Hi I’m new to this place and really I just wanted to start off by saying I want to learn forex to help my family plus to also build a stable family in the future. I wanted to start by asking does anyone know if I can make £50 a day with a £1000 sized trading account?
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Every newbie should make a good plan to make money from this market.
Hello and welcome to the community. 50£ per day with 1000£ is for possible for new traders. In some day it can happen but consistently it’s not possible. If anyone tries to do it, he/she will lose all the money. Successful trading needs intensive skills and knowledge.
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As a Yes/No question, the answer is Yes. But this is only a theoretical answer in principle.
In practice, in order to calculate what you can win per day, you need to know the strategy’s win rate, % of capital per average loss, % of capital per average win, and the number of trades available per day. For such a short period as 1 day and for such a small account size, the margin required is also important - margin requirements might restrict you to only having 2 or 3 trades, or maybe even only 1 trade open at a time, which obviously limits the number of trades you can take per day.
In short, you need a strategy.