Forex gurus, is it really possible to earn profit daily in forex? many of my business friends invested huge amount of money , but very often they failed to earn a single $. it is very risky market and risky to invest
is it possible to earn daily profit in ForEx?
- Thread starter SamForexTrader
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It is risky and it is better not to aim to earn daily profits here. Even yearly drawdowns are possible.
I have to slightly disagree on the risky comment. Any trader who records a quarterly loss or an annual loss is in the wrong place. Forex markets as well as any financial markets are risk free, but the lack of knowledge by individual market participants make them risky for them.
So the answer to your question really depends on how good you are. Daily profits are a bit challenging at times, but there is no reason not to record weekly profits. Any somewhat decent trader will be able to accomplish that.
In case you are new to the forex world then you may see your annual loss as Enivid mentioned.
I do not want to disappoint you, but even the best (to my judgement) traders sometimes post annual losses. Are they in the "wrong place" trading Forex? No way! As the profitable years make up for those losses completely.
Not believing that you can record a losing year is just a case of probability blindness. Of course, it is not impossible to avoid yearly losses during 20-30 years, it is just improbable.
No one's going to win all the time, so yes, would have to agree with enivid. And as regards the original query - the market, like every other market, carries its own risk. So yes, in order to make money in this market, you need to do the grunt work..
It's really possible to get daily profit from forex. Many traders has done it, what is impossible to win all transactions in trading. If we got daily profit, we didn't need to win all transaction but we must make sure that our winning ratio will be higher than losing ratio 
If we could win 6 from 10 transactions with same lot size off course and same loss profits ratio, so we still profit one transactions for overall right?
Do you agree with me?
If we could win 6 from 10 transactions with same lot size off course and same loss profits ratio, so we still profit one transactions for overall right?Do you agree with me?
Again, it all comes down to how good a trader you are, the leverage you use and risk..so yes, there are a lot of factors involved. And given your initial post, would suggest that you concentrate on learning more about the market rather than a fixed profit target for daily trading..just a suggestion.
Huge amount of money?What does exactly that mean?
Yes,it is possible.It depends on your goal.If you invest a huge amount of money,for example,and have a very conservative goal and a specific time frame within to reach it,how can you possibly not earn a single $?
Never base your future on the actions of others! Too many unknown variables. Set your own mind to learn Forex and keep it simple. Enjoy it. Have fun with it. You can't help but make money. However, focus on just the money and you may never see it.
To specifically answer your question, I normally trade 1.0 lots. I'm in a Silver trade at the moment that I started at 8:30 am. It's now 1:30 pm and the trade is at $1,550.00 profit. That should answer your question. Check the thread "Let's Talk About SILVER."
Any strategy you use in the FOREX must be scalable. If you use smaller time frame up to 15MIN, you must hit profit target everyday. If you use 1HR and above you must hit profit target every week
Actually your question of "Can profit be made everyday" is too generic. It is like asking can life be lived with growth and prosperity. The question has to be specific like:
"If I want to make daily profit in XXX Forex Counter by Trading, how much can I reasonably expect"
When we engage in the physical world it imposes a limitation. In my mind I can lift mount Everest using my little finger alone. But in physical world I can't bench press more than 30KG.So the question with FOREX is within the limitation imposed by FOREX, how much can I scoop out provided I have no limitation on my part
EURUSD minimum fluctuate 50PIP everyday. That is the limitation imposed by the market. So theoretically you can profit minimum 50PIP a day. However you have a limitation on your part, which is "you have to predict the direction correctly"
In order to predict something you have to use your intelligence. But the nature of intelligence is it requires data in order to process and come out with the common denominator. The more data you have the more precise your understanding will be. Whether that understanding is close to the reality is another question
The reality (a.k.a the truth) exist whether you acknowledge, believe or deny. The game is do you want to know about reality or do you want to make money in Forex?
I have done close to 8,000 trades in the past 5 years and my current understanding of the market is too ridiculous to write in this open forum. You google FMSMTrader if you want to know more. In FOREX my goal is to make money and not to worry how FOREX market works. Because I will never know for sure whether I understood the market correctly or not. If you know how the Forex Market works you must definitely make money. However the opposite need not be necessary. That is you can make money and still completely misunderstood the market. That is very much possible
In the ancient days people thought sun revolves around earth. But that doesn't stop them from predicting solar and lunar eclipses and timings of sun rise and set. So I learnt the lesson that you start with only what is beneficial to you and then slowly the big picture will come to you
Actually your question of "Can profit be made everyday" is too generic. It is like asking can life be lived with growth and prosperity. The question has to be specific like:
"If I want to make daily profit in XXX Forex Counter by Trading, how much can I reasonably expect"
When we engage in the physical world it imposes a limitation. In my mind I can lift mount Everest using my little finger alone. But in physical world I can't bench press more than 30KG.So the question with FOREX is within the limitation imposed by FOREX, how much can I scoop out provided I have no limitation on my part
EURUSD minimum fluctuate 50PIP everyday. That is the limitation imposed by the market. So theoretically you can profit minimum 50PIP a day. However you have a limitation on your part, which is "you have to predict the direction correctly"
In order to predict something you have to use your intelligence. But the nature of intelligence is it requires data in order to process and come out with the common denominator. The more data you have the more precise your understanding will be. Whether that understanding is close to the reality is another question
The reality (a.k.a the truth) exist whether you acknowledge, believe or deny. The game is do you want to know about reality or do you want to make money in Forex?
I have done close to 8,000 trades in the past 5 years and my current understanding of the market is too ridiculous to write in this open forum. You google FMSMTrader if you want to know more. In FOREX my goal is to make money and not to worry how FOREX market works. Because I will never know for sure whether I understood the market correctly or not. If you know how the Forex Market works you must definitely make money. However the opposite need not be necessary. That is you can make money and still completely misunderstood the market. That is very much possible
In the ancient days people thought sun revolves around earth. But that doesn't stop them from predicting solar and lunar eclipses and timings of sun rise and set. So I learnt the lesson that you start with only what is beneficial to you and then slowly the big picture will come to you
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Everything is possible.
In this case, if you have a good strategy and determine to trade everyday for the profit, you will truly do that.
In this case, if you have a good strategy and determine to trade everyday for the profit, you will truly do that.
Forex is not easy for beginners.I faced much struggle when I was beginner. I have faced margin call more than 5 times and every month. But with passing time in forex and with experience we can reduce our loss and also can make consistent profit. To gather free experience of trading the importance of demo trading can't be neglected. We should practice in demo as much time as possible specially when we are in beginner level.
I agree, in terms of learning how to trade rather than just wanting to make more quick. A lot of people think that FX is a great way to sit at home make money and completely change your lifestyle and it is, however only for those who are profitable and they do this because they hone their skills and craft.
trading is not a get rich quick scheme, believe many people make considerable profits when they start but because of greed, or what ever it is they lose it.
Hell I heard of a lady who invested an initial deposit of 10k at leverages of 1:500 (ridiculous leverage) and she basically gambled it and made some lucky transactions and somehow (please don’t ask me how I heard it from a friend who used to work for a fx training company) made near a million pounds. She pretty much bet her entire balance almost every time and she lost all of it.
Hone your craft, learn about forex, yes you can make a living out of it, but many don’t because they are more interested in the money aspect of it than they actually enjoy trading forex.
"If your only goal is to become rich, you will never achieve it." John D. Rockefeller
trading is not a get rich quick scheme, believe many people make considerable profits when they start but because of greed, or what ever it is they lose it.
Hell I heard of a lady who invested an initial deposit of 10k at leverages of 1:500 (ridiculous leverage) and she basically gambled it and made some lucky transactions and somehow (please don’t ask me how I heard it from a friend who used to work for a fx training company) made near a million pounds. She pretty much bet her entire balance almost every time and she lost all of it.
Hone your craft, learn about forex, yes you can make a living out of it, but many don’t because they are more interested in the money aspect of it than they actually enjoy trading forex.
"If your only goal is to become rich, you will never achieve it." John D. Rockefeller
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