If want to start trading forex, then you likely at least want to know how much you’ll be making or losing in the process, right?
Sadly, it’s extraordinarily difficult to come up with real mean average profits even as estimates.
The reason being, most novice forex traders burn out only within the first few months of trading as a result of being greedy.
So, how much realistically can forex trader make?
Like most stories of folks who rose from grass to grace over a given period, the forex market is not exceptional.
You must have come across stories about a professional trader who simply made millions only trading forex a few days to lose everything later for relying on luck a little bit more.
However, what determines success in forex trading are the proper trading principals.
Moreover, patience and discipline are all significant. Besides, it requires effort, focus, and determination.
Effort, Focus, and Determination
Like every business, effort, focus, and determination are crucial in becoming successful in forex trading.
Before, setting a foot into forex, a lot of research is required to ensure that one stays ahead with every detail that forex trading entails.
During the process of research, a trader is required to come up with a proper plan, set realistic targets, check the progress regularly, and set budgets appropriately.
In forex trading, a lot of effort is required, great focus, and exceptional determination. Success never comes first before work.
So, how much money is there trading forex?
It’s not a secret that most folks are making a lot of profits trading forex. However, what most people never reveal is the amount of capital being managed by those successful traders.
In fact, in most cases, those traders making like 10 million USD a year usually manage billions of USD.
Therefore, it may be that the 10 million USD is merely less than 1% of the total account capital the trader manages. If you can compare that to say a 1,000 USD account, it simply means that one will only get 10 USD a year.
Therefore, the amount of capital that one merely starts with may determine how much gain a trader will garner in a month and cumulatively over the year.
However, every novice trader is required to start their trading journey first with a demo account.
The significance of a demo account is that it allows a trader to try out various strategies, time frames, and techniques without risking real money.
Therefore, the most important thing to learn is that forex is an extensive market with varying profits depending on a particular individual’s efforts, determination, capital, and strategies applied.
During the start of the journey, things aren’t promising either for almost 90% of traders.
The Forex Reality
It’s not always the case that proper capital management, as well as correct strategy application, is crucial to high returns.
Most traders with huge initial capital have lost and burned out, while those with little capital have slowly but steadily made it through to great heights.
Basically, for most experienced traders, the average monthly return in forex trading is somewhere between 1-10% per month.
The Bottom Line
Forex trading requires a lot of learning and dedication at first. Moreover, a lot of focus has to be put in as well as determination.
Ensure that you educate yourself and fully understand everything that forex trading entails.
Furthermore, you should learn about the various analytical as well as high-quality tools for trading that experienced traders use.
Moreover, the Meta Trader platform has been boosted to offer traders an opportunity to reap big in the market.