Everyone can become a trader, but only a few people have potential and patience to make millions. As opposed to them, there are numerous cases when traders lost both raised and invested money.
In this article, you’ll learn how to find a middle ground between these two stations and effectively achieve long-term goals in trade.
Shortly about Forex
Forex is a financial market when the exchange of currency happens. Playing on the difference in exchange rates you can gain yourself a profit, the sum of which varies from insignificant amounts of money to really big ones. This process is called trading. The success of your trading venture hinges not only on fate swings but knowledge, experience and chosen strategy.
Can you name anyone who made a great deal of money on Forex?
Yes. However, if you dream to become a billionaire tomorrow and never worry again about the lack of money, you’ll be disappointed. The people who really succeed in the Forex trades have been working on it for years. A world-famous man, Richard J. Dennis, was able to make more than 150 million dollars, but his one bid’s profit was around 5 percent.
How much money would I raise?
The precedents of great achievements on Forex won’t be precedents if they’d occurred daily. More than that, even when traders make a success, they let down their guard and loses everything in no time. A fortunate trader earns 10-20 percent of invested deposit per month. The bigger the deposit, the lower are risks, because you may trade in a small percentage but still make a considerable profit.
If you’re ready to start trading and looking for a broker, read the article about AvaTrade.