The amount we can earn is determined more by the amount of money we are risking rather than how good our strategy is. 1) Forex is not a get rick quick opportunityĬontrary to what you’ve read on many websites across the web, Forex trading is not going to take your $10,000 account and turn it into $1 million. These are the three things I wish I knew when I started trading Forex. The point of me telling this story is because I think many traders can relate to starting off in this market, not seeing the results that they expected and not understanding why. Three years of profitable trading later, it's been my pleasure to join the team at DailyFX and help people become successful or more successful traders. It played a huge role in my development to be the trader I am today. I spent the next couple of years working with traders around the world and continued to educate myself about the forex market. Luckily, I stopped trading at that point and was fortunate enough to land a job with a forex broker. It turns out that trading 300k lots on a $10,000 account is not very forgiving. I was dedicated and I committed myself to the plan 100%. My plan was to trade forex for a living and let my account compound until I was so well off, I wouldn't have to work again in my life. I spent months testing it and backtests showed how I could make $25,000-$35,000 a year off of a $10,000 account. I had been taught the 'perfect' strategy. I started out aspiring to be a full-time, self-sufficient forex trader.