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How to Make Ten Times Your Money By DayTrading
Want to make 10 times you capital by daytrading?
It’s much easier than you think.
You don’t have to lever your account 100:1.
You don’t have to time the euro perfectly.
You don’t need the luck of the Powerball winner.
You just need to learn how to grind it out and take a long term view.
Let’s do the math first.
If you have $10,000 of speculative capital it will take you approximately 5 years to grow that account to $100,000 if you can consistently make 4% month or 20 pips per day.
Now I am not going to lie to to you and tell you that it is easy.
But it’s definitely doable.
For the past year I’ve been doing about half that grinding out about 200 pips per month in 2015. So I am not quite there myself, but many, many traders in my room are doing much better than me. Some are up as much 20% year to date and we are only at the 15th day of 2016.
But here is the thing. No one my room who is successful trades more that 2 to 3 times leverage. No one risks more than 2% maximum on any given trade ( I keep it to 1% myself).
But everyone is really hitting out of the ballpark this year.
Well, we do have a great strategy but also day trading provides its own leverage. By flipping our account 5-7 times a day we are actually achieving 10-15 lever factor without ever assuming such monumental risk.
Most traders are always dreaming about “making it big” and the internet is replete of “if-you-just-bought-here-and-sold-there you too would be a millionaire!” examples. But in real life wealth is build 20 pips per day and daytrading,when done right, is actually one of the best ways of achieving that goal.