Off course 5% can be achievable target but i have seen many new traders start trading without learning and losses all their money so it is good to learn before trading lives. Many expert traders usually making more than 40% profit, so start with consistency.
5% per month is not a big target as a newbie. You may trade via Forex Trade signal or Forex Trade Copier if you don't want to lose. Some site's like forexsignalx.com have fix deposit that may earn 7% per month without any risk, profit will credit to you every week.
I actually think 5% per month consistently per month is extremely difficult for a new trader - if not impossible.
5% is an understandable and realistic monthly target. The issue is to find a solid trading strategy which will enable these profits, and then to have to ability not to carry away and try to become reach over a night. 40% a month from 'expert traders', as eddieb stated, is a totally different story (and i am sure very very very amusing...).
I've been doing alot of reading and I see a lot of traders who say they can make 5% a month in the forex... Is this really possible? if so, who's doing it and can you please share some of the things we need to do as new traders to get there?
Good morning DCtrader,
Welcome to the beautiful world of forex... Going by your question, consistently making 5% monthly is achievable and some traders do make more than that annually after all the additions and subtraction of the good and bad months .
However, my advice to you would be not to rush yourself into attaining such fit for now because you may fizzle out along the way and ultimately throw in the towel. I would advice that for now you try and get a system that works for you and start become profitable , once you do, start giving yourself achievable targets like making 1% monthly and consistently... Once you achieve this, increase the bar until you reach 5%...as time goes by and you get more experience in the game, your %profits will step up bro.
The only thing standing between you and being a consistent trader is just enough screen time and loads of work