10% Forex Returns?
What are realistic average monthly returns when trading forex. 10% monthly gains? Is this type of return possible for you?
Are 10% Monthly Returns Possible Forex Trading?
Often people ask this question, is it possible to have a 10% return monthly trading forex? Or traders who would like to start trading with $5,000 and be able to trade forex full time and support themselves.
I’ve heard of some traders who consistently hit 10+% a month over a few years, is that possible?
Sure it is possible. You might even be one of the extreme few who can it yourself one day. Right now though unless you are already close to achieving those kind of extraordinary trading results it would be best to focus on improving your trading and setting some realistic forex trading goals for yourself that you can achieve and work on expanding those goals as you do reach them.
Before you are worried about how much of a return you can have, learn how to have a return on your money.
Your first goal in forex trading should simply be having a return on your account and growing your money. You have to have forex goals that are realistic so that you can achieve them. New traders often have lofty goals or pipe dreams of the type of returns they want to have. Spending perhaps more time playing with a calculator figuring out how much money they will have if they have a 10% return monthly or weekly than they spend on working our a viable trading plan.
Realistic Returns In Forex Trading
I am not sure what type of returns you imagine or desire to make trading Forex but before you set unreasonable goals that will lead to the market humbling you quickly I would suggest you first learn to be able to turn a profit. You know the old adage learn to walk before run and crawl before walk. Same hold true in trading forex. The trader who knows how to make money trading understands the value of having a return on their money. The person who yet does not know how to make money dreams of impossible returns. Give yourself an edge and have the mindset of a successful trader and you will be on your way to becoming one.