Building Wealth with Forex Trading
Trading the EURUSD building capital for my trading business.
The
following trades were done on a live trading account trading the EURUSD
currency pair during a time when this pair was confined in a down trending
channel. Trades were taken over a duration close to 5 months. 74 profitable
trading days delivered exponential growth starting with a low capital amount.
Yes, you will say there are more than 74 trading days in 5 months, and you are
right, but as traders we don’t trade every single trading day, we trade when
and where we like to live life on our terms.
A simple
price action strategy was used to enter trades (using trend lines and price
patters) on different time frames, trading in the direction of the trend as
high probability setup, and alternative trades was taken against trend
direction using retracement tools, this trading
style suited the trader’s trading personality. A simple money management
strategy to breakeven and secure profits as soon as the price moves into
positive territory, and to trail any positive price action with a trailing-stop
(trailing Stop-Loss). The goal 15+ pips per trading day going for R1 Million, (cut
losers short and let winners run). The trader traded a Rand ZAR based spread
betting account (R symbol).
Some
brokers cap your Bet Per Pip (BPP stake/volume) on certain instruments. In this
case, trading the EURUSD currency pair, the cap was at R100 max BPP. This means
that you are not allowed to Bet more than R100 per pip, the capital in your the
trading accounts should allow for the required margin. On this particular pair
the total capital in the account exceeded R450k after 58 trading days and the trader
was able to stake the maximum Bet Per Pip.
Keep in
mind that not every week or month offers these types of opportunities, but this
particular instrument was in a down trending channel and both buy and sell
trades were entered (buy near or at support, sell near or at resistance). Take
into account that al trades were done by a fulltime private trader well skilled
in online trading. However nothing is stopping you as part-time or full-time
trader to reach the same results.
Below is a table demonstrating the Capital, required margin, and BPP with pip total reach per trading day.
The power of compounding in trading allows you to exponentially grow any account. Setting targets and reaching targets change your mind-set and when you reach a target you don’t just stop there and are done, you refresh targets and go at it again.
There is no
other business in the world that offer this kind of return in this time frame.
It is worth the effort and time to master the skill of online trading and start
building wealth.
Happy
trading
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