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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£300 is nothing. You need a decent level of capital to love from trading. £50000 or so.
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You are asking this cos you’ve not faced market with real money. $300 per month with such will be really difficult but not impossible… I’d suggest a larger capital if you want to gain $300 per month
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The strategy dictates what you can earn, not your own ambitions.
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I hear ya buddy its not easy working a job you dislike .
Only thing is you have a goal so your looking to make $300 per month .
Assuming you can make 10% per month ideally you’d need a bank of $3000 to make this work.
That’s minimum really
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There is always room for improvement
“The disciplined trader” is amazing! I don’t know what other books he’s written, but read that book!
Don’t just watch videos. In my opinion, a book covers a subject from beginning to end. A video will cover just one or several ideas. It’s not as comprehensive as a book.
Get a digital copy, a hard copy…whatever. Just read it!
But beware! Trading will introduce you to your inner demons. If you’re not ready to face them, profitable trading will be difficult to maintain long-term.
@Johnscott31 has said it’s difficult to improve your trading if you don’t improve yourself as a person.
I think that means learning who you are, what emotions drive you, and how/when you lose control of those emotions.
Those emotions will influence your trading in the worst ways. Confronting them will be a big game changer for you.
However, trader psychology is not the last piece of the puzzle—just a big one.
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Thank you so much for this my friend
I know what i am going to face it is a step every trader pass through…and i am trying to avoide wht others regret they did not knew befor
Thanks a lot for yr great comment
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Hi there! If you want to make 300 $ per month you’d probably need to have a trading account of about 3000 $. That’s a 10% monthly rate of return every month which is pretty successful trading. You could work your way up to that from a much lower value trading account obviously - just takes time and patience. Also, psychologically it’s much easier to trade with money you can afford to loose, so don’t invest too much of your hard earned cash into this. However, on saying that, it is definitely possible - you just need to get over the learning curve, when you’ll lose money (as we all do in the beginning).
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How do you trade? Which pairs do you trade? There a lot of question to answers first before quitting your job and start trading for a living.
Why not doin’ both? You could work AND trade
VP, behind No Nonsense Forex, is the preeminent guru in making money slowly and surely. Check him out.
You are basically asķing if you can make 300usd per month on a 200usd capital.
That would be a 150% monthly capital increase if my math is correct.
Think about it and answer your own question.
Hey everyone, this guy disappeared about a week after last post and never returned. He’s a ghost.
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There was that thread asking where do they all go. I still don’t think we have a satisfactory answer.
DO NOT LEAVE YOUR JOB …don’t even think about it for now until this volatile market is settled . ur account can be wiped out and u become penniless overnight …do not be deceived . pls watch this movie titled ''Eat The Rich ‘’ b4 you make any decision.the film will open your eyes
I’m also going through the same experience
A year trading on the demo account could already give you some conclusion.
But watch out with demo accounts… because the money in the account is not real, your trading psychology may be different when it’s in the real account. For a new trader, in my opinion, before taking the risk of entering the market, should seek knowledge from experienced mentors as well as seek and rehearse appropriate strategies. Many times, when newbies are on the demo account, they just click on BUY/SELL and that doesn’t help at all.
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Some brokers give option to open Micro account where you can open a very small postion compare to any std account. with this type of account with a deposit of USD 50/- you can do a lot of trading with a very small fraction of profit or loss. if you are able to make USD 50/- to USD 100/- in one or 2 months then you are doing reliable trading.
Choosing between a job and trading is a very personal decision.
No one can tell how much you can make as it all depends on your skills. If you think you have enough savings to support you for at least a year then you can think of quitting your job. I’m a part-time trader myself. I spend a few hours every day to upskill myself in trading but I’m not going to let go of my part-time job till I’m an expert in forex.
Trading in multiple accounts could potentially lead to overtrading if not managed properly. Moreover, using multiple accounts requires additional effort in terms of monitoring and record-keeping, which can be time-consuming and lead to added stress. The goal of trading should be to make the process as simple as possible.