THE SECRET TO MAKE THOUSANDS IN FOREX TRADING IN ONE TRADE!
Either you are a forex trader, or you want to be a good one, the secret to earn a lot of money in one trade is to plan for success. It takes a lot of patience and persistence to reach at this level, having in mind that the money you will earn in one day, will be more than most of the people earn in at least a year working a 9 to 5 job that they do not really like!
First of all, you have to clear all negativities and blockages you have in your mind. Ideas of the type that money is hard to earn, money is evil, etc. If you believe so, then it will be so and you will never let yourself really earn big money not only in forex but elsewhere.
Big money is not hard to earn in Forex, the hard thing is to reach at that level, the level of earning thousands in a few mouse clicks and some hours of patience.
How many people do you personally know that have reached that level of confidence?
Earning more money in one day than the majority of people earn in a year is possible, but you have to follow some rules.
BELIEVE THAT IS POSSIBLE
George Soros earned more than a billion dollars in one good trade back in 1991. If he has earned so much, they why not you earn a relative small amount, let's say $10,000 in one day? Remember, you are the one that you set the mark and nobody else!
BE HAPPY WITH SMALLER AMOUNTS AT FIRST STAGES
If you have just started to be profitable in Forex Trading, then be happy to be consistent than earning big money in just one trade. The problem with forex traders and all other traders in financial markets is that at the same time they start to earn big money, they start to make also stupid mistakes that after they could not believe how they did so!
DO NOT LET GREET CONTROL YOU
Earning a lot of money fast, or even the desire to earn that big money fast, can make someone drunk! Yes you have correctly read it. It is like when you drink alcohol and you start to lose your mind, but you do not stop drinking though!
You drink more and more because you are drunk already, and you have lost your sense of stability. In other words you are out of control, and surely, you will continue to drink or start behaving like a drunken.
Exactly the same happens with forex trading.
Someone without a lot of experience in handling big amounts of money, and with the desire to earn big money fast, can behave exactly like a drunk person, and lose even all the money of his account in just a few mouse clicks! In fact this is the reason why most forex traders lose all their money soon, because they lack of control.
The best way to overcome this is to be happy with small earnings.
You have $1000 in your account in the morning, and after a couple of hours you have $1300, but at the end of the day, you have only $500! What happened here?
We have a greedy trader that has earned 30% of his account balance in a couple of hours, and he just got drunk! Instead to close his computer and go out, have a nice walk, enjoy a good meal with friends, etc., he got drunk by the feeling that he can earn more, and lost the $300 that he earned, plus another $500 loss on the top of it, and at the end of his trading day he is in loss and not in profit!
Do you recognize yourself in that losing pattern? The money that you have earned is sure money. The money that you will earn is under question. Even in the case that our trader after earning his $300 wants to earn more, he can open a position with a smaller trading size, so if he loses, he will lose maximum $100 - $130 and not more.
DO NOT OVER TRADE, INSTEAD HAVE FUN
I have been watching the accounts of forex monthly champions for several months. Some champions were opening several positions per day, even more than 10 - 20.
But I will not forget that champion trader that has opened if I remember well, just 3 positions in the beginning of the month, and he let his positions grow.
By the end of the month he was one of the 5 traders that were between the best traders of the month. This kind of trades cannot happen every month though, it depends on market factors, but it is possible to hold a position for more than a week in many cases.
Surely most of traders are daily traders, and open and close several positions per day, but what do you think is more fun and enjoyable?
Open and close an average of 15 trading positions in one day with several currency pairs, earning you an average of $10 - $20 per trade or opening just 2 - 4 positions per day, earning you an average of $100 - $200 trade?
Which trading style is more relaxing for you? How about your stress levels if you open and close an average of 15 positions per day? How long you can last with that type of trading?
Remember, life is not all about money and trading. Life is fun, and you should enjoy life every day. I do not think that you can really enjoy life to the full, if you are stuck on your computer all day long, increasing your stress levels every half an hour!
Your trading style is entirely up to you, but this article is about earning big money in forex trading not in one year, but in one day.
So, you should prepare yourself first to enjoy your trading time, and make the maximum amount of money in the minimum time.
If you are the stressed type of a non-experienced trader that opens and closes 20 positions per day, and you have managed to earn in one day let's assume $5,000, the more chances are that you will lose this money soon, if you just go back next day and try to earn another $5,000!
The reason for this is simple. You will feel subconsciously guilty if you have negative ideas about big money, you will get greedy, and as written before, people who feel greedy they behave like a drunken!
The best way to overcome this problem is to relax after a big earning day, get the money out of your account as soon as possible, and enjoy yourself!
Forget about trading for some time. It took you so long to reach that level, now you have earned some big money, is celebration time!
You remember that trip that you were thinking to make to France? Are you still in touch with that young woman that you met online a few months ago, and she ask you to visit her country and she can show you around?
Well, I forgot that not everybody is single like me, so how about that 3 day trip to Italy that your spouse would love to share with you?
Do you get the meaning?
You have earned big money in one day, bravo!
Now it is time to spend some money and enjoy! This is what forex trading is about at least for me, being able to earn big money so I do not have to work all day long, and just having fun! If I wanted to stay in the office and work a 9 to 5 job, 5 days per week, 52 weeks per year, then definitely I would not like to be a forex trader!
Forex trading is about freedom!
Forex trading is about doing the things that you dream of doing, but you cannot do holding a normal 9 to 5 job. But you see, the most important is to be patient and plan for the days that you will be able to earn big money in just one day, and then rest and enjoy it!