Can I make millions of dollars from this market?

Hello guys, most of the new traders always think about this thing that they will be able to make millions of dollars overnight and their life and lifestyle will be changed soon. The will live luxurious life with the help of forex trading, and they take it easy that everything is possible with only 1$ investment, but it is absolutely wrong.

There are hundred of thousand people on internet giving good thoughts about forex market and the lucrative advertisements and showing people with luxurious car, luxurious life and they are forex trader??? No, not all the forex traders making that much money, this market also have so much influence of market makers. It is a hidden truth that some brokers and big financial institutions vibrate the market and in result of that fluctuation, so many traders fall, just like fruits from trees.

Forex 52 weeks plan

Its seems to be very much good that traders are earning good money and they are running their houses on the basis of forex trading, but the fact is that, it will need a lot of time to do analysis of market. After proper analysis of market and understanding the chart patterns, the trader will be able to make some bucks from market, but it is another truth that when a trader is a newbie and he is trading in market with little information, then by luck, he makes good amount of money, I personally have seen so many people including myself, I also made a handsome amount of money from forex market when I was newbie and didn't even know about orders executions. (It is not an invitation to enter in market without experience).

Internet is full with this kind of plans and charts that a trader can earn millions of dollar with the help of only one dollar investment, but it is not true, almost all the brokers do not allow you to get profits more than your investment. Only a few brokers will give you that advantage, but the amount will be limited in that case. This is only a dream and nothing.

What is pip? What is its use in forex market?

Pips stands for "Point in Percentage". The point that indicate that you are in profits or you are in loss. These are points between buying and selling prices, usually we see that there is three points difference between buying and selling price. Even if you are changing your currency from any local exchanger then you will see that he will deduct the difference of conversion, that difference in points are called "PIPS".

When you are opening a mini lot, that is $0.01 lot, it is (10k units of currency) you are going to buy, against counter currency. Now, when the market goes in your favor, it will move into points, then you will earn or lose money, depends upon the market movement, but it doesn't means that market will continuously move against your trade, it may return back after a few minutes, few hours or after whole day.