Looking specifically at my 2017 performance above:
Let's assume that you are a single MINI LOT trader of ALL* trades that were suggested.
- You would have made 621 trades.
- Cost of trading = $621.00 ($1.00 per trade, this is cost of USD major pairs cross-rates are slightly less and the EUR/GBP is c.$1.50).
- Gross Income from 621 trades = $12,220.00.
- Less your cost of sales of $621.00 = NET INCOME of $11,599.00.
- Less your ANNUAL SUBSCRIPTION COST $995.00 (equivalent to CAD$1,250.00) = 10,604.00.
- From your investment of $621.00 to trade you could see as much as $10,604.00 in return.
Obviously you would need to fund your broker account as well. In my opinion to trade single MINI LOT trades with the WEEKLY FX PREMIUM you would need to fund your broker account with at least $7,500 to accommodate the number of LIVE trades and LIMIT ORDERS in position at any one time to avoid issues on not enough balance to prevent margin calls. After 3 months of operation this should no longer be an issue.
* In my opinion the amount of RISK placed on trades varies by currency pair. As a WEEKLY FX PREMIUM subscriber you will have access to my RISK / POSITION SIZING data that highlights my approach to trading different currency pairs. I would, for example, apply a different set of rules to trading the EUR/USD as to the GBP/NZD.
From the example above, obviously if your broker account is well funded, you may wish to trade 2 x MINI LOT trades as the normal size or maybe 5 x MINI LOT trades. It is simple mathematics to factor up the potential returns based upon whatever approach and RISK TOLERANCES you have as a trader to see your own personal income potential.
As long as you trade with real and effective RISK MANAGEMENT and POSITION SIZING principles in place and trade in accordance with your TRADE PLAN, it is possible to make a great income from trading Forex whether on a FUll or Part-time basis.
At ALL times you need TRADING DISCIPLINE in place to ensure longevity in trading. This in my opinion is the key and fundamental to success.
PLEASE NOTE:
You must ensure that with any LIVE TRADING ACCOUNT you should have a sufficient balance in your broker account to accommodate the risks involved in trading. Trading with leverage can be profitable but on the other side a painful lesson if you do not control your RISK MANAGEMENT.
Personally, I now trade zero leverage as I MANAGE RISK tightly, if you use leverage of 100:1 or higher you need to use TRADING DISCIPLINE. This is crucial to your trading success, in my opinion, you should NOT manage an account in which you trade too large a position size as this will only result in a margin call from your broker, which are increasing in size. The average used to be sub. 40%, now its closer to 50% with many brokers. You must trade and operate an account sufficient to cope with the swings that you get with trading from profit to loss, as mentioned already, trading Forex involves RISK and this MUST be managed.
If you have questions contact me via the CONTACT TAB on my home page.
I am here to help.