Did you ever want to run a million trading account?
Of course, you want it and no doubt you are capable of making it true. Every forex trader wishes to have a trading account which grows limitlessly and converts his thousands into millions.
You can never achieve your destination if you choose the wrong path. Mostly traders waste plenty of their time in searching for a short passage to grow their trading account. The reason for finding a shortcut is that some of them don’t believe in patience and become greedy. Some lack confidence in their personal skills and most of them become overconfident about their trading abilities.
After many years of experience as a forex trader, I must acknowledge you that there is neither any slip nor any lapse in forex trading that will help you to make a million account. Your perfect strategy also will not make you able to achieve your goal without knowing a truth. In this article, I am going to reveal that truth. This belief will make you more satisfied and help you to avoid any further mistakes in your forex trading.
You Don’t Deserve More Money
Did you ever ask yourself that Are you worthy of a larger forex trading account? Do you have the perfect skills to run a million account? Is it the right moment to go for a larger account?
You must ask because there is a great proverb “Be careful of what you wish for, you might get it”. This means that before wishing something special you should know that if you are really capable of owning that thing.
Let’s suppose that you are running a small business. That business is not going well, bearing continues loss, and is in massive debt. But you are unable to manage the current situation. Then if you are planning to lend some money from a business lender to invest in your business then maybe you are right and it is going to yield a great profit or maybe you are wrong and going to through more money into wastage, it depends on the strategy you use but it will be a real hard task for you to drain money from the lenders. Nobody wants to be in a loss, so no one will even think to invest money in down falling business.
But if your small business is growing well. It has an impressive market value, has a high rate of sales and has efficient management in economics. Then nobody will refuse to invest in your company and lend you any amount of money.
So, if you have a small trading account then you must have a full grip on it. You should learn about the management of risks properly.
The Market is Your Lender
You are working as a forex trader having a small trading account, it depends upon your trading style whether you take forex market as your competitor or your lender but a good forex trader will always see it as his lender. Actually, this market is the best lender you can ever have. Because forex market has $5 trillion a day worth of liquidity for starters. Also, you never have to pay back the full amount if you manage your account and capital perfectly. This makes the forex market an excellent lender.
If your small trading account is going through a bad time and is not generating profitable results then absolutely it means that you are not using the right strategy or you are unaware of risk management. It leaves a bad impression over the forex market. So, this great lender will never invest in you if you are unable to manage your capitals perfectly.
You must have the perfect skills to manage your account. Otherwise, you will not be able to attain any money from the forex market to grow your forex account. You have to make your reputation as a good forex trader. Just show them that you are worthy of a larger trading account by efficiently managing your small account.
A Few Simple Ideas
To show a good reputation for the forex market you must follow these simple and basic ideas:
- Don’t go for overtrading.
- Wait for the right time to do the action
- Don’t be over excited and remain calm
- Your risk per trade should be small
- You should run a manageable account
These ideas are fundamentals of a good forex trading and much easy to implement. They will save you from wasting further time in searching shortcuts and easy ways to own a million account. Hence the main objective behind this valuable article is that don’t be needy of the larger forex account. You should manage your small account perfectly. You will gradually be shifted to larger account with time by implementing these basic ideas.
Final Words
Are you worthy of a larger forex trading account? is the main question of this article. After employing all these ideas you will surely get an answer to it.
The traders who are struggling with managing their small account can never manage a larger account. They fail to find a direct and faster path toward a larger account. After this failure, they try to cheat the forex but it is an impossible task for them. The forex trading is number one trading portal this time, which doesn’t have any kind of flaw in it. You can never cross their way of trading. So, don’t be one of them. If you have a good standing and trading precisely then they will definitely show interest in you. You will get more support by gaining more reputation.
As Paul Tudor Jones once said “Where you want to be is always in control, never wishing, always trading, and always first and foremost, protecting your butt. After a while size means nothing. It gets back to whether you are making 100% rate of return on $10,000 or $100 million dollar. It doesn’t make any difference”
Which means that you must have a full control of your account and manage your capitals efficiently. You should focus more on maintaining them, and less on growing them. It doesn’t matter how much money you handle, the only thing that matters is how you handle it.
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