Is it possible to double my money in one month doing currency trading?
March 18, 2009 by Currency Trading Tips
Filed under More Currency Trading Answers
Can you answer cerbphan’s question about Currency Trading?:
I can do it using a demo account, but can live accounts be handled the same way as demo accounts, or are there any hidden tricks?
well, currencies are very predictable now-a-days
Thank you guys
I don’t intend on putting my life savings in it, but only a few hundred bucks
Currency Trading Signals
I can do it using a demo account, but can live accounts be handled the same way as demo accounts, or are there any hidden tricks?
well, currencies are very predictable now-a-days
Thank you guys
I don’t intend on putting my life savings in it, but only a few hundred bucks
Currency Trading Signals
Currency Trading Feedback: It’s possible, but not likely; also highly speculative.
Currency Trading Feedback: When you use real money, you’ll probably be trading with market professionals who will have much more information than you have. It’s possible for you to double your money, but not likely. Don’t place at risk more than you can afford to lose. And if you’re trading currency futures contracts, understand that you can lose much more than your initial investment. Diversify your investments. That will improve your overall chances.
Currency Trading Feedback: probably not
Currency Trading Feedback: You must know that speculation never always yields good assured returns. There maybe times when you will see your money doubling at no time, but then you would also lose at the same pace without even realising.
So ya it is possible to double money the same way it is possible to earn money in a casino, but it is not the right way to earn money and you may end up losing more than gaining.
Instead, invest smartly and put part of your portfolio for trading but with ensuring that you are putting stop loss. This way you can get best of the both.
Curency Trading is predictable now-a-days but there is high volatility due to uncertainty, and when the reversal will come no one knows. So only put that money into trading which will not affect your financial position even if you lose.
Currency Trading Feedback: It’s possible
Currency Trading Feedback: buy euro vs USD
Currency Trading Feedback: Sure you can double your money and you can lose it all too. That is the problem with taking high risk with leverage.
The problem is if at some point you lose it all, then you have no assets to use to earn it back. Broke is broke. That is the nature of risk and why imo it is more important to protect against losses than take high risk for possible high gains.
Currency Trading Feedback: Hi Cerbphan,
It’s possible, but not if you are just starting out. You’ve got to have realistic expectations.
There really isn’t any hidden tricks when it comes to live trading compared to demo trading. The only difference is the trader. When real money is at stake, traders trade differently.
It’s a lot different to trade, knowing that there is nothing at stake (in a demo account) than when you are trading with actual money.
Fear and greed hit a lot of traders, and they just can’t handle it. If I could give you one piece of advice, it would be to use proper money management. From the sound of it, it sounds like you may be overleveraging your trades, if you doubled your account in one month, on your demo account.
No matter what, I wish you the best of luck.
Hope this helps.
Currency Trading Feedback: Yes it is possible now, try USD EUR GBP.
Currency Trading Feedback: NO
If something was predictable it would quickly become un-predictable.