If we can have 100 000$ with 1000$ of your own money, that mean we can have 1/2 (500 000$) of a million with 5000$ right?
Ok, so, on the market, for the EUR/USD currency using 5000$ of our own money mean that every single pips have a 50$ value.
If I use a 20 000$ account a MY OWN real money, and I only use 5000$ to trade (25%) of my account, that mean that I have to get only 4 pips by day to make 100$. So, itās possible to live on itā¦ And 4 pips is really easy to getā¦
In one full day, if you get 20 pips, you just get yourseft 900$ā¦ (20*50=1000-100 of spread).
Is there anyone here making that king of money on a regular basis? I mean, between 500 or 1000$ every single day? Seriously?
If you are one of those, how the hell are you? I mean, what are you doing with this king of money, what your life look like? Whats your days look like???
It seem like a dream to meā¦ I wonder, all of you, be honest, please, what kind of money do you do with forex? How much money do you put on the market usualy? Do you live with it? Do you go to school or do you work in the same time?..
Iām not one of those people, but I would like to point out that 4 pips are easy to get in both directions (the one you want but the one you do not want, too).
And the most important thingā¦ if you start with a $20.000 account and you risk $5000 per trade, it only takes 4 bad trades to wipe out the entire account.
Have you tried your idea in a demo account? Granted, the feeling of trading with real money is another thing, but it could at least give you a taste of how profits and losses are easy to get.
Yes, I did try to trade with a demo account for the pass few month. Im not doing so bad, BUT the fact that itās not real money result by a lack of interest. Itās not easy to trade all day long with fake money. I do realise too that trading with real money is something elseā¦A red (-2600) is hard to handleā¦ Still, I have to try. But, you, all of you, what kind of money are you doing on your average day?
dont focus on how much you ācanā earn in a day, think about how much you can LOSE in a day.
25% account risk per trade is pretty scarey - thats basically a 100 pip move against you and that NEVER happens!! - WRONG some currencies you can be down a 100 PIPs before you know what hit you.
If your not willing to put the effort in to really learn a trading technique and practise sound money management, you may as well just burn the $20k, cause it will be gone up in smokeā¦ IN NO TIME!
If you think this gives you any indication of how much money YOU could make, it does not. Direct that question back at yourself, because thatās the only valuable answer you will find.
Some people earn a living trading Forex, just like any other market. They are professionals and have a lot of experience doing this.
Lets just say that trading forex can earn you enough of an income so that you are constantly looking for writeoffs and you dont have to be very greedy ā in simpler words, you can build a beanstalk and climb it to the sky !
NOW THROW AWAY YOUR DEMO because if you can suffer that much of a drawdown (negative $2300), youre using a system that depends on great amounts of equity and ill bet half my account you wont open your REAL account with that much.
OPEN AN ACCOUNT WITH ONLY THE AMOUNT YOU WILL BE ABLE TO PUT INTO A REAL ACCOUNT ---- that way, you trade under REAL conditions, and not the safety of a millionaires account !
once you hit 8 out of 10 trades honestly, then takes your real money and have at it ā mix everything together, bake for 2 years and VOILA ---- the world becomes your oyster with yachts, multiple homes, trophy wives or boy toys, and one VERY GOOD accountant, almost at your side forever.
