I have two clear answers for this question and I explain about each of them in details:
- Yes, you can.
- No, you cannot.
Making lots of money through Forex trading is completely dependent on some special conditions.
When someone has the proper conditions, he can make millions through Forex trading.
When he doesn’t have the proper conditions, he will do nothing but wasting of time and money.
– What Are Those Conditions?
You can increase your wealth and become richer through Forex trading and become a millionaire or even a billionaire.
However, if you are among those who want to turn a $500 or even a $5000 account into millions, then I have to tell you that you will have a hard time.
I am not saying that it is impossible to make millions with Forex.
Anything is possible in this world.
However, you have to be patient, because it can’t be done overnight, or even in one year.
You will be faced with some challenges that finding a good broker that doesn’t cheat you, is the biggest one.
Forex brokers don’t let you grow your account consistently, because in most cases, your profit is their loss.
– Forex Is Not a Get-Rich-Quick Scheme
Currency trading is not an easy way of making money and making a living.
It is the same with the stock trading and all the other kinds of tradings and investments.
To make money consistently through Forex trading and maybe to become a millionaire finally, you have to pass some important stages.
There are so many jobs that you can follow and become a millionaire.
It is not the job that has to make you a millionaire.
It is “you” who has to follow the job properly to become a millionaire.
For example, there are so many millionaire real estate agents and brokers in big cities like New York.
However, there are a lot more agents who cannot even cover their monthly expenses in the same cities.
All agents are in the same areas, have access to the same markets and customers, ruled under the same jurisdictions, use the same advertising media and… .
But, how can some of them become millionaires, and most others fail to have even one sale per month?
Whatever the reason is, it has nothing to do with the real estate business itself, because it is the same for all the agents and brokers.
The reason is in the agents and brokers behavior, life and work style.
– Behavior, Life and Work Style
Forex trading is like that too.
It possible to become a millionaire through forex trading, as it is possible to become a millionaire through stock trading, programming, marketing, importing and exporting, constructing, and…
The more important question is “how?”
There are two things that you have to do to become a millionaire Forex trader:
1. First you have to learn and master the trading techniques.
2. You have to have a reasonable amount of capital to invest in the Forex market.
You can’t become rich through growing a $500, $1000 or even a $10,000 account.
It is not even possible to make a living through such an account, whether you master the trading techniques or not.
I’ve never seen even one single retail Forex trader who has become able to become rich or millionaire through growing a small account with a retail Forex broker.
Even I’ve never seen a Forex trader who has been able to make a living like this.
There is no consistently profitable and professional currency trader who trades through the retail Forex brokers.
You have to have enough capital to trade currencies through a bank account.
And, as the bank accounts are not leveraged, your capital has to be reasonably enough.
Those who don’t believe in what I explained above, can spend some time and money on retail Forex trading through the retail Forex brokers.
I am 100% sure that they will remember what I’ve explained above, and will be back to this site after losing a lot of money and wasting a lot of time: Trading Strategies Don’t Work If You Don’t Choose the Right Living Strategy