In today’s highly competitive world, there are very few businesses left where you can make a fortune with a small amount. Forex trading is one such business. Starting with a small amount like $100 you can make a fortune something like more than a million dollar. Yes, this is true! Forex trading has got the potential to make you a millionaire.
It is always inspirational to watch a real millionaire. Watch the above video and see how this multi millionaire forex trader makes his daily trades. Watching successful people is going to help you a lot. This is what beginning tennis and golf players do. They watch videos of successful tennis and golf players playing their games. This helps them a lot in improving their games. As said above in the beginning, forex trading is one of the few businesses left in the world that has the potential to make you a millionaire starting with a very small amount like $100-200.
This is easier said then done. Many people start their forex journey and get burned out in a few months. This ends their journey. What you need to learn is that this is not a get rich quick scheme. Statistics tell us that almost something like 95% of traders fail to make a profit and quit within a few months. Only 5% make it and from these 5% only very few reach the millionaire mark. So don’t get exuberant. It is a long journey. You will need a lot of hard work and discipline if you want to do it. You will have to learn everything you can about technical analysis. Technical analysis is more of an art than science. So nothing is hard and fast here. Candlestick patterns can mean anything. With experience you will realize which candlestick pattern is high probability. The most important thing in the start is to cut your losses. Watch this video that shows a simple trick that will help increase your winrate.
You should focus on risk management. This is the crux of forex trading rather all trading and investing. Risk management means you are going to risk less and make more. If you can learn this, you are on your way to make a million dollars. Read this post that shows how you can make 200 pips with a small stop loss of 10-20 pips. You can watch the interview of this millionaire forex trader below!
Now these videos shows. Forex trading is a full time passion. Just like pro players of tennis and golf, you will have to make trading your passion. You will have to live it day and night. Once you will start breathing forex trading day and night, you will start seeing patterns on the charts which other traders will miss. These chart patterns are going to make you a millionaire forex trader.