How much does a Forex trader REALLY earn on average?
So... how much does a Forex trader REALLY earn on average?
We've all heard stories of that one single kid from a lower-class family who started trading and made millions in the nick of time.
These stories are heart-warming and inspirational, but usually always due to superhuman focus on daily learning and trading until all the hard work pays off. Real-life stories like this are, of course, extremely rare. There is also another type of story. The story of the guy who made millions trading for a few days, then lost everything because he was convinced he had found the Holy Grail – when in fact, he was just lucky in the beginning. Unfortunately, we cannot expect the stars to align in our favour.
It's important to understand that random events, like 'luck' - are totally and utterly unreliable. Without proper trading principals, failing is easy. Looking for a place to start? Learn to trade step-by-step with our brand new educational course, featuring key insights from professional industry experts. Effort, Focus and Determination The most obvious way to answer this is to consider what you would do with your own company. When you decide to start a company, you do not just invest in the first idea you hear about, right? You shop around and consider various options because you know that a fool and his money are soon parted. Once you're running your business, you probably won't just go with the flow of things either. To make your firm work properly, you need to plan, set targets, check progress, and make budgets. The same principles apply to trading. As with fulfilling your life goals, meeting your Forex goals requires you to apply yourself with effort, focus, and determination. As Vince Lombardi said, "the only place success comes before work is in the dictionary". When you Google something like "Forex monthly return", you may stumble into some account statements or claim results of people making millions per hour. Don't forget that with every story that seems to be too good, there is usually a catch.
That story you hear about a Wall Street guy making 10 million USD a year may be true. But, what the story may not mention is that he manages billions of USD. Those 10 million USD are less than one percent of the total account that he manages. Compared that to a 1,000 USD account, it amounts to a return of just 10 USD a year! Before you try any form of trading, we fully recommend you give it a try in a risk-free environment first. This will allow you to try out different strategies, techniques, timeframes, etc. without putting your capital at risk. Most stories don't make that fact evident – sometimes deliberately – so ordinary people get the wrong impression. The actual results of this magnitude are very rare. If you doubt the rarity of successful large-scale Wall Street trades, ask yourself how many times you have seen a Wall Street trader publicly display his or her results? Of course, there are exceptions, but 90 percent of the big fish won't share because they aren't performing at that level. Back to Reality There are a lot of traders who believe a combination of proper capital management and correct strategy application can make money… and some of them do. But most can also sustain considerable losses because they have enough initial capital to get them through to the potential next win. For the majority of professional traders, the average Forex monthly return is 1 to 10 per cent per month, ever-since and in 2018. REMEMBER: you won't get anywhere near a return on your investment if you don't put sufficient efforts into educating yourself and learning how to utilise the types of analytical and top-notch trading tools that professional traders also use. We full recommend tooling up and reading everything you can, before you head out into the world of trading.
What should your forex strategy include?
We've all heard stories of that one single kid from a lower-class family who started trading and made millions in the nick of time. These stories are heart-warming and inspirational, but...Read more