When forex traders start trading, they hope to soon make large sums of money. This is the number one mistake forex traders make when they first start trading. Forex trading online can be volatile and swiftly-moving. You could lose more hints all your capital.
Kuala Lumpur Malaysia was host to a 3-day intensive and thorough foreign currency training. One of our Malay students wants to increase his wealth, financial freedom, as well build his company. A beginner at forex trading, he is in desperate need of money due to his unemployment. He wants to start trading for a daily living within a couple of months to achieve financial freedom. It is not clear how he will do this. Currency traders can expect to earn 2000% per year from trading currencies.
After one month trading forex online, I reviewed this student trader from Malay. Did you know? It is clear that he is suffering a significant loss on his forex trading accounts. According to him, his currency trading account is not able to use risk management or the money-management theory because it was so small. His goal to earn 200% per month is not in sight. We are just curious about his progress towards that goal.
It is possible to earn 2000% by trading forex on volatile markets. But it is not practical for every trader, and especially for beginner traders. Forex traders should have a tried and true forex trading strategy. It must offer at least 70% to 80% win rates over a long period of trades. An objective for beginner foxtraders is to make 10% per month if they can manage their risk well. The risk management level should not exceed 1%. Trades in the currency market are only allowed for few hours each morning. A winning strategy should yield a minimum of one currency trade. A total of 20 trading sessions will result in 14-16 gains, and 4-6 losses. After subtracting trade losses you will get an average of 8-10% per month. For beginners, this trading plan is simple and easy to follow. When you become consistent, trading forex can be a profitable career.