Hello All, I am posting this in an attempt to help out some beginners that may be in the same mindset i was in when i first started out. When i was just a new born forex trader i had all the wrong information. I envisioned huge sums of money almost coming out of thin air and flying into my bank account. My expectations and goals were extremely too big and they cost me money i didnt have to loose. One big expectation i was wrong about is the expected profit target i thought i could achieve. I thought i could take a few thousand dollars and turn it into hundreds of thousands in a year. This is NOT an accurate expectation. Investment firms tend to average 3-5% per month non compounded. After talking with Investment firms that deal with the forex market i was told that if i could have a monthly average of 5-10% per month over the course of a year i would be extremely desirable to any firm in the world. It was not until talking with these firms that i brought my goals down to an appropriate level. To make it even simpler, if you can double your money in a year (compounded or not) you are doing extremely well. I still consider myself a beginner, i have only been trading 2 years, but i now average around 3-4% per month with my average loss being .75% i felt it was time to post a thread and hope that someone reads it and is able to grasp the reality of forex quicker than i did. It is not a get rich quick scheme it is a career that requires a significant investment of your time and energy. There are more little tips and tricks i have learned along the way including some very helpful books i could suggest. if anyone is interested just message me and i can try to help you out. i have no hidden reason for trying to help, i am not looking for anything. Just trying to spread the knowledge and help out those that were on the same path as me. best of luck to you all.
U are right.Every newbie trader in this market has to learn it some time.
2 years, and your still a newbie? Common man,
modesty never hurt anyone. you should try it.
And modesty wont make you Wealthy,
“Modesty is the lowest of the virtues, and is
a confession of the deficiency it indicates.”
William Hazlitt, English writer (1778-1830)
“Although modesty is natural to man, it is not natural to children.” Jean-Jacquues Rousseau
grow up kid. best of luck to you