You must be dreaming of becoming a Forex millionaire. Many new traders dream of becoming a Forex Millionaire in less than a year or two but lose out within a few months of losing their hard-earned money. The problem is that most of them do not have a business plan. If you faithfully follow the following procedure, you can become a millionaire Forex.
Becoming a Modern Millionaire Tips # 1
First educate yourself about Forex trading. More information is available online. Choose a marketing strategy that you think fits your personality and style. The trading system must have a 60-day money back guarantee. In this way, you can test the system and if it doesn’t work, you can get a refund. The right choice of your marketing strategy is very important. You do not have to rush. Read about the various types of Forex trading on the market. Make a list of at least 3 best Forex trading systems. Make sure Forex systems are easy to trade and do not take more than 3-4 hours each day to trade.
Becoming a Modern Millionaire Instructions # 2
Try the best Forex system on your mind in your trial account for one month. If you find it difficult to sell, go back. Select the second Forex system in your list. When you try it or two systems, you will find a machine that works for you on the show account and makes 100% monthly return. Once, you know the process on your show account, it’s time to sell live.
Becoming a Modern Millionaire Instructions # 3
Now, we are not selling live on the same account. All we have to do is put $ 100 in a small account and exchange a lot for the machine. Your goal should be to achieve 100% or more each month. When you sell at a low price, 1 pip is the equivalent of 10 cents. Therefore, losing 10 pips means losing $ 1. However, if you lose 10 pips at a fixed rate, you have lost $ 100 plus you need $ 1000- $ 2000 to sell and more.
All we have to do is try to double $ 100 a month. This means making a refund of at least 100% in one month. Losing 100 pips on a small account means losing only $ 10. As a result, you are safer when trading on a smaller account. Try the system on a small account and if it does not pay 100% per month, refund and try the second method on your list.
When you find a way that makes 100% return to your small account, make your $ 100 into $ 200 by the end of the second month and $ 200 to $ 400 by the end of the third month.
Now you need to switch to a smaller account where you want your business risk to become more real. 1 pip on a small account is $ 1. With the same trade they have now turned $ 400 into $ 800 by the end of the fourth month and $ 800 to $ 1,600 by the end of the fifth month.
Don’t run. These five months will teach you a lot about how Forex markets are changing and how your trading market will change and you will also know if your broker is good or not, what to use and how to deal with risk. Now, with $ 1,600 in your account, you can switch to your starting account and start repaying 100% per month or more. Do the math, you will be a millionaire in the next six months.