Hi, am a newbie and am wondering how much percentage returns per month is possible/achievable/attainable (lol) when mixed with a good trading system, money management and psychology. Is 10% returns possible or too much to ask for? plus i would love it if you guys tell me how much % return do you make per month and how consistence?
I too would like to know this and from personal experience how long did it take to start having consistant profits?
I started two years ago, and I’m now in the ‘getting break-even most of the time’ phase.
Ok, I have a full-time job, and am learning and trading on the evenings and week-ends only. But I think it wouldn’t be different if I make trading my full-time profession (danger of overtrading!)
The most important thing is to get the right mind-set. And it seems there is no easy and quicky way to gain this, only year-long experience which has to build slowly. Don’t underestimate this time, as in any profession you need your time of apprenticeship and hard learning. You won’t want to become a cardiac surgeon after only two months of training, don’t you?
You can look in this forum for an entry ‘The five steps of trading’, this is an extremely interesting essay on this topic, including some time estimates for the different steps on the way to become a master trader.
Here is the link: 301 Moved Permanently
As I’ve heard from some successful traders, plan for several years until getting profitable. The trick is a) not to lose all your money in the learning phase and b) not to give up frustrated in the learning phase.
Wao, thank you for your advice. I’ll definitely try demo trading and all that you’ve advised me.