Forex experience

What is Forex? It’s the currency trading. In the first article, at the bottom of this page, you can find the connection where is possible to know more about our topic. It’s available a demonstration account too, so you can do free practice and figure out if you like it or not. If you have fun, maybe you will decide to continue but, if you don’t enjoy, it’s better for you to give up and find something different for your time off. Forex is one of the many ways to make money online but, remember one thing, not everyone earn.

I opened a real account on the day of presidential elections in the United States held on November 8, 2016. Before that I tried several different Forex platforms and I decided to make money by using one called eToro. I didn’t regret and I recommend you their site. Why am I right on that day decided to enter in the world of high finance? I heard from some friends and checked on the internet that a lot of people gained huge amounts of money during Brexit. The pound fell over 10% and to those who have had that vision, this fact brought amazing profits. Note that in currency trading you can use the leverage. So, if for example you are using leverage of 50 times, the 10% becomes 500%; you invest a thousand dollars and earn 5000. So I thought that if Trump wins the elections I could make good profits.

So, I opened the account by depositing 500 dollars. After midnight, when the outcome of the presidential election was not known yet, I bought the currency pair euro-dollar. My investment should enhance and my plan was to make some money by buying cheap and selling expensive. On the Forex platforms you can set two limits: one is where you take profits and other where you close your position to limit your losses. I was too greedy and laid taking profits on 5%. Once the world understood who was the new president of the United States, the dollar has become weaker (as I had predicted). But after lost 3% of the value it became stronger. That day I was out of town and I had no access to internet. My limit for taking the profit hasn’t been reached and I couldn’t manually close the position and taking a little less profit. When I returned home late in the evening and logged my platform, the price was already lower than my purchase. This is until today my only loss.

It’s the beginning of the March and in the four months I earned 300 dollars, about 60% of the initial amount I’ve invested. I was able to catch up my first lost by the end of the same month. So far I have processed more than 90 operations and except one, all were positively completed. I have already reached a good experience and developed my own strategy which it has proved successful. At least until now. Here are some of the key elements in my approach. In the beginning I used the lever 10 but after more experience and considerations now I use 25. This is a good proportion of earnings and assessing risks. If I open the position and things go in a negative direction, I have 4% margin (loss of the entire wager) in order to wait that prices return to positive reach. I always put my loss limit very far to be able to afford myself to wait even a month before I back to the desired interval. Since I often trade on a long period I usually choose operations with positive rollover. When a position is transferred to another day, Forex applies to it some kind of fee. For example, for a pair EURUSD, if you buy the pair you pay 60 cents for the amount of 10.000 dollars, and if you sell they pay you 3 cents. Usually, I sell and don’t have to think that for every day of waiting for the realization I have to pay a fee. The amount I earn isn’t significant but the important thing is that I don’t have additional costs.

I chose eToro not only because it’s an excellent service, but also because they have a social network. While you trade people send messages, comment and click like button. Of course, the topic is always trading currencies. There are members who have a great experience and this can be useful if you want to learn from them. Often the messages are entertaining because they are very funny. Most users keep their profile public so it’s possible to look at their stats and see how they trade. Statistics are partial and client’s privacy is however preserved. There are percentages but not the amount of money invested in trading.

Different people trade, even girls and if you don’t understand a language on the web site (there are Russians, Arabs, Germans, and other that write in their mother language) there is an automatic translator. As I told you before it can be very funny. Once I’ve read a message from a guy who gave me the impression to be so smart until I watched his statistics and find all in red (gains are represented in green). From my personal experience: more the post appears intellectual and more the author is ignorant.

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Forexing

Nowadays it seems that the only purpose of life is to find a way to make some money. Yes, it is true, there is a global economic crisis and a certain segment of the population feels it very much and has seriously need of liquidity for survival, because you have to eat and pay the bills. But here I’m thinking of those other people who don’t have existential difficulties. Those who simply want something more of the life, a more fancy dress, an amazing sport car of their dreams or take an exotic trip. Here we are talking about things that don’t represent necessarily happiness but have become a symbol to which we tend, often imposed by advertisements that surround us and push us to shop. Obviously, producers and advertising push us to buy products that are more profitable for them.

For years, this dream to become rich, or at least wealthy, is further stimulated by the presence of the Internet. There are many stories about people who have been enriched thanks to the network. Often in our inboxes are a flood of e-mails that are offering us easy gains, for example, a 883 euros per week for a commitment of 3-4 hours per day. Tempting but no realistic (even if someone has gained). It turns out that you have to invest some money to buy an electronic book or to sign up to some virtual register. There are other ways to play online in the casinos or invest in stock market from home. We are not talking about new methods to earn (or lose, because these activities are risky). The only advantage is that you are earning by sitting on your couch. From a social perspective, I see it more as a disadvantage: you can’t meet new people even if Internet offers you the possibility to have chat with other users while pressing a button of a slot, or buying gold in online stock market.

Recently, I have become aware of one guy that has earned well online. A colleague from the office who has created a site that explains forex to beginners, providing basic information about what it is, how it trades, etc. For someone who maybe has not heard about this topic, forex is the online stock market where you buy and sell currencies, but also the goods (such as gold, silver and oil), hoping that the price will go in the right direction, to be able to repurchase or resell the good profitably. The slogan is the usual one: buy for a small price and resell for a higher one. He has banners that link to the sponsors, those who actually provide the service to the forex customer. When a visitor clicks on banner and after opening account he starts trading. The webmaster takes a percentage for each operation on the spread of the broker. He is always earning, it doesn’t matter if the customer has had a profit or a loss.

One night, after work (and our second beer), he confessed me everything about his new business. My colleague is a gentleman, always well dressed, but nothing especially apparent, who often travels. We working together since many years and even our wives have a similar job to each other. According to this, we should have similar revenues, but I can’t afford to myself things he can. So I asked him how could he have such a high lifestyle (from the financial point of view). He told me his story, the one I have already referred. I had in mind an income from properties, or stuffs like that. At the beginning I was confused, so I start asking questions. At the end, he told me that his incomes, thanks to forex, were like two months of his job in the office. I was really in disbelief, so I asked him the reason why he was driving an old car, a Ford Fiesta, bought fifteen years ago. The answer was to stay away from the eyes of those who investigate the tax payment. I must admit, that does make sense.

I asked him if I could get in the business and he generously accepted to explain me everything. You must have a domain, create a website and then advertise it, to get visitors from the search engines; those are great because they seek what you offer and are ready to spend. For a moment, I thought about it. Too complicated, I told to myself. Here it is, I had a proof that some things are real. Personally, I had no desire but especially I had not enough courage to take a risk.