Building Momentum as a Forex Trader

Instant Momentum as a Forex Trader

Posted January 14th, 2012 by Rapid Forex 16 Comments »

There is to be a temptation among people learning forex trading to want to feel like they understand trading before they start trading. This isn’t the best way to learn to trade.

Learn Trading by Doing

The FEAR that most people have is that when they begin trading, they don’t want to lose money. Nobody wants to lose money, we become forex traders so we can make money.

If you haven’t traded any real money yet, it seems logical to want to have a winning system in place before putting real money on the line…this is why demo trading (trading in a practice account with pretend money) is typically advocated.

The PROBLEM with Demo Trading

Demo trading is a good thing to do. It does have a major disadvantage. People tend to get bored with demo accounts. We know it’s pretend money, so we don’t take our trading seriously.

I recommend that you open a tiny trading account with REAL money. You can open an account with as little as $50. I recommend opening an account with at least $100.

Allow this account to be your “learning” account.

Although your goal will be to make money from the account, consider this first account as part of your forex trading education. Give yourself permission to trade this account even down to ZERO in order to learn forex trading.

Making Forex Trading REAL

Approximately $4 TRILLION is traded every day on the forex market. This is ALOT of money, and a huge opportunity for you to live a fantastic life & to do the kinds of things you want to do in life.

I’m recommending you start trading with real money for an important psychological reason:

If you trade with REAL money, forex trading is REAL for you.

When you start making trades that earn you $1.73, $2.11 or even $0.12 something magical will start to happen. You’ll start seeing FOREX as a REAL way to make money for you.

When you see your $100 account grow to $110, you may choose to throw in another $20. Then that $130 account will grow to $150. Then you may toss in another $50. As you see the small account grow, you’ll naturally want to invest a little more in it at a time.

Since your account is already setup, it’s easy to invest another $10, $20, $50, or more because you can simply add it to your account. If you don’t have a live forex trading account setup, you’ll tend to procrastinate.

Expanding Confidence

You’ll learn lessons along the way. You’ll lose money at times. Even though you don’t want to lose money (nobody want to), you’ll also learn VALUABLE lessons from the money you lose.

Whether you take a profit or a loss from a trade, the fact that it’s REAL MONEY will spark an interest in you that simply isn’t there with a demo account.

The SOONER you can overcome fear that you’re going to lose money, the CLOSER you are to becoming a PROFITABLE forex trader. The longer you wait to open a REAL account, the longer you’re postponing your success.

Think about this honestly for a moment…“How many things have you spent $100 or more on that were pure WASTES of the money…money that you spent that doesn’t have any OPPORTUNITY of earning you an income”

After you answer that question honestly…ask yourself this question “How much is it worth to INVEST in learning this VALUABLE skill that will benefit me for life?”

By making a decision to open a real forex account and start trading NOW, you’re on the true path to opening up a tremendous new REAL opportunity for yourself.

Many times I wished I started trading earlier than I did. I’m GLAD that I trade NOW Make this commitment to START NOW and I’ll continue to show you the next step!

Tags: demo trading, forex trading, momentum, real trading, success Posted in Forex Trading Mindset

16 Responses to “Instant Momentum as a Forex Trader”

Michael Says:
January 14th, 2012 at 4:38 pm
Funny, you have pounded with emails for a few years now. I even bought your book when it was out. I had to close my account because i had lost a lit of money and had more distractions (children) since. What can i do to start again? Who has $50 mini accounts?

[Reply]
Rapid Forex Reply:
January 14th, 2012 at 10:13 pm
@Michael – You can open a nano account with fxcm (forexmicrolot.com) for $50, I also believe Oanda offers a similar deal. We’ve all had distractions over the years, my main goal is to get everyone trading this year. It’s a great time to start

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Michael Reply:
January 16th, 2012 at 12:13 pm
Great, is the information in “Supreme Trader” v2.0 still good to start off with?

[Reply]
Rapid Forex Reply:
January 16th, 2012 at 6:16 pm
@Michael – The best way to get started can be found in this blog post. I’ve put over 4,000 hours into developing it since the Supreme Trader post that you read. You can still trade using those methods, but there is a faster, easier & better way to begin
Joe Says:
January 14th, 2012 at 9:47 pm
Yes, it’s a wonderful idea.
Thanks, Brian

[Reply]
regit Says:
January 14th, 2012 at 10:02 pm
Sorry, but I don’t see the connection between the title “Instant Mpomentum as a Forex Trader” and the content of the post.

[Reply]
Rapid Forex Reply:
January 14th, 2012 at 10:10 pm
@Regit – The first step towards becoming a real trader is opening a real account. Of course there are other steps, but with a real account you’ve got some momentum.

[Reply]
Sam Says:
January 15th, 2012 at 1:37 am
Hi,

Very good advice. I started with a practice account
and soon found myself not practicing at all, because
I had no invested interest. I suppose people are
different, but to me, I had to open a real forex
account and place some real money in it to learn. I
didn’t have a clue about forex, and I did my research
and choose oanda, because they accepted paypal and at
that time I could fund my account with as little as $1.

I can’t remember how much that first deposit was, but
after a few months, I lost that and had to add more.
In total my forex education cost me around $500, but
since I learned about Money Management, and risk vs.
reward, and how to stay out of the gambling mentality
I have been making profits ever since.

I moved from having a practice account with next to 0
interest, to a live forex trading account with a invested
interest and I was trading and learning every day.
For me that was a Huge amount of momentum forward, and
I’m glad I took it. I know that if I had of found
rapidforex sooner, my education would have cost me much
less. Thanks for doing what you do

[Reply]
Rapid Forex Reply:
January 15th, 2012 at 3:50 pm
@Sam – Thank you for telling your story. There’s no education like real trading…I’m glad you figured it out

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Samson Says:
January 15th, 2012 at 2:45 am
Hi, over the months, I have tried many other approach to trading, but I keep refering back to your forex sailing approach to forex trading. It seems I have to finally settle with that approach coz I had the best understanding, simplicity and good results while trading forex the RF sailing way, I doubt if there are better approch to trading than this. Keep up the good work Man.

[Reply]
Rapid Forex Reply:
January 15th, 2012 at 3:48 pm
@Samson – Thank you for your comments. You should try portfolio hedging

[Reply]
Gee Says:
January 15th, 2012 at 6:54 am
Brian – good day! I may be in Hawaii for Spring Break can we meet so can have some face-to-face tutoring, mentoring or just to pick your brain?

Thanks and kind regards.

[Reply]
Rapid Forex Reply:
January 15th, 2012 at 3:47 pm
@Gee – If you end up on Maui please let me know when & where you are coming. It would be very cool to meet you

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Jesus Says:
January 16th, 2012 at 5:43 am
Brian, I have been asking to myself why experienced trader like you are, don’t talk about binary options (like anyoption, optionbit, etc.). Please, could you give us your opinion about this trading or if you had trade binary option or do you recommend to stay only in forex instead of binary option, or even do you have a method to trade them? Thanks in advanced and Regards,

[Reply]
Rapid Forex Reply:
January 16th, 2012 at 11:09 am
@Jesus – Trading options is a good thing. I have been exclusively focused on regular forex trading, but am considering adapting the HR to options as well. Options are more complicated & the forex already offers incredible leverage. I don’t know of a strategy that works for binary options, but will look into this further & let you know what I discover

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sherley Says:
January 26th, 2012 at 5:59 pm
Hi Brian,
Thanks for the advice. When i opened my account, it takes only a month for me to start jump from demo acc to real acc just to know their platform work. Coz i don’t feel real learning from demo acc, the emotions just not there. When you trading, it’s not just involve your brain, but the emotion such as greed and fear really control your decision in trading. With real acc, I learn many thing, up and down both financially and mentally.
Reading EXPANDING CONFIDENCE makes me back and stand up on my feet again. Trading is similar to life, sometimes you fall but you have to get back up again. And one important thing, nobody want to be a loser. So i gonna get out and win more cash.

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