No, you are going about it the wrong way: you are thinking of this like getting paid for work at the end of the month, which would mean a fixed income that you could rely on.
Unfortunately you have to lose money before the message that you are not ready to be profitable will sink in, otherwise you may be tempted to just continue to ignore the comments of all those who have been through the pain and disillusion in the first few years of their trading, and continue believing that you are different from everyone else.
So the best way is to go out there,make all the mistakes that most of us here already made, and find out if you can stick it through the pain, frustration, lost capital, self-doubt, loneliness, and low self-esteem that novice/wannabe traders experience.
That is a profit of 50% and is ridiculously optimistic.
You should by now already understand how much you can earn by looking at your average return (gain or loss) per trade and your average win rate. Establish these numbers through demo trading using a strict set of rules. However, with such a small starting capital, spread and costs will be proportionately larger and these are often not fully reflected in demo account trading, so you might need to make manual adjustments.
A profitable demo strategy might be profitable with a live account (but this is not guaranteed - live accounts run differently to demo accounts and traders find losing real money much harder than losing demo money). A losing demo strategy can be absolutely 100% guaranteed to lose when traded with real $ in a live account.
Thatās definitely doable, but with proper risk management, use of lots, and skill. I hate when people make it seem like you have to start with a ton of money in order to profit in forex. This isnāt stocks lol
Half pip Take Profit in one position 10Lot EURUSD is approx. 45 EUR. With some experience and hours testing around i dare to say that its no problem for me to catch 5 times during the main session half-pip profit.
5 multiplied 45 EUR is 225 EUR between 0800hrs and 1700hrs. But thats not the end of the story-if it works with 1 or 5 or 10 lot it works as well with 1000 Lot- and than the real money comes in !
Akshel is very posible, even in a good week , and maybe in a good single trade , obviously you really know what are you doing and when , everything is possible bro , we have to open our mind , not only make fantastic numbers in a excel spreadsheet, and say oh ! You only can make x % per day because God gonna punish you because you you have 1000 dlls account !!!
Nop , nothing is write until you try and get doneā¦ and only the market have the last word ā¦
Cheers
I started the account this week with a little over $1,200 and only traded uchf this morning. I had a sell bias, so I placed about 4 sell stops below the support, 0.5 lots each
honestly, there is no true secret. Itās 10% skill set. I used to lose big time on demo because of greed, fomo, and other psych stuff going on in my head. Also, I only look at high quality set ups where the direction is just clear as day. I keep my charts clean and donāt complicate it. One thing I hate is when people on here try to make it seem impossible to profit or discourages new traders from even going forward. My mentor is a prime example that this is possible, along with many other traders I follow
Well done and I hope it continues, but if youāve only opened the account this week, and today is Monday, I think you may want to prove your theory over a longer time before you advise others to follow suit.
I and others are not trying to discourage others from trading, quite the opposite, we just want them to start out with reasonable expectations about how difficult it is to make consistent and long term profits.
Itās no use making big money today only to lose it tomorrow.
Good for you , like I said before everything is possible , so tomorrow donāt cry if you lose the same amount ,donāt blame nobody, if you like try high risk be humble to accept the consequences if something goes wrong , today was a good day , tomorrow who knows? ā¦
!