It is very true that everyone is looking to get income, but they do not think about the progress that they have made and what are the targets that they would like for themselves.
For this very reason i must say that if we are patient as a trader we can make good income from doing our trades 
1000$ could bring you more than you think). I suppose, that if you are testing demo and still think about 15$ out of 1000$, you just not ready enough, neither for the real account, nor for even 15$. Just think twice before starting the real one, unfortunately, you could lose everything and the grocery store at almost 40$ would become a dream, but never mind, itâs a joke. Just try to achieve more skills, find out as more as you can about this business, the more confident you are, the more you will get! Good luck!
that is a realistic goal. since you say you have been trading demo you should have a strategy you are comfortable with. hope you use money management as well cuz you will certainly loose some trades and need the MM to keep you out of loss.
It is quite possible.
With a proper proven and tested method, you can generate much more.
All you need is patience, discipline and risk management techniques.
Remember, keep it simple. Good luck to you my friend.
1k account with 1:1 leverage 15$ a day? NO.
1k account with 1:100 leverage 15$ a day why not?
I think people who say its not possible are forgetting leverage?
If youâre planning on compounding your gains, then yeah, it is worth the effort. Instead of focusing on a money target ($15), i would rather focus on a percentage (%1.5 a day). After some time youâll see your account grow considerably.
Allowing for 22 trading days per month, that means youâll be trying to make $330 per month from a $1,000 account.
Itâs not a completely accurate analogy, admittedly, but on a [I]pro rata[/I] basis thatâs about five times the percentage that top professional traders at places like Goldman Sachs have as their monthly targets. Theyâre highly educated people with all the appropriate qualifications, have done their â10,000 hoursâ experience, have a risk manager standing over them, and theyâre among the worldâs best traders.
So - no, I donât think youâre stupid at all; I think you probably just lack experience and understanding of equity curves, position-sizing, variance of results, and the standard statistical and probabilistic realities that it helps to appreciate more fully before trading on a live account.
But the experience gained from trading with real money [I]does[/I] have some advantages over demo account trading, for many people, and I donât think itâs necessarily an unreasonable thing to try to do at all, provided that the $1,000 is genuinely ârisk capitalâ, i.e. funds that you can afford to lose, if the experiment doesnât go altogether as planned. And good luck!
Having a smaller goal is good because itâs hard to know what you will earn. When you wake up in the morning you wonât know what to expect. The market might dry up sometimes and you might not even know why. That is why you canât expect to try and know how the market is going to work. No one is actually able to tell what is going to happen.
Hi guys,
Why do you say that $15 a day is not possible on $1000 account, assuming a 1:100 leverage ? Making 5 pips on EUR/USD everyday would give $ 50. Should be doable right ?
Thank you
Well yes, in theory. But then if we remember that a stop-loss would normally be at least 10 pips to avoid getting stopped out immediately after entering the trade (can you pick a top or bottom to within 5 pips?) then a stop-out costs you $100. If you get stopped out 3x in a row which, with this size targetting, is sometimes quite feasible when the market suddenly slips into a prolonged dozy wiggle in the middle of the day, you are suddenly down $300 and in bit of a panic and with margin calls if you want to continue with the same position size - and with a long way back to your original capital.
It is a common understanding that risk and reward should be in a sensible proportion and if you are targetting only 5 pips on a large position size then it is hard to say how to manage an appropriate downside risk.
Having said that, there is also a possibility with this if one is REALLY careful how to play it. If one does NOT try to get in at the start of each new move and waits until it develops into a clear strong move (i.e. strongly directional MA patterns, then there is a very high probability of gaining at least 5 pips if you can enter at a good level (e.g. a good pull-back) - but selecting an effective stop-loss is STILL critical since even in a strong trend it is impossible to pick the end of a pull-back to within 5 pips.
Using $1000 to get $15 a day is easy for me. Letâs imagine, In Liteforex, every day i can got $5 just using $90 of balance.
I was using EA and make it semi automate and control it. I never trade when there was big news.
I was just reading a book recently on trading that said one common mistake new traders do is that they put a cap on their gains but donât even take into consideration a cap on their losses.
So basically what this means is that you shouldnât have a goal of making a certain amount from trading, why limit yourself to $15 when there is a possibility to make more? What you should really put a limit on is how much youâll let yourself lose.
No one is talking caping your profits, especially in this thread, here some believe its not possible to get 15$a day with 1k accountâŚ
Logically speaking, 15 pips, or more, depending on your pair, allows you 15 pip stop loss for a 1-1 risk rewardâŚdoes not sound comforting to me. Your entry will need to be exact to carry you with the crowdâŚvery little room for error. Can it be done? I say no because there is no cushion to play with. Itâs like calling heads or tails-so risky to me.
Tim
This thread is a complete explanation as to the 90% failure rate of new traders.
$1,000 account making $15 per DAY !
That is 1.5% per day, every day, day after day continuously.
It is not going to happen. Might hit a lucky streak out of the gate so that the twin demons of false hope and delusion infect all that he speaks with, but the fact is the account will be blown and go to NIL.
Debate about it is just ridiculous.
Good talk â no problem in starting but donât ever remain small and stagnant. God bless.
problems make us more mature and develop. thank you
I love your threadâs title, lol. Its good to see that you have decided to start small, that is very good. Just ensure you donât remain at that point. Mediocrity is a crime of failed traders. Once youâve felt confident enough on a demo account, you can now go live. With proper risk management and patience, youâll make good profit
i agree on the title part. i got intrigued to see what actually, the thread was about. and you are right, risk management is very crucial in trading and so is patience.
A 4-year old question thatâs still being asked by so many new traders.