As someone who has never traded in the forex market before, the first day my trades went live was absolutely nerve-wracking.
I was going in blind with no clue what to expect.
Would I lose my $1,000 investment within a day or two?
Or would my investment actually reap the returns promised me?
After all, having sworn off the forex market, I was going against all my principles just opening an account. (I actually opened two accounts but more on that later)
Yet, throughout this initial two weeks of trusting a professional trader manage my account, I made a few personal discoveries about myself… and more importantly… I uncovered 3 valuable lessons about investing and trading…
Lessons I believe both useful and helpful if you ever decide to enter the market, whether through a trader as I did, or with a broker, or by doing it yourself.
But before I dive into that…
Let me start by sharing the 2 weeks day-to-day results of my trades.
07 Dec 2020: First Open Trade
The platform I’m on is unique as you select from 2 different traders.
First, you’ll need to sign a power of attorney to allow them to trade on your behalf and naturally, we’re hoping they achieve their monthly targeted ROI.
Given that they have different personal records and historical performance, you will want to make your own judgement call and decide on the trader more suited for your long term financial goals.
In my case, I opened two different accounts, each with $1,000 USD to “test” both of them equally.
Perhaps, it’s an occupational hazard, wherein marketing we’re always doing split testing… but at the same time, some might say this is a method to diversify the risk. Though it also means reducing the potential profits if any.
For simplicity sake, I’m just revealing the results of the trader who historically had a poorer performance. Mostly because I’m not too tech-savvy and isn’t that great at pulling out the results but at the same time… by showing you the poorer performance, I think it gives you a better idea of what to expect entering such a platform. (There’s an important learning point about this which I’ll touch on again)
Note: The screenshots are taken from MetaTrader 4 account, the balances shown are calculated using the daily starting balance with each day’s profit or loss. I also receive a daily email of the day’s trade results but the app is visually easier to read. Also, blue means profit and red, well… let’s just say we hope it doesn’t ever shows red.
The Results
Day 0: 6 December 2020, we’ve confirmed the initial deposit is in the account.
Day 1: 7 December 2020, a tragic start, already the account has suffered a loss of $1.67.
Day 2: 8 December 2020, and yet again, it’s the second day of defeat and we’ve just lost another $2.93 in the account.
Honestly, this was not the results I wanted, and it definitely was not a good start for any account.
Within 2 days, I had made consequently losses…
Sure, it’s only about $5 USD but it does start to make you wonder whether forex can be profitable.
Still, I had already gone to this point, the only thing left to do is give it a few more days…
The Results
Day 3: 9 December 2020, as though he was trying to prove himself, the account shot up positively by $7.88, we’re finally in the green.
Day 4: 10 December 2020, looks like the momentum is picking up, another big win with a $10.76 profit, the largest so far.
Day 5: 12 December 2020, a small win to end the week by still a good $5.14 gain.
There’s a reason why people say Forex is a volatile beast…
After the first couple days of losses, the last 3 days of my first-week flipped the results completely around.
And I closed the week with an $18.12 profit or about a 1.81% ROI… a rather phenomenal result for someone who doesn’t know any trading technique but will this result continue in the second week?
14 Dec 2020: The Second Week Going In
The Results
Day 6: 14 December 2020, yes, his streak is still intact even after the weekend as we close with another $7.71 profit.
Day 7: 15 December 2020, $9.67 again, the account is looking really sweet right now.
Day 8: 16 December 2020, and again an $8.36 by mid-week, I’m loving this winning momentum.
3 more days in and the account is shining real positive now.
The small losses on the first couple days seem almost negligible at this point…
Just 2 more days and I can’t wait to end the 2nd week with a bang.
The Results
Day 9: 17 December 2020, you know the saying about counting chickens, this was the biggest loss of the account, here’s hoping it never gets bigger than this.
Day 10: 18 December 2020, yet again, another loss to the account bringing the overall profit down.
After what felt like a never-ending momentous round of winning… it finally came to an end.
Now, let me start by saying that the account is still positive and by the 2nd week, this account was actually at a 2.3% ROI, but when you’re winning… it’s only natural to start feeling greedy and wanting more very quickly.
The end of the week losses was a good reminder of the reality of the market…
And after some reflection over the weekend, I would like to share 3 valuable lessons I think will help anyone new to the world of investing and trading.
My 3 Forex Lesson Takeaways
The first most important thing is to never monitor or focus on daily results.
In fact, if you’re on a platform that has a trader trading for you like what I’m doing… don’t even monitor it every day. Maybe take a look at the end of the week.
After all, not every day is a winning day… like everything in life, there will be ups and downs.
Which bring us to the second important point…
Wins and losses are common, what we want is for the overall wins to be greater than the overall losses.
If I had just focus on the day with the biggest win, I would be sorely disappointed on the other days, likewise if I had focused on the day with the biggest loss.
Ultimately the account is on track to achieving the projected 8-10% per month goal, and that’s why we should be reviewing it on a month-to-month basis rather than day-to-day trades.
Finally, the last lesson I picked up is…
If a seasoned trader also makes regular losses, any new trader should realistically expect to go through the same journey!
And the way I see it… I could either learn to become a full-time trader and hone my skills… or I should just leave it to the experts.
Don’t get me wrong… there’s nothing wrong with learning this particular skill set but as someone who has been in the internet marketing scene for almost 7 years now…
I have to admit that I’m not the best in the market, there are many media buyers who are better at traffic strategies than me.
In the same way, to reach this trader’s 2.3% ROI on the second week level of achievement, it will probably take many years of learning and improving my skills to reach that level.
And that’s something I don’t think I ever want to specialise in. (At least not at the moment)
Instead, I would rather focus on what I already know and leave the trading to the expert.
Perhaps, through learning I could get better than 10% per month result… but I don’t know when that is or if it would ever come to pass.
At this point… it is much simpler to rely on the traders on this platform and pay them their fees for the trades.
And that’s what I liked about this platform…
Because there’s a second component of earnings to this… a marketing component at that which if you’re like me… you just might like this unique advantage as well.
Would You Recommend a Forex System that Historically Achieves 8-14% ROI Per Month?
You see…
This platform is still relatively new in the market, with about 2 years of historical data from what I understand.
As a result, they’re still in the process of pushing out their marketing efforts.
And from the way I see it… their marketing strategy isn’t that great as they’re only relying on word-of-mouth. Especially since they’re a Malaysian team and that is the most common marketing approach there.
So, some would see this as a failing on their part, but I prefer to see it as an untapped opportunity.
Especially since the “product” in my opinion is fantastic! Already a 2% ROI is better than most financial instruments in Singapore yet we’re talking about 8-10% month on month ROI.
Granted that all forms of investment carry risk, whether that is Forex, Value Investing, Property Investing, Unit Trust and so on… why even bitcoin and leaving money in the bank has its own level of risk. (Banks around the world have gone bankrupt before)
However, as someone who doesn’t know trading strategies, having professional traders trade on my behalf and paying them their commission (or management fee) sounds like a logical choice.
I mean… I’m already paying my insurance agent a 1.5% management fee for a fund that is bringing in around 5-6% ROI a year.
Naturally, this platform has its risk, but an initial investment of $1,000 USD sounds like a reasonable amount to test the platform… after all, any investment will require some capital outlay.
With this in mind, together with my friend Gary, we’ve decided to form a special group of like-minded individuals interested in investment and other forms of income stream. Gary is still an employee while I’ve been in the entrepreneur and business building world for almost 8 years now.
One of the things we both agree is that when it comes to promoting such platforms, there will always be a certain level of scepticism and worry. It’s completely natural especially with the growing number of make money and investment courses around today.
That’s why we want to be upfront by sharing our actual results and helping those who would like to leverage on this same platform.
Sure, there is always a risk in any form of investment, and that’s also why we strongly encourage people in this group never to invest money they cannot afford to lose.
And while historical performance is never a guarantee of future performance, both Gary’s and my result so far has been rather phenomenal.
I personally don’t know of any other financial instrument that achieves similar results on a monthly basis…
Which is why I genuinely believe everyone should join this platform while they’re still accepting investors.
So, do let either of us know if you would like to find out more.
I’ve prepared a forex interest registration page where we will share more details about the platform, registration, plus answering any questions you may have.
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