposed to a daily trader who trades for a day and then closes.

There are already many scalper traders, but I suggest learning about forex trading properly before scalping since there are many risks involved in it.

 
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It is possible to make quick profit from forex trading is get support by the price movement, in trading we know the trend market always changing, and there are sideways condition where the prices seems no movement, in this condition of course will difficult to make quick profit and many trader prefer avoid sideways market because the risk uncertain and get bored.

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17 hours ago, Namu said:

To start forex trading, traders must first choose the right and safe broker. So that later they can trade comfortably and safely. That is why, is the FXOpen broker safe and regulated?
 

Yes FXOpen is regulated broker in three jurisdiction UK, AU and EU, the broker regulated by FCA, ASIC and CySec. From the official source here the detail.

FXOpen Markets Limited, a company duly registered in Nevis under the company No. C 42235. FXOpen is a member of The Financial Commission.

FXOpen AU Pty Ltd., a company authorised and regulated by the Australian Securities & Investments Commission (ASIC). AFSL 412871 – ABN 61 143 678 719.

FXOpen Ltd. a company registered in England and Wales under company number 07273392 and is authorised and regulated by the Financial Conduct Authority (previously, the Financial Services Authority) under FCA firm reference number 579202.

FXOpen EU is a trading name of FXOpen EU Ltd. FXOpen EU Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 194/13.
 

Based in my experience FXOpen is trusted broker, I already trades using this broker more than nine years

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13 hours ago, James Mcgrant said:

Quick profits may be achievable, but you wouldn't be making profits with each and every transaction, and hence, you need to learn about managing risks to achieve success in forex trading.

 

It will depends on the market conditions, when the trend strong in long rally, making quick profit is seems easy, just like as yesterday's market when XAUUSD break low and dips drop, making good profit with sell order achieved only need less than one hour.

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12 hours ago, Harvey said:

Making money in the forex market is difficult. Furthermore, you will also lose money when you make a 20% profit. Anyone can succeed in forex if they are a competent trader and have the ability to educate themselves on the subject.

Yes this is fact if making money from forex market is not easy, however it will depends on the knowledge and skill of each trader, I see the winner contest in forexcup.com 2022 generated profit more than 800% a year trading with siginificant profit result, it is means there are gap to achieved success if we know how.

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Although it is possible to make money in the stock market in the short term, long-term investing and the power of compound interest provide the greatest earning potential. As the value of your assets rises, so does the total amount of money in your account, making room for even more capital gains.

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The most important thing become independent traders is having good knowledge, skills, strong psychology to making good quality trading, able generated consistent result in trading and make account grow. Compund will become good option when traders having profitable trading strategy,however it will safe when you get break even point first before planned to compound..

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It is possible to take quick profit with scalping trading strategy, however not all traders suitable with scalping because needs more focus in fron of the chart, and there are some traders uses scalping ea to replace hands making transaction in forex market. Choosing low spread broker like FXOpen gives benefit for scalping traders because spread from 0.0 pips, even possible get negative spread on TickTrader terminal platform.

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  • 4 weeks later...
On 1/15/2023 at 12:47 AM, FXOpen Trader said:

We will need to start doing our trades with the International based Broker.

I think brokers like hotforex, xm, exness, octa, lmfx etc can be shortlisted for trading while looking for international reputed broker.

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Quick profit from trading can be obtained by scalping trading, however not all traders suitable with scalping trading strateg. Using low timeframe to catch profit from one wave of price movement the quick profit probably obtained in the high volatile market.

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