Many people dream of making money on Forex. But is it possible to make money on Forex? Can a newcomer without a financial education become successful on the market?
It turns out that to achieve success, you need quite a bit. Forex is a financial market that is designed for currency exchange. Most often, those who use it, earn it on the difference in rates. In some cases, you can get a considerable profit. This process is called trading.
How much profit it will bring depends only on the trader himself. In particular, you need to have enough experience, knowledge, the right strategy of behaviour in the market, as well as some luck. In this case, the amount invested can be multiplied in a very short period.
Can a beginner make money on Forex?
Of course, a beginner can make money with trading. However, the question, in this case, is the speed of learning and understanding of the market. Exchange rates are more understandable for a beginner than futures or stocks. However, it is necessary to take into account that such a simplicity often leads to the reassessment by the novice trader of his capabilities. You can make a stable Forex trading, but no one says that it is easy.
What to start from:
It is important to choose one currency pair and study it deeply. Make a daily analysis of the market and economies. Learn the basics of technical and fundamental market analysis and train your trading skills on a Demo account. Apply this knowledge while forecasting. If you take the question seriously, then you can answer for yourself how much a newcomer to Forex can earn.
How much do Forex traders earn
As a rule, professional speculators try not to talk about their incomes. However, those who have achieved some success on the Forex market and shared some information about their monthly profit claim that the average earnings of a trader per month vary from 5-10% per month.
It may seem to you that 10% is a modest value, but if you take into account the annual period, then it is 120% without taking into account the capitalisation of profits. First of all, it is necessary to remember that traders do not consider earnings in dollars or other currencies. The profitability of trade is calculated as a percentage. Because to earn $100 a month by investing $50, and to earn the same amount by investing ten thousand is not the same thing.
Here begins the legend of the fabulous earnings. Many believe that experienced traders earn 1,000% or more every month. These players exist, but the amount of management is not large, because a high percentage of profits will always be associated with a high rate of risk.
So, everything depends on the trader and his desire. You need to learn a lot, get some experience and everything will be great. Good luck!