Can i make arround £3000 in a month? - page 2
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Ohhh, KKK, coz I thought maybe there is a whole new meaning to FX that is different from FOREX
Cheers,
Diam0nd.regards
EACAN
My advice
Hi jamieludlow
What are you asking is almost imposible. There are some EAs which can win 3000 from 1000 in a month but they are very risky. This month they could win 3000 but the next month they could lose all your money.
To get an image about how an EA can perform, you can visit this link:
http://championship.mql4.com/2006/participants
The contest started on 2 oct. with 10,000 USD on every account. As you can see, the EA on first place managed to get its equity to 24,000 in one month.
I think you must do a lot of research and learn about FOREX for at least 2 months before opening an account.
With 1000 $ you can only open a mini account, which is great for beginers.
I recommend you to follow the Phoenix 2007 thread on this forum. Phoenix proved that it can double your money in a month (on USDJPY, M15, default settings).
...and now the most important advice:
DON'T TRADE MONEY WHICH YOU CAN'T AFFORD TO LOSE!
If you can't afford to lose those 1000, wait until you save more money.
You can open a minic account with few hundreds. I recommend at least 300 in order to open a 100 position and have 200 as free margin.
Trading FOREX implies a very high risk. Basically, you can lose all your money every day!
On my first trade I've lost 440$ from my 2,500$ account. Imagine how you'd feel!
If you need other answers please feel free to ask.
Good Luck!
Babypips.com
Thats a good place to start! It teaches you about the basics and then some.
Hi jamieludlow
What are you asking is almost imposible. There are some EAs which can win 3000 from 1000 in a month but they are very risky. This month they could win 3000 but the next month they could lose all your money.
To get an image about how an EA can perform, you can visit this link:
http://championship.mql4.com/2006/participants
The contest started on 2 oct. with 10,000 USD on every account. As you can see, the EA on first place managed to get its equity to 24,000 in one month.
I think you must do a lot of research and learn about FOREX for at least 2 months before opening an account.
With 1000 $ you can only open a mini account, which is great for beginers.
I recommend you to follow the Phoenix 2007 thread on this forum. Phoenix proved that it can double your money in a month (on USDJPY, M15, default settings).
...and now the most important advice:
DON'T TRADE MONEY WHICH YOU CAN'T AFFORD TO LOSE!
If you can't afford to lose those 1000, wait until you save more money.
You can open a minic account with few hundreds. I recommend at least 300 in order to open a 100 position and have 200 as free margin.
Trading FOREX implies a very high risk. Basically, you can lose all your money every day!
On my first trade I've lost 440$ from my 2,500$ account. Imagine how you'd feel!
If you need other answers please feel free to ask.
Good Luck!Good suggestion. I'd agree, Phoenix is the ONLY EA that might bring you some money on a real account.
Also, if you want a mini-forex broker, you might wanna have a look here: https://www.forex-tsd.com/forum/commercial-talks/4314-choosing-a-mini-broker
Babypips.com Thats a good place to start! It teaches you about the basics and then some.
Yes. Babypips is great for you! Read it all!
http://www.babypips.com
Yes. Babypips is great for you! Read it all! http://www.babypips.com
Take your time
A martial arts student went to his teacher and said earnestly, "I am devoted to studying your system. How long will it take me to master it." The teacher's reply was casual, "Ten years."
Impatiently, the student answered, "But I want to master it faster than that. I will work very hard. I will practice everyday, ten or more hours a day if I have to. How long will it take then?"
The teacher thought for a moment, "20 years."