Becoming a successful Forex trader is not as complicated as most traders think it is, the most problems comes from us as traders and not from the market. You see the market is designed to mess with our psyche due to the fact that we are emotional creatures by nature. Yes our emotions! The 5% successful traders are more psychologically balanced than the 95% losers. Some traders keep blaming lack of enough liquidity for there trading demise but i do not believe this has anything to do with being a successful trader.
If you can not manage and be profitable with a $100 account then surely you can not do any wonders with a thousand or million dollar account. Trading little and large investment takes the same process to achieve success, there is no shortcut or magic involved. In fact this is a major reason why some brokers offer cent or low minimum deposit accounts. The main reason for this is to test-run your trading system with a small capital and analyse its performance.
Some brokers even go far as to provide Non-deposit bonus programs just to provide trading opportunities for traders without risking their had earned funds in the market. The mistake some traders make is that they want to start big due to greed without even trying out their trading system with a small capital. Once you can master your strategy and make consistent profit month over month with a little trading capital, then you are certified and guaranteed to be successful with any large investment that comes your way.
Some traders even go as far as arranging funds from different sources like family and friends, just to raise enough capital to trade the Forex market, thinking this will add an edge for them in being profitable. At the end, it still balls down to failure because he who fails to be profitable with little funds can never be profitable with large funds. So please fellow traders, change your mindset about starting big. Start with a small but reasonable investment and grow your funds till you are fully convinced you are a pro!
I remembered i had a friend back in our early days of trading whom i advised to start small but due to over-confidence, he started big and lost 90% of his trading capital before he realized Forex trading is a skill and not a gamble like poker. Anyways the fact is Forex trading is not meant for everybody.
In conclusion try to learn from others mistakes, who started big due to pride and was later humbled by the market. Experience is the best teacher which is good to learn from but please make sure you learn from a positive experience and not a negative one.