Is it really possible to become rich from trading?

[TeeKay]

Some day-traders may say yes, especially if you have a tolerance for risk,

You better learn a lot! Risk is inherent and managing risk is one of the keys. Getting good trade location is another, managing your psychology for better exits is another. Trade setups and indicators are the very least of your concerns. Learn to accept and manage probability and risk and work hard in understanding the nuances of the market. Trade for points not pips. Don't try for home runs either. Document everything and have a plan before you do anything, work out stops in sensible locations and targets that are attainable, then work out risk and reward and compare to your expectancy from your records of past trades on any given setup. Grade yourself.

Can you get rich? Yes but not if you dabble or listen to people trying to sell you the latest greatest indicator. Some are valuable but most are lagging so don't waste your money on them. Understand where buyers buy and sellers sell and the psychology why and make your entries there. Plan everything. Never chase.

Ah enough!

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Written by someone who I believe has more than a passing interest and a background in trading. I couldn't agree more. It takes patience, skill development/education and the right frame of mind. It's open to all but many fail because they simply do not understand the markets and/or won't devote the necessary effort to learn. Can you make money, yes. Is it for everybody, no.

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[BlueSkyCowboy]

It is called "going up the stairs and coming down with the elevator"

[paddyjenkins]

Yes, it is possible. It is also possible to lose everything you have and become poor. Or it is possible to do neither but make enough, but thats less likely than losing the lot as far as I've seen. Personally I've met more people who have lost everything than become rich, although I've met many people who should be rich if there claims of being fantastic traders and investors were just half way accurate. But the ones who have become genuinely rich have become very very rich, so it all evens out in the big picture. I've also known people who somehow started rich and thought they would get even richer if they traded and then they became poor, after literally losing the lot. It's amazing how many people I've met who talk rich and then appear to have no money to drink better than beer Chang and live in 700 baht a night hotels. What's most amazing to me is that no matter how badly people do in their actual trading, they often still talk as if they're better than Warren Buffett. Anything is possible.

[hhgz]

"Is it really possible to become rich from trading?"

Pokemon cards, no. Stocks, oh yes.

[wesleyh]

I'm not sure if you can become rich by trading (i suppose certain people did) but i'm 100% almost convinced

that by value investing and compouding(reinvesting) your profits you could earn a nice amount of money over the years.

I personally started 3.5 years ago and i'm happy with the results.

Perhaps my advice to you is take a look if there is not a club of investers close to your home and become a member, listen

to their views and ask as much information as you can.

[Lukecan]

Actively trading? Very slim

Investing? Quite a good chance

Just buy decent companies that pay good dividends when there is a market correction, or a bear market, in the long run you can't lose via dividend investing. Just diversify well, and buy decent stocks. But you still have to invest with a decent amount to make decent amount of money, at least 200k usd.