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Forex trading

  • 16-04-2024 7:06pm
    #1
    the O Reilly connection
    Registered Users Posts: 160 ✭✭


    Hi

    I was wondering how much per day can you make safely make Forex trading? I used etoro before but haven't done it in a while. Some articles I have read said that day traders aim at 1-2.5 % a day. I aimed for much higher profits with smaller amounts when I traded.

    Whats your opinion?



Comments

  • #2
    Mach 3
    Registered Users, Registered Users 2 Posts: 235 ✭✭Mach 3


    I suppose it depends on your risk/ reward ratio really, or whatever you are comfortable with in your trade plan.

    Good luck.



  • #3
    the O Reilly connection
    Registered Users Posts: 160 ✭✭the O Reilly connection


    I've checked some trading websites and it looks as though on average 75% of people lose money on those sites.



  • #4
    taratee
    Registered Users, Registered Users 2 Posts: 325 ✭✭taratee


    1-2.5% is nonsense. Crunch the numbers yourself and see.

    https://www.boards.ie/discussion/comment/122061090#Comment_122061090

    That sounds very, very low. I find it very hard to believe that 25% of retail traders are profitable. Guessing that the broker is working those numbers to make the them look better. My understanding is that ~90% of retail traders lose money trading.

    Am Yisrael Chai



  • #5
    Alexander Ozzie
    Registered Users, Registered Users 2 Posts: 12 ✭Alexander Ozzie


    on weekday,not all day are good to trade..

    Choose your correct Session to trade.. if your analysis is good everything should be fine.



  • #6
    the O Reilly connection
    Registered Users Posts: 160 ✭✭the O Reilly connection


    I've tried virtual money for the past 3 months and used little to no leverage. I was able to make 5% a month on average trading FOREX.



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  • #7
    the O Reilly connection
    Registered Users Posts: 160 ✭✭the O Reilly connection


    I guess I said too much here. My virtual account was wiped clean this morning. All open trades vanished.



  • #8
    CliffHangeroner
    Registered Users, Registered Users 2 Posts: 563 ✭✭✭CliffHangeroner


    You won't make money trading forex don't waste your time also those 75%, 80%, 90% traders losing money forex stats from the brokers is complete nonsense. The true figure is closer to 99% of traders don't make money long term trading.

    1% a day, even the best traders in the world only make that a month for goodness sake.



  • #9
    the O Reilly connection
    Registered Users Posts: 160 ✭✭the O Reilly connection


    https://www.boards.ie/discussion/comment/122863343#Comment_122863343

    Do you think shares are better to trade?



  • #10
    CliffHangeroner
    Registered Users, Registered Users 2 Posts: 563 ✭✭✭CliffHangeroner


    https://www.boards.ie/discussion/comment/122870648#Comment_122870648

    If you really must trade just invest in the main indices or a decent ETF. Currency trading is for mugs, the whole industry is set up to take money from retail suckers. Yeah you'll hear about the odd retailer who made x amount of profit on a trade but like a casino or a bookie in the long run you are the product.



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