Rather than the questions “Can I get rich from Forex” or how much money can I make from Forex", I thought I’d ask what you would consider to be reasonable or modest expectations with regard to ones Forex trading.
Would it be reasonable to expect a return of, lets say 5% per month, after a year, having started from scratch? or would you consider this over ambitious and only achieveable by particularly talented traders?
Of course, there will be the few that can surpass this amount, but how about Mr Average, who starts from scratch, puts in a few hours a day learning the ropes and
applying what he/she has learned???
I do like the title of this thread [B]Realistic Expectations[/B].
The percentage figure you have quoted for an average trader
is doable. If & there lies the rub, if you do your due diligence,
learn to trade, find a system which suits you, control the “gamblers” instinct,
don’t chase your losses, etc. etc. etc.
Also learn to let go of that loss, it’s gone you have made the
wrong decision it ain’t coming back, trust in your system.
This is a good question, especially for people like me who is still trying to learn the ups and downs of forex. So i’d like to add another question.
After reading the replies here I see that this is INDEED attainable. But do I have to learn any trick to make this work? Any tips that can make me a better trader?
5% a month is achievable. It’s however not easy. I made 25% a month 4 months in a row, lol. So, after 4 months I went from 1k to 2k. Well, 30 bucks or so less. Then I went down the road back to 1k, lol. Now I just let my bots trade and I am again in profit zone.
I have almost (real money) 1000 trades under my belt. I’m still a newbie. I hope that gives you some ideas that it’s all not that easy as it looks like. If it would be that easy, we all would be Ferrary drivers, lol.
If you would like to take a hint from a trader who never blew an account and is still in play after a year and a little bit, don’t believe every day/week/month is the same. You can have good months with 10%. 5 in a row. Then the next month will wipe out 30%. Be prepared for the latter one when you file your first order! Don’t believe it would continue and continue every month. The point is: Those losses WILL arrive. You just don’t know when.
It’ll be tough to get there in a year. And you’re likely going to have to lose some money to learn some lessons though this shouldn’t deter you. I’m at the 1.75 year stage or thereabouts and it’s only been the last 3 months where I’ve found decent consistency of ~3.5% per week. And three months does not a statistical sample make so a run of losses could be right around the next corner for me. Anyway if you keep at it for a couple of years, can learn from your mistakes and mostly conquer whatever demons will afflict your trading I think 5% per month is reasonable but will take a good deal of effort.
Evening all… I’m usually pretty upbeat but tonight given the number of threads appearing along the lines of ‘how much can I make’ (realistically or otherwise) a note of caution. PLEASE first consider on each and every trade… [B]how much can I lose[/B]? Before pulling the trigger, this will always be the first base covered by each and every experienced and pro trader… no exceptions! They will know in advance where their SL is and why, where their TP is and why. Coupled with sound RR and MM rules.
Well, Forex itself is a high risk investment. You may win a lot of money, on the other hand you can also loose a lot of it just within a day. I would say, money management is the key factor to win forex.
