Hey friend,
Welcome to Babypips and welcome to the world of Forex.
Ok so I started trading when I was 19 years old, thinking I would get rich quick with the help of some EA’s ( expert advisors ) as time went on, I realsie that the expert advisor everyone is selling that will MAKE YOU A MILLIONAIRE is complete and total lies. BUT forex trading for YOURSELF and being a REAL TRADER is very well worth it. I started to learn to trade for myself at the age of 20, and now at the age of almost 23, I think forex is a great career to have. How much you earn, 100% depends on you and you alone. You can make 40% a month return, sure, you can make 10% return a month. It 100% depends on how you set your money management and risk appetite. As well you must be profitable and make pips if you want to make money of course. But you have to find a system that works for you in order to do that. here at babypip we have tons of system to help you with that, if you’re willing to put in the hard work and go through the school here at babypips, that school will give you a great head start and a good understanding of what forex is and how to trade the market. School of Pipsology | Learn Forex Trading that is a link to the school here
As far as systems go, check out the free system section here at babypips, you can get started there, or after completing the school, you could try and make a system of your own.
http://forums.babypips.com/trade-journals/75424-jl-method-honor-forexphantom-39.html?posted=1#post733684
that is the link to a system me and fellow babypips member by the name of Snipes, we are working on that system and it is simple and working well thus far.
As far as income potential, you could risk 2% of your account per a trade, and make 4% return per a trade risking that 2%, say you make 1 trade a week and make that 4% at the end of the month that’s 16%+, say you manage to score 4% win and a then make 2%, that’s 6%, do that 4 weeks in a row for the month, 24% etc… you could risk 5% and make that into 40% a month, but 5% risk is a very large risk for any one trade. So your income potential is up to you. But you MUST MUST MUST remember that this is a market, and in FOREX there will ALWAYS be losses, you will lose at times, even have a week were you lose money. IT WILL HAPPEN, but if you’re consistent and making profits like listed above, that 1 losing week every now and again is nothing, you blow it off your shoulder and move on, or else you will let it consume you and will have much troubler here in the forex world. When you first start off, DEMO account all day, its fake money on the real market, some DEMO accounts are set back to make it easier to win, but it will give you a real feel of trading WITHOUT RISKING ANY MONEY AT ALL. DEMO accounts are 100% free and easy to set up on most any forex broker.
I hope this helps, keep at it and don’t give up, demo first, and complete the school here, get a real feel for forex before you go live, then after id say at least 3 months of SUCCESFUL DEMO trading, then go live.
Happy to help
Happy trading
Jason :38:
