Every trader can assume to make profit from currency exchanges. Such as: What is the best policy in earning profit: a trader must try to get profit as per his trading abilities. For instance: if you are a scalper then daily some trades can help you to earn profit. But if you are a long term trader then profit margin will be higher as long term trading approaches can ensure increasing profit.
I just reviewed the portfolio of CrazyTrader and he has some accounts with an impressive profit, like Trading Against The Crowd (Live course) and some W pattern USDJPY and USDCHF. Very nice EURUSD weekly chart too. My congrats!
Regarding long term or short term scalpers strategies, I am not an expert so I can not recommend one above the other. But for what I have been reading from other traders, if by scalping you can earn a 100% profit, lock in your profit, cash you money and keep winning... I would say it will not hurt you loosing one account if before that you doubled your balance a couple times before and kept your gain safe.
I rather trade on a long term basis with a small DD, but I wouldn't say other strategies are not profitable.
Yes it is possible. Just write down how much profit you should make per day so that the total profit per month is 10-15% Well, it depends on the deposit. With a large deposit you can earn faster. But you need to be very careful.
I’d say it’s high risk. I tend to make 2% on normal account and 4-5% on my riskier account. It is achievable to hit 5_10% but see it as unlikely to be consistent, city traders can hit mad numbers but they have capital, rumour mill, influence, etc...
Yes, it is possible, but the odds are against you. Consider this: If you can gain 5%, you can also lose 5% - which you need a 10% gain to recover. If you can gain 10%, you can also lose 10% - which you need a 20% gain to recover.
Positive variance (gain) = negative variance (loss), so stacking odds in your favour is very important when trading. And since losses are harder to recover (as explained above), majority of traders lose money.
sevans4262 posted: My team and i consistently make 5% to 10% every week. Its definitely possible.
Market conditions change, countries go to war, currency values can drop to 0.00, many, many, many, MANY things could happen.
It isn't possible to guarantee 5% to 10% every week in perpetuity.
Eventually the statistical probability of loss is going to occur. It might not be often, but it's a realistic possibility.
It's like a coin flip. Most people think the only viable choices are 'Heads' or 'Tails', but there are additional choices as well.
Even if you have one of those coins that has Heads printed on both sides (magicians trick coin), eventually it's going to land on it's edge.
It's most certainly a rarity that it would happen, but it does happen.
Excellently summarized by @Professional4X. I would just translate the above metaphor of the imaginary coin landing on its edge to the more commonly used 'black swan' phenomena manifesting as occasional flash crashes when even hard stop losses can be totally useless and the actual losses can be much larger than the total funds sitting on the account. In other words: with leveraged accounts traders have to accept the looming risk of the total loss of the account whenever a trade is open; by another metaphor the 'Sword of Damocles' hanging over each and every trade.
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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.
stay away fromdeposit boonus brokers is a good start. and risk management is key. stick to your plans and your trading strategies. if unsure, go back to demo before trying new ideas