Building Wealth with Forex Trading

 

Trading the EURUSD building capital for my trading business.

 By Tom



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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