Have you just started trading Forex? Maybe you've been doing this for a while, but you haven't made any money at it? That's not good. In fact, it can hurt your emotional well being and your closest relationships.
That is enough with the sad talk. I want to tell you how you can make your first $500 in currency trading. It's really not as hard as you think it is. However, it will probably take longer than you would like it to.
Did you catch that? This is going to take longer than you want it to. That isn't because it really takes long to make $500 in currency trading. It doesn't.
You can do that in half an hour. Heck, you can do it in less than that. So, why is this going to take you so long? It's because you aren't in a mental place where you can make money in Forex.
That's what this is all about. I'm going to help you get you in that mental place. Here's how...
1. Trade only in demo mode. Use any of the proven available Forex method (yes, there are a number of them).
2. After you are profitable for several months, you can now trade with real money. However, you can only use a 1 cent broker. This is even smaller than a micro-lot account. This way, if you lose 100 pips, all you've lost is $1. Yes, you can afford this.
3. After being consistently profitable in the small Forex account, you can move to a micro account.
4. Following several months of success in the micro account, you can now trade mini-lot account. This is where one pip equals $1. You are now free to make $500, and will probably do so quickly.
So, why did I have you do those four steps? What was the purpose? The purpose was to get your mind used to the idea of consistent success in forex without the financial pressure. Imagine trading the 1 cent per pip account.
If you lost 1000 pips, you'd only be down $10. See? You can do this.
That is enough with the sad talk. I want to tell you how you can make your first $500 in currency trading. It's really not as hard as you think it is. However, it will probably take longer than you would like it to.
Did you catch that? This is going to take longer than you want it to. That isn't because it really takes long to make $500 in currency trading. It doesn't.
You can do that in half an hour. Heck, you can do it in less than that. So, why is this going to take you so long? It's because you aren't in a mental place where you can make money in Forex.
That's what this is all about. I'm going to help you get you in that mental place. Here's how...
1. Trade only in demo mode. Use any of the proven available Forex method (yes, there are a number of them).
2. After you are profitable for several months, you can now trade with real money. However, you can only use a 1 cent broker. This is even smaller than a micro-lot account. This way, if you lose 100 pips, all you've lost is $1. Yes, you can afford this.
3. After being consistently profitable in the small Forex account, you can move to a micro account.
4. Following several months of success in the micro account, you can now trade mini-lot account. This is where one pip equals $1. You are now free to make $500, and will probably do so quickly.
So, why did I have you do those four steps? What was the purpose? The purpose was to get your mind used to the idea of consistent success in forex without the financial pressure. Imagine trading the 1 cent per pip account.
If you lost 1000 pips, you'd only be down $10. See? You can do this.
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Article Source: http://EzineArticles.com/?expert=Nathan_Pennington Free report, "How To Pocket 81 Pips Per Day Using A Forgotten Method". You can download your free copy from http://profitable-forex.com/report [http://www.profitable-forex.com/report/]
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