There are ways to properly build a trading account. The main thing to think about when building one of these is what the right thing to choose is. You don’t want to make it based on any other factor, other than what is right. There are two ways to make a lot of money trading currencies. Risking a lot of money is only one of them.
- A week ago, for instance, I was at a Toastmasters meeting in Hangzhou. I’ll leave out some of the details, but I mentioned to a few people I was involved in Forex trading. Their response was almost along the lines of “Wow, you must make a lot of money!”.
- What’s really interesting, though, is that the nearly 80 traders interviewed on the Desire To Trade Podcast succeeded only that way (i.e. by risking less than 2% per trade and seeing trading as a cumulative activity).
- The truth is, what you do today might matter much more than you think in a few years. Either you’ll have cumulated your gains in what will be a huge trading account, or you’ll have quit trading and/or lost everything.
“I aim, first and foremost, to build my trading account in a proper way.”