So how hard can it be to make 1 million dollar profit? If you think one million dollar trading account will make it easy for you to make 1 million dollars in profits much easier, then a 2 million dollar Forex trading account makes it much more easier than the 1 million dollar Forex trading account. This is the fastest way to make 1 million dollars in Forex trading profits. It is also the most easiest way to make a million dollars in Forex. Does success really come down to having a lot of trading capital?
If you were to look at some trading success stories, not all started with tens of thousands of dollars. You can make gains with a small account if you fully understand and utilize the concept of compounding your profits. Compounding is the ability of an asset to generate earnings, which are then reinvested in order to generate their own earnings. Remember, life is not so perfect as these examples because I have assumed a lot of things in the calculation and the biggest one is that you actually have a trading edge.
You want the truth? But a million bucks? How long will that take? That is a hard question to answer. This is a long time and takes a lot of hard work to make 1 million dollars. Is getting Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors.
Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
But to fully answer this question, we have to look deeper and also ask: What is my time horizon to reach this goal? How much risk am I willing to take? How good am I as a trader? We will go through each point nd by the end, you will know what to do. What is my time horizon to make a million Dollars?
A short-term mindset, paired with an unrealistic view that you will soon get rich will lead to: taking too much risk taking random trades, hoping that you will hit it big aiming for home run trades, which means you push your winners too much, instead of taking what is offered not adhering to risk management principles How much risk are you willing to take? The higher you scale the risk, the higher your potential reward.
How good are you as a trader? Here is a path that you can follow to get there too: Focus on yourself. Instead, focus on keeping risk low and avoid big drawdowns Build a track record that investors and outside capital would find appealing Then go and look for services like TopStep Trader, Darwinex or FundSeedr who allocate money to individual traders who can trade profitably Then you work your way up and be patient Your future self will thank you Trading does not necessarily have to immediately become your main source of income.
There are countless trading books out there. Where do you start? In this video, I attempt to provide a recommended. Becoming a good trader while having a job is very challenging. I have been there myself and it wasn't until. Candlesticks are the essence of technical analysis and they build the foundation of every price analysis. In this video, I. But now, you see a glimpse of a. What To Do Now.
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|Earn a million forex||Leverage is a double-edged sword, as it can earn a million forex to outsized profits but also substantial losses. I'm headed to Africa next week so trading will be very hit or miss if at all. You will need the discipline to follow this plan. For this example, we are going to work at making pips per month. I'm all in to trade live with you I am able to hedge my broker is outside the U. Any plans on when you are going to start it?|
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|Earn a million forex||Thanks for sharing this. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. Nearchos says:. Mag - Look, I'm willing to do all I can to help any fellow traders, but it may take us a little time to work out the best way to keep people updated. Set up a earn a million forex Of course, the answer here is YES. Prev Article Next Article.|
|Japanese candlesticks patterns forex cargo||New Art Exposure source. I really like your idea, especially that you're starting small and hope to snowball it relatively quickly, which is something I think many people will appreciate. You have my respect! Just email me through here at info winnersedgetrading. Obviously, return and risk go hand in hand. I guess I assumed that most people who have digital products and services knew how to do such things, or had staff that were technical and could set it up. I don't even know what Disqus is.|
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|Sfldrop indicator forex||LukeB says:. Come one, let's do it. Thanks for sharing this. Thanks for your wishes of success. I will definitely join this program if WET will launch it. Peter J Shepherd says:. I believe that forex trading is extremely simple buy we humans make it extremely complicated and difficult including myself.|
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Many new traders skip this step. To tell you the truth, it can take you from 6 months to 12 months to develop that skill to become a successful trader. Some traders might take longer than this. There are no shortcuts. You need experience to tackle different market conditions which can only be obtained with the passage of time. You will make it if you are patient and disciplined. In the first months, your account did not grow much but after that you can see exponential growth in your account at the end of every month.
The advantage of starting small is that you are not risking too much of your hard earned cash. Only come back to live trading when you think you have the right skill. On the other hand once you have developed the right skills you will be doubling this small amount every month and by the end of 12 months, you can achieve your goal of making your first million dollar. Now this was the easy part. Goal setting was easy. You said you want to make a million dollar. You wanted to start small.
Easier said than done! Can you do it? Well, it all depends on your trading strategy and your trading system. So whatever you make, make sure you can make it comfortably. Can you sit for hours daily infront of the computer monitor? So whatever trading strategy you are going to select should be easy to trade and should not take more than hours daily to trade. Avoid selecting those strategies that require hours of trading daily.
The best strategy for you will be swing trading. Trading on higher timeframes like H1 and H4 does not take much time and it can make many pips if you know how to read the charts on these timeframes. Take your time. Choose a strategy. Test it on the demo account for a few weeks. If you find success with it and if you find it easy to trade continue trading with it otherwise drop that strategy and pick another one.
Now we are working in the realm of the practical. Strategy selection can be a time consuming process. It can take you months before you find the right strategy for you. This is a realistic assessment. We took months to find the right strategy that started working for us. Once you have the right strategy, practice it. The more you will practice it, the better you will become with it. So with a few months of practice your skill level will increase. Now you need to change that strategy into a system.
You can read this post where we explain a simple swing trading strategy that works best on H1 and H4 timeframe and can make pips per week. Developing Your Trading System Once you have selected the strategy that you think will give you the results that you want, you need to convert that strategy into a system. A trading system is a set of rules that tells you when you are going to trade and when you are not going to trade.
Your trading system in essence gives you the rules that you will follow daily to enter and exit the market. Developing a trading system will start once you have identified the right trading strategy for yourself. Many new traders waste thousands of dollars on buying expensive software and systems in search for the holy grail. There is no holy grail. Trading is a game of probability.
You will win some trades and you are going to lose some trades. If you can develop a trading system that wins 7 trades out of 10 on average, you are on the right track. Rest is the game of risk and money management. All these things will have to be addressed at the system development stage. The simpler your trading system, the higher the chances of it working. Simple things work well in life.
This applies to trading as well. Dean Saunders and Marc Walton are two professional traders. Their trading system is very simple. Developing your trading system can take some more months. In the end, it is your system that is going to take you to your financial goals. So be very careful in developing your system. Try to make it very low risk. Now it is not necessary to have a system with a very high win rate. He had a simple trend following system. He taught that system to his students whom he used to call the Turtles.
His system became famous as the Turtle Trading System. How did it do that? Turtle Trading System was designed to catch big moves in the market with low risk. Months would pass before a signal would be generated. So it became essential to keep an eye on many markets so that you have enough signals generated by the system. As said above it won only 4 out of 10 trades but the winners would be so big so as to wipe out all the losses. I will watch intently to see what i can learn.
Well, this is a great site to help you learn forex trading. It's not as complicated as it sounds,,,but it's not as easy as it looks either. This sounds like an awesome idea! I'm headed to Africa next week so trading will be very hit or miss if at all. Which is a bummer since post NFP often opens up some nice spaces for trades. When I get back we should email about strategies. I'm not familiar with yours and trade a fair amount of divergence myself a la Rob Booker.
I do think it's worth mentioning that one really needs to be able to use an offshore account to do this. Like if I had to make that feed me I'd not be eating. Good point, Allison - trying this with only leverage would be, well, annoying. Not impossible, but annoying. Back to our "slow learner" conversation elsewhere, I finally learned to be out of the market during the monthly NFP when the market jumped my stop which was already 50 pips away from the current price by almost pips.
If you're right on the NFP and don't get stopped out by a spike in the opposite direction , it's great - but if you're wrong, it's murder. I hate turning a profit in a demo account - it always just makes me want to kick myself for not doing the trade for real money. I was teaching a friend how to trade, and he practiced in a demo account, and made a fortune Everything will cost you something, even reading this cost you time invested, and Time is one of the most valuable possessions we have.
So if you are thinking about not costing anything you have the wrong mindset already. But reading articles on this site are free and always have been but it is still going to cost you something. If risk capital content of this venture does not change I will sure be interested in participating. I'm very interested in following along. This seems nuts enough to work! A "Jump and the net will appear" type of fun! Let's do it.
What could possibly go wrong? Instead of Turtle Traders, we could be Rabbit Traders! I think we would probably be the most interesting traders in the world. This should be a very interesting project. I intend to follow it as close as possible.
If you could even make the 10 to 20K mark in the 18 months, just think what is then possible in 5 years. A very BOLD challenge, this would give a new definition to "anything is possible". You have my respect! I am very interested to get in on this. Been day and swing trading for a few months and have not been too successful yet. Any plans on when you are going to start it? Are you planning on having instructions for those who would like to follow along?
Excellent challenge. I am happy to know that someone go for this kind of experiment. I am absolutely sure it is possible. I'd be interested in trading along with Jack. Hopefully he can make much more but time will tell. Keep me posted please. Jana - Hey, if it was complicated, there's no way I'D be able to do it. This is really a fantastic idea, that many people most probably will encourage you to do.
Will we be able to join your trades? Which 2 strategies will you use? If the Trader 'John Carter' can make 1 million in one trade, why shouldn't we be able to make one million in 18 month? People who say this is not possible, are people that aren't worth trading.
Just know we really want you to succeed in this project Thanks for your wishes of success. I need to get on a "prayer request" list someplace. Let's have the link and I'll see you at the station. I would definitely be interested in following this as it progresses. I think this is probably what we all secretly want to be able to do I definitely do.
I only have a small trading account and would like to make it grow big in a similar time scale. I will be watching closely to pick up any tips and hints on how to be a better trader. Go for it Jack. Hi Jack! Very exciting idea and goal!!
The trading room is looking forward to following you on this massive yet exciting challange! Leigh, you are now officially in charge of positive attitude for this journey. Me, I worry all the time. Yes very interested in your idea, I wish you luck and would love to jump on board, I look forward to hearing more about your strategies. It 'a really a beautiful, "unhealthy" idea, but we have to try because other professions do not offer any stimulation.
Thank you for contacting me, I'm definitely interested also to learn this wonderful profession Thanks for all. I am interested to be part of the experiment. I consider it relatively easy for the first few months, but while the balance increases the difficulty is getting higher and higher. I love the way you said "just by doubling the balance every month", like that's practically no trick at all.
This will never work I'M IN-- lets do this. As always for me its holding my nerve when profits build to a substantial amount. Gotta love the trader's spirit It's a great idea. Let's give it a shot. Hi What about hooking your trades up with an auto or mirror trader, so that every one would be on the same page per say or at lest end up with the same amount in all accounts at the end. Robert we may do a Myfxbook account but this is a Case Study to see if it can be done this is not a signal service.
However if he pulls it off we just might start one!!!! TK--I could certainly use an "upmove" like you envision. It could certainly resolve my financial needs and I would like to participate. TK Thanks for the post, This is only a case study showing how Jack will do it, this is not a signal service just to be clear. Anxious to see it happen. Through all the hype that's out there, I want to believe and see how it is done.
I agree with Jack and believe Forex can help us make an income. I have in this trading for about 10 yrs. In forex I agree to start with small capital and see it grow. Tho I burst many small accounts but I believe I can make it big one day. Now I trade with more confidence. I am in Jack thanks. Who would not want in with a name like yours if nothing else! Maverick: an unorthodox, independent-minded person -- risk-taker. Story of my life both good and bad! Life is short so why not take the ride!
This could be fun and, even better, profitable. I do look forward to the idea of starting very small and potentially gaining big. Psychologically the losses taken will be on "free money" so will be easier to handle - the gains much sweeter. Working on the principle Yes I'm interested, can't wait. I surely would like to follow your experiment. I would like to see your strategy of running the bank up. I just started with the SMI software in a demo account this weekend.
What is your handle on "MyFXbook". Who knows, if you do win this will be the most inspiring story for years to come. I think it's not only a game of strategies, but a mostly a game of guts. Come one, let's do it. I would be definitely interested, but need to know the proposed specifics; What session would we trade follow you on. Will this cost us ANY money other than a small amount to begin with to trade? When woudl you be teaching your "strategy" or would we learn while you trade?
Basically what are all of the specifics on this? Very interested!! Stay tuned here for specifics - as I said in the article, I wanted to see if there was real interest in this before proceeding. And apparently there is! Free - I'm on US east coast time, but I often get up for the London morning session, just to see what's going on if nothing else.
Yes, I am very interested in seeing and doing. I know there are many people that make a living trading. They also have a the funds to do it. To start and fund a trading account with dollars is in my league. Look forward to hearing more and going on the journey. Sir: I am hungry for aboslute freedom that a cool million would bring, Lord willing of course.
So, how soon can I take part in this here venture. Mag - Look, I'm willing to do all I can to help any fellow traders, but it may take us a little time to work out the best way to keep people updated. I'm a writer - I'm not a computer whiz. I just got an email saying I have a new follower on "Disqus" I don't even know what Disqus is. Any event, give me a few days to get things set up and rolling - there will definitely be follow up columns from me on this.
When you will have an account bigger than k depending on your risk tolerance you need to accept loses of 7k 15k or even 20k on some days, and than you will need to make profits bigger than k daily. These will be the problem, how to realoses of 7k 15k or even 20k on some days, and than you will need to make profits bigger than k daily. These will be the problem, how to react on such big price oscillations! I feel much more confident now.
Seriously, you're quite right, there will be those problems when the account hopefully does reach the higher dollar levels I hope we will have the pleasure to dicuss these topics infuture. Oh, come on, starting with is practically like cheating.
I agree that the idea is crazy. In fact, so crazy that it might just work. I love crazy and that's why I'm in on this with you all the way. Jack, Greetings first of all Well I read through your article and I see some very serious conditional attitude that "What if" you able to pull this off I mean What's the harm in it Because going from k to 1million may sound very interesting but the risk appetite is substantial I thoroughly believe if you can make ur account grow from k to 1 million or more then why not from the smaller account?
Initially may be it will take more time to from from 50usd to may be 1, or 10,usd but I will call this victory even if someone can get to 10k. What mostly we do not realise is the patience invlove to grow from very small to medium By the time u r near 10k or plus ur strategy and trading experience will be so much that it will become absolutely possible once u cross 10k barrier I'm all in to trade live with you Seriously sometimes we spend 50usd just for nothing so why not try something that's has something extraordinary to offer I'll consider it a lottery ticket So jack I'm all up for it Just do it.
You raise an interesting point, Ayaz. The growth rate assuming the trading plan works will be exponential, that is, growing faster and faster as we progress. Hey Jack! But remember this, your countrymen put a man on the moon! Looking forward to joining you on your epic voyage. Thanks for sharing this. Harry McPhie Born again optimist. Thanks for your kind words, Harry Yes i think this would be very interesting, and i think it is acheivable because many pro traders have done this in a year.
A very good idea Casey, keep everyone posted. So long as you remember three words, patience, discipline and consistency My favourite saying is based upon the most basic law of geometry that we were all taught in school. Good Luck with your project, I will be following closely. I'm going to go look up what those words mean right now. If you have that, then yes I believe it is quite possible and would be very interested in following along, and.
I see a mountain of them And like I said earlier to someone, if I find out how to do a Google hangout, I'll consider it. By the way, uh, if anybody could slip me the next monthly NFP report a couple of minutes before it comes out, that would help. Very interested in following. I believe it is possible to be profitable in forex trading, but not there yet myself. Would like to see the trades posted as they are placed live to see when entry and exit is made by a trader that knows more than myself.
So, yes, count me in. Keep me posted. I hope - and I think - you're right about that - it's certainly worth the effort just as a learning experience if nothing else. Sounds exciting, but I think everything is possible if you have faith - I also try to make money in Forex, so I'm ready for success. Faith - let's go with that. As i believe it is possible maybe not a million i love to follow and might shadow trade. Sounds like fun. That's kind, that you said "interesting" rather than just "insane".
I mean, let's hope so. I also wonder if you are able to hedge in your trading and if you plan to consider it. I am able to hedge my broker is outside the U. Good thought, thanks. I am intrigued by the Break Even is the worst result strategy espoused by Joe Nemeth using hedging techniques. This might be an opportunity to test it out.
I am game. Sounds like an interesting experiment. As long as it does not implies working on the screen all day. And I am on GMT so that may make it a bit hard for me. Assuming you are not on or close to GMT. Well, not ALL day. Seriously, about the longest I ever trade is the entirety of the London session - but usually I try to just work either the London morning session OR the New York morning session.
If I can open up at 7 AM and turn a nice profit by , I'm perfectly happy to call it a day and go ahead and turn off my screen. I am sure it is possible and I am already working on a trading plan to achieve this. I believe that forex trading is extremely simple buy we humans make it extremely complicated and difficult including myself. Its all about discipline and patience and taking the word greed out of the equation. I'm guessing normal risk mgmt.
If you catch a great trend it may be possible but the risk of blowing up is going to be hard to overcome and that is one risk you will definitely have to take, at least initially. It would be great if you have a process for notifying those who want to follow the trades as they happen text, email, discussion board, something else real time so we can truly participate with you.
Looking forward to seeing more about this endeavor! Hello Casey. WET team is growing and Jack is new member of your team? But sometimes the craziest ideas are more successful then the common ones. I will definitely join this program if WET will launch it. For me personally it will be huge experience and great success reaching even Good attitude. I obviously can't guarantee success to the tune of a million dollars, but I will guarantee you that I will trade this account as if my very financial life depended on its success.
All I have to start with is Sounds like a crazy ride. Not the sensible forex way, but fun and just crazy enough to work. Feeling lucky? I believe this sounds like a great opportunity especially for people who don't have alot of starting capital.
I will be looking forward to hearing your next steps. Thanks, Gregg - My thought is that, as long as I can manage to stumble along without completely blowing out the account, A there should be some valuable trading lessons learned along the way, and B even if we don't make a million, we might still turn a very nice profit. I am so glad you touched upon this for 1 main reason: Americans, and everyone else for that matter, need to take personal responsibility for their own financial well being.
NOT reliance on government, but reliance on financial astuteness and thus investing. Ideally, I wish you had a simple system of indicators or proprietary software that would indicate where to get in and when to get out. I wouldn't mind doing the trades live with you if you held them on a Google hangout, and alerted us via text messages when you're actually going to be trading. However, I'd need to get set up with an account and actually learn how to place a trade too, But if I had that info, I'd like to trade along with you, learning as I go, and scaling up the profits.
I don't know why the creators of forex programs don't just offer a service like that if they don't offer mirror trading software. I really like your idea, especially that you're starting small and hope to snowball it relatively quickly, which is something I think many people will appreciate. Timmy, Thanks for the comment, Actually your comment about making trading simple.
That is truly what Winners Edge Trading is all about, so please hang out and enjoy the articles. If you ever need any help, we are just a question away via comment or email. We are releasing our simple trading dashboard in the next month or so. Timmy - Totally agree with you obviously on the need for people to take personal responsibility for their financial well being. Just email me through here at info winnersedgetrading. Please don't be insulted, it's just that I seem to have put myself in a bad position!
Although I've signed up to watch some of these and actually attended by clicking the link to attend, I have NO idea how they're set up or conducted, LOL!