This is a relative question and as such cannot be answered directly without taking a lot of things into consideration. A trader’s earnings from the forex market can vary depending on the skills and the leverage used in the trade. Some traders earn as much as double their trade capital, some make about 5 to 10% of their deposits, and a whole lot of others make very little but mostly nothing from the forex market. The last set of traders are the ones that are so sure that the forex market is a scam – because they have tried it and made no money from it, rather they lost what they invested in it.
HOW TO IMPROVE YOUR EARNINGS AS A TRADER
So much has been said of what traders need to do to increase their earnings in the forex market. In most cases, the same things are said over and over again, but many traders still do not get it. The success rate in the forex market has not increased. More people join the forex market every year and a lot leave, but it still did not change the success rate of the market. What could be the problem?
The single most important reason a lot of traders cannot increase their earning power is because they do not pay attention to tiny details. The forex market is free for anyone who wants to join so long as the person has a computer/phone and internet connection. No one cares about your trading skills while you are registering and depositing money into your forex account to trade with. No one even knows if you are real or a software program designed to trade the market. The point is the market is open to anyone to freely loose or earn from. It is left for the trader to take out time to study the market and develop skills on how to trade the market – which is the most viable way to make good earnings from the forex market.
It has been said that there are traders who did their absolute best but still did not earn anything from the forex market. In cases like this, the traders were probably concentrated on the big things and not paying enough attention to the tiny details. According to renowned forex trader, do not put your focus on the money because is a distraction, your focus should be on how to get a trade right. This goes to say that the psychology of the trader affects the way the trade goes more than we know.
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