A lot of people today have a dream to become a millionaire because of media advertising and TV. People see the lives of celebrities and millionaires and they want to have the same lifestyle. The most popular questions are: can I be a millionaire trading forex or can I make a living?
Yes, you can be a millionaire trading forex but it is not easy like you see on internet advertising and media. If you start small say with just $5,000 and make 10% of your capital each month after 5 years you will indeed be a millionaire. If you make just 10% of your capital each month you can be millionaire. You can start with $5K and in 5 years you will be millionaire. If you start with $10K you can be in 4 years and if you start with $100K you will be in 2 years.
With just 10% a month you can fulfil your dream. Think about it. In any other industry you can not start with $5K and be a millionaire in a few years but in the forex market you can. If you like to trade forex because you think you can be millionaire overnight or in a week or month please exit NOW because you will lose all your money and may also lose your t-shirt.
Brokers always hide this reality and tell you stories about doubling your money overnight. They prefer for you to lose your money to them as soon as possible because if you follow the correct way for a few years they will not see any substantial profit from you. Over the course of several years you will be the one pocketing the true profits! This is of course not in their best interest because 90% of brokers are just market makers and have no relation with the market and banks. They just create a virtual market for you and let you trade and they make money when you lose. And they lose when you make money. For them their interest is to make you lose as soon as possible then they try to motivate you to add more funds to your account and lose your funds more and more.
If you really want to be a millionaire in the forex market please forget about making money easily. You can not make a cold cash in forex market because that does not exist. You will need time to learn how to trade forex develop a strategy with 60% probability to win or more learn money management and take your time and start trading just on a demo account. Be patient! Trade for 3 months on a demo account. If you can have success on a demo account then you can go and open a real account and start real trading. If you can not have success on a demo account then something is not right: maybe your strategy or you do not respect money management rules. After you know the error correct it and then restart trading on a demo account until you start seeing recurring success.
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Source : https://www.quora.com/What-is-your-opinion-about-forex-and-what-would-be-the-best-way-to-startThank You for Visiting My Website