In today’s episode we take a look at a commonly asked question.. how much money can you make in forex?
Is it really about how much money can you make, or is focusing on becoming the asset more important when it comes to making money in trading?
We cannot emphasise enough the importance of mindset and processes, and how this ties in to being a profitable trader (see: https://youtu.be/qNZF9KqHUHw).
Join us in this episode as we dive deep into some chart work and key examples. We hope you enjoy!
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In this video I do an update on my Forex trading journey as I’ve now been doing it for one full month. Since the last video I kept on watching more forex beginner videos on the subject and expanding my knowledge. From watching more experienced forex day traders I found a strategy where people trade solely based on the price action graph, disregarding any RSI indicators or other signals. This worked for me for a couple days but I then tried using some new indicators and ended up losing money. In the end it kind of felt like gambling but with a slight edge where the odds are little bit more in your favor. This video is not day trading advice, it is strictly for entertainment purposes only. Video Rating: / 5
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DISCLAIMER: I am not a financial adviser. The videos on my channel are for educational and entertainment purposes only. I’m just showing you guys how I invest and day trade, but remember, investing of any kind involves risk. Your investments are solely your responsibility and not mine. While day trading can bring serious gains, it can also bring serious losses! So make sure you do your own research to fully understand the market before diving in. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that you can’t afford to lose. The fluctuation of the market can work for you or against you. You should carefully consider your investment objectives and experience before deciding to trade in the market. Again, what you invest in is solely your responsibility. Video Rating: / 5
how much money do you need to start trading forex?
how much do I need to start trading forex?
money required to start forex.
what is the starting investment needs in forex?
There is one big and common misconception among individuals that forex trading requires traders to have big capital and only traders with big accounts can make money in forex. money required to start forex is not like you need to spend big amount.
how much money do you need to start forex trading. The answer of this question is you need to select money to invest based on trading style.
0:00 – Intro
0:36 – Myth #1
1:58 – Myth #2
3:30 – How much money do you need to start forex trading
4:17 – Money to Invest Based on Trading Style
If you have still question that How much money does one need to start forex trading then here I am giving you a brief on best amount to start forex trading.
Well, Is this really true or is it just a misconception?
Myth no.1 – you need big money to make money in forex.
Well, I started trading with 0 then lost that account and then invested ,000, and then lost this account too.
So, I have traded a small 2 figure account and even a 6/7 figure account, and trust me when I say this, you don’t require huge capital to earn money in forex.
And I decide the money need to start forex because know one to guide me on how much money need to start forex.
Recently, I converted my 0 account into 00 and I have done this many times in the past.
So, if you think you need a big trading account to make money in forex, have a look at these screenshots.
Myth no. 2 – Only big players make money in forex?
how much amount we can spend on forex at start, never required the big amount. starting amount spend on forex is very less. You can decide by yourself the starting budget of forex. Depends on your pocket, you can decide best amount to start forex trading. how much money do you need to start forex trading
Big institutional traders do have an advantage in forex but that doesn’t mean they will always win.
Both the institutional and small traders have equal opportunities in the forex market.
Yes, big traders may make more money than small traders but then even the losses will be big.
Small capital or big capital, the risk taken is the same. It is a common risk management method of not risking more than 1% of the total capital at any given time on any given trade.
What we want to infer from this is that traders must not get discouraged after they hear that they cannot make it big in forex if they start with less capital.
Traders that look to trading as a get rich quick scheme will never be able to succeed in it, as they will never be able to manage risk properly according to their expectations.
For instance, a trader with a capital of 0 will risk per trade, while a trader with a capital of ,000 will risk 0 per trade. The risk taken by both traders is the same in relation to the capital at their disposal. Their profits will also vary as their risk taken varies. The former will profit way less than what the latter will profit considered their analysis works.
So,
How much money does one need to start forex trading?
The answer to that is,
One can start forex trading with as low as .
But then it all depends upon the leverage one is using and the risk he/she is willing to take per trade.
If someone with leverage of 10x is willing to open an account with .
It won’t work as he won’t be able to open a trade with an account that low.
If someone with leverage of 100x is willing to open an account with .
It will work, he will be able to open trade but the problem this time will be that he will have to risk more than 1% of the account per trade.
The next thing you have to look after is the type of trading style.
If you are into scalping, the risk per trade will be low and so you can use a small trading account.
But then if you are into swing trading the stop loss or the risk per trade will be higher and so you will need a little big trading account.
So, a 0 account will be good to start with if you are into scalping or day trading and you may need to start with at least 0 if you are into swing trading.
I guess now you know how much money one needs to start forex trading. So decide what is the starting investment needs in forex by yourself.
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Two hundred percent returns in a week with just a 0 investment!
Ahh, the age old cry of the Forex scammer or self-proclaimed “account manager.” If you’ve been looking to add forex investments to your portfolio, there’s little doubt that you’ve heard this all before. The brilliant new “A.I.” backed trading bot, the incredible trader with a 90%+ win ratio, all with guaranteed returns and payouts whenever you want them! The gall of some of these claims is truly astounding, but the reality is that a huge number of new investors fall victim to these scams, simply due to a lack of knowledge.
Today I’m going to take a dive into the seemingly endless sea of Forex scams, and help you identify the red flags so you can avoid the pitfalls of this typical Ponzi scheme.
The first thing to remember when looking into any investment program is what’s behind the scenes: a market driven by humans trading against each other. That point alone can save you from many of the mistakes new investors make. Even the best traders in the world are still just human, and the simple fact is, nobody wins all the time!
A truly effective trader profits by sticking to a stringent, risk adjusted strategy, not a seemingly magical never ending win streak. Undoubtedly, the most common pitch is that of a trader with some obscenely high win ratio (even 75% is unbelievably high for a time tested trader).
The reality here is that most traders make their money by learning to cut their losses early and letting their profits run. I’ve seen highly successful traders with a 50/50 win ratio because they stuck to a strategy that limited their drawdowns and trailed stops upward to carefully protect profits. However, .I have NEVER EVER seen a trader profit by just winning ALL the time! It simply doesn’t happen, end of story!
The other common scam we see floating around all the time in the Forex space is that of the “miracle bot.” This is supposed to be some type of computer automated system, possibly boasting A.I. (artificial intelligence) or machine learning (ML), that uses its infinite computerized knowledge to outtrade humans on a daily basis. These FX scams might seem a little more believable to the unwary investor at times because there are actual automated systems out there that are used by professional traders to buy and sell. The key difference with those bots (versus the traditional ones scammers claim to possess) is that like humans, they never win all the time. They also have to be tuned or tweaked often by the trader behind it to fit the market conditions in order to remain profitable.
Once again, the easiest way to pick out these FX investment scams falls back on the degree of greed of people pushing them. These fairytale “traders” always seem to boast of endless win streaks and endless profits….all guaranteed of course. Remember that they have all the secrets! LOL.
During the video, I show you multiple examples of these magical scammy investments. They’re actually pretty funny. I also do the math for you. The reality is that if it was possible to generate such consistent profits on a daily basis from Forex or any market, by the end of the year an investment would add up to more money than what’s available on the entire planet! Yes, these investments are mathematically impossible. And even if they were possible, why would anyone need your measly 0 or ,000? To charge you a commission? They wouldn’t need it. They could simple focus their magical powers on growing their own accounts! Think about it!
In the end, what is the biggest tool to help you avoid investing in a scam forex program? Simply this: remembering that nothing in this world is guaranteed, and that goes for trading too!
Oh, and if they throw in the phrase “binary options” anywhere to sweeten their magical deal, it’s a dead giveaway. Sprint as fast as you can for the exit!
