Can you turn your $500 into $150 million trading Forex and commodities in the next few years? You might say it is impossible. Well, this is exactly what Richard Dennis did in 1970s and 80s. Richard Dennis once upon a time was a small time trader. He started with only $500 and over the next decade turned that small amount into a fortune of $150 million. Today, he is considered to be a trading legend.
Let’s take another example. Bruce Kovner was once upon a time a NYC Taxi Cab Driver. He wanted to trade Forex and commodities but didn’t have any money. So, he borrowed $3,000 on his master credit card and made his first trade in soybean futures contracts. He made $40,000 in that trade and then watched that amount drop to $23,000.
This was his first trading lesson that taught him the importance of risk and money management. He once said that the most important thing in trading is risk and money management. Over the next few decades he made a fortune of around $4.5 billion. Today, he runs his own hedge fund Caxton Associates, LLC that is ranked amongst the top 10 in the world.
These two stories illustrates one simple fact that is plainly overlooked by most. You don’t need a large sum of money to succeed at trading. What you need infact is proper training, the right methods, patience, persistence and of course discipline. What you should do is start small and over time compound that small amount into a fortune.
If you have been thinking about learning Forex and futures trading but postponing it because you didn’t have large sums of money, then you must know this fact that you can start trading with even $200 on micro lots and over the next few months turn that into a few thousand dollars. Then turn those few thousand dollars into a few hundred thousand dollars.
But to do that you will need the right training and the right trading system. Most of the info is now freely available online. Some of the free Forex trading systems are real good. First practice that trading system on your demo account. Market will be always there waiting eagerly for you to attack them. So don’t rush! First prepare yourself by getting proper training and then practice what you have learned. Once, you have mastered your trading system, start with not more than $500 and trade micro lots. Grow that $500 into $4,000 in the next few months. This will be the best Forex training you will ever get! Once, you have done that. The road is all open for you to make a fortune trading forex and commodities.
Mr. Ahmad Hassam has done Masters from Harvard University. Watch these Forex Income Engine Trade Alert Software FREE Forex Training Videos. Try the Macro Millionaire Coaching Program RISK FREE for 90 days!
- How to Use Forex Reviews to Your Advantage in Online Forex Trading (forextradingsystemcentral.com)