... or how you can turn 10.000 euros into merely a million in 4 years...
Hello guys... and thank you for reading, commenting, liking my articles... They just represent some simple-written thoughts which in my opinion are 100% essential for someone who wants to turn into a pro trader...
In the previous article I had placed my arguments regarding the need for low leverage trading in order for a trader to preserve his capital... But that is not all! A trader must also have goals.. viable ones.. and easy to succeed on..!
Now, let's get to the practical one... Assuming you have a capital (nomatter what the size of it is) and in the beginning of the month you make some calculations for the range of a major currency pair for this month... you hit the low for the month and sell somewhere in the middle with a profit of 300 pips while you have only leveraged your money 2 times... that means that you make a profit of 6% with this intramonth position... do you think it's hard?.. try to work on it and you'll see it's much easier than you think...
Now, let's go to each week seperately... let's assume that you make an estimation for the range of the current week and you manage to gain 100 pips while you have only used your capital completely unleveraged!!! that means that you made a profit of 1% for this week or a cumulative one of 4% for the 4 weeks of the current month..! I continue to think this is an easy task for a semi-experienced trader..! But, let's make it even harder... let's assume that the trader made no other trade during the month... no scalping pre-NY trades, no news-trading, nothing..! he just got this 6% of the intramonth trade and 4% of the intraweek trades, so he grew his capital by 10% for the current month..!
If you think this is a small profit, since many traders aim for 30 - 40 -100 ... % / month many would probably agree with you... even me! But the thing is not to be highly progitable for one, two, three months and then wipe out all your capital... the trick is to be constantly profitable! This is where the key to your success hides... If you manage to grow your capital 10% / month, then you will triple your capital every year (using the compounded effect)!!! Triple!!! 10% every month triples your account every year!!!
Let's be even more practical and add some numbers... assuming that your starting capital is 10.000 euros... then by the end of the year it will have grown to 30.000 (3 x 10.000)... the second year will finish with your equity to 90.000 euros (3 x 30.000)... third year, and your capital is 270.000 euros (3 x 90.000) and the fourth year will get you close to the million I talked about ... 810.000 euros!!! That is all it takes... some good perception of the market and consistency! And you can get easily with in a 4-year period close to 1.000.000 euros of capital! It is hard but not as much as you probably think! You can get there..!
So,  the trick is to be patient, be constant and don't leverage your account too much!

Thank you for your time!
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