what do you mean by offline sources?
Ok, being the mad max fan that i am⌠i have to say this hehe
Remember in Mad Max Thunderdome, that scene where pig killer says to Ironbar
"Remember⌠wherever you find yourself⌠THERE YOU ARE "
True⌠Exactly
the other option⌠build up to it
Martin can you PM for some reason it is not allowing me to message you>
ok, no problem, iâll PM you shortly
Yes possible. But not now. You have to give time and labour to attain that much skills. It will happen gradually. With 500$ invest, you have to increase your investment by making profit with that 500$. But if you are asking is it possible right now to make 200$ with 500$ deposit. That not possible for sure. For that you have to take too much risk which eventually wash your account out.
in order to me , any pips target or percentage can be earned from Fx market is obviously possible, if there is most powerful analyzing money management with great strategy . otherwise not at all.
There is a positive point in forex trading that you can make good pips in just one trade . Having investment of more than thousands with professional skill no issue one can make easily $200. New traders should not make this target for them as a beginner nor all can make this much profit same.
Agree completely, if beginners level fixed a target of course this approach can make them emotional and greedy , and if they canât complete their target , they try to take revenge by over trading , ultimately become a loser.
There is nothing 100% in Forex market place , thatâs why there is nobody who can earn his pips target with certainly . anything can happen in this volatile trading place at any times.
I know the volatile nature of this trading place , but we canât avoid the possibility to earn more money from here , just we have to make sure real trading discipline with powerful knowledge and experience. hope , you will understand
Very easy to say but practically itâs too much difficult to implement. Itâs a really. Have you earned already more money from here ?
Then whatâs your trading equity is?
Yes, it is possible. For me everything is possible in the forex market but with very low probability. If you have done the home work properly and have a strong confidence in your technique of trading then you can earn more than that on daily basis.
You can get there but slow and steady, you can get there really fast if you use very high lot sizes, but for a $500 account i know thats not a good idea. Imagine using 10lot size and getting just 30pips, nice right but then imagine loosing not nice at all, youâll probably quit forex, so like i said, slow and steady and learn and youâll be good
Slow and steady wins the race, yes it is. In Fx trading by means of using knowledge and experience any target can be achieved but first of all we have to pass a long time in here , because success in Forex completely depend on long term process.
In order to me, there is no fixed time success in Fx , if you can maintain real trading discipline within very short time there is a possibility to make sure maximal result.
@Manpower89 in addition to what others have said, in my view thereâs no sense in targeting a daily financial amount. The market has good days, bad days, I get that you can average out your earnings over time but still, I think that targeting a numeric goal is the wrong approach. I have always aimed to hit a percentage return over a period of time, say a quarter. Depending on your strategy, you can have a losing day or even week (some higher TF trading can be very low frequency) and it not be a disaster. A few years ago, USD/SGD was in a beautiful trend and I hit 19% of my account in one trade over a few weeks. Happy days! But during the same period I would also take a 1% profit on a separate Intraday trade and be just as happy. A winning trade, entered according to oneâs strategy, is great news. A losing trade, entered according to oneâs strategy, can still be good news as it is a learning point and builds up a bank of confidence (as long as the reasons for the loss are researched and understood). A winning or a losing trade placed for no good reason is all that would worry me. If a trader has a consistent approach and is right more often than they are wrong, then they will make a return by regularly taking money out of the market. So for me, consistency and a considered approach are the most important thing.
Your opening question is, for me, the wrong question, as account size and approach are vital components of any answer. Give me a $500 account and I guarantee you that I wonât make $200 a day as my trading approach doesnât give me that potential, that latitude, I am simply never that exposed to the market. But that doesnât mean that I donât know what I am doing - I just know what sort of trader I am. For what it is worth, in my view targeting $200 per day on anything like that sort of account size is folly. Personally, I never have more than 5% of my account exposed to the market at any one time, and I never risk more than 1% at a time on a single trade.
But the fact that you are here, asking these sorts of questions, is a good sign. Just do please heed the answers!! Ask lots of questions, get lots of answers, and donât assume that you can mirror your demo performance when trading live. Thereâs a lot more going on when you have some skin in the game!!
Hopefully none of that presents as patronising - it is intended purely to be helpful.
Good luck out there,
ST
Sorry mate , disagree. Because , I have never found at any guys who has made success from Fx trading within very short time . I have seen those traders tried to earn money very rapidly from here ultimately became loser . so, I donât believe at all success can be achieved within very short time.
Started trading with $4000 with a leverage of 500:1 and made 10k in a week. How about that?
I know it is highly risky but higher returns as well.