Can you be a millionaire trading forex?

Can you be a millionaire trading forex?

Can you be a millionaire trading forex?

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.

Funds

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!

Conclusion / Can you be a millionaire trading forex?

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!

Do you want to become Success Supply and Demand Trader?
Or want to know more about Can you be a millionaire trading forex?

So if you are a beginner trader and to become a good professional forex trader.
Want to know more about when to enter a trade forex?
The Forex Scalper teaches you the best scalping trading strategy using supply and demand zones.
Which are already traded and tested by thousands of TFS members and performs daily trades.

To become profitable from Beginner Trader and most successful Scalping trader in Supply and Demand.
So join THEFOREXSCALPERS and trade with 3500+ community traders with daily analysis and educations.
Which boosts your trading skills make you Professional Forex Market Trader.

JOIN HERE TFS COMMUNITY

======================
Results – Instagram
====================== 
Forex Trading

Looking for a Trusted Regulated Broker?

TheForexScalper recommends you join ICMARKET which is regulated and the most trusted broker.
They provide very tight raw spread account with fast execution and having multiples deposit and withdrawal options.

Join IC Market

Forex vs real estate

Forex vs real estate

Forex vs real estate

Forex vs real estate.

This blog is about forex trading vs real estate.
However, these two investments can actually be combined very well.
This way you could very well invest the money you earn by trading forex in real estate.
This way you ensure a passive income which is returned to your bank account every month.

I also invest a lot of my forex profits in real estate this gives me some form of security.
So that I earn a fixed amount every month by renting out houses and apartments.
In this way you build up good security for your future.

Most people who want to establish a financially secure future choose to invest or trade in real estate.
And if we take a look at the list of the richest people in the world in any category they all have large investments in real estate.
Let’s look at Donald Trump, for example. Who made a fortune in real estate.
And Books like Rich Dad, Poor Dad , by Robert Kiyosaki and other property investing books written in the last fifteen years, introduced the average person to real estate investing.
Thanks to these books, many people have opened their minds to new possibilities which they can now envision for themselves.

Capital Gains Versus Cashflow / Forex vs real estate

When talking about capital gains, most people refer to the value you gained after a winning position.
On the other hand, cashflow generally means an investment vehicle that will produce money for you on a periodic basis.
That’s why I also think this is an ideal combination.
Personally, I find the best way to buy a property and rent it out for a monthly rent.
You could of course also buy a property and sell it later for a higher amount, but renting out a property naturally gives you a monthly cash flow.

The profit you eventually earn from renting out a property is of course much slower than making a big move on the forex market where you can ultimately earn a lot in 1 trade.
But it’s safer because of the low volatility.
With Forex trading, it’s faster to gain value, but you can also blow your bankroll faster.
That means to me that I have security with my real estate and a stable income every month.
And with trading I can earn a lot of money but in a lesser week or month I still have my certainty in the monthly cash flow from the real estate.
Do you understand what I mean?

Forex vs real estate

Forex vs real estate

But how do you actually start buying your first property?

Well, for example, you can already buy a house in the Netherlands with 20% to 30% equity and you can get an investment mortgage for the remaining amount.
This will of course be different in every country, but you can easily find out for yourself how it is for your situation.
But actually it comes down to the fact that it is possible for anyone with a little savings to buy a property for rent.
For this, of course, you have to look for a property in a good place in the right location.
If you don’t have enough savings, don’t be disappointed, there are still options for you.
There are also funds in which you can invest. In this case, you bet a certain amount with several people to buy an object together.
Sometimes this is possible from as little as 200 euros.
You can also get a monthly cash flow here. This will of course not be a lot in the beginning, but you can always expand this.
Always do good research into these funds so that you are sure that you are investing with the right fund.

Forex vs real estate

Oh and a small addition, you can of course invest in many objects.
For example, you can also buy a garage and rent it out.
Or a retail building, an office building or even a holiday home.
Let’s just say plenty of choice.

Are you interested?

If yes, you can start by checking investing books in the market, such as The Essays of Warren Buffet or Robert Kiyosaki’s Rich Dad, Poor Dad.
You can learn the basics, plus some tips and tricks to help you get started with investing.
These books helped many average individuals to professionals open their minds to new ideas with a brighter future.

Do you want to become Success Supply and Demand Trader or want to know more about Forex vs real estate?

If you are a beginner trader and to become a good professional forex trader. Want to know more about How to trade GBPUSD? ? The Forex Scalper teaches you the best scalping trading strategy using supply and demand zones which are already traded and tested by thousands of TFS members and performs daily trades.

To become profitable from Beginner Trader and most successful Scalping trader in Supply and Demand.
Join THEFOREXSCALPERS and trade with 3500+ community traders with daily analysis and educations which boosts your trading skills make you Professional Forex Market Trader.

JOIN HERE TFS COMMUNITY

======================
Results – Instagram
====================== 
Forex Trading

Looking for a Trusted Regulated Broker?

TheForexScalper recommends you join ICMARKET which is regulated and the most trusted broker. They provide very tight raw spread account with fast execution and having multiples deposit and withdrawal options.

Join IC Market

 

Market structure forex

Market structure forex

Market structure forex

What is Market Structure?

In this blog I will tell you more about market structure in Forex.
Because what exactly is Market structure forex?
Market structure by definition is the simplest form of price movement in the market and it is important to be able to read it
They are the Swing Highs and the Swing Lows, the Supply and Demand zones and Support and Resistance Areas.
These are levels, which are easily identified and hold until they don’t.
Market structure is a trend following tool that traders read and follow based on how the price moves.
From bullish moves, to bearish and in between with ranges.

Market structure is also sometimes referred to as Price Action.
So we call it market structure because that’s how the whole market moves.
Understanding the trend and the expected movements that result from it and you will be a lot further along in your trading career.
It is therefore also very important to follow the market structure when you trade.
You have to know which way the market is going to be able to make a nice winning trade.

Market structure forex

Market structure forex

Market structure forex

What types of market structure are there?

To understand the market structure you really only need to know 3 things.
Namely the 3 sides that the market can go.
It is also crucial to be able to recognize these trends and also how to know that there will be a possible change in the trend.
The market moves in 3 structures: uptrend, downtrend and sideways.
The whole market revolves around these three concepts – this is how the market can move.

Using the Euro as an example:

-Up Trend: If the trend goes up the Euro is worth more.
-Down Trend: If the trend goes down the Euro will lose in value.
-Sideways Trend: Prices move in a narrow range.

If you can read market structure you will be able to understand and read the three terms above from the charts.
And you understand how to read a continuing trend.
But you will also learn to recognize a changing trend.
I also learn all this much more deeply in my course.

What is also very important to know and remember is that the trend can look different on each time frame.
For example, if you look at the Daily time frame, the trend can be mainly up.
But if we then look at the H1 time frame, we may see mainly a Downtrend at the moment.

Do you want to become Success Supply and Demand Trader or want to know more about Market structure forex?

If you are a beginner trader and to become a good professional forex trader. Want to know more about How forex leverage works? The Forex Scalper teaches you the best scalping trading strategy using supply and demand zones which are already traded and tested by thousands of TFS members and performs daily trades.

To become profitable from Beginner Trader and most successful Scalping trader in Supply and Demand join THEFOREXSCALPERS and trade with 3500+ community traders with daily analysis and educations which boosts your trading skills make you Professional Forex Market Trader.

JOIN HERE TFS COMMUNITY

======================
Results – Instagram
====================== 
Forex Trading

Looking for a Trusted Regulated Broker?

TheForexScalper recommends you join ICMARKET which is regulated and the most trusted broker. They provide very tight raw spread account with fast execution and having multiples deposit and withdrawal options.

Join IC Market

 

How to count pips?

How to count pips?

How to count pips?

How to count pips?

A word often heard in the world of trading is perhaps the PIP.
And once you have entered the world of forex trading you will hear this word several times a day.
But what exactly is a PIP in Forex? I will explain all this to you in this blog.

How to count pips?

You need to completely understand how to calculate your wins and losses through the PIP.
Otherwise don’t even bother start trading.
The unit of measurement that indicates the change in value between two currencies is what you call a ‘pip’.
If the EUR / USD pair rises from 1.2250 to 1.2251, then the .0001 USD increases in value 1 PIP.
Simply, a pip is the last decimal figure of a quote.
Most pairs are shown to four decimal places, but there are exceptions such as the Japanese yen (to two decimal places).

Brokers. / How to count PIPS?

But watch out! There are brokers that show currency pairs different from the standard “4 and 2” decimal, but instead using’5 and 3′ number decimals.
What they actually do is showing fractional pips, “which are also called ‘pipettes.
For example, GBP / USD 1.51542 1.51543 moves, then it rises .00001 1 PIPETTE.
As each currency has its own relative value the value of the pip must be calculated for a specific currency pair.
We give an example in which we use a ratio of 4 decimal places.
In order to explain the calculations easier we exchange ratio set down like – so: EUR / USD at 1.2500 is “1 EUR / USD 1.2500.

Example exchange rate:
USD/CAD = 1.0200; or 1 USD to 1.0200 CAD; or 1 USD/1.0200 CAD.

(The value change in the “counter currency”) X (the exchange ratio) = pip value (in terms of the base currency)

Continuing this example, if we sell 10,000 units USD / CAD, then one pip change of exchange rate changes of approximately 0.98 in the position value (10,000 units x 0.00009804 USD / unit).
We say “approximately” because when the exchange rate changes, the value of each pip move is also changing.

Last important question that needs to be answered if you calculate the pip value of your position is:
‘What is the value of your pip in terms of your account currency?’
You’re trading at an international market you remember?
So not everyone on the whole world has chosen the same currency for their account.
Shortly, the value of the pip needs to be converted to the currency used at your account.

Do you want to become Success Supply and Demand Trader or want to know more about How to count PIPS?

If you are a beginner trader and to become a good professional forex trader. Want to know more about How forex leverage works? The Forex Scalper teaches you the best scalping trading strategy using supply and demand zones which are already traded and tested by thousands of TFS members and performs daily trades.

To become profitable from Beginner Trader and most successful Scalping trader in Supply and Demandjoin THEFOREXSCALPERS and trade with 3500+ community traders with daily analysis and educations which boosts your trading skills make you Professional Forex Market Trader.

JOIN HERE TFS COMMUNITY

======================
Results – Instagram
====================== 
Forex Trading

Looking for a Trusted Regulated Broker?

TheForexScalper recommends you join ICMARKET which is regulated and the most trusted broker. They provide very tight raw spread account with fast execution and having multiples deposit and withdrawal options.

Join IC Market

 

Is forex trading profitable?

Is forex trading profitable?

I think this is a question that is asked a lot.
Is Forex Trading Profitable?
Around us, we hear many stories from successful people on the forex market, but also from people who have lost a lot on the forex market.
What exactly is this and why is one trader profitable and the other not?

Let me start with the fact that Forex trading is not a get rich quick system.
It takes months and maybe years of hard work, studying a lot, but also getting to know “yourself” very well.
In the beginning of your Forex career you will probably bump your head a lot and probably lose some money as well.
(Or maybe everything if you don’t have a good money / risk management.)
And this is often the point where many traders will fail and give up.
They will say that the Forex market is not profitable.
But what they don’t ask themselves is why it didn’t work?
And when they start to ask themselves that question, I often hear the same answer.
Mostly there are only 2 reasons why they keep losing.
I’m going to tell you this now.

1. Keeping yourself under control. / Is forex trading profitable?

Often the strategy is fine.
But the most common problem why traders keep failing because they can’t control themselves.
And what do I mean by this?
This has everything to do with the psychological aspect.
I think that as a trader or if you are just starting to trade you get to know yourself very well.
Not only in trading but also in your daily life.
You are confronted with yourself which can be very nice if you can also change this so that you become a better and stronger person.
Okay, now back to the core of the story.
What I often see when I look back at the lost trades with a losing trader, there are a number of things that immediately strike me.

Number 1 is perhaps revange trading.
Where the trading day first started well in control, you lose a trade. (Which is not a bad thing because everyone loses a trade once in a while!)
He then lets go of all control and takes all trades after that without a clear trading plan.
Or the lot sizes increased to make up for the lost money.
What eventually happens is the first 100 euro loss in the first place, eventually becomes thousands of euros loss at the end of the day.
Only by revange trading just because he wanted to make up for his loss.
Overtrading, too high lot sizes, letting go of the trading plan, no longer using your strategy properly.
Therefore, always review your trades at the end of the day.
What went well? and what went wrong?
You will eventually learn a lot from this.

2. Risk management. / Is forex trading profitable?

Okay now point two.
Did you know that a lot of traders also fail at not having or having poor risk management?
And how important do you think that is in trading?
Exactly very important!
Because without good risk management you can never become profitable in the forex market.

Imagine we have 2 traders.
Peter and Mike.
Peter has a win rate of 8/10 trades and Mike a win rate of 6/10 trades.
Who will be more profitable in the end?

Okay, we don’t know anything about their risk management yet.
Peter doesn’t really use risk management.
And Mike uses very good and tight risk management.
Who do you think is more profitable now?

Good job Mike of course!
Mike uses a risk of 1% over his entire account balance and aims for 2 to 3 percent which equates to a risk to reward of 1 to 2 to 1 to 3.
So even if Mike loses 2 out of 3 trades still makes overal 1 percent profit.
So the message of the story is where peter sometimes risks 20% to 30% of his account in just 1 trade.
Will Mike eventually last longer because he sees everything in percentage and uses his risk management wisely.

Is forex trading profitable?

Do you now understand how important good risk management is?
Often even more important than a good strategy!
Only you can limit your own risk.

Conclusion.

Forex trading is definitely profitable if you do it the right way.
So you do not only need a good strategy, there is much more to it.
And no you really wouldn’t be able to earn a lot of money in a day or in a week on the Forex market.
It takes time and experience! But it is certainly not impossible!

I hope that with this blog I have been able to give you some more insight into whether you can be profitable with trading forex.

Do you want to become Success Supply and Demand Trader or want to know more about Is forex trading profitable?

If you are a beginner trader and to become a good professional forex trader. Want to know more about How forex leverage works? The Forex Scalper teaches you the best scalping trading strategy using supply and demand zones which are already traded and tested by thousands of TFS members and performs daily trades.

To become profitable from Beginner Trader and most successful Scalping trader in Supply and Demandjoin THEFOREXSCALPERS and trade with 3500+ community traders with daily analysis and educations which boosts your trading skills make you Professional Forex Market Trader.

JOIN HERE TFS COMMUNITY

======================
Results – Instagram
====================== 
Forex Trading

Looking for a Trusted Regulated Broker?

TheForexScalper recommends you join ICMARKET which is regulated and the most trusted broker. They provide very tight raw spread account with fast execution and having multiples deposit and withdrawal options.

Join IC Market

 

close

Enjoy this blog? Please spread the word :)

en English
X
error: Content is protected !!