How much do you earn a day while trading forex? Could you earn 100$ or more than 100$ a day? What about the possibilities of making 100$ a day?
This and many such questions might click in your mind if you want to be a forex trader. It’s OK trading buddies! We’ve decided to cover all confusions regarding making money a day trading forex through this article.
Get through this question first: Is it possible to make 10$ day trading forex? Yes, it is possible under certain conditions. For the low initial deposit, the chances are limited but still available. You can easily make 100$ a day if you are a consistent trader and have more than 30,000$ deposit.
Though it seems to be hypothetical, as the forex market is highly volatile. If the possibility of making a hundred a day is high, the risk of losing is also higher.
Let’s jump into the matter to know more facts.
Making 100 a day is Possible Or Not?
If we talk about the possibility, YES, making 100$ a day is POSSIBLE. This system has potential, but only a few people have the skills and funds to achieve that level. If you’re thinking of making 100$ a day by investing 100$ you’re wrong. Your minimum capital should be more than 30,000$ for this.
Suppose you make 100 trades per month( that would be 5 trades per 20 trading days). In this way, you can meet an average profit ratio of 3%. But it depends on how many trades out of 5 per day are winning trades.
So, you can’t make any fixed prediction about profit and loss. It’s more like a gambling game. If you earn 100$ in a moment, you can lose 100 $in the next moment.
How making 100 a day is possible
From the above discussion, it’s clear that making 100 a day is possible. Now the question is how: how can you make this win possible? There are heaps of ways that could allow you to do this. But the bad news is that there you might require endless efforts or even loss of funds.
So, keep reading to check out possibilities:
Trade new currency pairs
If you want to make money on forex trading, fixing on EUR and USD is not a good idea. You should keep on changing currency pairs as the GBP USD market has much future potential. For this, it’s better advice to keep two accounts.
Focus well on financial forecast
To be a successful trader, market forecast matters a lot. If you keep your knowledge up to date by listening to the news, you can better predict winning chances. Bloomberg and other channels give vast coverage to market fluctuation and trends. To make 100 a day stick to market news!
Properly plan your trade
If you go on with a proper plan you can get a high-profit ratio. But it depends on the market situation as well. Plans may not secure you 100 daily in forex. However, you can make 60$ if you utilize the leverage factor smartly.
Here’s a video to learn making 100-200$ a day trading forex.
Why Making 100 a Day is Challenging
What makes 100 $ a day a challenge? Is trading on forex worth it? Why do most of the traders fail to achieve such winning goals? If you’re thinking you can’t make 100$ with a micro account, you are right to some extent.
Though making 100 a day is possible out of small funds but it requires proper forecast, planning, and currency pair selection. But it’s more challenging. Keep your dreams high for motivation!
Below are factors that are the main blockage in making 100$a days:
Leverage is on one hand the beauty of the broker system. On the other hand, it’s highly risky. Here the size of the trade is a determining factor. Whatever you may choose, should be related to your set leverage. Otherwise, you will soon end in zero.
Market UPs& Downs
The currency market is highly volatile. What it is now, will totally change in the next moment. If you think you can better understand these quick ups and downs, you are a man of forex. If you focus less on market trends, making 100$ a day is only a dream for you.
Only luck cant bring 100 a day for you. If this happens one time, it may not happen in your next trade. With luck, you may need to have enough skills, knowledge, and training to go up to this level.
High Spread Broker Choice
When choosing a broker, make sure it’s a regulated broker. If it’s an unregulated broker, no matter how much profits you make, the broker will not let you withdraw your balance. Usually, a high spread broker does stop hunting shitty jobs in the back end. We recommend choosing a low spread regulated broker, icmarkets is one of such broker.
Best Strategy To Make 100$ daily
Making 100$ a day is both reality and hypothetical. What you earn per day depends on what the market gives you per day. You can fix your targets, but you can’t fix the market situation. It’s always volatile. According to a millionaire trader’s opinion.
The best strategy for making 100$ a day is to have an account for a big initial deposit. To mitigate the risk factor, open a high yield savings account with a deposit of 100,000$.In this way, the possibility of making 0.1% per day will be high. Always choose a trading strategy that suits your personality.
Making 100 a day is not a dream but making 100 daily in forex is a real dream. There is no magic formula, no rule of thumb for making 100 a day consistently. It’s a game of making and losing both. If you make 100, you will have to lose some bucks also. Maybe they are less than 50$ or more.
So, the best strategy is to stick to market news, monitor indicators and charts. Try to follow the right forecast as many of them are always true.
Can I make 100$ a day Trading
Yes, it is possible if your initial deposit is between 30,000$ to 100,000$. Because a 0.1% ratio is not easy to achieve daily with fewer funds. Chances of making 100 a day with nano accounts are quite low but still there for expert traders,
Can you make 200$ a day with forex?
Yes, you can. It depends on the initial deposit, trading strategies, and the trader’s attitude. If your deposit is low, the chances of making 200$ a day are not bright. But it depends on whether the market goes in your favor or not.
How much do forex traders make a day?
It depends on the number of trades per day, market situation, initial deposit, and trader’s attitude. On average, traders can make 5 trades per day and 100 trades per month. For dedicated traders, each trade may cost 20$ without exempting commission and other fees. For a 30,000$ deposit with leverage of 4:1, traders can earn 5500$ monthly.
It’s clear from the above post that making 100 a day in forex trading is possible with certain conditions. If you follow the right strategy, the right currency pair, and your initial deposit are high enough, you are likely to make 100 easily.
Otherwise, with nano accounts, it is possible but quite challenging. However, the Risk of losing goes side by side throughout your trading journey.
Have you ever made 100 a day out of a nano account? If yes, what were your strategies? Do share with us, we’d love to hear from you!