Millionaire Traders By Kathy Lien And Boris Schlossberg!

How many times, have you heard this that more than 90% of all traders fail? Yet, millions of people wake up everyday, turn on their computers and try to make a living from trading forex, stocks, futures, commodities, ETFs and other financial markets electronically. Failure is a part of life. What makes you ignore the possibility of failure is the ambition of hitting it big. So you keep on trying until you succeed. This is also known as determination. To succeed in the solitary endeavor of trading, you need a lot of determination plus luck!

Trading is a solitary endeavor in the sense that you have to believe in yourself and your gut feelings in facing the market that are often ruthless and unforgiving. You can only rely on the discipline of your trading mind while trying to beat the markets! Well, the success stories of these 12 ordinary people should inspire you. These 12 people hit it big trading for themselves. These are no hedge fund managers or employees of big money center banks. These are ordinary people who started with as little as $1,000 and turned this small amount into a six to seven figure fortunes.

Meet Kathy Lien and Boris Schlossberg’s  Millionaire Traders: How Everyday People Are Beating Wall Street at Its Own Game ! Kathy and Boris tell the stories of 12 ordinary people in the form of interviews. These 12 people who come from all walks of life and trade all sorts of financial instruments like equities, futures and forex, each with a very different style of trading blew up their trading accounts at least once. However, instead of giving up and walking away from the markets, they learned from their mistakes and used that experience to improve and ultimately succeed.

Triple Your Demo Twice Before Trading For Real

Hoosain Harnekar from South Africa lost all his capital in a business venture.  He had no clue what to do to recover his loss. One of his friends suggested forex trading. His friend emailed him a simple forex trading system based on moving averages. But he had no money to trade forex. So he practiced that forex trading system on his demo account. Meanwhile he worked to save $1,000 so that he could open a forex account.  He took six months to save $1,000.  He promised his wife to never trade forex if he blew these $1,000. Today, he is a millionaire trader.  The secret of his success: Practice on his demo account! Hoosain’s advice to you,” First triple your demo account two times in a row before trading live.”

This practical insight from Hoosain Harnekar is perhaps the best advice from any of the super star traders among the 12.  Learning a professional skill in life is always difficult and requires a lot of patience, practice and effort. Now, practice does not always guarantee success, but lack of practice almost always ensures failure.  In forex trading, brokers allow you to demo trade on their trading platform with virtual money instead of real money.  In other financial markets, you will be provided with a lot of software tools to paper trade in a realistic environment.

For example, in one of the interviews, Paul Willette who was already a successful equity trader, spent three months paper trading his account when he decided to switch over to stock index futures trading. But what Hoosain wants you is to achieve substantial success on your demo account before you move to your live account. By mandating that you triple your demo account twice in a row, Hoosain wants you to have a discernable edge that should serve you well in the real market. You must take this advice seriously. It will bring long term success!

You will find many more valuable lessons in these 12 interviews when these individual traders talk about their trading experiences, how they started, their early failures, what kept them going, their ah-ha moments when they hit real big, how they would use stops in their trading, how they would protect their capital and themselves and much more. These 12 stories of Millionaire Traders: How Everyday People Are Beating Wall Street at Its Own Game is sure going to inspire you and make you realize; you don’t need large capital in your trading account, you only need determination to succeed big!