How to Make a Million Dollars Trading Forex?

Learn how to make a million dollars trading forex with day trading strategy, compounding interest with only $1 or $1,000 trading capital. There is no holy grail in forex trading. If you want to make million dollars through trading foreign currencies online, you need to read this guide and facts carefully.

Making one million dollars trading forex is not easy. It takes time to become profitable in trading forex. If someone told you that you can make $1,000,000 in forex trading overnight, that’s a garbage talk! The question is, is it really possible to make one million dollars trading forex? The answer is…YES!

Part 1: How to Make a Million Dollars Trading Forex?

However, you need to consider different things. As I have said awhile ago in my previous post, forex trading is a serious business. A business that requires focus, skills, intelligence, self discipline and determination.

FOCUS to make a million dollars trading forex. You need to focus in growing yourself studying many things. Do not be in a hurry, the more you know and understand, the more you start making money in trading forex. The less you know and understand, you will be starting losing money until you blow your account. That’s why, it is recommended to take time LEARNING forex trading before you make a million dollar goal.

SKILLS to make a million dollars trading forex. The skills required are as follows;

• know when to enter a trade and when to exit
• the skills of knowing how to protect your account balance with proper money management
• the skills of getting more and losing less
• the skills of less trade but making more
• the skills in reading charts (candlesticks, graphs, patterns, indicators, etc)
• the skills of mastering your forex trading psychology
• and many more..

INTELLIGENCE – it does not mean that you have to be a genius for you to become profitable in forex trading. Some forex traders don’t have any clue about other things. They do know only about FOREX TRADING. They master it. So, what you need to know to become an intelligent forex trader and make your first one million dollars? Here are the following things to be an intelligent forex trader;

• know when the big and important news about your preferred currency pairs will release
• know what to do when the news will release
• know what time you should trade and when to stop
• you are an intelligent forex trader if you trade less and make million dollars

SELF-DISCIPLINED is required to become profitable in forex trading. Self disciplined is required to make a million dollars trading forex. If you want to win in this game, you need to have a strategy ( a clear, well developed, well defined forex trading strategy).

You will know that you are a self disciplined trader if you always follow your sytem, follow your strategy, trust and respect your system and strategy whatever happens. It things come to worst, know how to fix them. And find out what went right, too. And keep doing what went right until you make a million dollars trading forex.

DETERMINATION – and of course, determination! Determination in forex trading is highly recommended because if you don’t have determination, you will not be here in the long run. Be determined in forex trading when you lose but don’t revenge. Be determined to learn the skills needed.

Be determined to FOCUS on the right thing. And be determined to forget the loss trades but learn from those losses. A successful trader was defined not on the trades he entered during his career, but the profits made when was began trading forex. So, instead of entering many trades, try to not overtrade and focus on studying what went wrong and what went right and keep doing what went right until you make a million dollars trading forex!

Part 2: How to Make a Million Dollars Trading Forex?

Don’t make me wrong if this article was a little bit confusing. Making million dollars in forex trading also requires reasonable capital. If someone told you that for only $1 capital, you can make $1,000,000. That’s not true! Yes, you can start forex trading with $1, however don’t expect to make $1,000,000 with that capital. Let’s have some simple calculation here;

• Trading Balance: $1,000
• 2% Risk: $20 Per Trade
• Lot Size (50 Pips Stop Loss) $20 divide by 50 pips is 0.4) divide by 10 trades = 0.04 lot size per trade

Note: Do you think you can make a million dollars for 0.04 lot size per trade? Hmmm? Think about it. 2% risk is recommended.

By compounding interest, you can make million dollars in forex trading (if you win consistently). Here is how it works. If you manage to make 30% profit per month with a total 360% per year. For $1,000 account balance according to this compound interest, a trader can make more than million dollars trading forex ($1,118,628.88)

Let me know what you think about this article. Do you know a secret to make a million dollars trading forex the easy way? Then share it! No professional forex trader believe that “forex trading” is easy! Use the comment box below!