Does anyone knows how much can I possibly make a day in the FOREX market with $3,000?

Discussion in 'Forex' started by ARISTOKRAT LAN, Apr 14, 2012.

  1. Thanks in advance to everyone who helps.

    I have no experience in trading but I'm about to sign up for some FOREX course in Online Trading Academy (O.T.A.) in Tampa, Florida, United States of America and I would like to know how much can I possibly make a day in the FOREX market if I start trading with $2,500 to $3,000?

    Does anyone knows how much can I possibly make a day in the FOREX market if I start with $2,500 to $3,000?

    A close Idea will help very well, I have no sort of experience when it come to those subjects at all. The Idea of an approximate number would be paramount in helping me making a paragon decision.

    Furthermore I can use some reading references from books, online topics, text books and etc.

    No B.S. welcome.

    Thanks in advance to everyone who helps.
  2. I'll play. A lot if you lever our stake 100:1 and never make any mistakes. But that is so unlikely you might as well go to Vgas.
  3. Now a serious response. You'd be doing well to make 20% annual returns without leverage, so call it 600/252 trading days, so a little over $2/day.
    comagnum and zhaoyun like this.
  4. AK100


    Sorry to dent your hopes but you're -

    a) wasting your money with the course you';re about to take - you've been taken in by a marketing organisation (trading just happens to be the product they're selling)

    b) Trading doesn't pump out regular profits like a regular job, and

    c) The amount of money you're using is too small to make any real profits

    As I said in another post if you want to be a successful trader then think of it like being a successful lawyer. To be a successfull lawyer probably takes a minimum of 5 years and in the first few years there's NO money to be made. Most however want it easy, a weekend's course, a few months of practice and then the profits flow like a stream or river.

    My advice if you want a chance is to start thinking about a 5 year plan.

    PS. As for your question, how much can you expect to make a day off $3,000, you'd be doing very well if you could do a net $5-$10. If you want to make more then go get a job at McDonald's or start washing cars and mowing lawns in your neighborhood.
    Handle123 and comagnum like this.
  5. Thing is, he said he doesn't know what he's doing.

    I will give you "No B.S.": I can't tell you how much you can expect to make in a day. I can tell you what the end result will be, after somewhere between 1 and 12 weeks: -$3000 . I don't know how many thousands of dollars you are about to pay to that "education academy" but it will be a complete waste. You won't learn anything that will make you a dime.
  6. Look, maybe you are young - in which case go to university, earn a math degree with top marks and try to get hired by a trading firm that will give you some real education. Otherwise, be prepared to spend several years wading through the bullshit before you come to realize what trading is about. Then be prepared to spend several more years finding your strategy. Take that $3000 and multiply it by 20 or more and you might have enough to cover expenses and losses on the way and hopefully have a small stake to get going once you know what you're doing.
  7. Also you asked about books. I have read them all, so I can give you advice I wish someone had given me:

    Stay away from any book about trading.

    99.9% of them are total bullshit. The ones that are worth something are the ones you'd find listed on a university course syllabus. There are exceptions but they are few. My advice would be to visit some university websites and look at the syllabus' for some finance and trading courses and get some ideas from there. Two that come to mind are: Trading and Exchanges by Larry Harris and Options, Futures and Other Derivatives, by John Hull.
  8. In a day, at $5 a pip, you could make well over $1000 without much effort.

    The problem is the next day... you could lose well over $1000 and work a lot harder.

    Then the following day you could lose another $1000+ while working really hard.

    Then the next day you are not the same sane, well balanced person.

    I guy I know had $500,000 in his account and lots of time to learn as he didn't need to dip into his account for living expenses. He was self taught and two years later his account was worth $5,000. If you asked him how much he could make in a good day he could sound inspiring.

    If you read first hand accounts here of guys who were trained by OTA, you'll know that after you're trained you'll know a lot more than you do now, but nothing about how to make money.

    It's really as easy as this: ask OTA or whoever to show you a live trade and watch it perform. Then ask again. And again. If you can't see someone making it work, then forget their training, coz it's either about learning how making money works, or learning how the theory of making money might work.

    Go after the $$$'s and not the course certificate.
  9. ehsmama


    I don't know how much you can win -- But I know how much you can lose in a Day -- 30,000 dollars conservatively

    The plan of attack for a person who wants to consistently trade profitably is simply not to go buy the books...go to school...get the degree....etc...

    AL, you formed your thread with bait and I suspect you enjoy the replies, interest and attention.

    It just is not that simple or there would be more consistently profitable traders.

    I suppose to unlearn everything you know or read might be closer to the truth.

    Trading is well...sorta like religion....The revelation is not realized through logic, hardwork or entitlement.

    I hope this helps...but you will not listen...I surely did not when I was on fire. The Wild West of Forex is for cowboys.


    P.S. Just for encouragement...The market is not a collection of trades causing a random movement...trends are proof of that. There is a deliberate activity taking place.

    #10     Apr 14, 2012