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TO GAIN at least 5-10% a month, every month. IS THIS POSSIBLE?
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iamartist

Member Since Nov 13, 2018  9 posts Yaya (iamartist) Apr 07 at 06:59
Dear FX Traders.

I am not much experienced trader and also really not understand at all about Forex. I just did it simply.
From historical trading, please kindly advise if any missing important thing which I might damage my money.


Cheers.
Artist

giving always better than getting
Hardolian

Member Since Dec 28, 2018  10 posts Hardolian Apr 25 at 10:04
Yes, I think it's totally possible, but you really need to set aside some money like AT LEAST few thousands dollars and play with it on real account, I am more than sure you will get some return over time with some experience in doing this. It's all possible.

sublimemarkets

Member Since Sep 19, 2018  26 posts Sublime Markets (sublimemarkets) Apr 25 at 11:59
Hello, The Answer is NO there is no such thing.

1) Even if consider the most riskier investment available which is Venture Capital, the average return is 20 percent per YEAR.
2) there isn't any investment that guarantees a stable return if there is then the returns will be very very low.

People that argue that it possible ether don't know what they talking about or just bluntly lying.

leverage accounts might show 5-10 percent return but this very artificial you can check my account and see it.
but the reality is when you leverage it means that much bigger capital is involved for example:

1) Your account balance is 1000 EUR.
2) let's say you buy one lot EURUSD which means 100 K EUR.
3) you make 1 percent profit which means 1000 EUR.
4) your balance now is 2000 and 100 percent profit.

in reality, you just made 1 percent.

SublimeMarkets on Facebook too
Nasrul_Swing

Member Since Feb 28, 2019  81 posts Nasrul (Nasrul_Swing) Apr 26 at 11:25
High gain, high risk. Sometime, it may blown your account.
Target percent its very difficult. Think about risk first, then profit will come.

#BiarLoss_JanganMC
dWaverFX

Member Since Nov 21, 2011  13 posts SurePath (dWaverFX) Apr 27 at 00:00
I don't think the question is if it possible.
I think the question is are you able to do it?

JacoAF

Member Since Jun 14, 2013  130 posts Jaco Ferreira (JacoAF) Apr 28 at 08:45 (edited Apr 28 at 08:51 )
iamartist posted:
Dear FX Traders.

I am not much experienced trader and also really not understand at all about Forex. I just did it simply.
From historical trading, please kindly advise if any missing important thing which I might damage my money.


Cheers.
Artist


Hello Yaya,

Your question is a tricky one. It is possible to make 5-10% profit on your account balance in a single month, but it is very hard to make an average of 5-10% EACH month for a long period of time.

To explain I will use my own experience. When I started I had big dreams of 'compound interest', 'doubling my account in a year' and gains of 10-20% a month. Because that's what I did with a demo account over a period of 14 months.

Well, I opened my first account and to my horror I could not trade at all. I made so many mistakes, lost one trade after the other by closing it out of fear, because it looks like the market is turning against me. I was so confused, because I could not duplicate my demo trading. In the end I lost my first $1000 account within four days. I was devastated.

After the shock of my first live trading experience, I started looking for a mentor. Someone with experience and knowledge that can explain to me what I was doing wrong. To start with, he told me that there are vast differences between demo trading and live trading. The first and most obvious being the 'human emotion' aspect of it. In demo trading you don't feel the fear, greed, confusion, anger, etc. Simply because it is not real money. Mistakes on a demo account does not affect you.

On a live account these emotions can seriously ruin your trading experience and your account. So the first thing I had to learn was how to manage these emotions. He taught me a set of rules that I should follow to cope with emotions. Things like, 'Accept you will take losses, and manage your Risk (potential loss) by carefully calculating your stop-loss levels and lot sizes so it does not exceed your acceptable Risk percentage (1% per trade in my case). And many more such rules.

This brings me to the second biggest lesson of trading live. Before you EVEN think of formulating a trading strategy and trading rules, you should carefully develop a Money Management (managing winning trades) and Risk Management (managing losses) strategy/rules. This is the ONLY way to ensure that you manage your account properly and can get up tomorrow to trade again. Things like Risk/Reward (Stop-loss/Take Profit), Maximum Risk (calculation of stop-loss distance and lot size) per trade/ and per account. So say for example your will not risk losing more than 1% per trade and 5% in total for all trades. I think you should get the idea of what I am talking about. These are extremely important rules that MUST be in place and be obeyed if you don't want to blow your account in a week or month like I did.

Once you have the above in place you can look at an actual trading strategy and rules for opening, closing and managing trades. I'm not going into detail about trading strategies, as there are too much info to post it all here, but your trading strategy should basically complement your own personality (are you a big risk taker or not), your available trading time - trading a swing strategy on daily charts only require about an hour per day to analyze charts and place trades, whereas a scalping strategy may require several hours in front of the charts.

To summarize, when I started trading (my second account onward) I sometimes made 8-12% one month and lost 15-20% the next month. This is the part that most people don't get. If you for example entered a trade, and for some reason decided NOT to open the trade with a calculated stop loss, and the market turned against you, you could spend a gut-wrenching few days or even weeks trying to wait for the market to turn back in your favor, and in the end close the trade for a bigger loss than you would have if you had a stop loss in place. Now if you lost 10% this month, then you will need to make probably 12-14% the next month just to break even again. You see the cycle that develops...

The most I ever made on my account in a single month was 16%, back in my reckless early years. Now I average between 2-5% per month, and still make a loss some months. My average per year has been about 10-15%.

I should say that I do not spend my whole day in front of my charts. I mostly trade the Daily charts, and sometimes the 4 hour charts.

In closing, my best advice, based on personal experience, is not create expectations in this game. Do your homework, get your carefully developed Trading Plan, Risk/Money Management and Trading Strategy in place, and then treat it like you would proper business or high profile job. You should do fine, and who knows, perhaps you are a young genius who could average 5-10% a month.

Good luck!

Keep it simple, be disciplined, get rich slowly and above all protect your equity!
iamartist

Member Since Nov 13, 2018  9 posts Yaya (iamartist) Apr 28 at 10:58
Nasrul_Swing posted:
High gain, high risk. Sometime, it may blown your account.
Target percent its very difficult. Think about risk first, then profit will come.



The real risk is ' dare not to risk'.
The chane is belong to the brave people.

Cheers.

giving always better than getting
lawblow

Member Since Mar 11, 2018  5 posts lawblow Apr 28 at 11:21
Bigger risk = bigger rewards or bigger losses.

It's possible, but very very very risky. I've blown up several accounts before trying to make 10-30% a day. Had to learn the hard way. Now focusing on risk management and position sizing, and the mental aspect.


Plus Ultra!
Teejy88

Member Since Jun 10, 2017  33 posts Teejy88 Apr 28 at 12:02
It is possible with the right strategy, of course.

ScottyCarsonMVP

Member Since Feb 10, 2019  54 posts ScottyCarsonMVP Apr 29 at 06:19
Possible but extremely unlikely

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