Who Is Likely To Win World Cup 2022 How to Turn $1K Into $1M in 2010 Trading

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How to Turn $1K Into $1M in 2010 Trading

Many people consider trading to be very risky. No doubt it is. But for those who don’t know risk control in trading. You see, winning and losing is part of life. Whatever you do in life, you will face success and failure. Look at the soccer world cup, the winner last time rarely wins the next time. The same applies in trade. You have winning trades and you will have losing trades. What you need is a method that gives you more winners than losers.

You must have heard or read a lot about George Soros. George Soros is famous for breaking the Bank of England in the early 1990s, when he successfully speculated on the devaluation of the British pound and made $1 billion in a few days. But have you ever heard of Bruce Kovner? Bruce Kovner started trading the Forex and Futures market in 1977. He had no money. So he used his credit card to fund $3,000 into his trading account. Over the years, he became the richest man in the world. His net worth is now around $11 billion.

What this story shows is that you don’t need to have tens of thousands of dollars in your trading account to make a lot of money. What you need is the right approach and the right trading strategy that gives you more winners than losers. What do I mean by the right approach? What I mean is that you should give the utmost importance to risk and money management in your trading. Without proper risk control, you cannot make stable money.

Learning the art of long-term survival is the essence of trading. Don’t bet everything on one big trade. Learn to trade another day. Once you learn how to make more winners than losers, you’re on your way to growing your account. Suppose you learn how to grow your account every month by 50%. This means if you start 2010 with just $1000 in your trading account and grow it by 50% every month, by the end of 2010, you would have made something like $130,000. Do the math yourself. I just give you a suggestion. Use the composition formula you learned in your high school. He forgot it. Just google it and you will find it. This simply shows that your trading account actually grows with compounding. Each month, you simply make a consistent ROI and leave the rest to the power of the mix.

That’s not bad! Try making a 100% ROI every month and do the math. You will definitely make $1 million in 12 months with this ROI starting with just $1000. This brings us to the second part: the trading strategy that can give you a 100% ROI every month. So, combining good risk and money management with a good strategy can make you a millionaire trader in just one year.

This is exactly a Hoosain Harneker from South Africa! There was no money, not even $1000! So he continued to practice on his demo account while working to earn $1000. In a few months, he continuously doubled his demo account three times in a row. Now, he also had the money. He started direct trading and within a year he became a millionaire. You can do it too with the right approach and the right method in the forex market!

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