How do I make $50 a day from forex trading?

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Posted by Gates on Tuesday October 18, 2011 at 15:18:3:

I would like to know if you guys have any strategy to make a profit of at least $50 a day from trading forex

Re: How do I make $50 a day from forex trading? Posted by Felix on Tuesday October 18, 2011 at 15:48:20:

To make that kind of profit, you should also be ready to risk or lose at least $25 a day. Now multiply $25 by 20 trading days = $500. So you should have at least $500 before attempting this. I assumed $50:$25 as the risk:reward. So you can use that sort of strategy when opening positions.

Scenario 1
Capital = $500
Daily trades = 2
Risk per trade = $10 = 2%
Reward per trade = $20
Target = 40 pips
Stop loss = 20 pips

By the end of 20 days, if you had wins all through, you should have a total of $800 profit

Scenario 2
Capital = $1000
Daily trades = 2
Risk per trade = $15 = 1.5%
Reward per trade = $30
Target = 40 pips
Stop loss = 20 pips

By the end of 20 days, if you had wins all through, you should have a total of $1200 profit