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!
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!
Things You'll Need:
- At least $20, $1,000+ is preffered.
- A computer with an internet connection.
- An account
- A basic trading strategy
- Step 1:Find $20 lying around, and then open an account at an online trading institution. 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 account, and open MetaTrader 4 . 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.
