Forex Indicators

How Much Can I Make In The Forex?

I have received some good answers on here about avoiding penny stocks. One suggested I go with trading in the Forex. How much money can I make on a $1,000 dollar trade for one day? Thanks everyone for your help!

Public Comments

1. Nothing. My dad is a very smart man with an MBA and he has made nothing. He went to a meeting with about 4-5 Forex traders and they made nothing. Your chances of succeeding, like any other MLM, is infinitesimal.
2. almost all of the money in Forex trading is made by pros. They'll welcome your particiaption -- as they try to take every penny you're willing to risk and then some. 1k USD?? you can lose that in an hour. easily. The successful "Turtle Traders" some 20 years ago were trading 4 to 8 contracts in Forex [when they were in], which was about 16k margin at the time and 800k face value of their contracts. [i might misremember these figures.]
3. Depends on the currency youre interested on trading. Personally i have invested in the iraqi dinar Right now with $1,000 you can buy aproximately 1,000,000 dinars. If you want more info on this go to http://.www.incestorsiraq.com Good luck.
4. Honestly with $1000 you probably won't be able to do much. It's possible to make money on Forex with just $1000, but the odds are against you. I make money on Forex, but it took me time and I spent much more than $1000 in educational products. Forex is one of the most challenging markets and if you can't commit money and time to it, you'll probably lose.
5. It's not all doom and gloom. There are many successful retail forex traders out there who do quite well. All of them started with a small trading budget. There are also many sites where you can learn forex for free and practice trading using a demo account, also free. Check out: www.babypips.com www.forex4noobs.com www.forexfactory.com