What I’ve also discovered is that the forex markets trends last months or even years. So, my plan is as follows:

1) Start with $1,000 in my new forex trading account.

2) Use 1:10 leverage always to reduce a lot of risk.

3) Use a stop-loss of all my trading capital in every trade.

4) Keep the minimum take-profits as long as its more than what my commissions would be.

5) Just follow monthly chart trends, i.e. if the trends gone up for the past year on a yearly chart, and it shows it in a monthly chart that its going up as well, just follow the trend up along with it and keep on going up until I think its going to stop going up by taking advatage of lots of small take profits along the way.

6) Be aware of economic news and reports.

Example:

Say the GBP/USD is trading at £1.0000-$1.5000, and I place a bet to buy GBP/USD at this price at a 1:10 leverage, or $15,000 worth of pounds, (£’s) and I set a take-profit of, say, $15 or 10 pips and a stop-loss of my whole $1,000 and and keep on doing this, taking profits by trend trading and make this same $15/day for the 6 days the FX market is open a week, or $90/week x 52 weeks = $4,680 in 1 year + my original $1,000 = a 568% return for one year.

After I have achieved my 568% for 1 year, reinvest all capital and get another 568% compounded on top of that. So, it works as follows:

year 1) $1,000 up 568% = $5,680

year 2) $5,680 up 568% = $32,262.40

year 3) $32,262.40 up 568% = $183,250.43

year 4) $183,250.43 up 568% = $1,040,862.40 = USD millionaire

year 5) $1,040,862.40 up 568% = $5,912,098.74 = USD multimillionaire and GBP multimillionaire, or £3,829,025.15.

What do you say here like? Could this plan work do you think?