Wondering if i can double my fx account every two months

True; and that’s the reality! Forex looks easy but in reality; it’s very smart profession, no way to make easy money here.

No, consistently a really good professional can do max 10% a month. So take that as a max. Brgds

If you can double your money then you should first try on demo for surety that it will work on Real account also.

So they should be able to double their account in 8 months.

Hmmmnnn… A bit of a slippery slope because I’ve managed to do this more than once give or take in the last few years. But let me be honest and say that with my new risk based position sizing I don’t see things being quite that great anymore. With my core trading system position sizes for the last few years have been pretty much thumb suck which evidently has paid off. But there have been wild swings in PL sometimes and frankly and with hindsight: those stellar trades could very well have gone the other way. Couple that with the fact that there’s been one or two severe market moves that would definitely have been against me in the last few years but again by sheer luck I was preoccupied with other stuff and wasn’t trading at the time. So I guess what I’m saying is that if you are trading like a proper trader and not taking big risks then this is probably also too high and not sustainable even if you do manage to get it right once or twice. So I would have to say that your skepticism is actually totally warranted.

It’s funny how you don’t see the wood for the trees until you see something that gives you pause. Like your post. I’m the first to take people to task when I see them citing these huge gains. But the way I see things now I’m probably just as guilty by quoting 5% - 10% per months gains on average per year. Now that this is full time as opposed to just a means to make some fun money I cannot afford to take big risks as at the moment I don’t have that capital buffer that I used to have thus my now taking things down a notch. So I’m saying really that maybe it’s possible but not without excessive risk taking. And if you’re trading 24/5/365: you’re not going to be able to sidestep bad trades whether it be by sheer luck or just good timing on your part. Guess I’m moving further and further away from the Mile High Club!!! LOL!!! but you know what: I’m alright with that. I think I’ll be around for a while. as opposed to… You get the picture I’m sure.

P.S.

Now how is this for coincidence!!! I only just realized (thanks to Bloomberg) that today is three years since the initial Brexit vote. And exactly my point made above. My core trading system just happened to have me on the right side of the trade. My lot sizes, as I say, have always been based on thumb suck. And when the futures markets tanked overnight I woke up this morning three years ago with an almost double account. Nice work if you can get it. And it was. Seem to remember getting pissed for the next three days. But is that trading and is it sustainable??? No. Definitely not. I could just as easy have been on the wrong side of that trade. Now it’s true that with what I’m doing now I would still have lost money (I think anyway i.e. have not traced the trades through and it may be a very good exercise for me to do) but it would only have been some percentage of my account i.e. certainly not as near as damnit to a total wipe out.

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Absolutely Dale. I was partly being sincere and partly tongue-in-cheek.

People think that tiny % increases in capital are inadequate and can be ignored. But if the account is compounded with the wins, the sky’s the limit.

On the other hand, market conditions rotate and a consistent +10% per month would be miraculous - not so miraculous in size but miraculous in consistency.

Which suggests we’re not getting the whole picture from @Gotland_Trading.

ATB

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Dunno if you saw but I edited my post above i.e. added something about Brexit which is rather prudent to mention here after my responding to your post.

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You’ve hit the nail squarely on the head Tom!!! And in only a few words!!! LOL!!!

In reality things work a little different, you’ll prolly lose all that 2k before you successfully learn how trade and that’s only the beginning after that you’d have to learn how to master your emotions. The 2nd stage can have varied time lengths depending on how well you work on in and how determined you are. My only advice is don’t deposit all your money at the same time, the further it is from your trading account the safer it is right now until you are fully aware of the markets. Good luck :+1:t6:

I’ll definitely subscribe to your trading journal if you’ll be doing this plan of yours and documenting it!

For first let us know what really happens with that $100 (I assume it was min deposit for some broker, correct ?) So how all this is going for you ? Any chance to win ? $2000 to $128000 in a year is a very serious income anyway and do not try to make it.

It’s a decent return and looks like realistic!

I can suggest to test this idea on a demo account at least for one more month! also try to enhance your skills everyday! Nobody can tell you that your goals are inaccessible, but every experienced and wise man would tell you to probe into “Zero Sum” game structure to know what’s going to happen most likely to your account!
Good luck mate

try it 2 more just to be sure
and use only a small account or whatever amount you are willing to lose in live account
also share with us your strategy
we all want to double our accounts :face_with_raised_eyebrow:

Actually you can but mostly if you trade top tier news

First of all what results did you get with the demo account? Do you have a trading strategy and is it successful? How many winners? How many losers? Overall P/L?
You also say that $100 account had an impact on your emotions. What sort of impact is $2000 going to have?
Can you consistently make 125 pips per week?
All these things need to be answered first.

If you think you can turn $2000 in to $128,000 in 1 year with less than 12 months experience i’m afraid you have a lot to learn about trading.

Dear
Its good to plan but work on a plan restrict you some times attempting results impact negative. Having 20000 ac balance is a good amount to trade and set plan upon it. I am not perfect one on the planet but i disagree to learn every thing on demo, in my own point of view demo is good for unitial start but its even more benificial for professionel traders dispite they are expert enough. I suggest fresh users first to use demo only for primery knowledge. When we work on demo we do not care and consider if we went in loss its ok no matter if we. One who is planning to invest from 2000 to 20000 usd must first work not on demo but on real only on cent type of account to test himself on real loss and profit base.