Shortly before his inauguration, just over a year ago, then President-Elect Donald J. Trump declared to a reporter that the U.S. Dollar was too strong. Mr. Trump, who has a degree in Economics from the Wharton School of Business of the University of Pennsylvania, was not the least bit unsure of his assertion.
When Jordan Lindsey, founder of JCL Capital, advises that forex traders execute on their plans part of that fulfillment requires that we pay attention. When giants speak, their words echo causing waves on our price charts. That can result in swinging volatility, the likes of which can quickly blow out your account.
The question Mr. Lindsey asked is can you become a millionaire trading forex? The answer to that question is that you certainly can. However, as Jordan regularly advises you must have a good long-term plan and stick to it. Reason with the mindset of an investor, not a gambler.
No one knows the future with absolute certainty. That is why we study the market, listen to the news, watch YouTube videos, and read different bloggers. To trade your plan successfully, you should know when to move your money to safety and when to deploy it. Furthermore, you should understand prudent money management, and always practice it.
The internet has democratized the forex market. Thanks to the World Wide Web and retail forex trading platforms, anyone can become wealthy. As Jordan Lindsey says, remember to stay the course and pay attention. The wise forex trader would take heed of the utterances coming from Mr. Trump and other critical influencers of money and markets. Like it or not, we exist in an age where one tweet can wipe out or create hundreds, thousands, or even millions of dollars in your forex account.