Turn $10 into $1000 in a day by forex trading

liability

Private, 1st Class
Messages
62
Unless you are able to make a strong risk reward ratio in a single day, I cannot see that happening, to be frank.
 

Luke_D

Private, 1st Class
Messages
55
In my opinion, maybe it sounds quite pessimistically, it's impossible. The only way one can try it is scalping, however I don't think that it takes only a day. Maybe some professional tradesr from wall street can show others such focuses, but a common trader isn't able to make such amount of money in one day. Guess that it's something from the sphere of fiction, you know. If you're lucky man maybe you can try to do such thing, nobody prohibits you, but I think more that you can reach per day from this amount of money is 100-150$. If one can do that then he must be a very wealthy and lucky person.
Yea, scalping + higher lot size might work, but still this is too risky
 

TareqS

Sergeant
Messages
231
It would not be trading if someone turns his $10 to $1000 in a day. If someone promises you this, take my note, he never is a trader. Trading is a serious business. It is not gambling. If it is not dealt accordingly, it will hurt you badly.
 

Doomsinger

Recruit
Messages
37
Perhaps, it is possible heoretically but it is highly unlikely.
In this case you've got to take too huge risks in order to achieve this goal. It is very hard to make accurate predictions within such a short timeframe. Therefore you need to be lucky that day because otherwise you'll lose this money. Here the situation of all or nothing which is rather inappropriate for trading forex. I advise you to abandon such thoughts and start learning forex if you really want to connect your life with it. Trading is a hard thing to do because it requires lots of knowledge and skills along with the psychological stability and common sense. If you keep o thinking about such outrageous ideas as to make $1000 out of $10, you'll have too high expectations and they will affect your trading decisions.
 

Buzanara

Recruit
Messages
14
I think it's possible, however it requires bunch of patience, skills and experience as well. Indubitably, trading activity implies generating income and profits, however you should devote a solid amount of time to trading in case you wanna become successful an trun 10$ into a 1000$. It may take several months or even more, everything will depends on your strategy and its effectiveness.
I know for sure that traders sometimes can raise even more money, but in fact, they are tend to use high leverage, neglecting the golden rules of risk management. It's so sad and I am convinced that such traders will certainly face aftermaths of risk management neglection.
 

fxoday

Recruit
Messages
805
It is a very difficult task to make $10 into $1000 in just one-day trading, still, no true story about this too good to be true, using $10 the safe position size is usually 0.01 lot size, and first trades you must make a profit because if you lose the task to recover loss will harder.
 

Snappy Trader

Recruit
Messages
2
Its hard to increase your capital by tenfold in just one day. Sorry I just don't buy that... Markets are not predictable enough to make any kind of guarantee like that. :confused:
 
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