How much does the average forex trader make?
I was just wondering how much the average full-time forex trader makes. You can express this amount either as a percent return on their investment, or a dollar amount. I realize that there is likely swings in their return, but I just mean on average over the course of the year.
What kind of initial deposit is required to successfully trade full-time and make a decent living at it?
Finally, is there a large difference in return between day-traders and swing-traders?
The reason I ask is because I will be done college at the end of this month, and I would really prefer to trade forex full-time rather than get a regular office job if it is at all feasible. I've been trading forex in a demo account for over 2 months now and I've had relatively good results. I started with a $10,000 balance and some days I can be up $1,000 or more... of course I got a margin call and went broke once, but I've learned from my mistakes. I plan on spending at least the summer honing my forex skills, but I was hoping I could make this a viable alternative to the average mind-numbing desk job some day.
Thanks for the input!
i don't know if i'm average or not, I do about 10% a month give or take.
Yeah, I should have mentioned that I'm going to university for 2 more years and I will spend that spare time experimenting, reading, and breathing forex to learn as much as I can about it.
I'm just curious if I stand any chance at being able to trade full-time in the future, or if I should just keep it as a hobby, or alternative investment to the stock market.
Well, seeing as there's a statistics that says '95% of all traders lose their money' i would assume the average trader is losing money. Can you make a lot of money very quickly? Yes, if you trade using some good sound principles. Get a good method, have good money management and your half way there.
If your serious about trading full time in the future, then don't consider it a hobby because your probably less likely to make money that way.
I know 3 people who trade. One's been doing it for many many years and makes well over 10% a month. And the other two have been doing it for about 2 years one of them makes anywhere from -5% to +10%, in the green more often than not, and the other makes +10% to +100% a month. I demo and after two months I'm at +2 %, I might add that most of my losses are due to panic, greed, and over exitement . I've had some pretty good gains only to give the money back with a few horrible trades.
Keep trying. Find your weak areas and weed them out. Good Luck!
Originally Posted by randont
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.
Originally Posted by Piphacker
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.
Last edited by Piphacker; 04-14-2008 at 01:02 AM.
"Money can't buy you happiness but it does bring you a more pleasant form of misery."