Seldom do the things worth having in life come without sacrifice. Achieving our dreams can be painful. The journey is often hard and frustrating. As Jordan Lindsey, founder of JCL Capital, says you must focus on the long-term and not the noise. There will be good days and not so good days in your journey to the top. That is the truth of what a forex trader can expect.
Jordan’s premise that a 7 percent monthly return compounded over the course of 10 years can turn a $1,000 account into a million dollar account is correct. However, to achieve such stellar performance requires experience and good instincts. The knowledge you can acquire by studying, but experience comes with time.
Most traders enter the forex market with the intention of hitting a grand slam home run. Jordan Lindsey advocates that you approach forex trading with patience and a solid plan. Lots of base hits would be the analogy that best applies to be consistent with my home run reference. Keep in mind that home run hitters often strike out.
When Jordan Lindsey says that traders must commit and stay the course, he is aware that the reason why many forex traders fail is that they are swinging for the fences with small accounts. Trying for 100 percent returns in a month instead of in a year. The former will risk ruin. The latter is at least doable.
Turning a $500 account into $1,000 over 12 months is the steady type growth a retail forex trader should be pursuing. Jordan Lindsey suggests that repeating the same strategies which can produce that result would cause the forex market to release more than $1,000,000 to your $1,000 account over ten years. Without you ever depositing another penny. That is not magic it is arithmetic.
The same is true if you are starting out with $100 or $100,000. The objective should be to double your account once every 12 months. That equates roughly to a 7 percent return each month. In other words, small victories add up to significant gains. There may be setbacks, but there will also be breakthroughs to balance things out. So, keep a positive mindset, continue trading your plan, and as Jordan Lindsey advises “Think Big.”