Probably each of us has seen a video or photo, where a trader with a cocktail in hand on the ocean beach looks in the computer screen. I hope that everyone understands that this is a cheap publicity stunt. It is impossible in a short time become the owner of the house on the ocean,the sports car for 300k and girl model looks.
Although about the last one I'm not sure. If you do not have 1 million, very small chance that in a month you will have 1.5.
So what to expect from trading on the forex market. The most easy way is buy fully automated trading system, I mean expert advisor, or couple of them and start trading immediately. But if expert advisor's developer claims that you will gain 300% per month, it's the same nonsense. Professional expert advisor should earn about 50 -100% per year with maximal drawdown 20-25%. For this reason if you would like to invest in forex 10 000 you will receive 15000 within 1 year.
You can increase your gain if you use money managment: Lot size = percent by account balance, but risk will be higher. If you use several Expert advisors on several currencies, it will reduce risk and increase profit , provided that all expert advisors are professional.
- Never buy expert advisor from one-page website with painted statements.
- Never use expert advisor on real account without forward testing on demo.
- If you choise based on back test, bactest should be for period 2 years or more, drawdown about 10-15% (if EA trades with 10% from account balance)
- EA should trade with SL and TP.