Check out these case studies of individuals who have mastered forex online trading. Not only did they know what they were doing, they also had the “guts” to pull it off!

Turning $1K Into $1M Trading in 2010!

What is the best method to grow your wealth? Some would say invest in stocks. Others would say invest in real estate. Someone else might suggest start a business.

I would say learn trading. If you can learn this one skill, you will never need a job in your life.

Today, electronic trading is the name of the game. You only need a computer and a good internet connection to start trading from the comfort of your kitchen table. It is as simple as that.

How much capital do you need to start trading? .

You must have heard or read a lot about George Soros. George Soros is famous for breaking the Bank of England in the early 1990s when he successful speculated on the devaluation of the British Pound and made a nice $1 Billion in a few days.

But have you ever heard about Bruce Kovner? Bruce Kovner started trading the forex and the futures market in 1977. He did not have money. So, he used his credit card to fund $3,000 into his trading account. Over the years, he became of the richest man in the world. His net worth is around $11 Billion now .

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But what this story shows is that you don’t need a large capital to start trading.

Another trading legend Richard Dennis, started with only $400 and ended up making $200 million over the next few years trading commodities. What this shows is that you don’t need more than a few hundred dollars to start your trading career. What you need is only the right skills .

Learning the art of long term survival is the essence of trading. Don’t bet everything on one single big trade. Learn to trade another day. Once you learn how to make more winners than losers, you are on your way to growing your account.

Suppose you learn how to grow your account every month by 50%. This means if you start the year 2010 with just $1,000 in your trading account and grow it by 50% every month,by the end of 2010 you would have made something like $130,000.

Do the math yourself. I’ll give you one hint. Use the compounding formula that you learned in high school. Forgotten it? Just Google it and you will find it. This just means that your trading account actually grows with compounding. Every month,you just make a steady ROI and leave the rest to the power of compounding .

This is not bad! Try making an ROI of 100% each month and do the math. You will definitely make $1M in 12 months with this ROI starting with only $1,000.

This brings us to the second part: trading strategy that can give you a 100% ROI each month. So combining good risk and money management with a good strategy can make you into a millionaire trader in just one year .

This is exactly what Hoosain Harneker from South Africa did! He had no money, not even $1,000! So he kept on practicing on his demo account while working to make $1,000. In a few months, he consistently doubled his demo account three times in a row.

Now, he had the money too. He started trading live and became a millionaire in one year. You too can do it with the right approach and the right method in the forex market!

Although the average guy or gal will probably never reach this level of earnings, forex online trading remains an exciting and profitable business!