Is it possible to make over $50,000 or more monthly? - page 3
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This may sound alot of money but like what the question says. Is this possible even for an experience trader? Reason I ask this is because as many of you know many brokers come and go and if there is a handful of experience traders the brokers would be out of money and cannot pay new clients. Is this correct?
Or big companies (not to mention it here) Could they pay these experience clients that much money? Your experience opinion is needed.
Thanks
Yes, of course. You need a profitable strategy with Money management which is the key to success.
Did anyone notice how few people here mention percentages? Rather almost everyone is talking about income. This shows a total lack of understanding of basic investing. Its 100% about one thing: Return on investment. This is not a job. There is no income unless you count dividends which are pitiful most of the time. Its investing. You take your money and invest it. The whole premise of this question shows a lack of understanding. But the principle of this question is insightful. Jack is right about Forex traders. If its so great, where are the stars? We have many stars of stock trading yet almost none with Forex. Why is that? This should make Forex traders precede exceedingly cautiously. Another warning: It seems like almost all Forex traders are young, often under 35. Could it be they burn out or blaze out when the market goes against their "technical" knowledge? Any idiot can profit in a rising market. Only the lucky or cautious retain their money in a declining market. Only since there are many declining markets you better be ready for them. When you analyze investing it really is about being in the market as much as possible so you enjoy your investments rising and selling as fast as possible when they decline. Its really all about positioning yourself when to sell (and buy lower of course). Most people have a real problem letting go of an investment when it declines and this is always their biggest downfall. Its not your girlfriend. Let it go.
When people starting talking about making 10% a month just laugh. Sure there will be many months where you can make 10% or more. But if so you're in a volatile investment and can lose the same easily. These young fools are highly leveraged and as soon as the market tanks they get wiped out, often in a day. Before that they're king of the hill, master of their domain. The next they are broke and homeless. If someone was REALLY making 10% a month and started out with just $10,000 (probably more than most near broke highly marginalized Forex traders!) they would have:
10,000 to start.
31,384 in 1 year
3,044,816 in 5 years
927,090,688 in 10 years
85,949,714,410,692 in 20 years
Now we all know there are MANY people that have been investing for more than 20 years. How many do you know that have socked away 85 billion? Soros made most of his money on one lucky transaction. NOBODY does this consistently. Laugh at 10%/month returns. They are never consistent. If they were we'd have a LOT of billionaire Forex traders. Instead we have a handful and even they probably make most of their money on more dependable investments.
There are many good and rich currency traders. Why we dont know about them? Because they can not offer their services to poor people. Once U start making $500 000.00 a year they will find U.
There is no better place to make money than Forex. It is safe and easy and if U have time U will have money. Using leverage more than 3:1 it is just wild. GL