MY TRADING RESULTS [2023 & 2024]
Updated: Profits for 2024 at the bottom of this article
This is my trading results for last year and beginning of this year. A friend introduced me to forex trading with a strategy I can use to milk the forex market. [The screenshot] These are not huge profits, but these small wins are helping me to grow my deposit gradually. It's works for me but I don't know if it will work for you. You just have to try. I hope you will find some value as you continue to read.
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| My results for 2023 trading |
Why You should trade forex, Crypto-currencies and Stocks
These are legitimate forms of making genuine money from the comfort of your home without buying or selling anything to anybody. You are in total control of everything you do and every percentage you make belongs to you. Before you proceed, please note that trading is not for everyone and there are risks involved.
I see so many people struggling, trying hard to sell or promote all kinds of things to people who don't even need them. They get disappointed and move on to the next thing that equally doesn't work, and they are like "Oh God, when I'm I going to get this money!!!".
The thing is, you are taking wrong advice and following anything you see being promoted online, if it’s related to money. You end up even losing the small money you have to scammers and fraudulent websites designed to steal your money. You end up losing and not making anything at all. I’m not going to talk too much on this because I am only here to offer solutions, not here to talk about existing problems you and I already know. I’ve been through this before until I found something that worked for me. Now let’s go straight to the point.
WHAT IS FOREX?
So what is forex all about? Forex, also known as foreign exchange or FX is the global market where currencies are traded. It's the largest financial market in the world [babyPips definition]. This is a form of investment whereby you buy and sell currencies such as GPBUSD, EURUSD, GBPJPY and other national currencies. Aside the forex market, there is the Cryptocurrency, the Stock market, and other markets as well, but forex remains largest market and the most traded market with over $5 trillion traded daily. This is why you may want to trade forex over the other markets. You don't have to worry over which market to trade, because they are traded the same way although they are different. It is possible to make money on all markets with the right strategy. I will go deep into that but for now let's try to get the basic concept of what trading is all about especially forex trading.
How is forex traded?
To trade forex, Crypto-currencies, stocks, indices, etc. The first thing you will need is knowledge and education on trading in general. Without proper education and training on trading, your trading career will be in vain. After educating yourself, meaning doing your research, getting to know about trading and everything related to it. You need to keep in mind that, learning how to trade forex takes time and dedication to master the art of trading. Once you have acquired knowledge and skills needed to trade, you will need a demo account to practice trading. A demo account is a funded account to practice forex trading without real money. In this case you won't lose real money. The main purpose of a demo account is to practice what you have learnt and it helps when you are starting as a beginner.
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| Example of what can be traded |
Now back to the topic on how to trade on the market. You will need a live account after you have mastered the art of trading. Let's assume you choose to trade forex. In forex trading there are different types of accounts you can open to start your trading career once you've funded it, but before opening an account you will need a FOREX BROKER. A forex broker allows you to have an account with them so you can execute your trades. Without a broker it will be almost impossible to trade on the market.
To trade, you will need to link your brokerage account to a platform called MetaTrader before you can place your trading orders [to buy or sell]. MetaTrader will execute your trades when you link your accounts to it. There are many forex pairs you can trade [commonly known as currency pairs]. The major currency pairs you can trade include GBPUSD, EURUSD, EURGBP, USDCAD, USDCHF, AUDUSD, USDJPY. There are minor currency pairs as well which include AUDCHF, EURCAD, GBPAUD, NZDCAD and more. You can also trade exotic pairs and metals as well [metals include XAUUSD which gold against the US dollar, XAGUSD which is silver and more]. Crypto-currencies, Stocks, Indices are not forex pairs but they can be traded since some forex brokers include them in forex accounts.
Key points on how to trade forex
1. Educating yourself on what forex is about
2. Practicing in demo account
3. Signing up for a forex broker of your choice
4. Linking your brokerage account to MetaTrader
5. Choosing your preferred forex pairs and placing your orders
Topics on forex trading is broad and there's a lot to learn if you want to become a successful forex trader and make a living from trading forex. This article only brushed the surface of forex trading to give you a general understanding of what forex is about if you have not heard of it before. Like I said earlier in this article, you don’t need to buy or sell anything to anybody to make profits which makes forex trading the number one choice for millions of people across the world. With the right knowledge and practice, you should be good to go as a forex trader. My humble advice is, stop following all the unnecessary ads and promotions you see online. They are just time wasting and you could lose the little money you don’t even have.
Forex trading is legitimate and not a scam. It is mandatory for forex brokers to register their company with regulatory bodies such as the Securities and exchange commission, investor Protection Corporation and more to be able render their services to traders. In case a broker tries to mess up with you, these regulatory bodies are there to fight for you and help you retrieve your money. Millions of people across the globe trade forex, stocks and Cryptocurrencies including central banks, financial institutions among others.
Although forex trading is not a scam, there are fraudulent individuals who take advantage of this to scam people especially unsuspecting beginners. They call themselves gurus, experts, whatever and they claim to offer courses on trading, invest with your money for huge returns, trade for you and all kinds of bullshit. Many people have fallen victims to their scam. They are everywhere so stay away from such people and focus on how to become a better trader by learning and practicing. It will definitely pay off and you can make any amount you want in the near future.
Join our trading group
I started following and learning how to trade forex in 2019 and today I am good at trading and making gains. Although I can not brag of making millions, I am doing well enough and growing my income from time to time [consistently]. Forex trading has become a major contributor to my income. I don’t offer courses, I don’t sell books, or sell anything. I only want to share my experience and educate beginners on how to trade. You are here because you find value in this article. I invite you to be a part of my trading group so we can engage in live trading activities, do technical analysis, share opinions on the various markets, learn from each other and help each other out on the forex market. It is all about making profit whiles having fun trading.
To be part of this forex trading group we are building, you can send your email [CLICK HERE]and we [myself and others in the group] will respond to you as soon as possible. It’s 100% free to join, become a member and engage in trading with the team. Nobody will sell anything to you or take anything from you. Just join the group and have fun but please know that there are requirements and you need to be approved to be able to join the group. You will know the requirements when you send a message requesting to be a member.
Conclusion
The foreign exchange market is open 24/5 [Monday to Friday]. Trading is very profitable when done right, and to be a good trader you must be willing to learn, spend long hours practicing, trading, critical thinking and spending time behind your computer if you want to become a successful forex trader.
In our next topics will dive more into forex trading, other relevant topics on how to trade and make profits. STAY TUNED!
UPDATED: This Year's Profit
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