Before you continue, you must know the truth about trading…
As they say… the truth hurts.
Are you ready?
Truth #1 — You need money to make money
Forget about taking a $1000 account and turn it into millions. That is achieved through gambling, not trading.
Instead, you should look to make an average of 25% per year (this depends on your risk appetite and trading style).
On a $1000 account, you’re looking at an average of $250 per year.
On a $1m account, you’re looking at an average of $250k per year.
On a $10m account, you’re looking at an average of $2.5m per year.
Get the picture?
This is extremely important, but most traders don’t get it.
Last but not least, only trade with the money YOU WILLING TO LOSE. This is part of your own risk assessments.
Truth #2 — There are different ways to profit from the markets
Warren Buffet, considered the world’s greatest investor, invest based on fundamental analysis only.
Ed Seykota, considered the world’s best trader, trades based on technical analysis only.
Mark Minervini, a stock market wizard, trades based on fundamental and technical analysis.
So what’s my point?
My point is…
There are different trading methods that work. You need to find something that suits your lifestyle, schedule, and personality.
Then… find a proven trader whose style suits you, and copy him.
There’s no need to try and reinvent the wheel.
Truth #3 — Trading is hard work
Forget about trading by the beach while sipping a glass of pina colada.
These are marketing gimmicks used to lure you into the game.
Instead, this is what goes on behind the scenes of a pro trader…
A pro trader follows his trading plan. He knows how to enter, exit and manage his trades at all times.
A pro trader records every single trade he took.
A pro trader reviews his trades on a regular basis.
A pro trader never stops learning.
A pro trader is always finding ways to improve his trading performance.
A pro trader is there before the opening bell and stays after the closing.
So… leave all your dreams of making quick and easy money behind.
You can start your trading with free money – free bonus no deposit required at FXOpen here. After which when you are done going through the steps, sign up a ZuluTrade account to start autotrading as well. I would also recommend that you join MQL5 Community where there is alot of resources to tap upon – trade signals, trade tips, news, tools. Feel free to copy / follow my Zulutrade profile here.
Do join our Facebook group at https://facebook.com/groups/cpinvex and share your ideas.