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How much do people make trading FOREX

  • #201
  • Feb 3, 2016 11:48pm Feb 3, 2016 11:48pm
Quoting Greeny
This thread is the reason these forums are often not healthy. In answer to an earlier question, "is this forum representative of all forex traders?" . Absolutely not, it represents a large portion of the "wannabe's" out there, but most successful traders just read these things for a bit of light relief. To answer " how much can I make trading?", the answer is entirely dependent on a heap of things . yes , some people do make huge money, despite earlier disbelief from a couple of posters, there are fortunes made...but also lost. However, you will...
If I want a real laugh about trading or when I have down time, made my pips for the day or just have time to burn I visit the Forex Factory, it's a very funny place but for any newbie out there do yourself a favour and read the above post by Greeny. It is without doubt one of the best posts I've ever read on here and true down to the last word.
Ardua Ad Astra Per
  • #202
  • Edited 2:58am Feb 7, 2016 2:42am | Edited 2:58am
Quoting Greeny
This thread is the reason these forums are often not healthy. In answer to an earlier question, "is this forum representative of all forex traders?" . Absolutely not, it represents a large portion of the "wannabe's" out there, but most successful traders just read these things for a bit of light relief. To answer " how much can I make trading?", the answer is entirely dependent on a heap of things . yes , some people do make huge money, despite earlier disbelief from a couple of posters, there are fortunes made...but also lost. However, you...
Yes, it is.
The many characters contributing in this web site are like a "world of forex human comedy" in the Balzac sense of the term.
The usual suspects are all represented.
They all strive toward 1 goal; to reach the mystical status of the "trader at home forex millionaire"
Indeed mystical, due to the fact that "some people do make huge money" - as you state it - is always heard of, but never proven.
  • #203
  • Feb 7, 2016 3:30am Feb 7, 2016 3:30am
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 it?
Imagine having a losing streak which happens eventually and you lose 300$ every time. You could pretty much blow up your account or cripple it.
  • #204
  • Feb 17, 2016 10:16pm Feb 17, 2016 10:16pm
with technological advances, the more people who pursue this forex trading business. Forex is a business that has a big advantage, with a small capital we can trade comfortably, so we will be able to trade with a maximum
  • #205
  • Feb 18, 2016 5:58am Feb 18, 2016 5:58am
The profit one can make trading forex depends on many things - on the size of their account, on their knowledge and experience as a trader, sometimes it even depends on luck.
  • #206
  • Feb 18, 2016 11:32am Feb 18, 2016 11:32am
Quoting dianajs
The profit one can make trading forex depends on many things - on the size of their account, on their knowledge and experience as a trader, sometimes it even depends on luck.
The profit also depends from the broker u choose.
You have to make your own luck
  • #207
  • Mar 11, 2016 2:35pm Mar 11, 2016 2:35pm
Quoting Mingary
{quote} Yes, it is. The many characters contributing in this web site are like a "world of forex human comedy" in the Balzac sense of the term. The usual suspects are all represented. They all strive toward 1 goal; to reach the mystical status of the "trader at home forex millionaire" Indeed mystical, due to the fact that "some people do make huge money" - as you state it - is always heard of, but never proven.
It is unlikely a day trade can become a millionaire. Day trading is a job, like any other professional jobs. Every day you make a few hundred or a few thousand if lucky. Beyond that, liquidity cap out so You will not make the same return.

Here is an article on this topic:

http://vantagepointtrading.com/archives/17125
  • #208
  • Mar 12, 2016 9:46pm Mar 12, 2016 9:46pm
For your first few years you need to focus on learning how to trade and then eventually you will make a profit start with a demo account or a very small live account be prepared to blow your account a few times for my first few years i only invested $200 at a time
  • #209
  • Mar 13, 2016 4:31am Mar 13, 2016 4:31am
Quoting jcdollar
I was wondering because i here people talking about how many pips they brought in 15, 50, 165. I know what a pip is and it comes down to their levarage i.e. 50:1, 200:1 and lot size they trade standarad lot (Lot 1) e.t.c Im trading with a demo account 50:1 leverage with standard lot 1 and I started with 3,000$ 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 it?
To directly, answer your question, I only target a profit equal to 5 to 15% of my current capital per day, with a limit of 1.5% to 5% risked.

I started a new account last week with 4000 USD (equivalent of my country's currency) and this last two days, I earned 840 USD in 2 days. I'm just gonna continue doing this with the proper amount of risk.

Forex earnings have no tax in my country, btw.
  • #210
  • Mar 14, 2016 2:36am Mar 14, 2016 2:36am
The profit really depends on individuals, I know many people become rich start from small funds, such as hundreds dollars, but meanwhile many people have lost all their money, so that's the story.
  • #211
  • Apr 3, 2016 9:54am Apr 3, 2016 9:54am
My 2 cents on this is that you have to take a couple of points into consideration

1. Risk management, how much are you actually risking from your capital to get such gains
2. Diversification. Never trade 1 strategy (do not put all your eggs in 1 basket)
3. Unrealistic numbers will always lead to unrealistic results. 40% per month is very unrealistic and cannot be taken as a basis for an investment. such numbers is definitely into the gambling area which i do not think this is your goal or motive here.

Realistically as an investor, I would advise as much as possible to look into bigger time frames. I am not discussing strategies here but Growth and Risk analysis. Better look into annual returns than monthly or weekly returns. maybe 40-75% annual is a good start on a realistic risk on your capital of equivalent of 15 - 25%.

Capital markets is a very big area and you need to diversify your investments between asset classes, strategies, traders, brokers, etc to eliminate risk, deviation on your portfolio and many variables that you need to look into.

As your case is in which you are looking to make 40% or even 20% / 15 % per month on a consistent basis, the simple answer is that this is not possible. You need to look into the risks that you are putting first on your capital and based on that you can adjust what kind of returns that you will be able to achieve on annual basis.
  • #212
  • Apr 16, 2016 2:13am Apr 16, 2016 2:13am
Ive made $680 so far this month but it varies ive only started to get it in the last couple of months and make a profit ive invested over $10000 in learning how to trade which is not much in the scheme of things my account at the moment is only just over $3000 but im not worried i dont need the money to live off so ill just grow my account at the moment
  • #213
  • Apr 17, 2016 8:04am Apr 17, 2016 8:04am
So far I have not earn money from Forex. Usually I earned $100 in one trade but lost $200 in the next tade.
  • #214
  • Apr 18, 2016 3:47am Apr 18, 2016 3:47am
For me,minimize risk is the most important thing,alough I only have a $423 live account,but I will keep each of my enter risk less than 2%.
  • #215
  • May 5, 2016 8:49pm May 5, 2016 8:49pm
of course, the key for a trader to survive in forex is to have good risk management. we must take into account how well the risk which we will take to get the maximum results when trading. if I prefer 3% for risk
  • #216
  • Jul 25, 2017 3:06pm Jul 25, 2017 3:06pm
I am a scalp and always have to depend on this short time trading approach, but it causes a great risk sometimes. Have anyone a great idea how can I minimize my risk when scalping?
  • #217
  • May 16, 2018 9:37am May 16, 2018 9:37am
Quoting dsmith2269
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...

what broker are you using I'm new to trading and have been running various demo accounts I'm looking for a decent broker to work with any recommendations?
  • #218
  • May 16, 2018 11:00am May 16, 2018 11:00am
Quoting swift131
{quote} what broker are you using I'm new to trading and have been running various demo accounts I'm looking for a decent broker to work with any recommendations?
a recommendation:
learn to pay attention to the details!!

the post you quoted to ask the guy was made in 2011....the guy have logged in last in 2013.02.....long has gone with his pretty easy 8% a day too!!

you, my friend, as an aspiring trader should make sure to pay attention to the details. else just push the button to buy will be an accidental sell, or a trade made on the wrong pair, etc....non is fun, but expensive lessons, best avoid them! by paying attention!

UK has plenty brokers, with good capital protection.
Pepperstone or AxiTrader both has a UK arm, and they decent brokers in my opinion. But as i said, there is plenty to choose from.
there is always, always another trade!!
  • #219
  • Edited 2:08pm May 16, 2018 1:45pm | Edited 2:08pm
It took me about three years of watching charts and losing almost all of my money until I found my groove. There is no replacement for chart time for a Retail Trader. Once you develop a trading style that fits you, then 1-10% per month is achievable.

This may be helpful, too:
https://www.dukascopy.com/fxcomm/fx-...90&language=en

Best wishes.
  • #220
  • May 17, 2018 8:56am May 17, 2018 8:56am
Quoting BenDunk
I am a scalp and always have to depend on this short time trading approach, but it causes a great risk sometimes. Have anyone a great idea how can I minimize my risk when scalping?
Try a different approach than scalping? Or you don't feel comfortable doing longer term positions?
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