How fast is it possible to become a millionaire by trading spot forex?

I want to know in your opinion what your thoughts are on my question here as to wether or not it is possible to break £1 million very rapidly and how long it would take starting with a few hundred pounds trading spot forex? Also, are there any recorded cases of anybody ever doing such a thing? Best answer earns 5 stars. Thanks.

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This entry was posted on Saturday, January 23rd, 2010 at 8:45 pm and is filed under forex trading tools. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

4 Responses to “How fast is it possible to become a millionaire by trading spot forex?”

Investmentguru January 23rd, 2010 at 9:39 pm

Can you become a millionaire by trading Forex overnight—hell no.There are many traders who through time, patience and education learned to make consistent profit in the forex market and became millionaires. However Forex trading is just like trading in the stock market. Some hit gold others barely make it, and yet others lose everything.
http://www.howtotradeforeigncurrency.com/frequently-asked-questions-about-forex-trading.php

muncie birder January 23rd, 2010 at 10:38 pm

Starting with just a few hundred quid, you will most likely loose it all rather than turn it into a million. Time tends to work against you. In other words the longer you trade, the greater the probability of running into a buzz saw somewhere along the way.

Albert January 23rd, 2010 at 11:22 pm

There is no doubt you can make money trading forex. To Break the 1M fast you need a lot of money.
Trade forex is all about know where the long term trend is heading and have enough money in you account to sustain the wave.
If you have a small account, and small stop loss you will not survive.

1. You need to have a trading system that teaches you the basic of trend identification.
I would recommend the CM5 system from http://currencymeter.com. It is simple and straight forward. I am using it.

2. You need to trade with an Indicator that will send the trade signal to you email and can also take trade for you automatically.
I would recommend the TRADE TELLER from http://tinypipfx.com

3. You need to take some sometime to study the market. Take your time and don’t be in a rush. Understand the system well and you will see the power of making money in forex, If you need a trading buddy, you can contact me and can be your trading buddy.

markie January 24th, 2010 at 12:21 am

hi,
i have earned tons of money from forex trading but it didnt happened to over night .i also saw people who became millinrs in short time but u need to work hard in the starting.here some good trading platforms that most serious forex traders use
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http://bestforextradingplatforms.com
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good luck

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