FX Investing

Can I make 6 figures trading forex?

Absolutely, you can definitely hit and even exceed the $100,000 mark with this incredible market. Making 6 figures is definitely possible if you trade with your brain (objectivity) instead of your heart (subjectivity)!

Lets break this down and see how we could theoretically achieve a 6 figure income out of the forex:

  • $100,000 = $8,300/mo (approx)
  • $999,999 = $83,300/mo (approx)

So, in order to make six figures, you need to make $8,300 per month on the low end of this scale and $83,300 per month on the higher end of this scale. This is very possible with the forex market, but a lot depends on:

1. How much capital you have, and
2. Your level of skill & experience

If you’re well capitalized, you should be able to make your daily trades without assuming too much risk so that you can reach your goals.

I’ve written extensively about managing risk, being well capitalized, etc in other posts on this website. Here are two that should help you determine how much money you’ll need to trade with, based on your risk profile and how much you want to make (that is, between the range of $8,300 and $83,300 per month).

How much money should I start trading currencies with?

FX Trading In Action – An example of making money in forex trading

Read through these articles to learn and understand more about how to plan your trades and determine how much capital you’ll need to trade safely.

Best of luck!

Can you make 5-10% per week on your capital trading forex?

Question:
can you make 5-10% per week on your capital trading forex?

Answer:
Theoretically, yes.

Practically, it’s a little more complicated. Trying to get those types of returns in 1 week will expose you to a lot of risk, to be sure, but it’s still possible.

Lets explore what a 5% – 10% per week really means, shall we?

We’ll go with 10% for the purposes of this illustration. If you were to make a 10% ROI each week from your forex trading, that means you’ll make a 40% ROI per month. Furthermore, that equates to a 480% ROI over the entire year.

So, what you’re really trying to do is multiply your account 5X essentially, within the space of one year.

Is it possible? Again, yes… But, how much risk are you willing to take on? You could run through a string of trades and win each one, thus effectively realizing huge gains in your account. But then again, you could have a few winners and then a few losers thereafter. The losing trades, will of course, create draw downs in your trading account, the likes of which could severely slow down your progress (if you’re trading with this much of a risk factor).

In reality, most traders who try to be too ambitious with their trading end up “blowing up” their accounts instead of fattening them up.

A better approach is to either:

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What is the number one trick to big profits with FX Investing?

Ask a handful of traders about their impression of FX Investing and you will get responses that should be filed under the category of “difficult if not impossible to succeed at.”

Sound familiar?

We all know that FX Investing is risky – that’s not a secret. But, most people struggle to make money in this market because they fail to seek out a good education. Now, if a trader jumps into this market without the necessary skills required to sustain himself much less succeed, can the market be truly to blame?
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