How Much On Average Can A Forex Trader Make Per Day?
I don't think you can make money daily from forex trading. It is not a job where you get paid for sure if you show up.
Short Answer: It is not right or realistic to say how much you can make on an average per day from forex trading. It depends on your system's edge, your drawdowns, risk per trade, ability to execute the system, and so many other things.
Whether you are a discretionary trader or a systems trader, most of these I think will remain the same for this argument. But what is guaranteed is that almost certainly, you (any trader) will lose.
You have to start thinking in a probabilistic mindset, whatever your trading style or expectation may be.
You will have losing days, as well as winning days. Think of trading as a series of trades. Let me use this example.
If you are going to take 200 trades in a year, just for example, one intraday trade a day, then your edge will define the total number of winning days that you can expect.
But the distribution will be totally random.
You can have weeks where you are losing money, and then go on a winning streak. 50% hit rate system does not mean that every other day would be a losing day, it is over a larger sample size.
So, it is really hard to say how much money you can or will make, or even make at all. It is mostly random.
If your system has some edge, your job as a trader is to execute it, regardless of the outcome. I'll assume just for this example, that you have a system that works flawlessly on backtest & even when you are actually executing it in real market.
Assume a 50% hit rate system on EUR/USD for a setup, just for example.
Win Trade
Let us assume that on a winning trade you make 15 pips, hypothetically.
Loss Trade
You lose 10 pips stop loss.
Over the next 100 trades in next 6 months, let us assume & ignore the random distribution for this example. You are guaranteed to lose 500 pips (50*10). And you will make 750 pips (15*50).
So, net-net 250 pips in this example.
Assuming that you are trading 2 Mini lots, then that's $500 in this period.
All this is to explain the probabilistic nature of trading. This by no means is a real trading situation. Your system can have totally different distribution & hit rate. It might not even make any profit at all.
And you cannot really expect to make much from a $100 account, unless you are risking it all on each trade. And this is an easy way to lose $100 also. If you are okay with losing it, then it is alright.
My strong advice is to not come intro trading unless you have a real income on the side, so you are not risking any money that you cannot afford to lose. And ability to fund a proper sized account.
There is an almost guarantee of losing in trading. I like this phrase that only the best losers win in this profession.