That guys a retail trader, the numbers you quoted are more institutional traders such as banks who trade the currency and derivatives market. Forex is the riskiest market to trade in. Most derivatives are WMD's, like quoted in the film Wall Street 2 because of the extreme leverage available. Listed from very risky to low risk. 1. Forex 2. Futures 3. Options 4. Stocks 5. ETF's (depends) 6. Bonds 7. Cash + Interest
My target is also $10k per month. It would be enough since I also plan to have a real well paid job after college. However, I doubt that I would stop once I reach that goal.
I'm aiming for six figures a month, but the four that I earn at the minute per month will do for now ha!
Put $10,000 into the markets and make it grow around 10% (the S&P 500 typically grows 10% YoY on average) for the next 30 years, by 2041 you should have a NET worth of around $400,000 then in another 10 years it'll grow to around $1,000,000.
Six figures per month or per year could be a huge amount to one person but PEANUTS to another. It depends on a person's perspective of what is a lot and what is not.. personally, $10,000 is a lot of money to earn per month but is absolutely useless if you spend $11,000 per month. If you earn more than you spend, you will always have money. If you can earn $10,000 per month, then you need to know how to scale that up if you want to earn six figures a month.. after all, anything's possible if you are still breathing LOL! Keith
I agree $10,000 in India is like a million dollars a month but in the UK it's around £6,000 before tax, it's pretty much a normal good sallary of around £40,000 after tax. I mean teachers in the UK are on around £30,000 a year.
hmm very interesting posts here, some are inspiring, I still struggle to make any money online, Although I haven't been doing this for very long, well I have but I usually give up on most sites before I actually spend time to do anything, I guess Im unpatient. I did however flip some websites and did profit 600$ in a week. But haven't reproduced that.
I think making money online is a skill set and a mind set that can't really be taught, not everyones going to be successful. Some people are better at some things than others, like Warren Buffett is one of the best investors in the world. His mother once said that Warrens like someone who can see in the dark, because he can see opportunity in things that you can't or missed. Some people will be able to indentify opportunity online very easily because they are just gifted in that way. I can't play football very well but there are those who play it extremely well and go on to make millions a year, there are those who can lead and go on to run mult-billion dollar companies and earn millions. Everybody has some kind of talent, what it is only you know and only you will be able to discover it. If you've been at this a long time and I mean 2-3 years and still struggle to make money maybe making money online just isn't for you, it's not for everybody. You may try something else and start having real success with that. I have my talents but I discovered mine from a young age so I'm lucky in that sense, you may have a talent that's worth something to the world either offline or online. Just work out what it is and most importantly be trueful to yourself, the worst thing in the world is when you start lie to yourself it leads you down a path that always has a dead end.