It’s depressing to see the amount of garbage information out there. Forex is an opportunity that many people are going to lose sight of. Most people become blind-sided by the false claims and promises, and want to be millionaires overnight or even within their first year of trading. I’m not saying it’s impossible, but be realistic.
If it would take 2 to 3 years of commitment, studying a few hours a day (almost like college) would you, do it? What if after 2 to 3 years you could begin making an extra $25 to $50 a day?
At year 5, maybe you could be making $100 to $200 a day.
In 10 years, you could be making $1,000 to $5,000 a day!
This is the realism the Forex market is missing. 10 years is about how long it takes to become a doctor. With about 260 trading days a year, that’s $260,000 a year. If you manage to fall on the other spectrum of making $5,000 a day, that’s $1,300,000 each year. Then it’s all uphill from there because you can apply the compound effect.
But if you’re serious about actually learning how to master the art of trading, you can’t be blinded by those fake promises. You need to set real goals for yourself. If you reach them sooner, then that’s a plus. But, I would highly advise anyone from entering this market if they are not mentally prepared to spend at least ten years studying and practicing, and developing themselves personally and professionally.
Traders in their first year can have days where they make $5,000 or even $10,000 in a single day. I know I did. I also know many traders who made that much one day then proceeded to lose even more money the next day. That’s a very expensive lesson that could be avoided should you decide to be patient. Consistency is key!