Sunday, August 29th, 2010
Bruce Kovner was a NYC Taxi Cab Driver who didn’t have money to trade forex. So in 1977, he borrowed $3,000 on his credit card and started his journey trading forex and futures. He eventually made $11 Billion. I am not saying that we can do what Bruce Kovner did. But his example shows that you don’t need much capital in your trading account to make money trading forex .
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Another thing that this example illustrates is the true potential of forex trading. Forex markets are huge and if you have the right methods, you can make big money in this market. Did I say the right methods? Well, there is something even more important than the right methods and strategies in trading .
You don’t need a lot of money to trade forex. You can start with only a few hundred dollars and make that grow into a large sum over time. However, what you need is the right methods and the right forex trading strategies. This requires determination, effort and learning on your part. But one thing is clear money is not important in starting forex trading .
What is more important is your mind, your discipline and your determination in winning the forex trading game. Trading is all about discipline and right strategies. I give you another example of Richard Dennis, another trading legend. He started with only $300 and over the enxt few years ended up making $200+ Million trading commodities. What these examples show is that trading is a game of mental discipline. It is not a game of money. If you have a strong mental discipline, you will win and if you have a weak mental discipline, you will lose. It is as simple as that . Learn Commodity Trading!