If I Only Trade 10 Pips A Day Can I Still Get Rich?

The foreign exchange market or forex, is the most volatile market in the world and boasts a massive $3 trillion being traded every day. In certain countries earning money from the forex market as a second income can be tax free.

The forex currencies shift 100's of point's everyday and taking a slice of this shift out of the middle of a trend is often the safest and most reliable way of making money. Professional traders around the world use this method of trading with the trend to make them rich.

When the forex market starts to trend in one direction it moves in waves it is the bursts of these waves that is the ideal time to enter a trade. As the currency pair makes a new high or low on the chart in the trended direction. The trend may only make a new high or low for 10-20 pips before it reverses back again. It is the ideal situation to in into the trade on the push and then out again before the short reversal. This has been proven to be the best way to take stress free profits from the forex market, dependent on how much you bet per pip will determine whether or not it will make you rich or not.

If you primarily set yourself up to trade a 10 pip trade but the trend looks strong you can always manipulate your stop loss to take further risk free profits. Once you have moved 10 -20 pips in profit move your stop loss up to your entry point and simply let the trade run moving the stop loss up every so often as to lock in profits and establish a larger stop loss.

Even if you only managed to get the 10 pips every day at 10 a pip that is a massive 2000 a month tax free. Trading this method often sees trends in the region of 30-100 pip moves. I will let you do the mathematics, but in answer to the title of this article I would say that trading this method can definitely make you rich