no ,you will not make any money from it at first ,at the middle of it unless you figure out what to do,normally that would take years before you knew it.
oh ,theres one exception ,you will make money at first ,that’s when you quit your job and put in your life saving ,and lose it all, and swear that forex is a scam ,just like the others.
Ah, I see. Well, that’s a bit disappointing, but I appreciate you letting me know. Nevertheless, I’m determined to learn everything I can so I can trade forex profitably in the future.
You can, it’s not likely that you will though. The main reason is that almost al people think they can make a lot of money quickly, and you can only do that with luck.
If you’re thinking of making 5-10% a month, then you might have a chance. But greed makes you use all your leverage lose the lot in one trade.
It’s not a get rich quick scheme, but with discipline it can be a get rich in 5+ years scheme
As a newbie, I’m not expecting to make a lot of money at first, but losing money can be really frustrating. I know I need to work on my attitude and emotions as I learn how to trade. Maybe I’ll start with around $500.
Focus on get knowledge, find trading method which suits for you, which fits for your “normal day schedule”, which you feel comfortable when you trade, use demo account to discover it. When you will be profitable on demo account, then open live account. It is too early to talk about return and live account for you. Regards Greg
It’s not just about gaining 10% - even gaining 100% is possible. The tough part is whether you can replicate the success of gaining 10% without risking 10% at any point in time. Let’s say that to gain 10%, you often have to experience a drawdown of 50% before the market turns in your favor and you book a 10% profit. This becomes a high-risk, low-return issue. The question is whether it is worthwhile.
Now, when it comes to a 100% return, how much do you need to risk in order to achieve that level of return? Is it 10%, 50%, or 90%? And even if you do achieve that success, would you be able to replicate it time and time again? These are important considerations to keep in mind when developing a trading strategy.
Yes due to random streak or pure luck you can make some money even decent amount but in the long-run your performance will converge to the rate of return your genuine trading edge implies. This is how things work in statistics.