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Your Home Forex Trading

How much money exactly can I really make forex trading? Well, this is that question which I’m quite often asked. Besides, after answering this one, the following question usually is: how much money can I make realistically? In fact, the only answer to this question is just the same as the first one. And so my only answer to these questions is: definitely more than you are actually earning at present! Thus I certainly agree that it would obviously be default to say that if this question was asked by Warren Buffet or Bill Gates, for example. In addition, allow me to quantify that earning a six figure income is really achievable, no matter what kind of foreign currency you utilize.

But how can these claims be made? For sure, my explanation is in order, so that you are going to understand the true potential of the modern forex market.

And first and foremost, allow me to quote one person who is much more intelligent than me. This person is Albert Einstein. Well, he actually said: “the most powerful and strong force in our universe is definitely compound interest.”

Of course, to start with, it is necessary for us to take a look at the actual size of the forex trading account (referred to as your bank as well) with the forex broker that you utilize. Thus whatever the size of this bank is, the forex trader should never trade more than only five per cent of the bank. Besides, over time a very successful forex trader is going to trade at one percent of the bank or even less.

Without any doubt, on the first day of your trading you actually make a profit based on that trading strategy which you utilize. And then the amount is added to your bank. Moreover, the next day you are going to gain five per cent of your bank. And only at the moment your bank has grown slowly and same again on your third day, however, your bank is slightly bigger. Of course, you certainly add to your bank each day and thus each day your five per cent becomes even larger. But now let’s add monetary value to that.

In fact, the main question to ask is how much exactly that is in real terms. For sure, that trading strategy which I personally follow actually requires me to make six pips per day. Well, this is going to increase by the bank by one per cent. Of course, this in itself is not so bad and it is also very achievable. And thus if you really made one per cent a day and after one month, we are going to get twenty per cent growth a month.

Before you make up your mind to make a forex investment or start forex trading yourself, better find a nice forex book and learn more about the currency exchange market – this will save you from tons of troubles and traps.


One Response to “Your Home Forex Trading”

  1. When the Parabolic Stop and Reverse is correct this pattern can bring you larger profits than setting your exit point at a set distance from the existing cost. This isn't a tool utilised by scalpers.

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