Question by : How much does a Forex Trader make? I started a Demo Account of $ 100 000, live charts. I started trading and it's been 3 week since I've started. My balance is now $ 249 467, that's a $ 149 467 increase in profits! Now I made at least a 100 deals, I can say that I have lost an amount of the money a couple of times, but 90% of the time I take care of my losses and make profits. I've read a few books about trading, and also I keep an eye on the market news, everyday. This is my second demo account, last account did not work so well, my profits weren't this much. I always trade with crude oil and gold on the us currency. I know how to trade and how most of it works so please remember that the $ 149 467 wasn't all luck, I actually putted a lot of effort into it to see if I know how to trade, obviously it's not impossible what I did anyone can do it if they put in the effort to learn how it works. I know it's just a demo account, but it was live charts, hard work and I traded like it was my own money, I have complete trust that I have made the profit because of good decisions. I want to know from traders who have used forex, how much do you make? I've made $ 149 467, with more than 100 deals, I think I did better than average, do you think I traded well? Best answer for How much does a Forex Trader make?:
Answer by Auntie Mame
Almost all Forex Traders loose money. Often times demo accounts are feed fake data to sucker people in. Try this, create a real account under a different name. Pull up the demo account and the real one in two different computers. Make the same trades on both. Notice how the demo account makes money while the real one looses money even if you click the mouse on both computers at the exact same time.
Answer by Common Sense
If you continue at this rate (on an annualized basis) you are simply the best trader in the entire world. It's great that you can do this with "live" data....... however no demo reflects liquidity and the actions of other traders when you buy or sell. This is a significant point. The shorter your holding periods, the less accurate your results are. Three weeks in "traders" time is nothing. So the real proof of the pudding is; A. Doing this with a real account. B. Doing this year over year for 3-5 years (based on your numbers you'll be a multibillionaire and in 20 years you'll own the entire planet). You're averaging 50% a week. That's 2500% a year. If you start with $ 10,000 you'll have 25 million dollars in your first year. 62 Billion in your 2nd year. Can I have your autograph?
Answer by MrTradewell
You can see my resume and some of my personal earnings records over 32 years here:http://chartfactors.org/viewtopic.php?f=5&t=14#p14
Answer by effie
There a lot of people win big when they "play" demo game Because there are no risk associated with it, people can make whatever trade they can. However in real life most people won't make suck risky trade it is defiantly possible to earn 20% or more a month. Of course, you can lose just as much. From what I know a good trader can usually win 70% of their trades, and the percentage a month depends on their trading style, and how much leverage they are using.
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Many professional and amateur traders consider live currency trading charts the most essential tools of their systems. Some of them will tell you that once you are able to master the live charting techniques, then you will be able to accurately predict how the price of one currency pair will evolve. The truth is that even if live Forex charts are some great tools you can take advantage of, you will need more than these if you want to become a profitable trader on the long run.
One essential thing everybody should know about charting information is that this is one of the many factors that can help make a well-versed guess on the progress of the price. However, there is a lot to learn about these charting patterns. The most common concepts you have to master are the double and triple bottoms, triangles, and head and shoulders. As interpreting these formations is a very subjective process, you cannot rely too much on them when making important trading decisions.
If you have already taken a few Forex courses, you have definitely learned what actions are suggested when you recognize a particular chart pattern. You may have noticed however, there can be different recommended actions on the exact same pattern. The point is that you cannot rely on charting patterns that require the trader's interpretation. You should avoid making any decisions based on this type of hints, as they will not generally help you to become a very proficient trader.There are not many people who can use live currency trading charts and a couple of indicators to make profit. Most of us have to choose another way to go, especially those people who prefer a black and white method to make money with currency or stock trading.
Live charts have their place, as they help us determine the trends of certain currency pairs. Even this is not something complicated, it is probably the most important indication you can get off using charts. For short term traders, charts are very effective when buying and selling with the trend. Trading against them is never indicated.Weekly charts for example are very helpful to determine whether the trend of a currency pair is going up or down. After you determine the trend, you can look to see if one pair is trending in the exact same direction on the hourly chart, which usually indicates a safe trade.
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