A curious novice MQL programmer asked me today if it was possible to get at least 3% profit each month in an email request. Even Warren Buffett, one of the richest men in the world, is only able to generate a 20% profit on his investments annually. According to what I’ve heard, an annual gain of roughly 36% from a 3% monthly profit would be significantly greater than Warren Buffett’s typical return. Does that imply that it is impossible? Actually, if you want or need to reach at least 3% per month, it is tough to find and run a lucrative solution over a longer period of time.
Essentially, the goal is to minimize mistakes, especially in the beginning, and to lose as little money as possible rather than to instantly turn a particularly high profit. The majority of new traders lose the majority of their trading capital within the first few months. Therefore, the first step is to minimize losses while you are still learning and have enough capital rather than to maximize profits. This has a second issue in that every month is a little bit different. Profits from automated trading cannot be compared to a steady paycheck.
There may be months when you make less money, but you might make a little bit more money the following month. There is also the issue of people constantly wanting to change and improve their own systems. If you can’t follow your own rules, you will, at least by the third or fourth exception, know that you made the incorrect decision at the incorrect time. Frustration from this can give rise to actions like trading in revenge. Humans are emotional, and as a result, awkward situations or reckless actions arise frequently.
Despite having good intentions, it frequently has disastrous effects. Additionally, a lot of people mistake automatic trading for gambling or a form of fortune telling. However, the actual focus is more on statistical probabilities, which allows for some exceptions to the rule. You shouldn’t assume that you will make that much money, on average, every week or month you trade. Whether you like automatic trading or manual trading, you will essentially struggle if you can’t maintain your own trading technique over an extended length of time, create a sound strategy, abide by your own standards, and stay away from emotional choices.
If you want to succeed, the only way to consistently make money trading over the long term is done. That way, you can invest your profits into your own system, and that makes it even better. However, one should also be realistic in their expectations and understand that trading is a discipline that takes time, patience, and ongoing learning, rather than being a quick route to riches. Long term success depends on continuous testing and adjusting to shifting market conditions.