#458: How Much Can I Make from Trading?

Online Forex Trading Course

How Much Can I Make from Trading? Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #458: How Much Can I Make from Trading? In this video: 00:24 – How much can you make from your trading 00:59 – Made a +1.5% gain during the live weekly webinar 02:03 – What if I had risked more? 03:35 – If you want to trade for Prop firms 03:50 – Being self-employed and being an entrepreneur 04:53 – We’ve never missed daily trades or webinars 05:10 – The next tennis great? 06:17 – Take a look at Blueberry Markets How much can I make from my Forex trading? It's a question that people ask me all the time. Let's talk about that a more right now. Hey traders, it's Andrew Mitch here at the Forex trading coach with video and podcast number 458. How much can you make from your trading Question I get asked all the time is, Hey Andrew, how much can I make? And when you think about it's such an open ended question. It has so many variables in his answer that you can't actually give someone a real answer. What I can say is that it comes down to your dedication, your hard work, how much risk you take, what type of trader you are, what strategy you trade. There's lots and lots of variables, far too many to talk about on here. But I'm going to give you a few general ones. Made a +1.5% gain during the live weekly webinar Here's a great example for you just last night on my live webinar, where I hold with my clients, I ended up making a 1.5% account game. I took trades on the U.S., Singapore dollar 2 hour chart, U.S. Swedish Croner 6 hour, the German 30 index, 6 hour, and the U.S. dollar index 6 hour. I actually had a buy trade that hit profit on silver against the U.S. on one hour chart in the session as well, but not including that one, because that was taken before we went live on the live trades that I took, that my clients could have followed copy taken. I personally made a 1.5% account gain, but I was only risking a quarter of 1% risk of my account, total per trade. Very, very small risk per trade, fantastic gains. And the reason I'm telling you that is when people say to me, Hey, what can I make? I go, well, I made 1.5% last night and they go, that's okay. That's not great. It's not exciting. Think of it this way. What if I had risked more? If I risked 2 1/2% risk per trade 10 times what I risked, I would've made a 15% account gain in the night on the webinar in just two hours. Start thinking about that and you go, wow, that's actually really impressive. A lot of people out there will tell you if you have a look on internet land and YouTube gurus and everybody else out there online that tells you how to trade. So many people will tell you should be risking up to 5% risk per trade. Let's imagine if I did that, I would've made a 30% gain on my account just in the one night. And the danger of that is that so many people then get really excited when they hear 15% gaining in a day or a night, just on two hours or 30% even. And people get the wrong side of it and they go, wow, that's just amazing. 30% in two hours. Where else can I do that? And while that is true, it all comes back to risk. And to me, you are far better off having that low controlled risk and being a consistent trader than you are to go 30% but 5% risk trade. It all depends on what suits you but my suggestion is you go low risk trade. The trade is still the same, but it's just that you are got so much more control there and consistency becomes such an important part of your trading. Now, if you are at 30% gain, but you risk 5% trade and a few trades go wrong, not quite so good. If you want to trade for Prop firms If you want to trade for prop firms, you've got to go low risk per trade because they're interested in making sure your draw downs are very low. And that's why so many of our clients are doing really well on prop firms.