Resolved Question
How much does an average currency trader make?
I'm making $100K (regular job) now, should I quit and trade currency (assuming there are opportunity to make more)? Thanks, Me Nobody
over 2 years ago
Best Answer - Chosen by Voters
The answer is simple: NO!!! You can only quit your job when you make more than 100K on a regular basis (at least two years). You must think in terms of ROI % (Return on Investment) instead of pips or money so if you have $100,000 account and achieve a yearly ROI of more than 100% ROI you'll have your $100k however when trading for a living you must have consistent monthly gains and that's a whole new game.Trading is not for everyone (especially in the Forex market) and requires time and effort (lots of discipline and lots of patience).Cheers
over 2 years ago
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Answers (1)
Hey, Average person in the market probrably makes -$20k per anum. I highly recomend you dont quit your job as it add`s to your need to make money instead of the goal of becoming a consistant profitable trader. There isnt a quick fix here, if you want a steady realistic approch check out the site below, There is a limit on students and its by application only, however if you get in they guarantee a 100k salary within 3 years from currency trading or they will refund you 100% and pay for you to have another coach. They teach how to be present, her and now a part of trading not widely taught.hope this helps,Andy
over 2 years ago
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wallstreetsharks
I’ve been a full-time trader for a couple of years already. I’ve been through the ups and downs of forex trading and the fact is, trading full time is not an easy task as you will have to take into consideration if things go south.
Thus, I would like to have a few honest comments on your interesting post here based on my trading experience.
Firstly, day trading is a minus sum game taking into account spreads charged by your broker. In other words, the more you trade , the more you lose.
Here is the thing, people only look at the upside but fail to examine the risks involved. 95% of the traders out there lose money and only 5% win. How do the 5% do it? The answer lies on their methodology and psychology.
I’ve tried day trading, swing trading and scalping for a living but non of them worked except trend trading.
By trend trading, you spent less time monitoring the markets with smaller lot size to capture large profits.
Visit wallstreetsharks.wordpress.com for more details.
11 months ago
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