How much do you make a month on average?

How much?..

Money or Pips? Demo or Live? Huge differences.

Money, Live.
In profits.

I am thinking of entering the forex market, but I am a little put off by all the negative reviews that they all get. stuff like stop hunting and taking the reverse trades seems a bit unethical considering they are accepting your money and making profits off the spread. can someone explain these ideas better? It’s hard enough to make money off the market without your brokerworking behind the scenes to screw you up. Is that a good long term market plan?

lonniew123,

You have asked an interesting question, but it doesn’t belong on this thread. Why don’t you start your own thread to explore this question? I, for one, will join in.


Babypips User,

Regarding your question, there are new traders who blow entire accounts in way less than a month. And there are professional traders who make millions. And there are countless traders in between these two extremes. How could it benefit your trading to know that one trader makes $10,000 per day, another trader makes $100 per day, and a third trader loses money most of the time?

What are you really asking? Are you asking how much YOU can expect to make trading forex? If so, then you need to furnish some information, so that the veterans on this Forum can offer you some good estimates:

  1. Using your trading style and strategy, out of 100 trades you place, how many are winners, and how many are losers?

  2. Looking just at your winners, what is your average profit? Looking just at your losers, what is your average loss?

  3. Are these results from demo trading, or live trading?

  4. How large a live trading account do you have to work with?

If you supply this information, there are many experienced traders here who can suggest realistic and attainable goals for you to aim for and reach.

Why don’t you try this approach?

Clint

It’s all relative, and frankly most would probably think, “none of your business that’s, how much I make.”

Your REAL question is probably: “can you make money in forex? Can you make a living or even good money?” Yes, yes you can. You can also lose all your money, end up quitting and or spend a lot of time/money on the learning curve.

Unless you are a savant or are lucky enough to have a REAL GOOD mentor and already have self discipline you are NOT going to jump in and make lots of money day one, probably not even week one, month one or year one. Trading is a skill you must learn and devote serious time to practice and application. You can’t learn it part time and hope to be good at it. You need lots of screen time and REAL practice with REAL MONEY. It’s kind of like being a fighter, there’s a lot you don’t learn until you’ve been in some serious fights and taken some lumps.

As far as how much can you make? Like I said it’s all relative. I get postive between 50-300 pips a week, some people get a couple K in pips. On my micro account I can have a per pip value of between $0.01 cent to $50.00 a pip. So, if you want to day dream just get out the calculator and multiply a per pip value by how many pips you think you can make on a winning trade.

Like I said, “how much do you make,” is relative and meaningless from trader to trader. You can’t can’t gauge your potential by what someone else is doing.

Best thing you can do is try it out:

  1. Try a bunch of demos with an amount you think your going to open live with. Start a trader journal for demo and live. Log everything. Why you entered, why you got out, if you followed your plan, ect…

  2. Demo until you THINK you know something and have an edge. (demo’s are absolutely FREE, so there is no reason not to download them and start playing right after reading this post) Demo until you’ve made every noob mistake several times. (pressing the wrong button, revenge trading, trading a lot size too big and getting a margin call, bad money management, chasing price and jumping in behind a move after it’s started. You can learn a lot simply by learning what NOT to do.)

  3. Go live with a micro account and trade small.

  4. This will give you taste of REAL TRADING.

  5. When you get some experience/ get frustrated/realize you have lot to learn/ or even find your getting the hang of it, keep practicing and honing everything you do. If something is working find out why and repeat it and see if it keeps working consistently. If you are doing poorly and trading away your account, go back to demo.

  6. Learn to trade is the market conditions: Trending, Ranging, consolodation. Each require different tactics. Or, just watch for one type of condition and only trade then.

I do not recommend that posters put down on this forum or any other forum how much money they make. (or lose)

This forum is in the [U]public domain and anyone can see it.[/U]

I am sure there are people watching who you would rather not have watching.

[B]Such people are terrorists, identity theives, computer hackers and other types you can think of.[/B]

So it is my personal submission that one should use wisdom and never post your gains or losses.

Except on a demo account - where you can say what you like.

[B]I believe that it is possible that you may be compromising you safety and/or security if you post large profits here and continue to do so.[/B]

If you have asked this question simply to know if its possible to make big $$$ trading and if anyones doing it the answer is yes.

On ff theres a member called Gregwilson who has a journal makes $30k-$50k on average a day!! (posts his statements)

Jim of James16 I’m sure makes a couple of million a year

Jacko makes a few million a year

One thing to keep in mind is they have all been trading for more than 10 years and none of them ever risks more than 2% a trade

I know lots of ppl who made much more shooting for high returns but they are nowhere today. Not even one survived more than two years.

Its possible but takes time and risk management

I think trading is like u starting a business .

take a look at businesses at high street , some of them short lived and some lonngggg livee but even those who lived longgg can die so it is you who will determine your $$

and choosing those manyyyyy trading style like choosing an outing for that special occasion where you get to meet the beautiful blue eyed lady with that hot guitar bodyyyy. Choose one that comfortable for you who knows what will happen that night :slight_smile:

cheerioo

Agree!!!

But wait, I’m a bit distracted here:

Yikes. That’s sad.

I think the real question that we each need to ask ourselves is “What do I need to learn to get to the next level?”.

At least that is what I ask myself weekly. Every saturday I sit down, review my trades and trading style and see what I am doing right and what I am doing wrong.

Live