How many times, you have heard this oft repeated statistic that more than 90% of new traders fail and give up trading in just a few months. Only a few lucky traders survive in the long run and make consistent winning trades.

But still millions of people everyday dream of becoming a successful trader. Everyday, they sit on their computers and try to make a living traidng currencies, stocks or futures. Do you want to join them?

The same statistic of failure exists in other businesses like restaurant business. New restaurants open on daily basis; some succeed, and most fail.

Still the theory of making it big never stops people from starting new business ventures. The same also applies to forex trading. Watch this weird 30 minutes Stock Trading Video just now. If you want to learn forex trading, watch this forex story on video!

Kathy Lien is a professional forex trader who has written many books on forex trading. In her book, “Millionaire Traders”, she interviews 12 ordinary but amazing people who were determined enough to succeed and make it big.

These 12 stories are amazing and should inspire you to emulate these ordinary but remarkable people. The rag to riches story of Hoosain Harneker is especially worth mentioning. He lost near all his saving in a failed business partnership.

He had no clue what to do. He asked one friend for advice who told him to learn forex trading. Now interestingly, his friend lived in another country and they were in contact with each other only on email. So his friend emailed him the forex trading system that he used daily to make a successful living from trading currencies. It was based on simple moving averages. Hoosain had one problem. After having lost all his money and savings in a lost business venture, he was not in a position to cough up even a few hundred dollars to open a forex trading account with a forex broker.

But Hoosain was determined. He worked hard for six months and eventaully saved $1000 to open a live trading account so that he could trade forex. But during those six months, he practiced and practiced the forex system on the demo account. Never underestimate the importance of trading the Forex Demo Account.

He promised his wife that he would never trade forex again if he blew up that $1000 . Interestingly, all the 12 people who have been interviewed in this book blew up their account in the first month of their live trading but not Hoosain.

Hoosain’s only advice to beginning forex traders: Practice on your demo account and double your amount three times in a row. Don’t take up live trading before that. Paper trading will make you confident to face the daily emotional turmoil of the forex trading.

Now, most of the new traders jump straight into live trading without practicing much on their demo accounts. After a few consecutive losses, they give up, considering forex trading to be difficult.

Just like any other skill in life learning forex trading requires a lot of determination and discipline. However, what these 12 ordinary people have shown you is that anyone with determination can make it big and beat Wall Street at its own game. They had the determination to succeed and this is what you will also have to show if you want to succeed. You too can be a millionaire like them.