Daily Profit Margin

Beginner Questions
1

I am new to trading and I have been doing a lot of research while trading DEMO. Is a daily 10% target profit of the account balance achievable for a beginner?

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2

how much capital you plan on starting with?

3

Hey Victor.
Trust me. You should shoot for break even. As a beginner.
That would be a very good goal to have.
First, do that consistently on a demo account. For say, at least 6 months.
If you are successful, then the next step would be to do that same exact system on a live account. With a small balance.
If you are successful getting to break even, live, after another 6 months, then you will be on your way. Only then will you be able to start building.

I know, all newbies don’t want to hear that. Believe me, I was there. But I’m sorry, that’s some cold hearted facts. In any case, the quicker you realize that, the sooner you will get there.

We all go down that road, sooner or later.

Mike

4 Likes
4

Hi Mike, I appreciate your honesty. Based on my trading record on a demo account which I have been doing for the last two months, I am close to break even, but still in a loss. I take your advice, thanks.

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5

Hi justshell,

I am currently trading on a 100usd basis, but I plan to start with $1000 capital on live account when I am ready. What is your view?

6

If u live in EU dont bother its a scam m8 it will take you ages to make any money with such low capital and capped leverage. Not forgetting the manipulation unless your already rich anf can buy 100000 of cerrency with no leverage then you may have a better chance

7

Thanks A1lenTrader. I am based in South Africa, and the exchange rate is about R13 for every $, so it works to my advantage, but I do agree that $100 is small, my aiam is $1000.

8

Ok so u have $1000 at what leverage ?
1% of you balance is $10 this is how much you risk on 1 trade so you could get 1:400 leverage and use
A 0.10 lot size with a stop loss at $10. You make $1 per pip on say eur/usd take profit at $30 or move stop loss up after reaching $30 and let it run.
Or use 0.20 lots stoploss at $20 and take profit at $60.

Just an exanple