Learn From These Ordinary Every Day People Who Made Millions Trading Different Markets!
How many times, you have heard this oft repeated statistic that more than 90% of new traders fail and give up trading in just a few months . Trading is a serious business. Only a few become sucessful traders who make a living out of trading .
Yet, still daily millions of ordinary people around the globe wake up, turn on their computers and try to make a living trading the financial markets online . After knowing that more than 90% lose in their first few months, do you still want to try trading?
The same statistic of failure exists in other businesses like restaurant business . Starting a new business is not easy. Success requires determination and hard work.
Still the possibleness of making it big never stops people from starting new business ventures. So if you are interested in trading forex, stocks or futures or whatever you want, you will have to show a degree of determination if you want to succeed . Watch this weird 30 minutes Stock Trading Video just now. If you want to learn forex trading, watch this forex story on video!
Kathy Lien is a professional forex trader who has written many books on forex trading. In her book, “Millionaire Traders”, she interviews 12 ordinary but amazing people who were determined enough to succeed and make it big .
All these 12 stories are remarkable . The rag to riches story of Hoosain Harneker is especially worth mentioning. He lost around all his saving in a failed business partnership.
One of his friends advised him to trade forex . Now interestingly, his friend lived in another country and they were in contact with each other only on email. So his friend emailed him the forex trading system that he used daily to make a successful living from trading currencies . It was based on simple moving averages. Hoosain had one problem. After having lost all his money and savings in a lost business venture, he was not in a position to cough up even a few hundred dollars to open a forex trading account with a forex broker .
Hoosain took six months to save $1000 to open an account so that he could trade forex . During those six months, in the night, he would learn how to trade forex on his demo account . Never underestimate the importance of trading the Forex Demo Account.
Hoosain’s wife was anxious that he would lose his money. Hoosain knew this so he promised her that if would quit forex trading if he lost those $1000 . All the 12 people in the Millionaire Traders blew up their accounts in the beginning except Hoosain .
Hoosain’s only advice to beginning forex traders: Practice on your demo account and double your amount three times in a row . Don’t take up live trading before that. Paper trading will make you confident to face the daily emotional excitement of the forex trading.
Now, most of the new traders jump straight into live trading without practicing much on their demo accounts. After a few consecutive losses, they give up, considering forex trading to be difficult.
Forex trading needs a lot of discipline and determination . Learn from the success stories of these 12 ordinary but remarkable people . They had the determination to succeed and this is what you will also have to show if you want to succeed . All are millionaires now .