Is gaining 20% compounded trading forex each week possible?
I have been trading forex with FX Express for a few months now and I’ve been experimenting new ways to make money with it and what I’ve been doing has made me 10%+ a day with my practice account, but to be more realistic for when I come to put in real money when I turn 18, could I make 20% each week to compound my investment and become a millionaire? Has this ever been done and is it possible to do?
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Filed under: Trading Forex
people have made large amounts of money in forex by compounding their winning and starting from a relatively small amount. it would be possible to make 20% trading forex in any given week but it will not be possible to do it every week for a long period of time. when you trade real money do not expect to do as well as you have in your virtual account.
there are no guarantees in life and you could just as easily LOSE 20% in a week and then you would have to make 25% to get back to the same spot and don;t forget you have to pay income tax on your profits
You are headed for a straight path to blowing out your account and lossing all of your money. Start thinking like a trader and stop thinking like a kid.
Try for 20% a YEAR and you are hitting the ball out of the park. Try for 10% a year compounded in your Roth IRA and in less than 20 years you are a millionare.