Monthly Forex Income Calculator

Trading Discussion
1

Here is an Excel Spreadsheet I found on the internet that I thought I would share with all the members here on Babypips, both newbies and veterans.

How to use the calculator:

The calculator is easy to use. Just input your initial deposit and your expected monthly return precentage in the top left boxes. It will then show you the growth of your account month by month along with monthly income based on the numbers you input.

What does this calculator prove?

It proves that even with a low initial capital such as 5000$ and a monthly return percentage of 10% in the long run, provided you have the discipline and patience, your gains will be great. This should make you understand that you don’t need to double your account each month to make good income from Forex. As stated by many traders: “Forex is not a get rich fast solution, it’s actually a get rich slowly system”.
Having understood this you should be able to easily limit your greed and focus on a 10% - 15% monthly return which is by all means achievable with a good system (along with sound money management and R&R).
Forex is a game of discipline and patience. Hope this little thing can help some people out there to set achievable and realistic goals. Play around with it and see for yourselves.

The calculator is compressed to a zip file for attachment compatibility reasons.

Have a nice weekend folks! See you next week! :slight_smile:

Calculator.zip (7.87 KB)

2

I think these things somewhat fuel greed. If someone has a goal of say 20% per month and they don’t reach it. This can be a vary counter productive distraction to certain people. That said this calculator is interesting to mess with. But don’t aim for a certain percent every month. As long as your in positive pips your doing great for the month IMHO.

3

You have a good point there. It all boils down to personal goals.
It helped me though with setting realistic % returns and made me realize that one doesn’t need monthly returns such as 50%+ to make a good profit from Forex. But again, like everything else, it depends on individual interpretation. It will fuel someones greed, but my intent is actually to put things in a healthy perspective. :slight_smile:

4

the best way to lose money in forex is to have goals, I know this sounds very bad as it goes against what your mom told you when you where a kid, but once you start saying you must make 50 pips a week, or X amount of percent a week you starting doing these trades you subconsciously know are no good yet still click the buy or sell button.

The rule should be simple, if its not a good trade 110% percent do not make it even if you havent made a penny in 2 weeks.