How much can you realistically make in forex trading

There are a lot of people who have spent several years to learn forex. They have tried so many systems and strategies but they still lose. They have had several good systems but they have not been able to make those systems work and make money for them.

They know much more than what they should know to be a profitable trader, but they still read and learn more and more and still they think that they have not learned enough. GREED is the most important reason of their failure. They have not been able to become a profitable forex trader because they are greedy. Because they are not even aware of their greed. Greed is a normal emotion that everybody has.

If you have not been greedy so far and if you think you are not greedy, just trade forex and see how greedy you are. Everybody likes to work less and make more.

I say you are not able to control your greed. Because everybody is greedy. The difference is some people are able to control their greed and some people are not. Then I will tell you what to do to become able to control your greed and become a profitable forex trader.

Please read the below paragraphs to see what made me talk about greed:. Last Friday the daily candlesticks had formed a very strong sell signal with several currency pairs including NZD-USD which had the best trade setup, but unfortunately market was opened on Sunday afternoon with a big gap, almost in all of the currency pairs that had already formed a trade setup. Usually when market opens with a gap, it is used to go against the gap direction and fill it because those traders who already had a position from the last week, when they see they are in a big profit because of the gap, they get overwhelmed and close their positions to collect their profit and so price goes to the other direction right after the market open.

In these cases, I just call it bad luck and then forget about it and wait for another trade setup. I never enter if I am late. If I can enter on time and with the price that I should enter, I do it, otherwise I ignore the trade. This is a very important aspect of discipline that a trader should have. Our greed pushes us to enter even when it is too late.

I know it is a pain to see a good and a strong trade setup runs away from you while you are not on board, but this is part of the game too. We can not catch all the movements. I read somewhere that a trader said he preferred to be late than wrong. But I think being late can be as risky as being wrong. So I prefer to be right and on time than wrong or late.

Maybe many of you, have been trying forex for several months or even a few or few years but have not been profitable so far. You make some profit every now and then and lose it with some bad trades. Let me share a million dollar secret now. It is the right time to do it. You will become profitable only when you become able to control your greed.

If you review your memory, you will see that most of the bad positions you have taken are because you have not picked a strong signal or because you had missed a strong signal but you pushed yourself to enter and make some profit and get out. But they went against you right after you entered.

Maybe they have been waiting for you to enter to change their direction. Sometimes it really looks like that a position has been waiting for you to enter and right when you clicked on buy or sell button, it changed its direction.

It is because you are late or you have picked a poor signal. Being late or picking a poor signal is because of nothing but greed. You can not ignore the money that it might make for you. So you take it. When it comes to trading, everybody becomes greedy. I am not criticizing you. I knew myself as someone who could be everything but greedy. But when I started trading, I discovered my greed. It is hard to know it first. You have no idea. You are not aware of its presence.

You will become a profitable trader only when you know it and become able to control it. Besides, you can still leave some of the monthly profit in your account to grow it even bigger. Then you will have more monthly profit.

What I am trying to say is that a small but steady monthly profit can create a great income for you after a while. But if you follow your greed, you will do nothing but losing your money. This is possible only when you become a consistently profitable trader. To do that, you have to follow the right track and pass the stages: Quick Start Guide For New Forex Traders.

Hello, I think that this was a great article. I suffer from every aspect of greed that you listed. This week alone I have made more money than in the past month.

What are the average realistic monthly returns for a Forex trader?

So thanks, you really described my dilemma, and the pointed me in the right direction for profitable trading. Hi there, what a nice article you have written. I have been trading just for 6 months and i saw myself in several parts of this indresdible article. Thank you so much for sharing your opinion, believe you are saving lives you are giving us a chance to see the bigger picture. Thank you so much for sharing…believe when i feel that greed is trying to control me i run to this article to remember all you told Hugs from Brazil and Green trades for us!!!

Thank you so much for this article. I have blown up several accounts. But the strong passion I have for forex keeps me coming back each time I plan to stay away. Really great article, thanks! I will read it again time after time. I have a few trade setups per week. A forex trader can expect to become rich through forex trading.

Making a 6 figure income through forex trading every month is a piece of cake for the professional traders.

Hi Chris, Can u please help me in trading, let me also known the strong setup. Hi Chris, first of all, thank you for your great articles. Allow me to ask you the following:.

I would appreciate very much your answer in order to know if I am wrong or what would you recommend! If you make a 1: When you take a trade, the only thing you know for sure is your Risk, because YOU fix it.

The problem is that you never know the Reward. Thank you for your inestimable support and hope one day all of us who are learning from you could do the same good and help others. Novice traders can also do it if they learn to take the too strong setups on the long time frames. It is not possible to predict the reward.

You never know how far the price will go even after a too strong setup. It can even hit the stop loss at its initial level. All we can do is that we take the too strong signals and set a proper stop loss. The rest is not under our control, nor we can determine how far the price will move. The basic thing for me is to focus on doing thing well.

Doing so, money will come sooner or later at least to make a living. I think I am not a greedy person. I just pretend to make a decent living. The most important thing for me is not to be dependent on any job, and to have time for my family. If I have it, fine. Hi Chris, could you please advise how to trade from a country where Fx or Margin trading is banned for Retail or individual trader. We trading using the candlestick patterns and Bollinger Bands. We also use technical analysis sometimes when it helps.

Dear, while reading your article I believed you are talking about me. I will follow your articles and I wish succeed. I have question, there is an agent or employee of a brokerage company suggesting me to open an account worth U. If they allow you to trade mini-lots 0.

Can I know market maker brokers only let us to open USD account? Asiri you may want to look at Oanda you can trade any size. I do not work for Oanda! Chris , LuckScout your the best.. I switched back to practice…. That means I should have no problem trading a standard lot , units , right? So, the answer is yes.

But are you going to take that risk? Hey Chris, Is that really true? Can you touch on this or correct me? Maybe they put the small accounts on a market maker system. How is your trading going now? Are you still demo trading, or you are trading a live account now? You will always have time to open a live account. There is no rush. Make sure to read the below article, if you have not done it yet: I meant it is not possible to have such an account and income as a retail trader with the ordinary brokers.

Based on what you have said in this article. Would you please explain this to me whether it is possible and safe to keep growing the account until the third year and have a million dollar accoun and then withdraw it?

That is possible but it is risky with retail brokers, although the risk is not too high. You can split your money among a few brokers. Later when your capital grows, you can trade through banks which is a little more expensive but much safer. Hello, I have had this same concept in my mind forever.

The only problem is that I can not consistently get winning trades. I have done a ton of research on the safest strategies but I am lucky if I win over half my trades. Do you have any advice on a solid strategy that produces consistent winning trades? Thank you for your comment and welcome to LuckScout. Please start from here if you are looking for a good trade setup: I would love to change your name to Jesus Chris. You have made my day with this article. Everything is POSSIBLE … the only limit is our Limiting beliefs of what is possible or not!

Can you earn thousand bucks per month with the ordinary brokers? What are the brokers where you can earn more than thousand at month?

What do you say? Does this calculation make sense? Yes, you are right. It is possible to make more or less than that with different trading styles. Chris But how it is possible then What you reckon ordinary brokers. You recommend some broker Who kept our money safe and Are not termed as money maker.

Realistically, How much Money can I Expect to Make?

Do you think ECN Broker or any other advice. I am abdelghani from Morocco. Very nice article Chris! It seemed as though you read my mind and wrote in words about greed. Hi Chris, just read your article and liked it. Any advice for a newbie? Before you open a live account: At the end of weekdays, which one is better, opening position at the close of a candlestick or at the beginning of opened candlestick?

After all, market usually opens price with gaps after weekends. I prefer to take the position before the market close. Strong trade setups are usually followed by agreeable weekend gaps that might not be filled sometimes.

So that we cannot enter. Do you trade all the 24 pairs plus gold? Or do you just trade the previously mentioned 19 pairs and gold? Thank you for the sharp article that really describe what im going through at the moment. Quick question, in a day how many hours we trade to not over trade? If you choose to be a day trader, then you have to be at the computer during one of the main sessions London or NY which is too hard and tiring.

My question is do you take positions on the daily and weekly time frames on Fridays when the candlestick has formed if it is a strong trade set up? I take my positions on Friday afternoon if I see them on time and before the market close, otherwise I wait till the market open. In that time period you and the folks at LuckScout have taught me how to have a life trading Forex. The major thing is I have slowed down. I am no longer trying to scalp my way to success.

I am no longer sitting at the computer for hours per day. I am learning how to live life with a business model that allows me to do just that. I began with learning Forex November I made a commitment to Josie and myself that I would find a way to add value to our lives by trading Forex. I am 69 and Josie teaches school. My retirement is meager to say the least. I love The DBB trading plan. I know I can make a good living if I do nothing else other than trade DBB. In my humble way, Thank you from the very bottom of my soul for showing me the way…The Forex Way!

You have found the right track. Just keep on following it and you will reach your destination soon. You are so close. Hello Chris, I am so impressed with your advise but i am a total novice when it comes to forex trading and i very desperate want to take part in it as my a full career to make a living.

I plead to get a response from you and please let me know you location and if it warrants me coming to see you or inviting you to put me through, i will be very grateful to do that. You can start from here: Hey, Myself Suraj, I was searching for good plan, and look what i got awesome plan by you sir, I am really impressed with your all articles Sir. You are just awesome, helping every trader with right and usefull articles.

I am now big fan of you. Sir, i am really impressed with your articles. So sir whats the maximum lot i will be able to use? Your other comments are also here: Your article is really great! Do you think it is a realistic goal? What I suggest you is that you focus on learning first and forget about the profit for now. When you learn how to trade you will know how much profit you will be able to make.

I thanks you alot chris for this information. This article has opened my mind alot i wil now stop been greedy and wait for clear signals for me to enter a trade. Am now practising in demo account to see all my mistakes and correct them. Yes, you can do that. However, forget about it for now.

Just keep on learning and practising on your demo account. Then grow your small account. Money comes when you learn how to trade. I wil do all that so that i can succeed in this career for full time basis.

May all your wishes be fulfilled by your Almighty. Is it safe giving it to them? As you read so many scam articles I am slightly worried investing my 20, savings. By law, brokers have to verify their clients identity before opening an account for them. They can easily pay you because the liquidity providers pay them the profit. If they are market maker, then they will never let you grow your account to one million. Hi Is it necessary to use leverage to succeed if I trade according to this plan?

I mean are the calculations based on leverage? The more updated version of this article is here: Thank you Chris for another valuable article. Is Oanda a market maker? If i am able to make a million dollar profit each month, would i be able to withdraw my profit from this broker or they would take away my profit? They clearly state that they are market maker.

I have never heard that. I am looking to invest. Also do you know at what lot size would create liquidity issue for EUR JPY? I have heard that even with a lot size trade, it would move the market in a adverse way. Regarding the lot size, it is the matter of market conditions and liquidity. Some liquidity providers can handle huge lots sizes under different market conditions. And how can we know who does and who dont? I heard that trade more than 10 lots at time, can turn the market against you.

But when you trade through a good ECN broker that works with strong liquidity providers, you will never have any problems with the lots sizes like 10 lots or even bigger. I have heard that the biggest account size in Oanda is a 8 figure account size, i am sure with such a big account size, they will regularly withdraw 1 million dollars in profit each month. Hey i have a system with win ratio around 54 percent but now it has dropped to 50 percent and the risk reward ratio is 1: So stop trading for a while and then start from the scratch while you promise yourself not to over-trade and not to take the weak trade setups.

Am i right thank you? If both of them form a too strong trade setup at the same time, you should take the one that looks stronger, not both. Chris how do you explain everything in this simple way? It was a great article. Greed is a killer poison. I should take more time to focus on my greed. I should think about it. I should feel it.

What Can I Realistically Make My 1st Year Trading Stock Options?

I am gonna fight this greed. But i really think i should learn everyday to control my emotions. I have a long way to go. This is a really cool post, and for a good trader it is achievable. Just thinking about a loss alone in a large balance account would make anyone go crazy. You have to learn how to keep your loss limited and let your profits grow. There are several articles about this on this website. This is one of them: Hey Chris, I just read this article for the second time, wanted to thank you, for me personally its the most important article, my last station before becoming profitable.

The market is so full of temptations, and I just keep win and loose. It will be really nice to here a few words of building a written trading plan and commit to it, I just did it, hope I did it good. I wish you all the best, its a true plesure to read anything you wisly write. I think I can write a good one. Of course you can do that and I will be more than happy to publish it on the site under your name.

Please do it if you feel like that. I have been reading your articles i find it very useful for a novice trader like me. Could you please Help me on this. Please refer to the below thread and ask for other LuckScout users help: You have to pass these stages to become able to do it, if you can: The above numbers are just examples.

There are so many pitfalls on the way of traders. This article wants to make the traders to understand they will get better results if they limit their greed. You can refer to our archive and see how I have talked about the pitfalls in some other articles in details: Just an example to illustrate it would be enough for me. But in another blog https: This is what the first article above says.

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