I was just wondering how much the average full-time forex trader makes. You can express this amount either as a percent return on their investment, or a dollar amount. I realize that there is likely swings in their return, but I just mean on average over the course of the year.
What kind of initial deposit is required to successfully trade full-time and make a decent living at it?
Finally, is there a large difference in return between day-traders and swing-traders?
The reason I ask is because I will be done college at the end of this month, and I would really prefer to trade forex full-time rather than get a regular office job if it is at all feasible. Iāve been trading forex in a demo account for over 2 months now and Iāve had relatively good results. I started with a $10,000 balance and some days I can be up $1,000 or moreā¦ of course I got a margin call and went broke once, but Iāve learned from my mistakes. I plan on spending at least the summer honing my forex skills, but I was hoping I could make this a viable alternative to the average mind-numbing desk job some day.
[B]Well according to my point of view your two month demo practice is nothing ā¦You need more experienceā¦ Take your time , Do any Job and meanwhile learn also in your free timeā¦ Forex is not so easy as you are thinkingā¦Itās a deadly dangerous businessā¦ Just two months practice will never truns you out to be a full time successfull forex traderā¦You May blow out your account while doing experiments and testing new & new stratigies and techniques on real as your experience is of just two monthāsā¦
& about your question that how much a fulltime forex trader may makeā¦Then answer is its experienceā¦ If a trader is with excellent experience not less than 2-Yearās than he can make good Pipāsā¦ Also no system in a world is perfectā¦Its just your Brainā¦
You have to find the key to success by your ownself & I Know its impossible to find the key to success in just 2-Months lolā¦
GoodLuck:)
PipHacker:D [/B]
Yeah, I should have mentioned that Iām going to university for 2 more years and I will spend that spare time experimenting, reading, and breathing forex to learn as much as I can about it.
Iām just curious if I stand any chance at being able to trade full-time in the future, or if I should just keep it as a hobby, or alternative investment to the stock market.
Well, seeing as thereās a statistics that says ā95% of all traders lose their moneyā i would assume the average trader is losing money. Can you make a lot of money very quickly? Yes, if you trade using some good sound principles. Get a good method, have good money management and your half way there.
If your serious about trading full time in the future, then donāt consider it a hobby because your probably less likely to make money that way.
I know 3 people who trade. Oneās been doing it for many many years and makes well over 10% a month. And the other two have been doing it for about 2 years one of them makes anywhere from -5% to +10%, in the green more often than not, and the other makes +10% to +100% a month. I demo and after two months Iām at +2 %, I might add that most of my losses are due to panic, greed, and over exitement:o . Iāve had some pretty good gains only to give the money back with a few horrible trades.
[B]This will be excellent for you If you spend more and more time while practicing on demoā¦ & Specially Two Yearās demo practice will be like a gold for youā¦
Im Optimistic About you that you will trun out to be an excellent forex trader after your hard practice of two yearāsā¦ [/B]
I disagree to a certain extent. He needs to spend more and more time doing the REAL thing. 2 more years of demo trading is a wast of your time. You did 2 months, thatās enough, now itās time to add money into your trading account of choice, start small and use real coin.
Take up a 1st and 2nd job, hopefully one that pays pretty well so you can afford to add siginifacant amounts of money into your account over time. Iām personally going to start trading seriously again at the 5,000 mark. At some point when you get good, you really want it to be worth your timeā¦but for now, start with a small 250 to 500$ account.
8/10, your going to blow it all, but atleast if you didnāt know at this point, you know now lol. Thatās the 2nd reason to start really small, so it wonāt hurt as much as losing 5k - 10k initiallly.
[B]Hahahaha Hey Forex Kid this is why Aggresive people like you blow out there accountā¦ Never consider experience as a waste of timeā¦itās a Jem & by doing different experimentās and testing new and new stratigies and systemās on real is a straight way to blow out your accountā¦ & by testing the same new & new stratigies & systemās on demo you can select a system which suitās you & after that one must have to become the habitual of getting pipās by practiciting it on demo with the development of his confidenceā¦ & I dont think so that just two month practice is enough for that. Im not saying that must do practice for 2-Years on demo but atleast 4/5 Monthās ā¦ & why blowing out even $250-$500 again & again on real??? Isnāt it batter to came on real with proper planning , practice & reliable forex system with all your own made rules & regulation:D
There is no comparison of !!!
Id say the average forex trader does not make money. I have been reading a lot of posts and just hiding in the shadows. But it seems that most people dont even try to learn more about the markets, or even read about āmental fortitudeā.
I think with proper money management and a good system that you know well, and the pair you are trading wellā¦ over time you can make more. Use a bit more leverage and try to make bigger gains on patterns you have seen before and know are usually going to go in your favor. Dont forget bigger losses though!
It is very possible that most wouldbe traders end up quitting out of frustration and generally not having the work handed to them on a silver platter, but itās important for you to rememberā¦that you arnāt them.
90% of all ppl who venture into real estate fail.
90% of all people who venture into the music business quit
90% of all people who had but a simple dream - gave up
Thatās the path they chooseā¦there were never any special circumstances that prevented/prevents anyone from being who they want be and a make a great living. Itās all you.
Basically, you can succeed only if you want to. I made that choice to suceed and you can to.
To the guy who responded to my previous statement - I donāt hold forum arguments with kids - there are better things to do with my time. All i can say to the poster is do your research and prepare yourself, as i tell all other newbies, to study VERY hardā¦pretty soon, itāll be 2nd nature to you.
The question is: How many pips can you make a day? If you can make just 15 pips a day, you can be rich beyond your wildest dreams.
ļæ½The most powerful force in the universe is compound interestļæ½ - Albert Einstein
Run this through your calculator: Start with $5000.00 capital, make 15 pips a day. Pay yourself a 40% salary of earnings. Reinvest 60% into your trading account. Risk 5% of your capital on each trade for the first year, 2% in the second and 1% in the third.
You will make over $200,000 salary in the first year. Your trading account will very quickly grow to over a million dollars.
I donāt know how you got $200,000 out of thisā¦ ESPECIALLY if you are taking a 40% cut. Iām all for playing the spreadsheet āwhat ifā game, but this one just doesnāt work out.
You canāt increase your lot size after every trade or anythingā¦ you have to increase it proportionally with your portfolio size or your risk will go way out of whack.
I did everything you described, except risking only 4% of your portfolio instead of 5%ā¦ I only worked it out to about $40,000 in the first yearā¦ less than that. I increased lot size in increments of 0.1 at a time
$5,000ā¦ start with 0.2 lot size, 15 pips per trade = $30 per trade.
You have to wait until you get to $7,000 before you can increase lot sizes to 0.3 ($7,000x0.04.) That takes 68 days. Then you start making $45 per trade (0.3 lot = $3 per pip). And so on.
Although I worked out 50 pips a day, and that would result in a 600% return in 100 daysā¦
Wow, I used to have this cool dream of becoming the unquestioned supreme leader of the world, everybody would be my unquestioned slaves and beautiful girls would all be mine, and Iād be delightfully evil
But somehow my dream never came true
So I recently decided to become a Forex Trader. Who knows if I am successfull and very rich maybe I can make my evil dream finally come true ā¦
ok, just for arguments sake, that we actually are up there in those numbers and actually placing those āhundredsā of mini lots in one positionā¦Iād just like to know if anyone knows if the brokers would have any problems with that? I mean would they have limits?
& Specially Two Yearās demo practice will be like a gold for youā¦
[/B]
[/B]
