Question for the succesfull forex traders

[piptrader]

I am new here as well as new to trading Forex. I have searched quite a few different forums and from what I have found is in general most people seem to feel that the systems that can be bought from the "guru's" are, in general, not worth it. I can't help but wonder though why they wouldn't be. Is it because they tend to simplify it too much so as to appeal to people to the point that they tend to give false signals? I am suprised that there doesn't seem to be at least one system that is generally regarded well. Maybe there is but I have not heard of any yet. There are so many indicators for a newbie starting out it is hard to figure out where to start. Any advice on which indicators you use as the main go to indicators to decide whether or not there is a set up forming that is worth futher investigating? I also find it a bit disconcerning that whenever the question is asked if anyone is successful enough to do this full time there are very few, if any, who are able to yet. Is that because as people become sucessful they tend to not bother visiting these forums anymore? For those here who are successful, what % of return can you confidently say a person could achieve with enough time and practice? I know everybody will have different results and I don't want anybody to give out personal information like that but I am more interested to know what kind of return is a realistic goal that can be achieved relatively consistently. The expected percentage of return per year on an account can make a drastic difference on the size of the account required to make a living off of. Sorry for the long post but I am torn between thinking that I can achieve my goal of trading successfully and the prospect that I can spend as much time as I want studying this but it will remain an elusive goal. TIA.

[Kolyo]

Welcome to CommuniTraders piptrader!

If you are very new to binary options trading best to start by reading our Binary Options School. It is the best place you could start if you want to learn and achieve good results soon. I couldn’t say how much is exactly the percentage of the wining traders in BO, but if we trust the comparable statistics from forex trading – we could say that it is no more than 3-5% of all wanabe traders. That is small but also large number, if we compare it to other high risk and high reward professions like surgery or architecture where the success rate is even small. The other important moment in your question is the monthly percentage somebody could achieve with BO trading. Like any other style of trading there is huge variety of profitability depending on the risk profile and skills of the trader. If the trader is highly skilled and experienced and is using very high risk profile it could easily achieve double digit returns even to double the account size for one month. If he is more conservative 1-5% a month will be quite satisfying for him.

It depend also on the capital you are putting at risk. If your account is let say 1 million $ and you risk 1% per trade, i.e. 10k that is a huge sum and for you few percentage of return will be quite satisfying but if you trade only 200 USD account to make few bugs a month will be nothing and you will want to achieve faster compounded return and to double and triple your account in very short period of time. Of course this is possible but with much higher risk involved. So there is no number to be cited but a wide variety of risk profiles and account sizes so it will depend only on you capabilities and starting capital. I could say however one important thing – best way to start real trading is with very small expectations. If you expect break even you will trade calm and will be happy if you achieve that goal. If you expect double digit returns a month that will make considerable psychological pressure on you and finally you will lose your money before you are able to switch to less aggressive style. Everything depends on you, but firstly try our demo trading platform cause it is absolutely risk free and can help you greatly in your learning process!

[Michael Hodges]

I can say that I average about a 60% success rate with binary at this time, you can check it out over at CT.