Trading with Consistency is the Key

Filed under: Learn Forex Trading |

 

Many people think that if they are only making $50 per month from trading forex, then they are wasting their time. But this all depends on how large you trading bank is.

 

If you can only afford a trading bank of $1000, that a $60 gain on average each month equates to a 6% gain on your bank, which is actually very good indeed. If you can make a $60 gain per month on a bank of $1000 and use the principles of compound interest, then after one year, your $1000 will have risen to $2000. Not bad. But it gets even better.

 

If you can continue this consistency of trading, then after two years your bank will have risen to $4000, after three years $8000, and… wait for it, after ten years your $1000 will have grown to a massive $1,024,000! Now that is the powerful of compounding.

 

So don’t be worried about starting small – think about trading consistently and being consistently profitable. If you can do this, even on a small scale, then you could quickly grow your bank to something more meaningful. Making a 6% gain on $1000 might not seem like much – but the principle is the same. If you had a bank of $100,000, then 6% would equate to $6000, which would represent a very nice monthly salary. So don’t worry about the money too much when you start out trading, think about trading consistently and slowly growing your bank. If you can do that over the long term, than after a while, you will be doing very well indeed. Don’t try to run before you can walk, and learn the art of trading. If you try to make a salary from day one, then you are more than likely going to fail; but if you treat it as an education that one day might turn into a profession, then you should be on the right track.

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