How much could one earn in currency trading?
Saturday, May 22nd, 2010 at
8:54 pm
Let’s say that I had ,000 principle in a trading account. I am a novice( beginner). What should I expect for earnings if I profit on 60-70% of trades in forex?
Tagged with: earnings • novice beginner • principle • trades
Filed under: Uncategorized
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There is no limit to winning. No limit to losing either.It is best to trade according to per day/ monthly target . Forex trading without strategy or knowledge is killing. Initially keep the percentage low- around 40-50 . As your trading skills increase and the trading becomes smoother go on increasing your monthly percent target of your profits.
It is best recommended to start from low targets and achieve them.
It depends on how much margin you use for your trading and how big your losses and gains are.
It’s the total amount of money you gain or loose that matters and not the percentage of your profitable trades. Because you can have 99% of your trades profitable and still loose all of your money in a one big unprofitable trade.
If you are a beginner. Then it’s a good idea to do a lot of paper trading for a few months or a year before you start trading with real money. Because you can’t afford to learn on the job and loose a lot of money as a result. You need to be competent from day one when you start trading with real money.
For a beginner, 60% profit is way too much.
In a proven track method, manual or automatic, you can generally get 20% per month with winning probability of 70%, means in every 10 trades, you will 7 and lose 3.
I say, trade with demo account first. after you get the method right, trade with real money with small amount [$250] in mini account. If oyu doubled your equity, you can deposit more money in to your account or even open a standard account for less margin.
Happy trading,
there is no assurance of any expected profit in forex trading. it’s a very volatile market, you may or may not profit at all. it would greatly depend on your trading skill. being a newbie, suggest you do a lot of paper trading first. get into this site and download a Free $50K practice account. it takes constant practice to really get into profitable trades.
There is no way any one or any system can guarantee a profit in Forex.
Since you are new it is best to start small and then scale up after you have achieved your goal of 60-70% success rate.
Profit could be anything over a penny to much larger amounts,and no one can really tell you what your profits will be.
Good training, starting small and then growing is the smart thing.
Going to big to fast is the quickest way to fail IMO.
try http://eforexmarketplace.com/
it is affiliated with easy forex which is one of the top online forex broker
it is also free to open an account