Bruce Kovner was a NYC Taxi Cab Driver who didn’t have money to trade forex. So in 1977, he borrowed $3,000 on his credit card and started his journey trading forex and futures. He eventually made $11 Billion. I am not saying that we can do what Bruce Kovner did. But his example shows that you don’t need much capital in your trading account to make money trading forex.
Another thing that this example illustrates is the true potential of forex trading. Forex markets are huge and if you have the right methods, you can make big money in this market. Did I say the right methods? Well, there is something even more important than the right methods and strategies in trading.
It is your mind. If you can learn to control the emotions in your mind, you can control the markets. Yes, this is true. Master your trading mind and you are on your way to making big money as a trader. All great traders understood this simple thing. Money doesn’t matter. You will be told again and again, money makes money.
No! It is your mind that makes money. You don’t need a large sum of money to make money. What you need is the right psychology to make money. Take another example! Richard Dennis once upon a time was a small time trader. He started with only $300 and eventually ended up making $150M in a matter of few years. There are more examples of people doing it. You too can do it, if you can master the emotions in your mind. The enemy in trading lies within you! Tame it and you are going to make big money.