As an expert advisor developer and trader, one of the most frequent questions I receive is: "How much profit will I make per month using your EA?" or "Based on your signal history, I should expect to make xx% profit, right?"
These questions are challenging to answer because there isn't a straightforward response. While I could say "yes," the reality is that I cannot control economic and political factors, nor can I guarantee that forex prices will behave consistently with historical data.
I've learned from experience to stop focusing on how much profit I can make each month. I used to think like this, and it led to a loss of control and significant financial losses. The obsession with calculating monthly profits can become hypnotic, leading traders to increase their deposits in pursuit of imagined gains, only to experience greater risks.
It's important to understand that 99.99% of novice traders approach trading with this mindset, and it's a dangerous one. Forex trading carries high risks, especially with the use of leverage. Leverage is a double-edged sword: it can lead to substantial profits with minimal capital, but it can also wipe out your entire investment.
No one can predict future forex price movements with certainty. Therefore, it's crucial to start with a small balance to minimize potential losses.
In conclusion, forex trading is about maintaining control and managing risk. It requires experience, patience, and time.
