3 Tips On Becoming A Forex Millionaire in 14 Months Starting With Only $100!

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You must dream of becoming a Forex millionaire. Many new traders dream of becoming a Forex millionaire within one to two years, but give up after a few months when they lose their hard earned money. The problem is that most of them don't have a business plan. Well, if you sincerely follow the following trading plan, you can also become a Forex millionaire.

Become a Forex Millionaire Tip # 1

Learn about Forex trading first. Most of the information is available free online. Choose a Forex trading system that you think suits your personality and style. This Forex trading system should have a 60 day money back guarantee. That way you can try this system and if it doesn't work you can get a refund. The right choice of your trading system is very important. You don't need to rush. Discover the different Forex systems that are sold in the market. Make a list of at least 3 best Forex systems. Make sure that the Forex systems are easy to trade and do not take more than 3 to 4 hours a day to trade.

Become a Forex Millionaire Tip # 2

Test the best Forex system in your opinion on your demo account for one month. If you find the system difficult to exchange, opt for a refund. Choose the second Forex system from your list. After testing or two systems, you will find the system that works for you on the demo account and makes a 100% return per month. Once you've mastered the system on your demo account, it's time to trade live.

Become a Forex Millionaire Tip # 3

Now, we are not going to trade live on a standard account right away. What we are going to do is deposit $ 100 on a micro-account and exchange micro-lots with this system. Your goal should be to get a return of 100% or more every month. When you trade on a micro lot, 1 pip equals 10 cents. So losing 10 pips means losing $ 1. However, if you lose 10 pips on a standard lot, you have lost $ 100 and you need at least $ 1000 – $ 2000 to trade with a standard lot.

What we are going to do is try to double that $ 100 in a month. That means making a return of at least 100% in a month. Losing 100 pips on a micro-account only means losing $ 10. So you are safe when trading on a micro account. Test a system on the micro-account and if it doesn't 100% return per month, get a refund and try the second best system on your list.

Once you find the system that makes 100% return on your micro-account, it will make your $ 100 into $ 200 by the end of the second month and $ 200 into $ 400 by the end of the third month.

You must now switch to a mini-account because you want your trading risk to become more realistic. 1 pip on a mini account is equivalent to $ 1. With this same trading system, now transform this $ 400 into $ 800 at the end of the fourth month and this $ 800 into $ 1,600 at the end of the fifth month.

Do not rush. These five months will teach you a lot about how the Forex markets change and how your trading system works when market conditions change and you will also know if your broker is good or not, what leverage to use and how to manage risk. Now you have $ 1,600 in your account, you can switch to your standard account and start making a 100% return per month or more. Do the math, you will be a millionaire in the next 6 months.


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