To what extent can Forex Trading be profitable

You must have heard about George Soros, the all-time forex trading legend. At the same time, an ordinary trader can achieve amazing results too. Let's look at who can be included in the list of the best traders.

Cheng lekui deserves to be included in the list of the best traders. Cheng gained worldwide fame in 2008. This ordinary trader from the province of Shanghai-China started trading for$ 400 and set a new record of forex trading. In less than a month, he had 247 thousand US dollars on his balance. Qing did not need more than 6 months of training. He did not disclose his full secrets, but admitted that he relied on pending orders. 

The most amazing story happened in 2012 with Ahmed Arif who managed to turn his dreams into reality and became a millionaire from forex trading. After two weeks of active trading, he managed to raise his initial capital from$ 1000 to$1000000. He adopted an offensive tactic in trading such major pairs as GBP/USD and EUR/USD. No one expected to become a millionaire proceeding from the adoption of such a risky strategy.

Of course, bigger profits come as a result of bigger investments. The average annual return of a professional trader - after taking into account the risks-ranges from 20% to 100%. Thus, the difference can be easily seen: 50% of$ 100 means a profit of$ 50, while 50% of$ 1,000,000 means a profit of$500,000.

Can forex earnings be relied on as a source of income?

Many traders managed to change their lives through forex trading, they made a lot of money and were able to quit their jobs.A novice forex trader can make permanent profits from currency trading even if the amount of his initial investment is relatively small. It takes patience, adequate training, and constant learning to be able to make a continuous periodic profit.

Of course, no one can guarantee his income. But having sufficient trading experience, an individual becomes able to make a stable profit. Then he has the opportunity to expand his balance to, for example,$ 400,000. After that, a monthly return of 3% - 4% will mean$ 12,000 - $ 16,000 per month. That's more than enough money to get the life he wants! How long does it take This depends on the initial balance of each trader, and on his level of courage and risk.

Which trading approach should be chosen?

Forex traders can be divided into those who trade by themselves, those who copy the trades of professionals, and those who rely on automated trading. Each of these approaches has its advantages and disadvantages that appear according to the trader's performance.

Self-trading gives a real feel of the forex trading system and means complete control over transactions. It requires a lot of time, attention, and accuracy, because the trader conducts his trades himself without any automated support. This type of trading is very useful and helps the trader to take note of all the details of the market. In turn, the fact that everything is in the hands of the trader, may cause him fatigue or stress if he has many ongoing trades. At the same time, the opening or closing of positions depends on the trader himself and he can do it whenever he wants. 

In turn, the adoption of automated forex trading has the great advantage of eliminating the impact of emotions, which is a great advantage for novice traders in particular. Trading depending on robots is possible when a trader cannot enter the market for one reason or another. Unfortunately, automated trading does not enable the trader to fully control his account. 

Copy trading is one of the latest and most exciting trends in the world of investing today. Unlike many indirect sources of income, it is available to ordinary people without the need for large initial investment amounts. Copy trading means relying on the strategy of a professional trader. An ordinary trader follows a professional trader and copies his trades.

In other words, any trade opened or closed by a professional trader is completely copied into the account of an ordinary "invested"trader. The latter is therefore not considered a real participant in the trading process "but achieves results similar to the first".

Each of the three approaches has many advantages, through which it is possible to achieve stable profits. But manual trading suits the most courageous people, as driving a Formula 1 car. While automated trading and copy trading is like sitting in a luxury car and handing over the helm to a reliable automated driver with his performance.

Earn more with FBS

FBS statistics show to what extent forex trading can be profitable depending on the size and amount of investment. It is important to remember that investing involves some risks and it is impossible to avoid some loss from time to time.

The numbers prove everything. For example, among those who managed to make profits during the past month, traders who invested$ 100 or less made an average profit of 23%. While those who invested$ 1000 or more made profits by 27% to 55%.

The difference between these figures can be explained by the fact that people who are ready to make larger investments usually have more experience and higher self-confidence.

Forex trading enables you to make big profits, but this should be preceded by good preparation, patience and wisdom, in addition to developing a trading strategy and risk management.