Hello friends
I am from algeria i am 30 yrs old
I ve been trading on demo for almost a year now
I have also trade with 3 real accounts but with a small capital
I am an ordinary worker in an office my monthly salary is 250 usd per month
I hate being this way
My question is can i replace my job with traditing
In an other way to ask can i get 300 usd per month if my capital is 200 usd
To let ya know guys there are not taxs on traditing in my country
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Anything is possible. Likelihood is another story.
You’ve been trading. So, you probably see how difficult it is to consistently get profits from the market.
I feel like you answered your own question.
Unfortunately, if your focus is on money from the beginning, you’re likely to lose money.
Develop the skill and the discipline, then the money will take care of itself.
So I’m told from more experienced traders. I’m still a rookie myself.
But from my experience I believe it to be true. Your decisions are affected by your greed.
It’s difficult, but not impossible. You’re the only one stopping you from pulling profits from the market.
Study hard!!
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Have you completed Pipsology?
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I have studied psychology from mark doglas for about 15 days
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It is very hard to do. That’s not to say it is impossible but I 100% feel you if you hate your job. You are better putting less pressure on your trading though and trying to grow some side hustles online that can help you out. I would do that if going full time trading anyway.
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I am profitable when i put plus of 500 usd as a capital but when the capital is lower than 200 i face some issues
But in general profitable
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Your Trading strategy work properly and you have the experience to manage your account properly.
So your first priority would be open $1000 account by doing this present job. Don’t Quit.
After Trading of 6 month $1000 account balance will tell did you replace your Job with Trading or not.
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Trading psychology is important as trading is so different in psychological requirements than other jobs. Especially when you are learning to trade and gaining experience, things are very different to the standard education we will have experienced.
In school things are often simplified to right or wrong for the kids. A score of 100% in a test is the target. In trading, you could say a score of 55% is perfectly reasonable. Also, being not badly wrong when you are wrong and being very right when you are right are far more important and completely acceptable aims.
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Not with good risk management
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Thats a 150% increase on capital each month. If you want to earn 300 per month i would suggest a much larger capital before looking to quit any job
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Hi! Definitely think that trading could work out better for you in the long run. Just be careful and practice risk management in case things go against you. Good luck!
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quit your job while you still demo?sound like a dump plan to me.stop demo go live ,face your fear and make some profit before you go any futher,my man.
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Is there any benefit to trade in three separate real accounts? I only trade in one account. Am I doing wrong?
No. I recommend you get a better paying job or learn a new skill so you can find a new job. Trading can make money sure but only if you have a significant amount of capital. $200 is far from significant.
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How much money do u suggest in order to be significant
Min $10k but then at that point you better be a decent trader.
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if you’ve been demo trading for a year you should know better than any of us if you might be able to make 300 usd per month.
I don’t know if it’s possible to make 300 usd from 200 usd every month. To me it sounds like there would be a lot of risk involved and I honestly don’t think that you can make it for an extended period of time.
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In my opinion, it’s very unlikely, especially consistently.
Instead of aiming for a dollar amount, I aim for a percentage each week. That way it’s a consistent return I am aiming for, as the dollar amount will increase as the account balance increases (assuming it increases!). If your account balance was $10,000 would you still wanting to be making $300 a month? Or would this goal also change as your account balance changes?
I aim for 5% of my account balance a week. Sometimes I hit it or get more, other weeks less. Each week I reset my goal based on my current account balance.
Based on your account balance of $200, this would be $10 in the first week, and $43 for the first 4 weeks in total. Not the $300 you are looking for. Based on 5% a week, you would need a starting balance of $1,500.
Go back over your results for your demo account (if you have one that started with $200) and see what you have been making and if, based on your results, you have been making $300 a month. You should have the answer!
All the best with your trading.
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You are demo trading for a very long time. Of course you can earn USD300 a month with a USD200 account. You can even earn it with a USD100 account.
Just make sure you get good Forex Training from reputable Place / Person.
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