How much is ideal for startup on Fx for a return on at least $40-%60 daily income

Trading Discussion
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Please am new to FX but am looking at making steady daily income through FX what or How much is ideal for startup on Fx for a return at least $40-%60 daily income? will be very happy to hear from someone here .

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Are you saying you want a return of 60% a day?

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I think @cjobia meant $40-60 daily income because he’s asking the ideal capital to put in to gain that. But I could be wrong of course. :slight_smile:

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Assuming @CoinLady is right and you meant 40-60 dollars rather than 40-60%, then you would need about $250,000 as a base case.

Lets cut the difference and say $50/day is what you are targeting. Rather than 365 days, we will use 252 to get close to number of trading days. 50 * 252 = $12,600. You are looking to make $12,600/ year. Let’s say after years of studying and practicing you are able to begin turning profits annually of 5%, then you would need $12,600 / 0.05 = $252,000, to turn that amount of profit at a 5% annual return.

I think it’s fine to ask the question out of curiosity sake but I am always worried when someone says they are new and the first thing they are doing is figuring how much cash they can make. That is the recipe for disaster. Before you start dreaming of cash that you haven’t yet made, put your mental efforts into learning how to trade. Go through the babypips school, read some of the great threads here on babypips that discuss various trading strategies you can learn, open a demo and start trading the demo, when you are able to trade all year and be at break-even or better, you may be ready to go-live. Trade a small account live and slowly add capital as you are successful.

Don’t put the cart before the horse with trading. If you want to make a living doing this you have to go all the way back to square 1 and take it one step at a time. There is no such thing as corner cutting in this business.

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You are perfectly right, Wanted to know what cash input do I need for daily returns around $40-%60 (not percentage) for a start

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Thanks for the advice, I asked the question cause of the income possibilities most brokers are preaching about FX in my country wanted just to be sure of what to expect.

I just started the Babypips school and just completed preschool here am actually excited about learning more and will definitely hold your advice on a great stand.

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