How much do people make trading FOREX | Forex Factory

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How much do people make trading FOREX

  • #1
  • First Post: Jul 14, 2011 4:28pm Jul 14, 2011 4:28pm
I was wondering because i here people talking about how many pips they brought in 15, 50, 165. I know what a pip is and it comes down to their levarage i.e. 50:1, 200:1 and lot size they trade standarad lot (Lot 1) e.t.c

Im trading with a demo account 50:1 leverage with standard lot 1 and I started with 3,000$

This most this has ever made me wat 392$ which was around 39.8 pips!

Would it be possible to make around 1200$ a week trading forex, taking only 40% of what you make a week for yourself, then putting 60% back into the account to grow it?
Voodoo Economics.......
  • #2
  • Jul 14, 2011 10:27pm Jul 14, 2011 10:27pm
I would make a large profit some weeks, but then loose it the next, so it has been a rollercoaster ride the 2 years I have been trading.

I would say it is possible with the right discipline and good money management. But still unlikely (from my experience at least )
  • #3
  • Jul 14, 2011 10:33pm Jul 14, 2011 10:33pm
Quoting jcdollar
....Would it be possible to make around 1200$ a week trading forex...........?
With $240,000 - Quite possible if you are a very good trader

With $3,000 - No.
The Thief of Wall Street
  • #4
  • Jul 15, 2011 1:21am Jul 15, 2011 1:21am
Quoting jcdollar
I was wondering because i here people talking about how many pips they brought in 15, 50, 165. I know what a pip is and it comes down to their levarage i.e. 50:1, 200:1 and lot size they trade standarad lot (Lot 1) e.t.c

Im trading with a demo account 50:1 leverage with standard lot 1 and I started with 3,000$

This most this has ever made me wat 392$ which was around 39.8 pips!

Would it be possible to make around 1200$ a week trading forex, taking only 40% of what you make a week for yourself, then putting 60% back into the account to grow...
pips mean nothing, only percent growth matters. With 3,000$ it is absolutely not possible to make 1200$ a week consistently. You would have better luck buying lottery tickets and winning the lottery. And since you even have to ask this question it means that you are probably totally new to trading. Better question you should ask at first is how you can become profitable consistently. Don't forget, the best traders in the world "only" make between 50 to 200% a year consistently (market wizards). And they are the best of the best.
  • #5
  • Jul 15, 2011 5:56am Jul 15, 2011 5:56am
I have been trading for a number of years.

it is only now that I can make some gains.
I have made 300% in 1 month, and its not unreasonable to be able to make a few hundred dollars a night easily. and definately 5% per month on large accounts and 50%+ on smaller accounts.

Its mostly in your head but also ALOT of SCREEN TIME> getting used to the market behavior, identifying trends, patterns, economic landscape and news releases.

Dailyfx is a great website to cover alot of goo live/video analysis to learn how real traders think and execute.

good luck, and my best advice is start small .1 lots only for a long time, then go crazy and blow your account a few times. That way you learn to be impartial and wary of overleverage and to control your emotions.
Also, constantly listen to audiobooks on growth, and motivation, or other topics. It helps change your paradigm so you can learn to be maleable to life and the markets.
  • #6
  • Jul 15, 2011 10:32am Jul 15, 2011 10:32am
Thanks for all the replys, I understand it takes time, I was just wondering what you can acutally make! I am lucky and a stay home Dad, so my time to look at charts and be online is 8hrs day, Im starting to learn. I have blown through 2 demos when I first started using semi-robots and robots and then just trying to trade blindly. So I am learning to trade! Thanks for the advice.
Voodoo Economics.......
  • #7
  • Jul 15, 2011 12:30pm Jul 15, 2011 12:30pm
Always keep in mind MOST traders loose ALL their money, while SOME others don't.
Don't get mad, get even!
  • #8
  • Jul 15, 2011 1:52pm Jul 15, 2011 1:52pm
I started with 500.00 I'm 3 weeks in and I'm at 2138.67
  • #9
  • Jul 15, 2011 9:50pm Jul 15, 2011 9:50pm
Quoting jcdollar
I was wondering because i here people talking about how many pips they brought in 15, 50, 165. I know what a pip is and it comes down to their levarage i.e. 50:1, 200:1 and lot size they trade standarad lot (Lot 1) e.t.c

Im trading with a demo account 50:1 leverage with standard lot 1 and I started with 3,000$

This most this has ever made me wat 392$ which was around 39.8 pips!

Would it be possible to make around 1200$ a week trading forex, taking only 40% of what you make a week for yourself, then putting 60% back into the account...
realistically, a few % per month

like imagine making 1% per day.. thats enough to make you a millionaire within 3 years your starting capital being $3000


you'll be lucky to make a dollar when your first start trading.. actually I recommend you put a lot less money into this game.. your going to blow your first account.. and if by some magic you pull in profits for a few months then add the rest to your account
  • #10
  • Jul 16, 2011 1:22am Jul 16, 2011 1:22am
Couple of hundred of $'s each day on average on a standard lot is typical amount of profit that a successful forex trader can make.

You will hit a thousand+ $'s profit jackpot once in a while more during the busy season but don't count on it. On some days, you will make a loss so on average, couple of hundred of $'s each day is what you can expect.
Make your losses in demo. Earn your profits live.
  • #11
  • Jul 16, 2011 1:53am Jul 16, 2011 1:53am
How much do people make in FX ? Hmmmm....I think it
depends on how big your account is....the bigger the
account, the better chances of profit....

Also its subjective, some traders are happy with
USD$2K per month, others think its too little....

For my case, I make good profits and its better
than getting a FT job....
  • #12
  • Jul 16, 2011 6:34am Jul 16, 2011 6:34am
Quoting jcdollar
Thanks for all the replys, I understand it takes time, I was just wondering what you can acutally make! I am lucky and a stay home Dad, so my time to look at charts and be online is 8hrs day, Im starting to learn. I have blown through 2 demos when I first started using semi-robots and robots and then just trying to trade blindly. So I am learning to trade! Thanks for the advice.
You are just in starting out phase .

Play it safe using proper money management.

After few more years , with lots of experience of winning and loosing , you will slowly realise that you are getting in synchronisation with the markets and making money would be just like that trading the clear set up you see market has put for you and you enter and make money .
Yes if you are really willing and persistent and have self discipline , you would make out a lot of money out of market .
I am speaking from my own experience.
All the best .
BEING PROFESSIONAL IS ALL ABOUT HOW YOU CONTROL FASTEST THING--UR MIND!
  • #13
  • Jul 16, 2011 6:36am Jul 16, 2011 6:36am
Quoting Forexia
Couple of hundred of $'s each day on average on a standard lot is typical amount of profit that a successful forex trader can make.

You will hit a thousand+ $'s profit jackpot once in a while more during the busy season but don't count on it. On some days, you will make a loss so on average, couple of hundred of $'s each day is what you can expect.
I agree with Forexia.

This is true and if you compound even 20 to 30% of your profits , by the end of year you would have increased your profit potential almost 2 to 3 fold with reduced risk on each trade.
BEING PROFESSIONAL IS ALL ABOUT HOW YOU CONTROL FASTEST THING--UR MIND!
  • #14
  • Jul 16, 2011 9:33am Jul 16, 2011 9:33am
I have a trading Income calculator so i try to go off that..Im doing 8% a day..I finished fri at 2174.00 so monday my goal is ....180.00 witch is pretty easy to do for me..It was rough starting out..But once you get up past 2,000 it gets easier..on a one month plan at 8% i should be at 8921.00 ...WE will see...
  • #15
  • Jul 17, 2011 12:49pm Jul 17, 2011 12:49pm
learn the indicators, stick with demos for a long time, start small, watch the pips and % never the $$$'s. If you do well over a couple of months, invest more and don't risk too much of your account at a time.
It's possible to make a lot of money in forex. It's possible to lose all of it.

oh and for anyone wondering how to actually calculate income,

amount of money * rate of inflation/ growth (done as 1.xx) ^number of time period unit.

e.g. if I had $1,000, my growth rate was 20% per month and I wanted to know how much I'd have in a year it'd be

1000*1.2^12
  • #16
  • Jul 18, 2011 5:59am Jul 18, 2011 5:59am
You should ask how much do people lose with Forex , food for thought.
  • #17
  • Jul 18, 2011 6:28am Jul 18, 2011 6:28am
Quoting EdgarNg
You should ask how much do people lose with Forex , food for thought.

good question! That's what newbs should ask in the first place and just try to avoid losing instead of trying to win. That will shift their mind to what it actually takes to become a winner.
  • #18
  • Jul 18, 2011 6:47am Jul 18, 2011 6:47am
It's about managing risk and having an edge.

How much you make depends on your account size; risk per trade; and how frequently you trade; more than the extent of your edge.

There are too many variables to give a one-size-fits-all answer.

What others make ultimately has no bearing on how much YOU will make.
  • #19
  • Jul 18, 2011 6:50am Jul 18, 2011 6:50am
Quoting hanover
What others make ultimately has no bearing on how much YOU will make.
I disagree, I think you have to learn from what others are doing, so if someone always loses, obviously you wouldn't use a similar system to them.
To be a successful beginner, you have to learn from the experienced
  • #20
  • Jul 18, 2011 1:00pm Jul 18, 2011 1:00pm
Quoting adi19956
To be a successful beginner, you have to learn from the experienced
I agree. At least to start off with, then once you have observed more about the market and yourself, you can tweak your trading to fit your own trading style and etc.
Make your losses in demo. Earn your profits live.
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