How much do forex traders make is a hypothetical question, but we all want to know this question. Although the forex market is the most lucrative, when any starts forex trading, they get scared of this market’s complexity and uncertainty. In a second, you can lose your whole capital. Some get success with just 2 years, and some makes lose consistently for the whole five years. In the forex market, uncertainty is the most common thing. That’s why hardly you will get any direct answer to this question online, but today I will reveal the secret !
There are lucky traders like Chen Linkuy, Patrick Nill, K. Takegawa, and George Soros. Chen Linkuy started trading with just 100 dollars, and within just a few weeks, he made a fortune of $100,000 trading forex. Big boy George Soros once broke the bank of England and made 1 billion dollar profit. Patrick Nill and K. Takegawa hold records of gaining 136% & 123% net return consecutively. But the fact is that these lucky traders are not examples; rather, they are an exception. As a retail trader, you need to know how a retail trader and prop farm trader make each month. So let’s jump to the point!
How much do forex traders make a month ( Retail traders trade with their own money)
If you are an individual trader and trade with your own money, then you are independent in taking your own risk and making all your trading decisions. In that case, For says you have a winning strategy and are a successful retail trader. You use no more than 1:100 leverage. As you are a retail novice retail trader, your strategy is aggressive. If you deposit 500 US dollars, you can earn up to 1,50 dollars. If all the rules remain the same, the more money you deposit in your account, the more profit you will make at the end of the month. For say, if you invest 10,000 dollars, you can make up to 2,000 dollars monthly. I am giving here just a rough and average idea. Many traders make much more than this, and many lose whole capital thousand of times.
|Deposit||Forex pairs||Leverage||Traded Volume||Possible profit|
|$100||Only Eurusd, Gbpusd||1:100||10||$30|
|$1,000||Most trendy pairs like Eurusd, Gbpusd, Usdjpy, Usdcad Cadjpy, Eurjpy, Gbpjpy, Audusd, Nzdusd, Audjpy, Nzdjpy, Gbpcad, Gbpaud, Eurcad, Euraud.||1:100||100||$300|
|$10,000||28 major forex pairs||1:100||1,000||$3,000|
How much do forex traders make a day
With investing 10k dollars, a forex trader could make 300-500 US dollars. Traders like Jeff Xie and Thomas Helling can make much more than this amount as traders like them make a net return of more than 100% even in a single day!
How much do retail traders make on average? (Salary)
If you are not an independent trader but trade for any other entity, then the calculation will be different. According to ZipRecruiter, The monthly salary of a retail forex trader is $4620 in the United States.
how much do professional forex traders make
Those who work in any reputed bank, hedge fund, financial institution, or company are considered professional forex traders. The salary of any professional forex trader salary varies from country to country and even from area to area. According to Indeed, the average salary of a professional forex trader is $84,315 per year plus $30,160 per year. Remember, this is just an average. Many institutions like Citi trader offer more than $2,00,000 annually for a forex trader.
how much do professional forex traders make per month
On average, professional forex traders‘ salary is 8,000 dollars per month. But it is average. Companies like Goldman Sachs, Barclays, HSBC, and Citi Trader offer more than 13k US dollars per month plus commission. One more thing, remember that these salary figures are just an average. And who knows whether professional traders only trade for prop farms or not? They can trade their own money also. Then their monthly income could rise 10 times their salary.
how much can you make as a forex trader
As a forex trader, you won’t have any barriers to making money—all you need is a rock-solid strategy. Follow proper money management rules. No matter what happens in the market, you should always abide by your own created trading rules and respect your trading rules. Now I will give a practical example of how much you can make as a forex trader if you use the FBSBSB in your daily trading.
Strategy name: First Bear-Small Bull-Second Bear (FBSBSB), First Bull-Small Bear-Second Bull (FBSBSB)
Pair: 28 major forex mairs.
Time frame: 4 hour only.
We will wait for the second bear candle if we find any strong bear candle and then any tiny bull or doji. If we see these 3 candles successively, we will place a sell trade at the low of the 3rd candle. Our stop loss will be above the first bear candle. Our profit target will be no more than 1:1.
One more example for buy trade
Look how beautifully the price hits our target and then starts to fall. Remember, you will get too many fake signals in this strategy. But it would be best if you did not take those signlas. The third candle is significant here. The third bull candle will open from the last candle’s closing price and rise far behind the second candle. Look again at the setup. I hope you get my points.
Which signals should you avoid in the FBSBSB strategy?
Remember these fake signals. We will always avoid these types of signals. No matter how lucrative they look. We always need 3 candles to form our FBSBSB. No more than 3 candles. If three candles’ body is the same height, then avoid it. It is a false signal. To validate our signals or formation, we need our second candle to be a small one or doji one. And most importantly, if the third candle doesn’t rise or fall far behind the second candle, then there is no trade.
If you follow these strict rules and apply this system, then you will get at least 2 trades in each pair every month in the 4-hour time frame. On average, if you get 90 pips in per trade, then for 2 trades, you will get 180 pips. If you trade 28 pairs, then in one pair, you get 180 pips. For 28 pairs, you will get an average of 5040 pips monthly. If your balance is 5k USD and you only use a 0.20 mini lot, the per pip value will be approximately 2 dollars. So For 5040 pips, you will gain 5040 × 2= 10,080 US dollars.
How Much Do Forex Traders Make Follwing FBSBSB strategy ?
|How many trades in a pair/month||≈ 2|
|How many pips will be gained||≈ 90|
|Total Profit= 90 pips × 2 trades=180 pips × 28 pairs= 5040 pips × 2 $ per pip||10,080|
So If any forex trader follows the FBSBSB strategy and his deposit is only 5k, he can easily make up to 10k dollars. If your deposit is more than that, just increase the volume, and your income will increase !
One last thing professional traders don’t withdraw money every month. They compound their money by re-investing. So just think, if you invest all the profit again next month, how much money will you get? All you need to do is just follow my strategy correctly and abide by the money management rules I stated above.
1. How much do forex traders make a day?
If any trader uses the FBSBSB strategy, then he can make up to 385 dollars a day
2. Can Forex make you rich?
Yes, forex can make you rich, but you need a rock-solid strategy like FBSBSB. With this strategy, even investing only 5k, you can earn up to 10,080 monthly.
3. How much does an average forex trader make?
On average retail traders make 300/400 dollars monthly. Professional traders can make 8000 dollars monthly.
4. How much can you make with $1000 in forex?
If you trade using a mediocre random strategy everyone follows, you can make up to 300/400 dollars monthly. But if you apply the FBSBSB strategy in your trading, you can increase your profit up to 2000 dollars!