How Long Does It Take to make $5000/Mo consistent profit? - Page 2
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Thread: How Long Does It Take to make $5000/Mo consistent profit?

  1. #11
    Quote Originally Posted by ;
    Hi Guys, I'm a newbiew in Forex but am very comitted to master trading, so I don't mind spend 70 hours/week or longer to master Forex trading. Actually I really don't see learning Forex as working ,it is fun for me as well as enjoyable. A little about me I am a small business owner. I dropped a lot of cash and a house in mutual fund and stock trading in 2008. I had been completely devastated because of this. This occurence has induced me to be an extremely risk averse person. Missing a lot of cash because : - Over optimism - I used cash I can't afford to lose Emotional...
    Hi few thoughts.
    1st forget advise from those that are not creating money!Forget systems! Any system!Develop style of trading.Systems tend to be rigid and un-flexable into adapt.With news coming up more or less every day stiff systems just simply create more losers.
    To give you credibility I'll post my results last 3months because my mt4 does not go farther back.Since 2013 I consistently make 8-10% a month trading.
    To make money in Currency Market isn't hard!Yes you heard it NOT hard!What is hard is growing PATIENCE!
    Please read this informative article
    http://www.learntotradethemarket.com...-forex-trading
    Think of surfers.What do they do all day?They wait for good wave right?They don't waste time chasing every tiny ripple of water correct?So intuitively surfers understand that energy is simply not there to carry his body.
    However they're trigger happy traders doing exactly that pursuing every tiny market sound scalper
    Just trade more time frame H4,daily and weekly charts.To me anything less is not as cash and not worth stressing over.

    I'll share with you more but 1st please read
    bird watching in Lion nation and trading in the zone
    to reply to your question Yes you can make 5k a month on 50k account yet easier to make 5k on 80k account till you get far better.
    Before you risk real cash open mini account such as 2k and trade 10c 20c for practice.Avoid Demo because you will not learn about trading plogy at which 70-90% of gains and losses occur.
    Will last afterwards determined by you.

  2. #12
    Quote Originally Posted by ;
    OO.. I predict this thread will probably have 4 pages of opinions and most importantly from the 95 percent by Saturday

  3. #13
    Question: How do you know it's an established system? Or you simply assume it is profitable?

    It consistently amazes me how folks throw their cash onto systems that have NEVER really been analyzed. And no, just because it is posted onforexsoutheast.asiaand has a gazillion of followers, doesn't make it any more profitable.

    Quote Originally Posted by ;
    Hello Guys, I'm a newbiew in Forex but'm quite comitted to master trading, I do not mind spend 70 hours/week or more to master Forex trading. In reality I don't see learning Forex as working ,it is fun for me as well as enjoyable. A little about me I am a small business owner. I dropped a lot of cash and a house in mutual fund and stock trading in 2008. I was completely devastated due to this. This occurence has caused me to be a very risk averse individual. Missing a lot of cash because : - Over confidence - I used cash I can't afford to lose - Emotional...

  4. #14
    IMO it is possible to create that sort of money on a monthly basis, however you cant pick a egy from a forum and expect to have the same results however hard you try, trading styles need to fit the person.

  5. #15
    ok. . .to cut to the chase....uhmmm....probably NEVER.That's the fact ...I can state it with 98% certainty.

  6. #16

  7. #17
    You are kidding right? A really good trader can produce a lot more than just $5000/mo and also the key, you need to be good at it.
    As the others had indied, begin with a nano account and shred, review, wash, repeat. .

  8. #18
    Quote Originally Posted by ;
    Hi Guys, I am a newbiew in Forex but am quite comitted to master trading, I don't mind spend 70 hours/week or more to master Forex trading. Actually I really don't see learning Forex as functioning ,it's fun for me and enjoyable. A little about me : I am a small business owner. I lost a lot of cash and a house in mutual fund and stock trading in 2008. I had been totally devastated because of this. This occurence has induced me to be an extremely risk averse individual. Lost a lot of cash since : - Over confidence - I used cash which I can't afford to lose Emotional...
    Simply put money on your trading account you don't mind loosing everything. Never place any savings. If you can't do that, you'll be in constant fear whilst trading.

    Be ready to lose all of it. Just imagine that. Close your eyes and think it all through. It might, although I might not happen.

    Additionally, only 10 percent or even less of traders are profitable. So imagine. Be prepared to have your account blown away a couple of times. Don't think about earning 5k / month. Make sure that you are profitable first on a demo account. Not after 10 trades. But after 1000's if not 10000's of transactions. So let's sink.

    Good luck. You may be in the circle of the 10%.

  9. #19
    You plese not concentrate on the quantity of money, but concentrate on the quantity of profit in percent from your deposit

  10. #20
    Quote Originally Posted by ;
    I dropped a lot of cash and a home in mutual fund and stock trading in 2008. I had been completely devastated due to this. This occurence has caused me to become a very risk averse individual. Lost a lot of cash because : - Over confidence - I used cash I can't afford to lose Emotional variables - Cash management - Noob ability in trading. - Other classic noob mistakes Lessons heard , it is a lesson that I won't ever forget for life since the experience was so painful, The urge to be a full time, profitable trader never entirely ceased though. I.. .
    At a simple, honest statement - I'm very concerned about what you're doing. This is due to the fact that a few of the statements you've made are highly contradictory.

    Risk averse? You are NOT showing signs of being risk averse. For somebody who dropped a lot of cash and a home previously because of trading problems, I would have thought you would be much more concerned about putting yourself in the same scenario again.

    Lesson learned for life? - Once again, I suspect not, as you're currently considering getting rid of a business, residing on 2/3 all of the capital you have and just 'trusting' you will be able to get the trading side of things working for you to be profitable.

    Please, critically review your plogical condition regarding trading, this egy and what the statement 'risk averse' really means. :-/

    ---------------------

    No matter if you were hoping to try it, I would really think you should keep the business and exchange part-time/evenings with a demo account (for at least a few weeks) and then proceed to a little account (because actual is quite different from demo). Use a nominal amount and see if you can be consistently earning something like 1-2% per week (4-8 percent per month). If it can be (consistently), then excellent! That will make it simpler. But I'm assuming you will be making decent profits but taking losses as well, therefore, assuming a reasonable yield.

    If you really can attain this in your trading, then you will find is that with the 45k (the amount you were planning on trading with after studying trading and residing on the opposite 80k), you will only have profits of 1800-3600 monthly (4-8%). Not enough. (NOTE: Do not assume you can just 'exchange more' to form the gap, as the assumption is that this is the best it's possible to achieve consistently.)

    On the flip side, if you could utilize the 125k as funding, the yield might be 5k-10k (4-8%).

    So, if it is possible to keep your own 125k put aside and keep your job, you can learn whether you're prepared to exchange or realise you are NOT prepared to exchange and consequently still have your earnings and savings in place. If you're prepared to exchange, then outstanding, proceed. The best bit? You can even do this part-time, as you've already proven you understand how to get it done this way, so having income from the job AND from the invested capital ( not all of the 125k).


    Finally, the real answer to your question is something only you can answer, together with patience, time and focus on learning how to trade regularly. But I have managed to throw some numbers about which might help to find you will struggle with your current egy (and mindset).

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