Almost all novice traders think about how to make a million in Forex. At the same time, they begin to calculate in their heads by how many percent it is necessary to increase the start-up capital in order to get the required amount in the shortest possible time. They confirm their plan on demo accounts, but having switched to real money, they face a number of difficulties.
Instructions
Step 1
Learn all the basics of Forex trading. It is necessary to fully familiarize yourself with various trading strategies, understand the principles of trend movement and understand the main signals. You also need to familiarize yourself with technical and fundamental analysis. This will be the most difficult stage in your training, since in the first case you need to study many market patterns and learn how to recognize them, and in the second - to deal with external influences on the movement of currency pairs.
Step 2
Create your own trading strategy or choose one of the existing ones. Make a detailed plan of action, determine the points of entry and exit from the market, and calculate the required amount of profit. Work your strategy to perfection on demo accounts.
Step 3
Open a live account with a brokerage company. Get the trading platform and deposit the initial deposit amount into your account. It should be relatively small. You should not immediately invest all available free funds, since 90% of all novice traders lose their first installments when faced with an emotional factor.
Step 4
Make small bets and learn to control your emotions, which are the main enemy in the Forex market. Don't be discouraged if you lose. Consider your mistakes and analyze the reasons that led to them.
Step 5
Determine the right moment when you are ready to start making a million in Forex. You must be savvy in trading, be able to analyze and predict, and most importantly, to fully control your emotions.
Step 6
Replenish your account with the required amount of the deposit, which, according to your calculations, is suitable for making a big profit, and start realizing your ideas and aspirations. If you do everything correctly and do not violate the trading strategy plan, then you can soon become one of the owners of a million in the Forex market.
