Yeah, it is not possible to make such a good income everyday. You could earn it in a week or probably in a month
Does anyone knows how much can I possibly make a day in the FOREX market with $3,000?
- Thread starter ARISTOKRAT LAN
- Start date
Yeah, it is not possible to make such a good income everyday. You could earn it in a week or probably in a month
Skill is required to making consistent profit, loss in trading still inevitable at sometime, but already there are success trader that can making good income in trading and forex still giving us to learn and success
Yeah...! You need to have lots of skills and knowledge and experience if you really wanna become a successful trader.
Might not easy to achieved success in forex business, many barrier might facing successive loses and i think to achieved success also need patience and high dedication
Best trade in FX is buying AUDNZD on weakness, . Trade the lows, and calculate your position size as if you have a stop 100 pips lower that parity, every move into profit , take profit, if it goes against you buy more as your risk strategy allows. Around parity load up on AUD. Have done this trade before, look at you daily weekly and monthly charts to find your numbers. YOU WILL MAKE MONEY.
Why waste your time with OTA when there are lots of good books and free resources that teaches you the same things?
As for your initial question. It's possible to make good returns on $3k a day, granted that your strategy is one that minimizes risk and maximizes profit potential. In my own case, I started with $5k and was swing trading. I did it with success at first but I stopped because I realized that the risk in proportion to my capital was a serious issue. So, I switched to day trading futures and started with another $5k. Now, it's not unusual for me to risk on average 7 ticks with the possibility of making 30+ ticks. For instance, I just closed out a trade in gold maybe 20 minutes ago. On that trade, my risk was literally 4 ticks but I made 20 ticks. If you can trade like that on a small stake, you can do well. Do trade that way, however, requires that you know how to read charts really well.
......For the record, I'm not promoting/selling anything.
EDIT: I'm slapping myself for getting out of that gold trade since the market moved another 50 ticks in my favor.
As for your initial question. It's possible to make good returns on $3k a day, granted that your strategy is one that minimizes risk and maximizes profit potential. In my own case, I started with $5k and was swing trading. I did it with success at first but I stopped because I realized that the risk in proportion to my capital was a serious issue. So, I switched to day trading futures and started with another $5k. Now, it's not unusual for me to risk on average 7 ticks with the possibility of making 30+ ticks. For instance, I just closed out a trade in gold maybe 20 minutes ago. On that trade, my risk was literally 4 ticks but I made 20 ticks. If you can trade like that on a small stake, you can do well. Do trade that way, however, requires that you know how to read charts really well.
......For the record, I'm not promoting/selling anything.
EDIT: I'm slapping myself for getting out of that gold trade since the market moved another 50 ticks in my favor.
Last edited:
I agree with your point but think the lawyer analogy is not illustrative. Law school is only 3 years and if you go to a top 30 law school and graduate well you can make from $40,000 to $125,000 ranging from public interest/government to private law firm so do not understand the statement that there is NO money to be made. Lawyer is not a skill being applied in a random at times market where you lose money.
Better analogy is professional athlete who has to work their ass off for years to make it and still work hard to stay in peak condition to continue to succeed. Most will fail. Getting a weekend course on golf from a seasoned pro does not mean you can hit the PGA Tour and make money. OPs question shows the lack of respect for what it takes and he will lose his $3000 quite easily.
This is a much closer analogy, both for the reasons you suggest above and because one of the commonalities between professional trading and professional sports is that fewer than 10% of the participants are probably earning more than 90% of the money.