How can a beginner trade in forex?

1. How much money can you make from the best Forex Trading Platform for Beginners? If you choose the best Forex Trading Platform for Beginners, how much can a trader earn per month? What is the monthly income potential of the average trader? In particular, traders in the field of retail foreign exchange and CFDs, their trading remuneration and salary level are more concerned by domestic traders. Let’s first look at the data on the “salary” of day traders in the United States. 1) Among day traders, high earners earn an annual salary of $150,000 and a monthly salary of $12,500; 2) Day traders who make $100,000 a year make up the 75% percentile of the sample size (i.e., only 25% of traders are above this level), and their average monthly salary is $8,333; 3) The average annual income is $80,081, the monthly average is $6,673, the weekly salary is $1,540, and the hourly wage is $39; 4) Average daily traders with an annual salary of $37,500 make up the 25% percentile of the sample size (i.e., 75% of traders are paid above this level), with a monthly salary of $3,125.

2. •As of June 13, 2021, the average annual salary for day traders in the United States was $80,081. The average salary range for day traders varies widely (up to $62,000), suggesting that each trader may have many opportunities for advancements and raises depending on skill level, job location, and years of experience. •According to the latest recruitment information from our sources, the recruitment market for day traders in Tokyo and surrounding areas is very active, and the average annual salary is the same as that of the United States, at $80,081. Among the 50 states in the US, day trader salaries are ranked first. •The chart below shows the ten cities with the highest salary for day traders in the United States. It can be said that the wages of day traders are higher than the national average. The top three are Sunnyvale, Calif., Santa Rosa, and Williston, North Carolina. •More importantly, these types of jobs pay $47,990 (59.9%) – $80,838 (100.9%), higher than the average annual salary of a day trader of $80,081. •So, here comes the critical question: How much money does a Forex trader make each month? •First, it’s essential to understand that most Forex traders are not profitable. Although you may have heard how easy it is to make money in Forex trading, the truth is that most traders fail. Greed may be the main reason. •Most novice Forex traders have unrealistic profit expectations. They think it is possible to earn 25%-50% or more per month. They dream of turning their small account into a huge one in just a few years. •This is impractical. If possible, everyone would do it. Most successful traders have meagre average monthly profits; 3%-7 % is typical. If you make an average profit of 10% or more over a year, you will be a “star” in the trading world. Consider this: •If you can maintain an average monthly return of 10%, your trading account will more than triple every year. With an average monthly return of 6%, your account will more than double every year. •With a trading account of $5,000 and maintaining an average monthly return of just 3%, your report will grow to over $170,000 in 10 years. But you must be clear that the annual return of billionaire traders and “stock god” Buffett is only 30%. •Here we are not saying that making 25% or more a month is impossible. But after all, few people in this world can do it. Factors that affect the profit potential of a day trader are: •The market you trade: Different needs have different strengths and weaknesses. Equities are generally the most capital-intensive asset class. Individuals can deal with less capital than other asset classes such as futures and foreign exchange. •How much money do you have: If you start with $3,000, your earning potential is much lower than someone who starts with $30,000.

3. Timing: Few-day traders are successful in just a few days or weeks. Profitable trading strategies, systems, and methods can take years to develop. There is no holy grail in trading. It’s a long accumulation process in which you need to let go of bad trades, overtrading, and excessive leverage. What is the actual average monthly profit expectation of successful traders? A successful trader trades the edge their trading system can give him and takes what they can get. They do not set goals and do not force transactions to achieve them. For a successful trader, an outstanding year might look like this: •January +5% •February -2% •March +9% •April +12% •May +3% •June +9% •July +15% •August +20% •September +7% •October -4% •November +5% •December +5% •If he does not withdraw funds from the account along the way, a trader who has access to the above transaction record will gain more than 120%, more than double their initial funds! Their average monthly profit margin is 7%. •Perhaps after reading this, you will say to yourself, “At this speed, I will never be able to trade for a living.” This is the greed and impetuousness of every inexperienced trader.

4. •If you are serious about making money from trading, day trading is not a hobby or occasional activity. While there’s no guarantee you’ll make money or be able to predict your average return in any period, there are strategies you can master to help you lock in gains while minimizing losses. •Becoming a successful day trader requires discipline, capital, patience, training, and risk management. If you’re interested, review the best stock brokers for day trading because the first step is to choose the right broker for your needs. Reference:- https://blog.forexsp.com/best-forex-trading-platform-for-beginners/ Address:- 3422 Old Capitol Trail #700, Wilmington, DE 19808, United States Phone:- +91 022 6908 6400 Email:- support@forexsp.com, info@forexsp.com