How hard is it to make $100k-$200k in forex?

[Mr J]

You answered your own question. Most beginners lose. I have no doubt that >100% pa is possible from some people (and have seen proof backing this up from people), but the vast majority of beginners will not be able to do it.

That's fine. I was looking at it from an absolute point of view, rather than the expectations of a beginner (which is obviously more appropriate for the thread).

 

[lukeaye]

How hard is it to make $100k--$200k a year?

What time is involved say per week(in your opinion) to achieve this?

An idea of what you as a forex trader have achieved, how long it took and what problems you encountered.


Ptony1948.

Im not really much of a forex trader. But i can give you my experience in learning the markets and trading profitably.

I don't make 100k a year, yet, but i have a small capital base.

You probably shouldnt be looking at it in terms of how much time will i need to give each week to make the money, but the appropriate question is;

How much time will it take me to become profitable enough to trade full time? Thats the hard question. For me its taken 3 years. And its not easy work. years without making money, just sort of moving sideways, and losing bits here and there. I still work full time as well, i dont trade fulltime. Its a side income for me, because i still dont make enough to live off it.

Once you have mastered your strategies and techniques, then you will not have to trade 24 hours a day 5 days a week to make that sort of money.

I spend maybe 2 or 3 hours a day trading. 30 mins setting up my trades and 2hours a day looking for emereging set ups. But thats trading stocks, not forex.

 

[lasty]

There are several factors to consider when trying to make X
Market movements, capital outlay,risk and market information.
Most retail traders rely on technical positions via charts however the professional traders at large institutions use market info ie capital
flows etc.
This info is vital to gain advantage over your peers.
Pure technical traders will dismiss it but it's a great weapon in your armoury since FX isn't exchange regulated.
You will need to align yourself with those in the know instead of relying on platform demos and software which vendors try to lure you in with.
I suggest you do your homework and look for mentors who have had years of experience in the professional markets to show you the pitfalls rather than getting sucked into expensive charting packages which are run by charlatans who have no actual experience trading.
Good luck

 

[IFocus]

An old market joke not far from the truth

"How hard is it to make $100k-$200k in forex?"

Its easy just start with a $1 million

 

[aufxpro]

Hi Tony,
I am new to this site however not new to the markets , i have been trading for 16 years and in particular FX for 6....I can now earn 100 k a year starting with 10K.. I have traded basically every market there is and find the GBPUSD the easiest and most rewarding i have ever done...You will never make the money you ask for without help my friend ..its a long hard slog starting from scratch....i know as i teach people to trade .

All the best Aufxpro

 

[lukeaye]

Hi Tony,
I am new to this site however not new to the markets , i have been trading for 16 years and in particular FX for 6....I can now earn 100 k a year starting with 10K.. I have traded basically every market there is and find the GBPUSD the easiest and most rewarding i have ever done...You will never make the money you ask for without help my friend ..its a long hard slog starting from scratch....i know as i teach people to trade .

All the best Aufxpro

So when are we going to hear about your sale?

You earn 100k a year with 10k a year by taking poeples money for teaching.

 

[lasty]

Do I sense some doubt here about making 100k out of 10k ?
I've seen guys make 100k in 3 months out of 20k
Like I said before these guys are in the know have the contacts and
don't rely on charts.
They don't over trade and leverage high on certain directional flows.
Brokers don't want to hear that.
They make money from active traders, give you all the bells and whistles to make you trade constantly.
The odds are stacked against you.

 

[aufxpro]

Interesting comments ,,I feel sorry for you Lukaye that you judge people so easy ,i would doubt you have little success in trading as well ...seems alot of sceptascism around, it can definitely be done and without inside information etc and using only charts AND NO indicators , they are all useless and not consistent..and something like 5 years of consistently searching and developing strategies that not only work but give reliable profit targets for trades.I dont make my money from sales ,or am one of the Fx sharks ,as that is not my goal in life , i see the teaching as helping people through what i went through for the first 8 years ,however i am one of the few that just never gave and i dont have the negative mentality that it cant be done .(That phrase is not in my vocabulary) or anyone that can is full of S....
I will tell you 2 things :the most important is a reliable broker not a bucket shop that takes the opposite side of your trades..
Secondly have a look at when the markets move every day , i trade the GBP USD, get rid of indicators have a clear chart and look at the specific time frames when things happen daily then devise a strategy and then see if there are times of the month it works better and times it doesnt ,make a road map.

 

[adobee]

I was going to right some replies but decided not too.. Surprised you guys have time to write on the forum if you are busy making your 1000% returns.. Imagine if you used that 100k you made instead of 10k you could have 1million dollars and the infinity dollars ...

I think this thread is rubbish ...

 

[Wysiwyg]

Surprised you guys have time to write on the forum if you are busy making your 1000% returns.. Imagine if you used that 100k you made instead of 10k you could have 1million dollars and the infinity dollars ...

At 100K per year I wouldn't need to convert anyone. More little fish in the pool the merrier though.

 

[lukeaye]

Interesting comments ,,I feel sorry for you Lukaye that you judge people so easy ,i would doubt you have little success in trading as well ...seems alot of sceptascism around, it can definitely be done and without inside information etc and using only charts AND NO indicators , they are all useless and not consistent..and something like 5 years of consistently searching and developing strategies that not only work but give reliable profit targets for trades.I dont make my money from sales ,or am one of the Fx sharks ,as that is not my goal in life , i see the teaching as helping people through what i went through for the first 8 years ,however i am one of the few that just never gave and i dont have the negative mentality that it cant be done .(That phrase is not in my vocabulary) or anyone that can is full of S....
I will tell you 2 things :the most important is a reliable broker not a bucket shop that takes the opposite side of your trades..
Secondly have a look at when the markets move every day , i trade the GBP USD, get rid of indicators have a clear chart and look at the specific time frames when things happen daily then devise a strategy and then see if there are times of the month it works better and times it doesnt ,make a road map.

Wow i take it all back! you do sound good!

I can provide statements, can you? Or don't you believe in results?

If your lifes goal is to help poeple, and you have a genuine interest in helping others, then will you provide your obviously extensive knowledge for free?

 

[lukeaye]

At 100K per year I wouldn't need to convert anyone. More little fish in the pool the merrier though.

I don't think you get it! Its not about the money at all!

Its all about helping people!

Maybe he should try going down to the soup kitchen and volunteering if he genuinely wants to help

 

[lukeaye]

Geeez and i thought I was the cranky one around ere

nun oyu cant tell me you cant see whats comming

 

[wayneL]

$100k from $10k eh?

Let's do the numbers.

Let's presume we're talking USD

With 250 trading days a year, we need to make $400 per day.

If trading futures,that's 35 ticks a day on average if trading Euros.

If trading GBP that's 70 ticks, on average, every single trading day of the year.

With 10 k we probably only want to trade 1 lot.















































BAHAHAHHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHHA!!

 

[nunthewiser]

nun oyu cant tell me you cant see whats comming

From here it looks like yet another guru spiel that promices the world but shows nothing ...

Personally i tend not to believe ANYONE here that mentions dollar amounts as over my tender years have noticed one thing ....... those that have money dont mention how MUCH money ............

Just for the record . Statements posted here mean squat to me also . we all seen how easy it is to knock up a few fakeys or the use of demo accounts to try and impress the minions ........

Happy to sit here and be impressed by yet another gigazillionaire that telling me how to suck eggs but not actually providing me with one .

 

[vincent191]

"Inside information" or "Good Broker Advise" when trading forex??? Yes sure !!! I didn't know you guys were good mates with George Soros.

The only certainity when trading fx is Monday comes after Sunday. There is no certainity in trading commodities, it all boils down to lots of research, luck, capital and a good feel for the market.

If making heaps of $$ is so easy we will all be millionaires!!

 

[professor_frink]

$100k from $10k eh?

Let's do the numbers.

Let's presume we're talking USD

With 250 trading days a year, we need to make $400 per day.

If trading futures,that's 35 ticks a day on average if trading Euros.

If trading GBP that's 70 ticks, on average, every single trading day of the year.

With 10 k we probably only want to trade 1 lot.

BAHAHAHHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHHA!!

trading 1 lot for every 10K in an account, adding 1 contract every time you made 10K and stop scaling at 10 contracts, netting 10 ticks out of the euro after costs each and every day for 250 trading days would see the account well past 100K by the end of the year.

an average of 10 ticks a day on the euro isn't out of the question IMO(well not for the past couple of years it's not)

 

[wayneL]

trading 1 lot for every 10K in an account, adding 1 contract every time you made 10K and stop scaling at 10 contracts, netting 10 ticks out of the euro after costs each and every day for 250 trading days would see the account well past 100K by the end of the year.

an average of 10 ticks a day on the euro isn't out of the question IMO(well not for the past couple of years it's not)

1/ What do you live on?

2/ If there are other cash reserves to live on, we must consider our capital at substantially greater than $10K

3/ If working a full time job, we must consider a risk of ruin of some number of magnitudes greater than that if trading full time.

Your scenario is an entirely different proposition.

 

[CFD]

So when are we going to hear about your sale?
You earn 100k a year with 10k a year by taking poeples money for teaching.

Gee, no one criticised your views (even though some may not agree with them).

You may or may not be right (and you have no idea which) but what a nice way to welcome someone to the forum!

 

[professor_frink]

1/ What do you live on?

2/ If there are other cash reserves to live on, we must consider our capital at substantially greater than $10K

3/ If working a full time job, we must consider a risk of ruin of some number of magnitudes greater than that if trading full time.

Your scenario is an entirely different proposition.

Only have an answer for number 1 - Mrs Frink

yeah there are always going to be quite a few other factors involved in whether something like that can be done, just thought I'd point out how scaling can impact on returns that can be generated.

Personally I think it's also a good example of what can be achieved when you don't have to draw down on your trading capital for living expenses