Can I make $10 an hour trading forex currencies?
Question:
How much should I have in my account?
Leverage?
What broker?
Answer:
no you can not. but you can lose hundreds in seconds. 30 years investing.
never quit your job for forex .
Only 10% of traders win consistently.
Practice Practice Practice.
You can make much more that $100 per hour
Start with what you can afford to lose
Leverage 80 percent.
FXCM.com
Forex profit is not related to the number of hours that you sit in front of a screen. It is dependent upon the number of successful trades that you have. The problem is that you have no control at all over when a successful trade may present itself.
I have clients that have made over $2000 in a week and they never spend more than 30 minutes a week managing an account of any size.
I would suggest that rather than looking at Forex as a means to quit your job, you should look at Forex as a long term investment vehicle to accelerate your retirement fund.
Paul
Yes it is possible but it is alot more involved than answering a basic question. If you would like me to answer more in depth write to me at billone44@yahoo.com I am a forex trader with investment clubs
Sure you can make $10 per hr OR you can lose $10 per hr.
Easy come-easy go.
If you want to make $10.00 an hour then apply for a job at McDonald's.
Forex is only for people interested in making $100.00 an hour.
I tell you there is something about trading in general and Forex in particular that lures people in like a good bait to a fish. Those that are already in the net, find it hard to get out even when they found out the bait is long gone and definitely no food there. The lucky ones get to work in the circus for the occasional wins. Apologies for this round the bout literarics. But, yes, Trading in Forex cannot be measured by time. Just as you cannot measure fishing by time. Sometimes you get something when you put the line down, sometimes you wait for days. Like many answers that have gone before mine, please note the sound of caution, the horn blowing in the fog. Right now maybe you do not know what to make out of the sound, so thread ever so carefully. You can do two things, one, turn away from this "evil" or open a demo account and trade for 6 weeks. Plug your trade figures into this "reality checker" utility and see whether you are ready to go live.
Check it out @ http://www.geocities.com/lcming/forexboo...
I assume by played a little, you have traded for a short time only. If so, its probably beginner's luck. You have to be in it at least a year or so. My advice is don't quit your job at the moment and trade using demo accounts first to train and educate yourself as much as possible. Leverage for starters, use 100:1 then gradually advance as you become more advance. As for broker, any broker that you can find is fine.
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