How much does the average forex trader make?

[Yarcofin]

Originally Posted by Sweet Pip

ok, just for arguments sake, that we actually are up there in those numbers and actually placing those "hundreds" of mini lots in one position...I'd just like to know if anyone knows if the brokers would have any problems with that? I mean would they have limits?

Obviously every broker is going to be different, but from experience I know that Interbank FX (IBFX) allows up to 50 lot trades per click in their mini accounts.

So after you are placing more than 500 mini lots at a time, you will need to do 2 orders instead of 1.... not a huge deal. You don't have to worry about that until you're placing $50,000 trades... and at that point you are probably going to move up to a standard account anyway right?

[mytwopips]

Originally Posted by Sweet Pip

ok, just for arguments sake, that we actually are up there in those numbers and actually placing those "hundreds" of mini lots in one position...I'd just like to know if anyone knows if the brokers would have any problems with that? I mean would they have limits?

Good question? Maybe switch to ECN. I know most bucket shops hedge their posistions by going to the market, but leave many posistions from certain trades un-hedged in speculation that those trades will be losers.

So If you are trading 50 full lots a trade and the broker's in house liquidity is 50 million, you have just used up 10% of their inventory in one trade. They would be smart to take that one to the market. Do things get more difficult at that level logistics wise.

Indeed a very good problem to have if you can trade this much. I guess I will wory about it when I get there.

[Yarcofin]

Originally Posted by mytwopips

Indeed a very good problem to have if you can trade this much. I guess I will wory about it when I get there.

Indeed. As soon as I hit the $1,000,000 mark, I'm withdrawing and starting back at $10k.

Hey, a guy can be optimistic :P

[GBLilleyUSMC]

Originally Posted by Sweet Pip

ok, just for arguments sake, that we actually are up there in those numbers and actually placing those "hundreds" of mini lots in one position...I'd just like to know if anyone knows if the brokers would have any problems with that? I mean would they have limits?

I attend daily live trading sessions with forex coaches; however, I don't want to step on baby pips' toes by posting the name of the service I use here, but in that service there are many traders there who trade full time and are enormously profitable and they use mini lots.

I use GFT as a broker, and they do not have a problem with it. I set up my account so that I could trade mini-lots, but everything else is set up like a standard account.

Trading mini-lots gives you much more flexibility with your risk management than trading standard lots does. You cannot trade 1.5 standard lots, but you can trade 15 mini lots.

[Xaron]

The number of pips is not relevant. Even with one pip per day you will become very rich.

Personally I make about 10-20% per month, but it took years to get there...

Regards - Xaron

[uptick]

Originally Posted by Xaron

The number of pips is not relevant. Even with one pip per day you will become very rich.

Personally I make about 10-20% per month, but it took years to get there...

Regards - Xaron

are you still in the fxstreet contest? what happened?

[forexdiva]

Originally Posted by Josef Benjamin

I disagree to a certain extent. He needs to spend more and more time doing the REAL thing. 2 more years of demo trading is a wast of your time. You did 2 months, that's enough, now it's time to add money into your trading account of choice, start small and use real coin.

Take up a 1st and 2nd job, hopefully one that pays pretty well so you can afford to add siginifacant amounts of money into your account over time. I'm personally going to start trading seriously again at the 5,000 mark. At some point when you get good, you really want it to be worth your time...but for now, start with a small 250 to 500$ account.

8/10, your going to blow it all, but atleast if you didn't know at this point, you know now lol. That's the 2nd reason to start really small, so it won't hurt as much as losing 5k - 10k initiallly.

I kind of agree with that assessment. I didn't get a good intuitive feel for financial management until I stopped demo trading and started trading a micro account with $250 in it.

It wasn't much, but I needed to get a good feel for financial management, plus it helped me to concentrate on pips and trading strategy first before approaching returns on investment, because I wasn't wiping out my balance every time I had a failed trade. Good financial management can atone for a lot of trading sins.

Just my 2 cents...

[Trade It]

I also agree with opening a small micro account and start trading with REAL money. And then ONLY RISK UP TO, I REPEAT UP TO 2% PER TRADE. Demo trading is not trading with real money and therfore real emotions are not going to get in your way. Trading with real money is a complete different ball game.

I wouldn't really worry about finding a trading system based on entrys and exits. Find one that really digs into money management. That is your bread and butter, trust me. Entrys and exits don't even account for 20% of a GOOD trading system.

One can make a decent living on a small investment. I opened my first account with $300.00 usd. I still trade that account to this day. Making anywhere from 8% up to 45% a month return.

People wander why 95% of traders fail. 95% of them are looking for systems that tell you when to get in or when to get out, putting money management on the back burner...hmmm...

Best of luck to you in your journey.
Trade well.

[moon_dance_kid]

Originally Posted by Trade It

I also agree with opening a small micro account and start trading with REAL money. And then ONLY RISK UP TO, I REPEAT UP TO 2% PER TRADE. Demo trading is not trading with real money and therfore real emotions are not going to get in your way. Trading with real money is a complete different ball game.

I wouldn't really worry about finding a trading system based on entrys and exits. Find one that really digs into money management. That is your bread and butter, trust me. Entrys and exits don't even account for 20% of a GOOD trading system.

One can make a decent living on a small investment. I opened my first account with $300.00 usd. I still trade that account to this day. Making anywhere from 8% up to 45% a month return.

People wander why 95% of traders fail. 95% of them are looking for systems that tell you when to get in or when to get out, putting money management on the back burner...hmmm...

Best of luck to you in your journey.
Trade well.

Is it really possible to make consistently over 5% per month trading forex ..?
Do you trade the news..?
Support - resistence, - trendlines,
Scalp ..?
What SW do you use ..?

[Marcuse]

It will depend on too many variables, like the strategies, the national economies of the pair traded and how they compare to each other, will depend on happenings that result being fundamental etc.. even luck…
I have seen many techniques to keep an average profit, it could work for sometime but if was just matter of that there won´t be losers in the forex trade, but if we are realistic the loser are considerably more than the ones who make profit