admin answers:

Hi there, glad to hear that you are able to make 10% compounded return on weekly basis. You never try the real thing, you will never know whether it work. Just do it.

I am keen to learn from you how you could make 10% everyday. If you could just share your trading method . How many hours you commit to trading, what time of the day, how big is your risk appetite , what is your profit range per trade in pip.

I know Dr Lim Ming Soon did turn USD2000 into USD1million in 18 months.

You must have at least 3 months of demo account trading before going actual trading. Dr Lim suggest doing it for 2 years to understand market move and your self on trading.

My greatest achievement is turning my losing trade into 100% profit within 6 months. Doing it part time 9pm -11pm tuesday to thursday but my risk level can be as high as 80%. About 25% per trade.

admin answers:

Like everyone else has said you need to take your time when deciding to trade the Forex market. That being said, if you are willing to learn how to trade it properly and are patient you can make money even with a small ($5000) account.

You will need to set strict money management rules, that is how much to place on each trade, how much you are willing to lose on each trade and how much profit you are happy to take on each trade.

Greed can do funny things and a winning trade can end up a loosing trade.

Follow these 10 steps

1. Get access to and read as much free information as possible

2. Download free Forex Charts

3. Take some Forex courses

4. Test and trial a couple of different forex strategies to determine which is best for your personality. Don’t rush this stage as you will really get to know yourself, how you react to loss, greed, fear and you will come to an understanding of how much time you really want to commit to your trading.

5. Open a demo account with an online forex broker, and start with a conservative amount in your account between $5000 and $10,000.

6. Simulator trade for between about 3 months

7. Open a Mini-Forex Account and fund with a conservative amount of money, between $300 – $2000.

8. Build your confidence by taking small amounts from the market consistently.

9. Throughout this whole process develop a trading plan that will consist of
a. What size your real trading account will be
b. How much you will trade each time
c. What timeframes you will trade
d. How much you will risk each trade

10. Trading for Real – Start trading a real account and continue to monitor and track your progress, recognising that you are a continual learner.

You can learn more from the free course at http://www.my-forex-training.com/FreeCourseSignUp.html