What Size Forex Account Do I Need To Actually Make Money?
A lot of people get involved in Forex trading because of the huge (and often unrealistic), claims of making a lot of money from very little money. But in practice, they soon find out that making a lot of money without a decent amount of starting capital is just not happening… even if the trading results are good.
This is something that happens a lot:
You see performance in terms of pips gained or percentages and everything looks great. But what do those performance measurements really mean in terms of money? That is the real question. And that is the question each trader is going to have to answer for themselves if they want to make trading worthwhile.
Here is the raw truth: Most at home traders are underfunded for their profit goals!
A lot of people getting into trading have a dollar number in their head they want to reach. BUT… they have an account size that makes reaching this number near impossible. (This discrepancy leads to making a lot of mistakes like jumping from one strategy/service to another, using too much risk, trying to “trick” the market into giving windfall profits, etc.).
In short, they try to make up for their lack of starting capital by searching for trading methods that produce extraordinary and unrealistic results. This is a quest that never reaches its destination.
I’ve actually written a report about this called: Forex “Money That Matters” Course. In a nutshell, it is about how to make more money trading Forex even with a smaller account size. This is the missing link most at-home traders have when it comes to making profits that actually mean something to them.
What I propose is actually realistic. As a matter for fact, this is the advanced money management strategy I use myself when trading my accounts. So, I know first hand what can and what cannot be done.
Now… I could give you advice like:
- Concentrate on percentage gains instead of dollar amounts
- Focus on becoming a better trader and your psychology instead of the money
- Take a long term view of trading and grow your account over time
All this is good advice.
But who are we kidding?
If you don’t figure out how to start making money that matters to you… you are not going to stick with Forex trading for very long. And the truth is, you need to stick with ONE thing (Strategy/Service), for a decent amount of time to gain the correct perspective of trading and start making life changing profits.
(This blog post goes more into this concept: Forex Investing Live Signals: Subscriber Perspective).
Traders who have started trading with a small account and been disappointed with their monetary gains have touched upon something that every successful Forex trader has had to struggle with. And while your individual answer to this is going to be personal and based on your relationship with money, current financial situation and your goals… you can learn from other at-home traders who have struggled with this same dilemma.
This is why Forex Investing Live, my Forex signals service, is so much more than a signals service. You see, a lot of people need a lot more than just signals that produce positive pips over time. They also need guidance as to how to deal with these questions that come up. Here are some ways I am trying to help my subscribers (besides the signals):
- Free Forex “Signals Success” Course
- Forex “Best Practices” Course
- Forex “Money That Matters” Course
- Forex “SOS” Course
- Forex “Insider Pips” Report: Simple Forex Trading For A Lifetime Income Your Blueprint For Financial Security
The point is, you can make meaningful profits trading Forex. But there are going to be some important questions you are going to have to answer along the way. Using a service like Forex Investing Live can help you answer these questions by gaining access to my solutions to the same questions.
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