I’m sorry! I was just curious what kind of constant profits can be made on forex trading.
No apology needed at all! 
I think it’s a reasonable aim for forex traders to hope [B][U]eventually[/U][/B] to be able to achieve a steady-ish 5% monthly return on their account-capital after plenty of education [U]followed by[/U] productive, realistic practice (but at the same time one has to acknowledge that most people “trying” never get as far as making any steady-ish profits at all and are more likely to lose than win … but of course that’s including all the constant turnover of people who don’t ever have the “plenty of education” and [U]follow[/U] it with the “productive, realistic practice”!).
I’m stressing “followed by” just because I think it’s very common for people either to try to do both at the same time, or even try to [U]start[/U] with the “practice” and I very strongly suspect that for most people, most of the time, that makes it [I]non-realistic[/I] and [I]non-productive[/I].
And I’m stressing “steady-ish” because someone who can practice on a demo account and make an average of 2% profit steadily, each month, for a few months, is [B][U]far[/U][/B] more likely to be ready for a real account than someone who makes an average of 5% monthly profit with the figures from which the average is compiled swinging as high as +25% and as low as -30%, because that second person’s “results” are probably all random, really, and their next month might well be -60%!
If it helps/interests you at all, this post explains how I learned and includes another link to the five classic mistakes I think aspiring traders need to try to avoid.
And good luck, of course! 
And what does that say? Most people with or without a degree don’t live great lives. By no means am I attacking higher education, definitely not! But I think it’s not that important in certain fields and it’s so happens that trading is one of them imo. Of course if you can go to college for free and it won’t significantly hinder your ability to learn what you really want, then sure go ahead. In this case I would view it more as a secondary thing, something nice to have, but not absolutely necessary.
Also I think being very successful, as those famous people are, has to do more with mentality and luck than knowledge.
Yes, I don’t really disagree with this, I must say (and Malcolm Gladwell would probably more or less agree, too, having written a book about this phenomenon). It’s [I]very[/I] easy indeed to overlook the “luck factors” when try to you examine success retrospectively.
Education gives you more options when things don’t go as you planned, which, in my experience, is a frequent occurrence
Also, it’s one of the few things in life that can’t be taken away from you.
[B]lexys[/B] Can you estimate what is the probability for you to lose 50% of your money in an year?
Too small to calculate, fortunately (and I’d have stopped long before that, anyway.)
There’s a well-below-1% chance that I can lose 25% of my account over a series of 1,000 trades.
If anything like that ever happened (as it used to, of course, when I was playing on demo accounts and before I learned a bit more, including how to backtest), I’d have stopped what I was doing and be having a Big Strategic Rethink.
Being very risk-averse, I’m a bit allergic to significant drawdowns.
O’h boy your trading and attitude to trading is similar to mine , great to hear.
People ask ( what is your profit ?? ) , well everyone has different profit goals , but a seasoned trader’s profit monthly is usually measured by % of his account size. So the average % usually range from 5 % to 10 % long term.
If what you say is true, then it is impressive. That means the probability of an educated trader, to make money from this activity it is very similar to the one of a person with any other job. The only big problem remains the beginning capital.
[B]lexys[/B] what is the maximum percentage of your money you risk on a trade? What time frames are you watching the most?
The absolute maximum is 1% of what’s in my account, but that’s only for my very highest-probability entries; it’s more often 0.3% - 0.5%.
I sometimes add more to winning trades (“scaling in, in profit”) but that’s only after locking in some profit already (by adjusting the stop-loss), so however much I’ve added, my total risk exposure is never more than 1% in any individual trade, and rarely that much.
I don’t actually use time-bars (I use volume-bars instead, because I trade futures now, not spot forex), but they work out, during regular trading hours, at around 3 - 6 minutes per bar.
When I was trading spot forex from timed bars, I traded mostly from 5-minute and 10-minute bars, but I looked at higher time-frames too, to get a sense of overall direction and levels of support/resistance.
[B]lexys[/B] your risk percentage it is indeed very low. How is your min/max profit percentage (of your account) in a trade?
How is the volatility in futures (I have no idea, I never traded futures) compared to forex? Why did you moved on futures?
I can’t risk so little because I have a very small amount of money (compared with the minimum volume I can trade). For example 1 pip represents 0.1% of my balance (10 pips = 1% from my account) on EUR/USD pair.
What size lots are you using?
Sorry … I don’t quite get what you’re asking, there(?) … :8:
The correlation between the price movements of the nearest month’s corresponding future and the spot forex pair (for all the pairs that actually [I]have[/I] a corresponding future, that is) is about 99.99%, so it’s the same thing, really. It’s just that the futures have “volume” available, too, because they’re centrally traded.
I hear you, of course. We’ve all been there. I traded forex for years before switching to futures (only in December 2015, so not quite a year ago), and I originally started with a small account. (Which was actually borrowed money! :8: Not something I’d ever recommend to anyone else to do - but it was a loan from my father and I wasn’t going to get sued or bankrupted, if I’d defaulted.)
10 pips as 1% of your account does sound a [I]little[/I] scary - so a 20-pip stop-loss on EUR/USD would be 2% of your account. It sounds do-able, though. Just!
(You know that at places like Oanda, you can trade [I][U]really[/U][/I] small position sizes, if you want to?).
My minimum lot size I can trade represents 0.1% from my account / pip on EUR/USD pair.
I mean how much represent, in percentage of your account, the profit you get on a trade. For example: when you risk 0.3%, do you make 1% profit?
How many trades you lose? How many trades you win?
Ok, I see what you mean - sorry.
I trade 5 different set-ups (5 different types of trade) though 3 of them are similar.
With 2 of my 5 entry set-ups, I sometimes let some of the trade “run” (when I can) so it’s difficult to give R:R figures. In fact it’s impossible, for those trades.
For my [I]most common[/I] types of trade, the target is usually the same as the stop-loss (R:R = 1.0) but the win-rate is high.
There are a lot of people who post in forums, who regularly advise aspiring traders “never to trade with a reward-to-risk ratio less than 2:1” (and I’ve even seen some saying “3:1”!), and my advice is to ignore them completely, if you want to, because in my opinion they’re giving bad advice that makes things difficult.
[I][U]Lower[/U][/I] R:R methods can have some big advantages, especially for less experienced traders with small accounts, because their [I][U]higher[/U][/I] win-rates mean that long losing runs are very much less likely, and that appropriate position-sizing tends to be easier to work out. Both of these things are big advantages, when you’re starting out.
[B]lexys[/B] Thanks very much for your answers! They are helpful for me.
But what size is each- are you using full standard lots, mini lots, micro lots, or does your broker allow you to go even smaller?
So if you’re trading micro lots (1000) your broker may allow you to drop down to 100 unit size