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How much money can you make and how long will it take for a beginner?

Discussion in 'Beginners Bootcamp' started by danielluketic, Nov 9, 2018.

  1. movit4000

    movit4000 Recruit

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    1. Take the Forex Military Academy - Should take you about a month to complete
    2. Find a suitable trading system for you
    3. Open a demo account for at least 2-3 months
    4. Open a micro account with a small amount and trade there for at least 2 - 3 months until you are profitable

    I would say around 6 months should suffice to learn to trade profitably.

    You can make any amount of money, Conservatively I'd say 5-10% a month
     
    rodrigo f millan likes this.
  2. bigdolly

    bigdolly Sergeant Major

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    How long have you been searching for a profitable strategy before you found it? I had several profitable strategies with Hotforex but all of them were dying quickly, so basically I'm in constant search for new forex tricks and tips.
     
  3. John Mason

    John Mason Private

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    Nobody is a professional at the start. All traders have an initial stage, where they do mistakes, face losses, even blow their accounts many times. This is a process through which we have to pass to go to the road of success. We cannot make higher than our skill. One tip that I can add is to keep practicing one method for at least 1 year before you think it is not working.
     
  4. EURUSD

    EURUSD Sergeant Major

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    Forex trading is not easy business, even though seems very simple, but in fact its not, forex trading is risky business, as professional trader indeed they also come as beginner stage, with process eventually making them become great trader, but about time, I think it will depend with each trader skill to manage their money

    For beginner, if they already passed on the demo account, at least six months, it will better to trying with the micro account and make a small deposit first to avoid bankruptcy
     
  5. Albert Dcosta

    Albert Dcosta Private, 1st Class

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    The point is not about making money, it is about learning the skills to make consistent pips in the market. When you will start making some pips, the money will flow in by increasing your lot size.
     
  6. nahiyar

    nahiyar Private, 1st Class

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    I also like to advice all traders start with micro accounts here they will not bear a great loss. Although profit is not describable with this account even then too the learning they will get will help in live trading with proper investment . They will easily calculate all profit , loss , lot and leverage usage in trading. Trader needs to start with beginning not think of professional earning until they not spend sufficient time in trading.
     
  7. bigdolly

    bigdolly Sergeant Major

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    Don't think about profit and success will come on its own. That's how it works. If you make trades based on hopes to convert your 10 in 1000 you basically take unlimited risks. And the chance for successful streak of trades is tiny same as winning in lottery. And we know that it's impossible to win in lottery
     
  8. nahiyar

    nahiyar Private, 1st Class

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    I do not think this type of win come to every trader's life, They should not wait for a time that will turn their $10 into 1000 . The best way is to get learning and go to proper way to practice trading it can be helpful to gain some reasonable profits.Any jump in trading is just a chance that can be a good or bad. Ho for possibilities that he can do at his own.
     
  9. EURUSD

    EURUSD Sergeant Major

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    Yes indeed profit will never come its own but will depending us, if we had good skill to manage money in uncertainty market condition, and we having good accuracy analysis, hence profits will come easily, but however forex trading will remain risky, no matter how long we have experience, the risk will always be involved in trading, besides we have targets also need a risk management plan here
     
  10. AlecR

    AlecR Private, 1st Class

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    No doubt all trader have to cross the stage of beginners, there is no time frame for money making. May be you got this position in couple of months or have to spend years to make consistent profit. It all is up to your learning and effective trading approach that determines the ratio and time of profit taking.
     
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