Do you earn 300 pips in 1 month?

[rattamahatta]

Hi,

I'm forex novice and I would like to ask you, if there is somebody, who is making on average for example 300 pips in 1 month for at least 1 year?

Also I would like to know, if somebody makes money only by trading on forex and has no another job. Or if you everybody are just trying to trade next to your job and after some time then give it up.

I don't want to persuate you to tell me your system if you don't want. I just want to now if it is possible to make good money on forex and if I should continue with studiing and trying to develop some suitable system for me.

Thank you very much

Roman
(not native speaker)

[MickMason]

Hi

You might find these threads interesting...

Trading for a living

and

Trading for a living - Part 2

Mick

[TTWSX102]

You can make extreme amounts of money trading but you have to be very careful. It is a business and most businesses fail because of poor money managment.Study the empirical data, don't try to guess what the market is going to do.

[rattamahatta]

Mick, thank you for your tip. I will look.

TTWSX102, can I ask, you think, that it is possible "to make extreme amounts of money " or you know somebody who did it? Or you personally did it?

Thank you guys

Roman

[TTWSX102]

Have you ever heard of the proverb of the servant who asked that his payment be one piece of gold on the 1st square of a chess board and doubled until the board was filled. The king thought it sounded like a good idea and agreed until he was wiped out. You just have to ask yourself: Am I the servant or the king?

[rattamahatta]

No, I didn't hear that, we don't have such a proverb.

What I want to hear, is straightforward answer. Does somebody here consistently make good money on forex?

Just to be sure, when I say good money, I think at least 20% of your capital in 1 month.

Results of poll show, that more than 50% of you are making 300 pips and more in 1 month. When I use leverage 1:10 (i.e. $10 000 my capital, 1 lot - $100 000 per trade), I will earn 30% (i.e. $3 000) in 1 month. Are that money what people with 300 pips and more make?

Thank you everybody

Roman

[dpiatek]

This should go without saying, but don't trust everything you see. The majority of people lose money in the market, especially foreign exchange trading. Some go as far as saying upwards of 95% are unprofitable. Yet these "results" show only 12% are losing money here on this forum. Sorry, but that just makes me laugh (in a sad sort of a way). Anyway, good luck in your trading endeavors. If you stick with it and research extensively, you can be rewarded.

Regards,
David

[TTWSX102]

Unfortunatly there is no straight answer to whether you will make consistent money trading. Most people don't because they don't have the patience to look at the long term goal. I know this is not the specific answer you are looking for...You would like someone to tell you that they are making x amount of pips per week and that would reinforce you own decision to trade or not to trade. It just doesn't happen like that. What works for one person will not work for another. Can you make 300 pips per week? Yes you can and more. Can you lose 300 pips per week? Absoulutely! and much much more. Be very careful about putting a large sum of money into any market you do not confidently understand. I hope this helps you and I hope you have a strong stomach because it will get wrenched at times.