How hard is it to make $100k-$200k in forex?

Hello all.
I’ve investigated forex briefly. I like the idea of a market available nearly 7 days a week. Also understand the big job it would be to learn and trade forex.
What I’m interested in are the following.

How hard is it to make $100k–$200k a year?

What time is involved say per week(in your opinion) to achieve this?

An idea of what you as a forex trader have achieved, how long it took and what problems you encountered.

My purpose with this questioning is this. I’m happy to put in the work and time if I see a decent chance of success.

Look forward to your stories.

Ptony1948.

Hi mate, I get the sincerity of your question, there are those that want to know how to make the most money in the quickest time possible, I don’t believe that is the aim of what you are asking.

I am a FX trader of 8 years, full time FX trader for the last couple, and while I don’t quite earn the numbers you suggest, I earn more than enough to keep me out of the long hours, long travelling rut that most people in their fancy city jobs have to do, that downright nearly killed me (cancer at 30). I earn what I need to earn, and I started with a low base due to illness, another year and those numbers are right in the ball park doing exactly the same as what I am doing now, if I want to.

A better question really would have been what types of percentage can you earn from FX, I for example look to average around 5% per month, with no compounding, this would require a base of around 330K. With compounding (as I do, hence the claim above), well things are much better than that. Work out what percentages are possible over time, what base you have, and you have your potential income.

In terms of time, it can become all consuming, especially, if this is your first foray into trading, until you have blown your first account up. If it is your first time, I sincerely hope you do not, but I suspect, like most of us, you will, the markets little way of telling us who is boss. If it is not your first time, well I am sure you have been there and got the T-shirt.

Like mentioned above, FX is not really a 7 day a week market, it is theoretically 5.5 days, but it is not even really that as Asia hours can be very quiet if you are looking at any type of shorter term trading. Assuming you are in Australia, keep this in mind as the best times to trade if you are day-trading or swing trading will most likely be around dinner time on the east coast and late at night/very early morning.

I wish you the best of luck, if you are going technical, FX is one of the best markets to trade, but find a balance between FX’s crazy hours, and your health, your trading balance will thank you for it.