The answer to this question is, yes. However, the real question should be – Can I really start trading Forex with less than $100 and actually avoid the need to re-deposit? The answer to this question is also yes, but there’s a lot more that you’ll need to know in order to make that work. So, without further ado, let’s get started!
Are you ready for the big secret to succeeding in Forex? Net profits on 5 to 10 pips daily. That’s it? Yes, that’s it. There is no need for setting huge goals, just grab your 5-10 pips and you’ll get there. How do I do that, you ask? By using a reliable trading strategy. Or perhaps a few reliable strategies that can be used over and over again throughout the trading day. The goal will be to lock in some fast profits and then stop trading for the day. Get in, get profit, and get out.
Here’s the problem that most traders have, or should I say create. They try to earn a million dollars in a single day. While there is nothing wrong with having goals (all traders do), the more reliable path to becoming a millionaire from Forex trading is the slow and steady approach. Slow and steady requires self-discipline. Starting out with $100 or less is already going to be a challenge, so you will need to be disciplined and continually remind yourself that even small profit amounts will eventually add up to large profit amounts.
Each month, you’re going to be provided with approximately 20 days for Forex trading. That means there are around 220 days for trading each year. Now, do just a bit of math and you’ll quickly see how profits can add up and compound over that period of time. Even with starting out with just $100 in your FX account, it is possible to eventually be earning thousands each week. Do you know of many other businesses that allow you to start with just a few bucks and potentially become a millionaire within the span of 6 months to one year?
Is it really that simple? No, not exactly. There will be losing days now and again, and these will of course set you back a bit. On the flip side, there will also be days when you earn more than your goal. Those days will help you to recoup losses and will put you ahead of schedule if you have more good days than bad. Realistically, it should take about a year and a half to earn your first million from Forex trading. Even so, I believe that most people would say that they would happily wait that amount of time to earn a million.
The bottom line is that you can start with very little money and become a millionaire. Discipline, one or more solid strategies, and a willingness to be okay with cashing in on just a few pips a day will get you to where you want to be. Start now. Don’t wait even one more day. The sooner you start trading, the sooner you will become the next Forex success story.