I have some personal probables that i can overcome without money (I guess we all do)…
But my question is simple, i plan on studing the school of pipscology till I know every detail about FX, then Im gonna practice with a demo acc.
WHAT I WANNA KNOW IS, DO PEOPLE MAKE MONEY ON THIS? IF YES HOW MUCH A MONTH?
Plz im not afraid of puting in the hard work, i Just wanna know if theres a profit at the end of the road…
Plz, my life is a mess right now, if someone who knows what his talking about could respond to the question, it would me a lot man!
Starting with pipsology is a good start, there will be a lot that will be explained on each point as you study your way through it all. If there is anything that doesn’t make sense then the trick is to get onto the forums and “ask” any question you like. There are no silly questions. There is no shame or criticism in asking a question, ask as many as you need, there will many here who will provide answers and opinions to all your questions. Asking a question is a well understood mode of learning.
How much will you earn in a month is entirely up to you and how skillful you become. Many people give up on forex because of losses or frustration or many other reasons. To achieve success requires each trader much “hang in there” until he is satisfied with his/her learning. I have read in another forum about one bloke who claims to earn 4000 pips/month. Was he truthful? How can anyone know one way or the other? But the reality is many traders are successful or there would not be forex brokers out there to trade with. Some opinions say that 80% of would be traders will fail. So be diligent with your study and become one of the 20% who succeed.
All I can say. You can make money, but you have to understand yourself. Learn about projections and Stoplosses and Takeprofits, and NOT touching them when you set them. Find something easy to start with, and have rock solid rules. You should have 2 rules you refer to before making a trading assumption. Down the road, you can add more, but for starters, make yourself 2 solid rules, and follow them EVERY SINGLE TRADE.
How much time do you have to invest into this?
You can read and read and read, but you have to be activly making trades, on demo, with set goals.
Every newbie have huge expectations from forex market. But when they enter and trade for a while they understand the true working and results of trading. Then their expectations change with the passage of time.
You will get different replies from different trades at different stages of their trading career. But still you have to go through all the process to get exactly what you want from the market.
You are right every new trader expects much from forex , he want to become rich in a short time period. They should know their hopes will come true with their hard work and ability to trade in forex market. They will feel difference of their results as they are experienced in trading so their expectations will fulfill after some time.
