How to double your money in forex trading?
How to double your money? A resounding question, enduring desire and difficult task for many of the people. But to think about, Is it greed? Absolutely not. Work for you and earning money for you is a smart work according to many investors. And a chance for those who would not do it?
In forex trading, multiplying your money is apparently probable rather than any other way. In modern-day credit goes to all the traders of forex for providing 1:500 leverage that is called a minimum investment required.
Here are various risk-free methods for doubling your money. We must care you, however, that these are only the approaches that have been successful in the past. There are no guarantees, but there is a significant likelihood that history will repeat itself. Your future is therefore in your hands.
The easiest way to double your money
To double up your money is not a day dreaming but you have to wait until or unless you see your money double. But you don’t need to follow charts and signs to learn complex techniques.
Open a savings account with a greater interest rate in that currency. Your money will be doubled in worth in a few years as a result of compound interest and the steady pace of interest collection.
Rule of 72
It is a rule of 72 which will help you to determine the years required to double up your money.
Divide the expected annual rate of return with the value of 72. Resultantly, the number of years is required to double up your money.
The risky part here is that usually the higher interest rate currencies have high rate of inflation rate. So, it may cause decrees in the value of your currency as well.
However, if you select a major currency with the definite interest rate, you are sure to succeed.
The savings account method will not be a reasonable decision, however, if you are a US citizen. Since the US dollar gradually gains value against your currency, it reduces the increase in interest rates.
On the other hand, it will be a wise choice to open an account in the States if you are a non-citizen. In this way, you can have double money. In US the interest rates are close to zero and are shown to skew north in the coming years. Also, in tough times the value of US dollar is high and usually appreciative in the due course.
The In addition, opening a saving account in the US has become boring, it is undoubtedly worth the effort.