I’m not holding myself back nor do I need advice. Thank you though.
I do not think one can profit constantly 5% in a month. It is possible for a trader to make 100% profit in a day. But it is too tough. I think the man who told you about it, may be he or she controls some or one PAMM account. He will trade with your and his capital and as a expert trader he has less probability to make loss in market for a month.
Yes it is achievable and you can definitely get the profit about 5% in a month. But to make this profit you need hard work,lot of practice ,knowledge and skills about Forex.
It is definitely possible to achieve 5% or more a month in the Forex market. If you’re new I just learning about Forex you should start making your first 5% in about three years.And that’s if you work hard and study hard.
Yep, It can be done, I do it all the time.
To achieve 5% consistently you simply need to know what you’re doing and control your emotions.
I must say 5% consistent profit s quite enough for any trader, hoping one day he will make some good percentage. It is better than loosing money in forex in attempts of getting high profit . I would be happy with 5% to 10% profit made from my investment.
5% from $1000 and 5% from $10000 are different things, but still I think it’s a good sum. Especially if you are new to trading. It’s nice that you see the real things and don’t hope to earn 300% at once as many novices do.
Better to keep calm, to cope with emotions and to make logical decisions. You’ll make it!
Depends on a lot of factors.
What is your win/loss%?
How much are you risking per trade?
What is your average profit?
what is your average loss?
What is the frequency of trades?
I have one account where
largest risk is 2% (stoploss)
win/loss raito is 78%
average win 0.8%
average loss 0.5%
average trades 25 per day.
I aim to make 3% a day.
This is quite good profit if one calculate it . No other business will give you so much profit . I will be remain contented on 5% per month profit ,. May be any good move give me high profit in a month but regular profit is good performance for a trader. I will be much happy with 10% profit
At first you need to develop your own trading strategy. And its more about controlling your risks and managing profits rather than making correct market predictions. As forex trading is highly leveraged and thus associated with high risk even with strong skills of market forecast and high win ratio you can blow up your account from one or two trades just because you set incorrect stop loss, keep profitable trades too long or too short, etc.
Its also important to control your psychological state. With a wrong mindset you are prone to commit many trading mistakes, so when starting to trade imagine that you lost all your money and try to feel that state. If you are ready to accept it you are ready to trading.
And find a good broker which doesn’t embarrass your trading.
Off course 5% can be achievable target but i have seen many new traders start trading without learning and losses all their money so it is good to learn before trading lives. Many expert traders usually making more than 40% profit, so start with consistency.
I actually think 5% per month consistently per month is extremely difficult for a new trader - if not impossible.
40% a month? Perhaps you could name some of these ‘many expert traders’ in order that I can begin worshipping them
5% is an understandable and realistic monthly target. The issue is to find a solid trading strategy which will enable these profits, and then to have to ability not to carry away and try to become reach over a night. 40% a month from ‘expert traders’, as eddieb stated, is a totally different story (and i am sure very very very amusing…).
Good morning DCtrader,
Welcome to the beautiful world of forex… Going by your question, consistently making 5% monthly is achievable and some traders do make more than that annually after all the additions and subtraction of the good and bad months .
However, my advice to you would be not to rush yourself into attaining such fit for now because you may fizzle out along the way and ultimately throw in the towel. I would advice that for now you try and get a system that works for you and start become profitable , once you do, start giving yourself achievable targets like making 1% monthly and consistently… Once you achieve this, increase the bar until you reach 5%…as time goes by and you get more experience in the game, your %profits will step up bro.
The only thing standing between you and being a consistent trader is just enough screen time and loads of work
I wish you all the best and God bless
I am also of the opinion, 5% are very realistic. There are only a few traders who can get more returns. Studies show that the majority of profitable traders can not achieve more return.