I have been able to make money in the forex market. I tripled my money in a demo account in a month, and recently I turned $100 into $500 (in real money) in two weeks. Should I borrow money to trade forex?… I think that if I can keep my emotions out of the market I can make a lot of money.
Trading a demo account is nothing like the real thing. You yourself said so when you admitted you got emotional. Think about how emotional you will be when you’ve lost 50,000 of someone else’s money and still owe the payments but have nothing to show for it.
Now that’s a pretty bad scenario….
But chances are, even if you’re doing well, you will stay awake nights when you don’t want to close a position because you opened with too much of your account value and are quietly crying into your pillow “Just please go back up 4 pips!! Just 4! …ok 2! just 1 pip PLEASE!… OK, just go back to where you were when I started blabbering into my pillow!”
It will be stressful beyond what your demo account could ever sample for you.
If you can just double your money every month, (you said you had quintupled in 2 weeks, doubling in a month should be a snap!) starting with just the $500 you have in there now, you will have over $2 million dollars in 12 months.
And the best part is, you don’t need to borrow money when you’re a multi-millionaire.
The truth is you really just don’t need to take out loans or borrow money.
I know every one wants to be rich and make a million dollars right this minute, but if you can actually stay consistently profitable like you have been, then you can let the power of compound interest do it’s magic and this happens FAST.
If you are really committed you could sell some possessions, stop buying that daily coffee and put it into your trading.
If you can make only 6% per month every month and compound it on top of itself, then you will make 100% of your account every year.
I know that is not 500% like you are going in a week or so, but once you start building your account this soon starts building quickly overtime.
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