I have never risk a lot for my trading so never earn such big amount in a day. It is not my style to earn more and more and risk more and more.
1 Like
having a set amount is not achievable. what you want to do is say how can i make 5 pips a day or something like that. you can achieve a money target but you need to change your mind set first
Go on you tube by books and learn the skill. Try naked trader first and see what you have got in front of you buddy. Who are you trading with and what platform you using.?
Not bad. Try make a 400 per day, than 200 was to you easier
1 Like
$200 a day sounds good. But it isnât if you continually withdraw $1000 a week to pay your bills and food etc. That way youâll always have just enough money, and your account will be the same size when you die as when you opened it.
The point of trading is to make money for yourself, not just make enough money to pass on to the electricity company and the supermarket.
A few steps in order not to lose money on Forex (now more important for you than making money):
- Do not trust a broker (a good broker today, this does not mean a good broker tomorrow).
- Do not use indicators (this cannot be the basis for the trading system)
- Do not use old information in its pure form (the market changes daily; what works today may not work tomorrow).
- Do not buy wonderful trading robots (even the best robot must be manually configured. The best robots are not available for sale).
- Do not buy training (99% of the information does not work in the long run. It may be interesting, but no more).
- Do not use your familyâs last money or money (your hobbies and expenses should not concern your loved ones).
A few steps to earn $ 200 + ⌠per day.
- Use a bare schedule. All you need is a price.
- Trading during the day, all transactions at the end of the day should be closed. Your terminal will be clean, your sleep will be sound.
- Overloading prices daily. The new day will be different from the previous one, and thatâs good.
- Where should I trade? You need to open the H1 chart and mark all the peaks and troughs on the chart. Price always gives a reaction in these areas (continued movement or reverse movement)
- How to make a deal? When the price reaches your zone, you need to open a smaller timeframe, for example, m1 or m5, and find a sample to buy or sell. Small timeframes to make SL small.
- What is a template? These are clusters of candles on the chart. What does the template look like and how to find it? You should carefully analyze the areas where any price movement begins, on the time frame m1, m5 ⌠Thus, you will find your pattern in this area by statistics.
- When you receive your pattern, you need to manually analyze the currency chart for several months.
- All you need is the final statistics, which will tell you about the perspective of your pattern. Use 1 currency pair.
Look at my picture.
Good day, I hope that I have found you well,
Your question is straightforward and the answer is a simple yes. It is very possible to make US$200 a day. I personally think that the best way to set up your trading goals is not by having a fixed monetary value like US$200. I personally think itâs a lot wiser, easier and less stressful to only accept what the markets give you.
In the past I gave myself a fixed monetary value, if I did not reach my target then I would clearly not be happy even though I would have made a profit. Lolâ:sweat_smile:
I only realized that I was injuring myself by giving myself a fixed target amount. It took me a while to realize that any profit made is worth my joy. So i simply stopped giving myself a fixed value. Clearly this helped to improve my trading experience because I would control my profits by locking them in with a stop loss. Once I started doing this I learnt to be content with what the markets gave me. I was also surprised that while following this simple strategy of locking in profits and leaving winning trades to go on with the trend ~ I only became a better trader, a stress free and a content trader. In short Iâm saying that itâs not about reaching a fixed monetary value but actually about consistent trading wins, you will be surprised that once you leave your wining trades to continue in the direction of the markets will only help you beat fixed income methods.
In the past I blew several accounts because I wanted to make a fixed income, I almost gave up on trading until I learnt to be content with the little that the markets were willing to give me. Following this discipline only helped me to recover losses and make more than a fixed income. I know most are taught to have a target. Lol my target is to just make profits and I only exit the markets when the markets start to head in the opposite direction. I control the profits I make by not immediately closing my position because I reached a fixed monetary value but by locking in profits until the markets head into an opposite direction or until my take profit level is hit. Then again in times if a see that I am closer to my take profit region and the markets are still continuing to head in my favored direction then I remove my take profit level and continue to lock in my profits with my stop loss. I never mover out of a winning trade unless I see the markets are head in the opposite direction. My take profit region only serves to help me when Iâm away from the markets otherwise in most cases I remove my take profit and continue locking in profits. This way it works well for me.
The logic here is why should anyone run away from a winning trade just because they reached a fixed monetary target? If you are in profit region lock in your profits and see what the markets will give you in return. You may just be shocked that ~ wowđ˛ you just turned yourself into an expert trader, the results will be really heart warming.
~ never have a fixed monetary value as a target
~ never run away from winning trades, rather lock in profits
~ most of all be content with what the markets give you.
~ YES is the answer to your question, itâs very possible to make US$200 on a daily basis and itâs even possible to make a lot more than that. Your discipline on the markets will only make you a better trader and a much more profitable trader. Thank you, I hope I have been of assistance.
2 Likes
Its not true. I can double my trading account in a day. Forex is different from lottery. Lottery is luck, but forex is the knowledge and a little bit of luck.
@Manpower89 has not posted since March. I guess he found he could make $200 per day. Or he found he couldnât. But heâs not around so we canât ask him.
What are PAAM services? Thank you
Setting such ambitious profit goals would also require substantial deposit. With some safe leverage like 1:50 youâd need to put up at least $15-20K to start trading.
Create a demo account first and see which trading strategy works for you. Also define your risk tolerance and backtest everything.
lets hope he found a way
Thatâs not a very impossible target. Just have a good plan to achieve that goal and keep yourself as much as disciplined you can.
There is no limit to how much profits you can make in the forex market. There are so many variables that determine your profits like your investments and strategies. Before you try out different things in the market, you wonât get to know what you can do. Keep practising and keep improving.
ok but i m achived many time in short times i m going to lazy for late or more think about profit but then i lose but i have little bit idea how earn short time
Even if you have 8 grand aside for trading, why would you prefer wasting it? Iâd still say start with little and then work your way up after a period of time once youâre confident of your strategies. Bottom line, setting up a target like this would make you trade wrong.
Spreads do matter a lot in Forex and you can find a broker that is providing some tighter ones. $200 is a good amount to begin with and youâll just be fineâŚ
Yeah you can do it with an account over $10k.
We will need to use a trading account with 20,000 USD of capital.