How Much Can I Make as a Forex Trader?

One of the first questions that a new trader will ask before he jumps into the market is “how much can I make as a Forex trader?”. This is definitely a justified question – after all, you aren’t risking your money for fun, are you?

Just because it is a justified question, however, doesn’t necessarily mean that it is easy to answer. In fact, the question of how much you can make is perhaps the most difficult question in regards to forex trading – let’s take a look at why.

Why Is It so Difficult to Answer?

The question is so difficult to answer because of the diversity surrounding the forex market, there is no one-way to trade; everyone has a different trading style and different techniques so this means that nobody will make the same amount of money.

For example, if you are using high leverage then you can make a lot of profit – in some instances, you can double or even triple your money with just one trade. However, there are also many people who look for high-probability set-ups and thus don’t make as much, but the risk is lower.

How Much Can You Expect to Make?

The amount that you can make really comes down to you as an individual, there is no one-size-fits-all answer as those who are more experienced and understand the markets better will be able to make a lot more money. You should also take your trading style into consideration, if you practice proper risk management techniques then you should see consistent gains over time. The best thing to do is look for consistency, not the big payout.

When you are thinking about how much you can make, it would behoove you to not think about how much you can make in a set currency amount – instead, think of it more in terms of percentages. A good number to aim for is around 2% per week, so if your account balance is £500 at the beginning of the week, then you should be aiming to make at least £10 profit by the end of the week.

As you are just starting out, the question of how much you could make is definitely going to be a prominent one. You should understand that your earning potential is pretty much only limited by your capital and your imagination – however, as a new trader, you should be more concerned about gaining more experience as this will correlate with more profit.

Increasing Your Profits

If you want to increase your profits and make the most amount of money possible to you, then it would behoove you to take some extra measures. First and foremost, you should practice proper risk management, this will help you keep the profits that you have made instead of losing money later on – as a general rule of thumb you should only risk 2% maximum per trade. However, this percentage will vary depending on your trading style.

Even though leverage might seem to be advantageous, it can also harm your account in a huge way. You want to use leverage smart – remember not to overdo it and step outside your comfort zone simply because this will result in you making less logical decisions. In short, utilize leverage, but understand that your losses will be increased as well as your profits.

Are there reliable Forex Strategies that work?

Absolutely YES! Forex experts over the years have worked hard to produce various trading strategies. For their hard work, you will have to pay them to give you access to their working strategies. You will never find a free trading strategy out there. So if you are willing and ready to convert your investment in a pile of profits, then you should be ready to pay for one or two working strategies. Apply these strategies and watch your investment grow. Below are a list of Forex Trading Strategy and Signal Providers