How Much do Forex Traders Make a Day?
When considering the strategy of Forex trading is highly interesting to discuss, due to the possibility to make money using it. But many are doubtful and curious on how much do forex traders make a day. The answer is not simple, because there are several factors to determine this.
To make a living of Forex trading, you just have to accomplish one simple task. Be consistent! Most of the profitable traders started small with Cent accounts and as they got a steady level of being profitable, they had gathered enough risk capital to make a fortune out of it.
As soon as you make 10 to 50 pips every week, you can make a living out of trading with the comfort of your home. As you are collecting pips your trading account will grow and grow. So your lot-size will and your earnings in the currency will follow! Another very important point is risk-management. Limit risks and losses will save you from being crushed!
Let’s have a look at the currency value of a pip, to understand what I mean getting consistent:
What is the Forex market and what are their engagements?
Nowadays with the advancement of current technology, human beings have become very smart. Most are engaged in trading foreign currencies on the market of exchange, which simply called as Forex market. The utmost reason is that to engage in the Forex market you need a minimum amount of investment when starting.
Can I able to earn a lot?
You may have heard that some are earning millions through Forex. Apparently, you may be a fresh person to Forex, or you may be willing to engage in Forex. If so, the main curiosity which your mind is struggling is no other than the amount of money you can make. But the harsh truth is you cannot compare yourself with their status, because it is subjected to one’s account size, risk appetite, trading strategy, risk management and etc.
So, your trading strategy is 35%, and then you return 35 cents for every dollar trading over a long term trade.
You may have heard that some traders have started in minimum accounts and grew it into millions in a short period of time. But the unveiled truth is, for every trader who tries this; many of others blow up their trading accounts. So, hope you got an idea how much do forex traders make a day.