October 9, 2014
Can You Really Start With $100 And Make A Living At Forex Trading?
This is a guest article from Jack Maverick. I hope you find it useful.
Can You Really Start With $100 And Make A Living At Forex Trading?
I say, “YES!” You can start with as little as $100, and within 3 months be making a pretty decent income, about $90 a day…within 6 months be making approximately $7,500 per week (how’s THAT for a 3-month increase in income?)…and in less than one year (about 10 or 11 months), have made OVER $1 MILLION DOLLARS. If you’re a bit skeptical, fine, just stay with me here a minute and I’ll show you exactly how that can happen for you.
Here’s how: All you have to do to accomplish that goal is manage to grab about 5 or 10 pips a day. That’s it – you don’t have to shoot the moon – all you have to do is average netting a 5-10 pip profit every day. To do that, I use a very simple, but time-tested 15-minute trading strategy that nearly always offers me that opportunity. I watch Eur/Usd, Gbp/Usd, and Aud/Usd using this forex trading strategy, and there are usually several opportunities per day to put it into play, to make a quick profit, and get out and be done for the day.
The problem most people have – or create for themselves, actually – is trying to overreach, to make a killing in one day. Although that’s always fun, it’s simply not necessary – you can become a millionaire in less than a year, starting from virtually nothing, just by taking very small daily profits. The challenge is simply practicing the necessary self-discipline to be satisfied with doing that. It’s not easy, because in the very beginning – if you start from that $100 level anyway – your profits are going to look very small, virtually meaningless. But you have to realize and believe that they aren’t meaningless, they’re just the necessary first steps toward creating a fortune for yourself in a ridiculously short period of time. You have to tell yourself over and over, “This is how I become a millionaire. What I’m doing today to make $10, if I just keep doing it, this exact same thing will be making me $20,000 a day 7 or 8 months from now.”
You can get all the details of my 15-minute trading strategy, absolutely free, right here – My blog. But for now let me just show you a chart of the strategy in action. Here’s a 15-minute chart of Gbp/Usd from today (October 7, 2014), and here’s how I played it – I bought at 1.6079, at the close of the candlestick that’s marked with 3 up arrows directly above it, a little right of center on the chart. Just 2 candlesticks later – 30 minutes – price was up to 1.6092, and I’d made my money for the day. Simple as that. (I actually trade as follows – I take off half my position when I hit that initial 10 pip profit target, leaving the other half to run in case there is a nice continuing move, with a stop 1 pip above breakeven – so I actually made more money.)
That’s it – 10 pips, trading just 5 micro lots, is $5, which, as you’ll see from the long profit chart that follows below, is all you need to make to start out with. You, of course, increase your lot size as your account grows (e.g., as you move up to having about $150-$200 in equity, gradually increase your trading size to 10 micro lots). The basic calculation on lot size is always just figure out, “How many lots do I need to trade so that a 10-pip profit will equal a 5% profit on my equity for the day?”
So let’s see how this small stair-stepping account growth works out. You’ll have to scroll down a fairly long way to get to your million dollars at trading day 189, but it’s well worth the trip.
There are approximately 20 trading days in a month, about 220 trading days in a year. You can see from the chart below that you hit that magic million dollar level on day 189, which is about 11 months from now. Is that all right with you, if you’re a millionaire by September of next year? But the really nice part is that although, as I said, in the beginning you’re talking very small absolute dollar amounts, within just 3 months (day 60) you’re making roughly the equivalent of $500 a week, and just three months after that (day 120) you’re up to making $7,500 a week! And you started with just $100! If you’re unemployed at the moment, that should look really good to you. I don’t know of any other home business that someone can start with just a $100 investment and within 6 months be earning at the rate of a $300,000 a year income, and in less than a year actually bank over $1 million.
So, scroll through and have a look. The third column figure is your profit goal for that trading day, which is always just a 5% increase in your equity; the first column is your account equity balance at the beginning of that trading day; the second column is your equity balance at the end of that trading day, with your profit for the day added in. And again, keep in mind that there are approximately 20 trading days in a month, so you can check as you go along to see how much you’re making per day at the beginning and end of each month (it increases at an exponential rate, you’ll see).
…and so on until…
Okay, now, is it really that easy? Not quite, no. In fact, you’ll have a losing day now and then, which will slow you down a bit (however, you’ll also have some days where you make more than your goal for the day, which will speed you up). In reality, it will probably take you closer to 18 months to achieve millionaire status. Gosh, that’s just terrible, isn’t it? – having to wait a whole year and a half to become a millionaire.
But the bottom line is this: Can you start with next to nothing and become a millionaire through forex trading? – YES, you can. And all it really takes is the discipline to be willing to settle for small, daily profits, rather than giving in to the temptation to try to make a fortune in one day. Make it your mantra, to repeat to yourself all day long – “10 pips a day is one million dollars”.
Go, begin your journey now. The sooner you begin, the sooner you’ll have that million dollars. Here again is the link to my 15-minute trading strategy – My 15 minute strategy
And let me give you one more very helpful thing to boost you along on your million dollar journey. Get this very unique trading strategy that literally WINS EVERY TRADE. You can’t use it to get to a million in less than a year, because it won’t make you 5% a day (you’ll actually have to do the work for that part). But it WILL bank an additional 10-30% or so a month into your trading account with virtually no risk at all. It’s just like having an automatic second stream of income pouring into your account every day. Get it here now by clicking this link – The Forex Mortal Lock Profit
Go get filthy rich – it’s lots of fun.