Can you make a lot of money just trading forex?

[Daantje Pieters]

Yes, it is possible to earn a lot of profit by trading Forex. Trading is very risky but to make this risky situation easier, proper money management and risk-reward should be maintained. A plan is needed to maintain a 1: 2 risk-reward. To develop trading skills, it is essential to maintain these things. I have acquired the ability to maintain money management and risk rewards after trading for a long time.

 

[broskibroski]

the danger of forex trading is that people want to rush. And thats what causes them to blow accounts. So use a demo account for as long as you feel. Remember these "big" instagram traders never show their losses

 

[Kaybino]

After I spend a lot of money trading and blowing accounts I don’t think you really make a leaving just by trading forex

Studying price action, learning a strategy that suits you and sticking with it might help. discipline was what i lacked at the start. try a demo account, practice your strategy on it. if you cant complete a hundred+ trades using that strategy alone, then you might be lacking discipline.

p.s: after i identified my lack of discipline i practiced on a demo account for six months(mostly because i was broke) using proper risk management and i finally saw the light.

it takes time to get to that level.

 

[Just me]

After I spend a lot of money trading and blowing accounts I don’t think you really make a leaving just by trading forex

I did also blow my first two accounts. I personally know some other successful traders in general (not only forex), that expierenced the same. At least one acc. one guy did blow 6 acc. until he became slowly successful. Never give up, if you like trading and especially if you have a passion for it. I trade only GBP/USD and US30. But one is more than enough to make a very good living. But you must know your craft.

I did lose, fortunately, not that much. Lost only 5% of my savings, which was/is justifiable for me. I saw it as tuition fee. Nevertheless I was overwhelmed with emotions while trading with real money. Mastering the psyche was the most difficult thing for me. After the loss of my 2 real accounts I went on demo for 2 weeks and then again real with 0.01. I then increased the lot size gradually. I only traded GBP/USD. After I mastered the craft, I traded GBP/USD above a year (day and swing trades). Only then did i dare to approach us30 and trade two at the same time. But it will never be more than that. But I am already slowly targeting the future market. Many people make the same mistake. Master and understand just one asset. One is also more than enough to be able to live from it, if you have become pro in it. Then you could dare to trade to others or a second one at the same time. More makes no sense from my point of view. Because then you easily overlook details, lose the overview etc.

 

[Just me]

After I spend a lot of money trading and blowing accounts I don’t think you really make a leaving just by trading forex

Ups I forgot to say DON'T try to flip your account. This is why most people blow up their accounts. They don't wanna play the longerterm game. Give you time to learn it. Or would you expect to be a doctor by next month?

 

[yusakk89]

not a lot money, but you can get 20% per month.. it's bigger than save your money in bank

 

[qwerty84]

of course, if not there wont be full time trader..

 

[mlawson71]

Unless you lose all your money trading. Which is what happens more often than not.

 

[doganhabibi]

Sure you can, but to make a lot of money you have to invest also a lot of money. But also you have to get the knowledge which is pricesless but free free to get in so many ways.

 

[rashid38]

Every new trader who comes to the Forex market is eager to make millions. Interestingly, many of these traders, despite their complete lack of experience, have great confidence that they can earn their first million in a year or two, or even less. What is such confidence built on? And it is built on simple arithmetic, and from the point of view of arithmetic, these calculations are absolutely correct, the error lies in the wrong initial data.

 

[micaiah]

One can learn to profit regularly, but it takes a long time, a lot of effort and often a lot of losses along the way, and not everyone can deal with that.

I ran into a big loss which made me stop trading

 

[micaiah]

Studying price action, learning a strategy that suits you and sticking with it might help. discipline was what i lacked at the start. try a demo account, practice your strategy on it. if you cant complete a hundred+ trades using that strategy alone, then you might be lacking discipline.

p.s: after i identified my lack of discipline i practiced on a demo account for six months(mostly because i was broke) using proper risk management and i finally saw the light.

it takes time to get to that level.

thanks alot for this

 

[micaiah]

I did also blow my first two accounts. I personally know some other successful traders in general (not only forex), that expierenced the same. At least one acc. one guy did blow 6 acc. until he became slowly successful. Never give up, if you like trading and especially if you have a passion for it. I trade only GBP/USD and US30. But one is more than enough to make a very good living. But you must know your craft.

I did lose, fortunately, not that much. Lost only 5% of my savings, which was/is justifiable for me. I saw it as tuition fee. Nevertheless I was overwhelmed with emotions while trading with real money. Mastering the psyche was the most difficult thing for me. After the loss of my 2 real accounts I went on demo for 2 weeks and then again real with 0.01. I then increased the lot size gradually. I only traded GBP/USD. After I mastered the craft, I traded GBP/USD above a year (day and swing trades). Only then did i dare to approach us30 and trade two at the same time. But it will never be more than that. But I am already slowly targeting the future market. Many people make the same mistake. Master and understand just one asset. One is also more than enough to be able to live from it, if you have become pro in it. Then you could dare to trade to others or a second one at the same time. More makes no sense from my point of view. Because then you easily overlook details, lose the overview etc.

thank you sir

 

[maximilian98]

the danger of forex trading is that people want to rush. And thats what causes them to blow accounts. So use a demo account for as long as you feel. Remember these "big" instagram traders never show their losses

yes correct... I allready blowed few demoaccounts... 2 real accounts to... but I learned more the lesson (to be patient, monemanagement) losing real money (not nice but helped me a lot)

 

[spike65]

I started with 100.00 4 weeks ago and now I have 1266.00 I have also been useing the GPS EA and make money every night one trade only and in comes the money

 

[maximilian98]

Very hard. That's why got this club…the 90% of retail traders who lose 90% of their money in 90 days.

yes this is really true, I'm one of them... but some people to have to learn in the hard way... patience is always the key and not beeing greedy

 

[Akwin]

Glad to see this topic, I would like to know how much do forex traders make a day? How much can a beginner make on forex? Can you start Forex with $10?

 

[KLEEM]

Yes you can make a lot of money trading forex if you have a large trading capital. Do not expect to get rich from starting a 500$ trading account. If you'd want to make 10% return a month which is already pretty high, than you'll need to have a 100k trading account in order to do that.

 

[raduce]

It depends on how much time do you invest in it...

 

[Akwin]

Not likely. Small trading accounts are at least 1000 dollars. But if you are looking to make trading a career, then 20-50k.

I appreciate the time you took replying, please let me know if anything changes. Just one more question about how much can a futures trader make? Your prompt perception matters