Anyone can become a forex millionaire. That is if they can yield a consistent 7 percent return monthly, and compound the interest for ten years. Such a stellar result would equate to a 100 percent annualized return based on the math. In an age when a one year CD does not typically yield a 1 percent return, such a claim may seem far-fetched. Anyone who is familiar with the types of results which are possible trading forex can attest that such astronomical returns are indeed achievable.
Mr. Jordan Lindsey has been encouraging forex traders for years. He is well familiar with the possibilities of the forex market to change a person’s life once he or she learns the correct methodology. Trading is not gambling there is a science and an art to it. It is inadvisable that anyone dabbles in the forex market without first equipping themselves with the necessary knowledge.
Key to this knowledge base is the field of technical analysis. Technical analysis is the field which most traders depend on to predict future prices. Thus making it possible to execute informed trading decisions. Price charts and the patterns they present are the fundamental tools of this discipline. Chart patterns are dependable, which is what makes technical analysis worthwhile. Some examples of the statistical performance of these charts are as follows:
Ascending Triangle 73% reliable
Channel Up 72% reliable
Channel Down 74% reliable
Descending Triangle 71% reliable
Double Bottom 80% reliable
These are, but a few of the chart patterns commonly exploited in forex trading. None are 100 percent accurate. However, each pattern represents a situation where traders have an edge in predicting the future moves in the market. To achieve Jordan Lindsey’s 7 percent monthly return, traders must exploit reliable chart patterns which give them an edge.
A plan with positive expectancy is what you need to become a professional forex trader. Knowing chart patterns and their probabilities will give you the confidence to execute your trade plan and adhere to it. As Jordan Lindsey has said, ideas are not what makes people wealthy. It is execution and persistence. Profitable traders are traders who manage to adhere to their plans while keeping their dream alive.