The most significant question people want to be answered when they decide to give Forex trading a “try” is, “How much money can I make?”
They are not interested in learning to trade Forex or mastering a skill that can improve their lives forever. It all boils down to how much money they can make.
The problem comes in because marketers understand this is what everyone whats to know. So, they provide unrealistic results and get people’s hopes high. This sets new traders up for disappointment, and ultimate failure.
The truth is, there are too many factors involved in Forex to precisely predict what your income will be, at least in the beginning.
However, the good news is, you can make an excellent income from Forex trading even if you are starting with modest account size. By using the power of compounding, you can increase your account balance to a decent size, where it is possible to make good money with a reasonable percent increase per month.
Let’s say you start with $1000 and make a 25% increase per month. After two years, you’ll be making more than $50,000 per month.
Or, you could start with $50,000 and earn 10% a month, which equals $5,000 a month. (Really, the combinations are countless, but are very impressive in contrast to “normal” jobs).
Now for what you might consider being the bad news. Focusing on the money first is the wrong way to go. You should first concern yourself with mastering a trading system and developing the skills to trade it according to plan under live market conditions with real money at stake.
Then you need to see what your results are with the account size you are using and the money management strategy you are using. Then you can start to get an idea of how much money you can make per month, or come up with a plan to increase your account balance using the power of compounding.
So focus on learning a trading system and developing the skills of a trader, and you will be surprised at how much money you can make trading Forex.
Next, learn how to go through the process to become a successful Forex trader from someone who has already succeeded. Forex Insider Pips teach you what you need to do to start to see the money you dream of making, and all the training is free. I’ll even give you some exclusive trading tools to help you become a better trader faster.