Average Profit Performances for Daytraders?
The answer to this question is almost impossible to know since the daily earnings of a daytrader varies depending on many factors. If a trader ( gold trader or others) knows how to trade efficiently with proper money management then they are on the verge of financial freedom. Research and statistical data show that a number of factors are directly interrelated with the average earnings of day traders.
Factors affecting average daily earnings of successful day trader
- Size of the account balance
- Leverage of the trading account
- Average daily potential percentage gain
- Trading stability and winning percentage
Size of the account balance
The size of your account balance plays a significant role in the daily average earnings of a successful trader. Trading in larger account sizes with proper money management is a practice more likely to generate a decent amount of profit for a daily trader in the long run.
Leverage of the trading account
The Forex market is capable of generating a large amount of money because of the leverage provided by forex brokers. But most newbie traders fall into the trap of high leverage and end up blowing their account. Professional successful day traders utilize their leverage in a conservative way in analyzing the risk and potential profit factors before taking a trade.
Average daily potential percentage gain
This is the key factor in the variation of income from in the lucrative forex market. Every successful day trader has their own pip value preset depending on their account size and this directly contributes to their daily earnings. Higher pip gains usually result in a large amount of profit in the forex market.
Trading stability and winning percentage
This is the most important parameter to consider in order to be a successful day trader in the forex market. Are you thinking to get rich quick by trading Forex? If so then you are likely to blow up your account after hitting a large profit, washing all your gains in minutes.
Professional daily traders focus on their stability and their winning percentage. In a word, this is the key ingredient for staying in this business. A stable trading system with a decent account balance is more than enough to lead to a successful forex trading career. Check out how to Invest in Gold.