January 15, 2011
Could I become a millionaire in 2 years by trading Forex starting with £4,000?
By Planet Wealth
I will be 18 soon, will have saved up £4k and I’m looking to trade forex by using CFDs which give you 1:200 leverage with them. Would it be possible to parley my £4k into £1 million in 2 years trading forex using CFDs and has this, or anything similar with forex ever been done before?
Topics: trading tips | 6 Comments »
6 Responses to “Could I become a millionaire in 2 years by trading Forex starting with £4,000?”
Comments
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January 15th, 2011 at 12:46 pm
Not realistic at all. Forex is very high-risk.
January 15th, 2011 at 12:46 pm
You could but consider the fact that most people fail in FOREX. You should strive to make 50-100 pips per week AFTER you have enough experience to trade live. And don’t listen to anyone who offers you a robot or some form of automated FOREX system. They just don’t work and you’ll lose all your money. The only software that works for FOREX is in your brain (Knowledge + experience)…
January 15th, 2011 at 12:46 pm
It is certainly possible to do this but it is highly unlikely that you, or even the most experienced traders, will be able to accomplish this. You would have to take incredibly high risks and have an incredibly high win ratio.
It would be a much better thought to excise caution and excellent money & risk management. You will then be able to make consistent profits and build your portfolio up over time. Do not rush into the forex markets as their high rewards are paired with high risks.
January 15th, 2011 at 12:46 pm
You will need to be right pretty much every time.
If you are incorrect, you will prob lose it all.
Odds are starting with £4k, you would prob have one of the most successful track records over 2 years if you pull it off.
January 15th, 2011 at 12:46 pm
Yes you could. Also possible to lose the £4k. Are you sure you trade FX with CFDs??
January 15th, 2011 at 12:46 pm
Theoretically, you could start with 4,000 pounds and become a millionaire. But, there are no recorded cases of anyone starting with a small amount of money like 4,000 pounds and becoming a millionaire. Therefore I reckon your odds of making it are remote. Most people lose money in Forex. Most of the books and internet sites are full of methods that don’t work.