How to Make Millions Trading the Forex Markets with just $20!

Friday, October 24, 2008

How to Make Millions Trading the Forex Markets with just $20!

I am here to explain how you, with a little luck and patience can make MILLIONs trading the Forex markets with just $20! We will use the power of leverage to turn our money into a much larger sum, and then trade with it!

Instructions

Step 1
Find $20 lying around, and then open an account at FXOpen.com. You don't absolutely have to open it there, but it offers 500:1 leverage which is exactly what we need to make this work. Any other brokerage that gives you 500:1 leverage will work fine.

Step 2
Deposit your $20 or more into your FXOpen account, and open MetaTrader 4 which comes as a free download from FXOpen. MetaTrader 4 is the program in which you will trade, that offers charts, news, and brokerage updates.

Step 3
Understand the power of leverage, and then find a trade to use it. When a brokerage offers 500:1 leverage, they are saying for everyone $20, they will give you the buying power of $1000. When you trade foreign currencies, you make money based on how many pips the currency pair goes up or down. If you have $20 at 500:1 leverage, you will make $1 for every pip it goes in your direction. With $200 at 500:1 leverage, you will make $10 for every pip it goes in your direction.

Step 4
Find the right trade. Currency pairs can go up or down in excess of 300 pips on some days. With the above figures, we can figure out that if you put $20 on a trade with 500:1 leverage, and it goes a measly 20 pips in your direction, you will have made $20 or 100%. Apply this set up to a trade where you put $2,000 down, and you will be making $100 per pip! That is $2,000 for only a 20 pip trade!

Step 5
Continue finding solid 20 pip trades that will make you 100% of your balance. As your account continues to grow you will begin to have the ability to make an entire year's salary in only one 20 pip trade!

Step 6
Withdraw some of your earnings every now and then and have some fun with it! The point of making money is to have better life, so make sure you have a balanced lifestyle as trading can get stressful.

· Don't get greedy and stay patient! You will have $20k by trade 10, and $1.3 million by trade 16!
· Visit sites like Babypips.com and Forexfactory.com for trading tips.
· It only takes one no-brainer trade every 2 days to have more than $1 million in your first month!
· Don't fool around with the power of high leverage. Though it is true it only takes 20 pips at 500:1 leverage to make 100%, it also only takes 20 pips against you to lose your ENTIRE ACCOUNT. Please exercise caution when choosing your trades.
· Don't just guess when you trade, RESEARCH!