What is Forex and how does it work?
27 November 2015
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- theforexscalper
theforexscalper
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Learn everything about Orderflow trading?
theforexscalper
Email us now :
info@theforexscalpers.com
Can you be a millionaire trading forex?
This is a question I hear a lot around me.
And the answer to it is yes!
But let me be very clear that this is not easy.
It’s not as easy as some ads show you sometimes.
We all see those ads every day that promise you all kinds of things “Become a millionaire in a few months.” “Get Rich Quick!” “Anyone can now become a millionaire with my system!” Except that this does not apply to trading at all and I even find it misleading and fake.
Of course, this also applies to many other things.
So don’t fall for this!
Because of everything we see around us, the big beautiful houses the super cars the most expensive jewelry, many people also want to achieve this and are therefore more likely to fall for certain false ads.
I just told you that you can definitely become a millionaire by trading forex.
But then you ask yourself how?
Let me explain that in a really honest way.
Learning to trade forex correctly just takes time.
For some it takes a year and for others sometimes 5 years before you are really successful.
It also takes a lot of effort and hours behind the charts.
And what about a good risk management?
Because if you master the technique well, but not the rest, you will never become a millionaire trading forex.
And now we come to the next point.
Funds!
Also how many funds you have to trade with will ultimately determine within what time you can become a millionaire by trading forex.
Because someone with an account of 100,000 will of course achieve this sooner than someone with an account of 5000.
Provided of course that the person of 100,000 masters good risk management.
But if you do not have a large piggy bank and do not immediately have that much money at your disposal, are there still options?
There are also possibilities for that.
Nowadays there are many companies that want to offer you a larger trading account if you can show that you can do it.
From the profits you make, you and the company share the profit.
With many companies you only have to pay an entry fee to get into the test phase.
The level of the entry fee is often determined on the basis of the amount linked to the account.
But beware, if you do not get through the test phase or if you have not adhered to the rules, you will in most cases lose your money.
But if it goes well and if you achieve the goals of the first test phases, you will be rewarded with a large trading account.
And you can certainly earn a lot of money with a minimal investment!
Arriving now at my conclusion, my answer to this question is definitely yes!
Of course I also speak from my own experience, but I have to be honest to tell you that the road to it has not been easy.
I too lost a lot of money in the beginning and was often on the verge of giving up.
In the end I did not do this and I can now proudly say that trading has provided me with a very good income.
So I think it’s possible for you too?
Sure!
If you are willing to work hard, spend many hours behind the charts and do a lot of backtesting, you will definitely succeed!
Have a very good plan and very good risk management so that you don’t have to hurt yourself unnecessarily with blowing up your account.
I think this is step 1 on the road to becoming a Forex millionaire!
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Welcome to my author blog. With over 12 years of experience in the financial markets, Trading is more than a profession for me; it's a passion that has fueled my curiosity and determination. Over the years, I've explored various trading strategies, dabbled in different asset classes, and navigated through the ever-evolving landscape of technology and innovation. Through it all, I've witnessed firsthand the transformation of the financial industry. My mission is to share the wealth of knowledge I've gained over the years with you, my fellow traders and aspiring investors. Whether you're a seasoned pro looking for fresh perspectives or a newcomer eager to understand the basics, you'll find something valuable here.
