How Much Money Can I Make Forex Day Trading?

Many people like trading foreign currencies on the foreign exchange (forex) market because it requires the least amount of capital to start day trading. Forex trades 24 hours a day during the week and offers a lot of profit potential due to the leverage provided by forex brokers.

• Risk management is a critical part of forex trading strategy, usually done with a stop-loss order.

• Day traders want to aim for at least a 50% win rate.

• A higher win rate gives you more risk/reward flexibility, and a high risk/reward ratio means that your win rate can be lower and still stay profitable.

• With careful risk management, an experienced and successful forex trader with a 55% win rate could make returns above 20% per month.

This simple risk-controlled strategy indicates that with a 55% win rate, and making more on winners than you lose on losing trades, it's possible to attain returns greater than 20% per month with forex day trading. Most traders shouldn't expect to make that much; while it sounds simple, in reality, it's more difficult.

Even so, with a decent win rate and risk/reward ratio, a dedicated forex day trader with a decent strategy can make between 5% and 15% per month, thanks to leverage. Remember, you don't need much capital to get started; $500 to $1,000 is usually enough.

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