Monday, February 24, 2020

How much can you make from day trading?

I read only 1 book about technical analysis and understand that this contains only information what can help me to lose all my money :) LoL
I create trading strategy by my self after spending 10 years of constant work!
Here is short story about my self:
I started to learn Forex when I was 18 years old. And practice a lot opening BUY/SELL orders on demo account.
You may be heard that many beginners in Forex are lucky :) I was lucky and made my first profit when I open real trading accountBut then I lost all.
But this didn’t stopped me… I was angry on my self and asking same question:
how this may happen…
After that I started to read forums, book about trading and searching for trading system.
Guess what… this not helped and I was keep losing money in trading.. Around 5 years ago I learned one thing what changed my whole life. And this thing was: Money Management.
So now i’m profitable Forex Trader. I’m not a billionaire but I’m making stable profit every monthMy deposit growing and I have money to pay bills and travel a lot.. Have house and investing in real estate.
Every day in Forex Trading is similar to me:
I open trading terminal -> checking what orders where closed by Take Profit, putting new Limit orders and visiting Forex Factory website to check Forex Calendar news.
Sometimes market are going to fast and I open trades instantly. And I discover one thing: the more money you have on your trading account the less you will trade :)
But I remember my first days in Day Trading :) This was something LOL :) My record was 800 Trades in single day! Even If I was closing day without profit -> Broker was sharing with commission because they where extremely happy with such volume trading :)

Now I have around 10–30 trades per day not more.
If you want to learn about how to become Day Trader or Long Term Investor in Forex I can recommend you to read websites like Forex Factory and BabyPipsThis websites got tons of information. Of course not all people got time to read all this so I have created course where I share my experience in Forex Trading.
You can use that to learn Money Management and learn how to control risks in Forex Trading, How position sizing works…
I can give a hint: If you want to become profitable in Forex Trading ask your self how brokers and Market Makers are making money? - They Focus on Long Run! This is exactly what every trader should do even if your starting deposit is small.

Also shared on Quora

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