Thanks for the reasoned and measured response. Also a fair and reasonable expectation on those of us with less experience to make a few basic efforts to search first before asking. Perhaps framing the question to indicate the effort already made to locate an answer would be a little helpful as well…
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It may be like splitting hairs but “possible” and “probable” are not the.same.thing: it may be possible for any of us to.become.a world class.something (musician, doctor,.athlete,.etc.) but it will also be a low probability.
Trading is a game of probabilities: having a decent starting capital means increasing the probability of earning a decent return, for example. It is possible to scale up a small.sum but to do it in a short time means taking.massive risks… Given that nobody knows the future, we just need to stack the probabilities in our favour so that every trade we make is made with as many.odds in our favour as we.can put into that trade, e.g. tech analysis,.fundamental analysis, etc.
Therefore, trying to convert a small sum into a large one in a short time means reducing the probability of making our account survive losses, because our risk/exposure on any given trade will be too great.
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I mean I think so a lot of time and patience also you have to know what you’re doing
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Yes it is, but will it be easy, no.
Money management will be key
It is possible but for you, as a beginner, it will take some months but if you’re not overtrading and being good with trading as you were in the demo then you have a good chance.
Last week deposited 50Euro and turned into a 300Euro but I overleveraged with 0.10 lot on a 100Euro account. But even if you make $50 a week it’s better than ending your week in a loss and as long as you end the week with profits you will increase your account balance and be able to make more money.
You cant just rush things. You also cant put in a little and expect to get a lot out of it. To do that you need to be very knowledgeable in the field of forex trading. I know that some people will say that it is too much but if you are really serious about it then it is possible. I will still emphasize that start when you have a lot of knowledge and you know all the risks.
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I remember Babypips words vividly. Paraphrasing, “If you have $50 dollars go and get a job, if you have $250 save Extra $750” who else remembered this? Good old days. @SchoolOfPipsology
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