I met someone making 50k a month forex trading. He and I are the same age, but he has more free time/freedom and so i am making it my goal to make income with Forex. I believe that I have what it takes to achieve that goal, but am ope to learning about almost anything. If you know of a good cash cow, let me know
In the real world, there are only two ways to make $50k a month FX trading.
- An experienced pro trader, having a capital of over $500,000.
- Gambling, and getting lucky.
I suggest your ‘someone’ is telling porkies…
FX is not an income source in the same sense as a full-time job, it’s high risk and highly speculative. As such, profits are not consecutive, month in and out, as you will suffer losses, as does every trader on this planet. Some of these losses are owing to high risk trades.
While this post seems negative, it’s to enlighten you that there is no short cut to success - and there’s no guarantee you’ll make money from trading FX. Treat FX seriously as like a new business venture and you have a better chance of obtaining the specialist skills needed to become profitable.
Best of luck.
I wonder if maybe the 50k isn’t in USD. Maybe Vietnamese dong or JPY?