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LESSON: Save, Trade & Profit

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[op_liveeditor_element data-style=””][text_block style=”style_1.png” align=”left” font_size=”16″ font_font=”Montserrat” font_color=”%237e7e7e”]A major problem that a lot of traders have is that their account size when they first start trading is not as large as they would like it to be.

The simple truth of the matter is; the bigger the account size the easier it becomes to trade. The reason for this is simple. The bigger the account, the less trades have that have to be made and the less profit has to be made to make the same returns.

Example Math Scenario;

Here is a simple example; if trader A has a $10,000 account she has to double that account to make $10,000 profit where as if trader B has a $20,000 he only has to make 50% and he has made the same profits.

Another way to think about it is like this; if you have a $1,000 account and you make a HUGE 10% winner which is an absolutely massive winner, you would make a profit of $100. However, if you had a $100,000 account and made only a 1% winner you would make a $1,000.

See the difference account makes? In that last example, you made 10 x the profit with a winning trade that was 1/10th of the size.

Basically the bigger your account the bigger profits become.

This is Why I Have Been Stressing To You…

This is why it is so, so, so important traders don’t blow whatever capital they do have learning to trade, even if it may seem small to them, it is still a starting base. Instead of blowing this capital, start a savings account or investments account. This will be the “live Forex Trading Account”.

Even if it is $20! Start there and add $2 next pay. No I am not joking.

Next time you are in the shopping line doing your grocery shop look at the person in front of you and to the side and think about this; the habits you create now, in the next minute, tonight, tomorrow morning are what you will become.

What you buy, if you save, or not, each day. Each small action over and over change the outcome for individual – YOU.

Every spare coin or cash you get start putting away into this account and start building this live trading account. Do whatever you have to do to start building this account up. Divert cash into your live trading account. Simply start doing whatever you have to do to begin building this account into something decent.

Whilst this account is locked away start trading the demo account. On this demo account you should be trading to become profitable.

In the Students articles we have a lesson titled The Students Minimum Requirements.

You need to follow this path to become profitable. You should not start trading a live account until profitable on the demo for three months in a row. Please read the student’s path as how to become profitable and how to fund your account appropriately is also included in there.[/text_block][/op_liveeditor_element]