I mean, are u gaining enough money monthly to spend on your daily life and also are u having savings to build the life you dream every night?
If I can, could you please tell me how much are u winning per month with your trading activity?
How much money is like the question, how long is a piece of string. Its as much as you need, so the answer is going to be very individual.
In fact, it is the strategy which dictates how much you will make, not your desired income or your monthly living overheads. Even a not very impressive strategy will provide significant gains if you leave the profits in the account and compound your trade size. depending on the initial investment, this can take years, so the trader needs another source of income in the meantime.
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You joined 6 hours ago. I’m just curious. What made that the first thing you ask?
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It is because I have reading discussions on this forum and I realized that there is a lot of people who have years on trading but they don’t still have the life they dream with this kind of business, so I did create an account to participate in this forum. Cheers from Colombia
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Whenever I have asked this question I have found that the answers are all over the place. I did some statistical analysis and found that each currency pair moves around 2% per week (roughly). So, if you hit every gain on a pair you could potentially make 2% per week.
That’s not how it works.
I’m making decent money but definitely have a long way to go to live my dream life. Aside from saving a little for a future family vacation the money I make gets spent on necessities and some fun things, but I don’t make enough to save right now.
There are probably three main reasons for this: mathematics, risk, ignorance:
Mathematics: If you want to earn even a modest salary, let’s say $2000 per month, and there are roughly 20 trading days in a month then you have to average a gain of $100 per day. And if your win rate is about 50-70% (which is not easy to achieve all the time), then you gross gains every day have to be around $150-200. But the majority of participants on this site probably are trading with a capital balance of $1000 or less. So this would mean they have to earn a net profit of up to 20% of their equity every day.
Risk: This is a high-risk business. Although the opportunities are huge for earning substantial incomes, there is an equally large risk of losing just as much. Any attempt to earn abnormally high returns on a small capital balance will inevitably hit a time when abnormally high losses are realised - and when this decreases the capital it further accentuates the risk when trying to gain the same abnormally high return.
Ignorance: There are no formal or progressive training or educational facilities for trading beyond what is randomly available on internet or variously packaged and marketed commercial courses with no defined or audited level of effectiveness. This means most new traders are ignorant of many core requirements and understanding concerning risk exposure, volatility, money management, strategies, discipline, etc. They learn the hard way through personal experience and that usually ends in failure.
In conclusion, I think it is clear that making a good income from trading alone requires a large capital balance to start with to provide the necessary flexibility and roll over drawdown periods as well as a lot of experience of various markets and their trading conditions. It also requires a thorough awareness of one’s own personality and psychological profile since almost all retail traders trade alone…
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Agreed to all three pointers buddy. Nice reply! 
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I think one can never be satisfied, something always remains missing even if you get wealthy and rich.
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I think you are absolutely right!.. and that can be both a positive and a negative thing! 
One could say that it is part of being a human to always seek for more, to go beyond one’s present boundaries. And in general that is a good thing.
Personally, I think it only remains positive as long as we have hope, conviction and the means to achieve our goals. But if these are extinguished, the positiveness soon turns to frustration, despair and bitterness. And bitterness eats a person from the inside out…
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Someone needs to have this auto-posted or something.
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Hi there @Duvan_Gomez. So, about 2.5 years agostarted with £25K account, lost about half of it in 3 weeks!! Then over the course of 6 months I crawled my way back to my original £25K. Over the next 12 months I made £25K on top of that, doubling my account. So far this year I made about another £25K but lost most of that profit misjudging the way oil and copper and EUR/CHF would go! I’m fighting my way out of it now and should hopefully have re-coup those profits in about 6m.
Trading is v much a side-line. I’ve not got to the stage that I could quit my day-job (nor would I want to as I like what I do). Chances are I won’t make millions in this trading game, but, like many others, I cling onto the dream cos I’ve proven to myself that it’s possible…
Realistically. It should pay for holidays and all that expensive stuff the wife and kids seem to need… That’s great though and if that’s all it amounts to I’ll still consider myself v lucky indeed!