Is profit from forex real? Is forex trading real? How much can you profit from trading per day? How much trading profits per month? How do you make money from forex?
Is profit from forex real?
You must have heard about George Soros, the forex trading legend of all time. At the same time, the average trader can also achieve amazing results. Let’s look at who can be included in the list of the best traders.
Cheng Likui deserves to be included in the list of the best traders. King gained worldwide fame in 2008. This ordinary trader from Shanghai – China started trading with $400 and set a new record of forex trading.
In less than a month, he had $247,000 in his account. Cheng didn’t need more than 6 months of training. He did not fully reveal his secrets, but admitted that he relied on outstanding orders.
Is profit from forex real? The most wonderful story happened in 2012 with Ahmed Aref, who managed to turn his dreams into reality and become a millionaire from forex trading. After two weeks of active trading, he managed to increase his initial capital from $1,000 to $1,000,000.
Use aggressive tactics in trading major pairs such as GBP/USD and EUR/USD. Nobody expected to become a millionaire by adopting this risky strategy.
Of course, greater profits come as a result of larger investments. The average annual return for a professional trader – after accounting for risk – ranges between 20% and 100%. So the difference can be easily seen: 50% of $100 means a profit of $50, while 50% of a million dollars means a profit of $500,000.
Read more: How to earn money for beginners 2023
Read more: How to make a profit of 50 dollars a day
Is it possible to rely on forex profits as a source of income?
Is profit from forex real? Many traders were able to secure their income and lives through forex trading, as they achieved great returns that enabled them to dispense with any other job. A beginner forex trader can make permanent profits from currency trading even if his initial investment amount is relatively small. It takes patience, adequate training, and constant learning to be able to achieve continuous periodic profit.
Of course, no one can guarantee his income. But with sufficient trading experience, the individual will be able to make a steady profit. Then he will have the opportunity to expand his balance to $ 400,000, for example. After that, a monthly return of 3% – 4% means $12,000 – $16,000 per month. Which is more than enough money to have the life he wants! How long does that take? This depends on the initial balance of each trader, and on his level of courage and risk.
What trading approach should I choose?
Is profit from forex real? Forex traders can be divided into those who trade themselves, those who copy the trades of professionals, and those who rely on automated trading. Each of these approaches has its advantages and disadvantages that appear according to the performance of the trader.
Self-trading gives a real feel of the forex trading system and means full control over the deals. It requires a lot of time, attention, and accuracy, because the trader makes his trades by himself without any automated support. This type of trading is very useful and helps the trader to understand all the details of the market.
Is profit from forex real? With everything in the hands of the trader, it may cause him to become exhausted or nervous if he has many deals in progress. At the same time, opening or closing positions is up to the trader himself and he can do it whenever he wants.
Is profit from forex real? Adopting automated forex trading has the great advantage of eliminating the impact of emotions, which is especially great for novice traders.
Trading based on robots is possible when a trader cannot enter the market for one reason or another. Unfortunately, automated trading does not enable a trader to have complete control over their account.