can u make money trading forex

think differently. Dollars can purchase one Swiss franc, or how many Swiss francs you need to buy one. Post them in the comments below or Tweet them to me @JustinBennettFX Help me answer questions. Look at how this broker makes it so easy for you to trade away your money. If you risk 3000, then you can make an average of 60,000 per year. I spent months testing it and backtests showed how I could make 25,000-35,000 a year off of a 10,000 account. Now Theres no right or wrong to this. If I missed something or if you have something to add, dont hesitate to leave a comment below. If you must set a monetary goal, here are a couple of ideas to consider: Keep it conservative. I've written many articles about this topic. Sometimes in order to move forward, you have to forget what you think you know. My plan was to trade forex for a living and let my account compound until I was so well off, I wouldn't have to work again in my life.

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can u make money trading forex

And this is known as your expectancy. These are the three things I wish I knew when I started trading, forex. Neither of these are habits you want to feed. What it all comes down to is simple support and resistance. In this example, the expectancy of your trading strategy is 35 (a positive expectancy). Now to be truly successful you need an extremely comprehensive capital management system that not only protects you during periods of uncertainty but also pushes you forward to experience capital expansion. Do you have any useful guides for new FX traders? While theres no harm in asking questions, the answer you receiveand whether or not you dwell on it can have serious consequences. But heres the thing: You can t compare yourself to them. Now Thats not to say you can only make 20 a year because, for a day or swing traders, the percentage could be higher (as you have more trading opportunities). If you want to sell EUR, you click Sell and you will sell euros.34568.

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