abandoned your edge and youre gambling. If youre reading this article, youre probably fairly new. George Soros, the man who broke the Bank of England is the obvious one. Moving on Do you withdraw or compound your returns? In general, how much money you make will depend on what currencies you trade, what leverage you use, and how much capital you have. So go watch it below: Now, heres my question for you How much do you expect to make from forex trading? These charges add up fast.
There are numerous rags to rich stories which all have one thing in common: they didnt get it right first time. In order to shoot for such a high goal, you will be pressured to take bad trades, overtrade, and overleverage (which brings me to my next point). Because the more they play, the more they make and its the same for trading. They simply learn a new trading method, and demo trade it for a week or two, or worse, they go straight to live trading. Insufficient Testing I cannot stress this point enough. Knowing exactly what your system is capable of, and proving to yourself that your trading system is profitable over months or (preferably) years worth of different market conditions will go a long way in helping you to mechanically trade the edge that your system gives. Forex trading is the, forex market requires the smallest amount of capital of any asset class. But what you dont hear is that for every trader that attempts it, thousands of other traders blow up their account. If youve been trading for a year or two, the truth is that youve probably already traded a few profitable trading systems. Few traders focus enough time and effort on the psychological traits needed to develop the discipline and cold unemotional approach that trading requires.
Because youve got different account size, risk appetite, risk management, trading strategy, and etc. If you do so, its like comparing an apple with an orange (its silly). Thats why Ive written todays post.