Currently: On it and making profit.
How much profit have I made?
When I began to make profit, I started with those 10.000€. Later I added several thousand more. Here I will review how much I made after a while, in order to keep track of the profits. I started quite late in 2016 but the little profit showed me that it was way better than any bank investment. So basically I was happy with the decision and diversification. I use this calculator.
- 2016 profit: +4,4% profit (in 2 months)
- 2017 profits: see below
- March: +0.82%
- April: +1.87%
- May: +2.6%
Getting into Forex and tools I use
I’m aware that every “money story” on the internet sounds like scam shit. But as everything I write here, is for my personal records only. I don’t care if somebody want to try it out too or not. Here’s my experience with Forex trading.
My interest in making money trading currencies begun when I was living in Zagreb, Croatia (0% tax on trading gains by the way). It was my last day there before heading back to Barcelona and Pavle letted me crush at his place. He was studying economics and he had been interested in this whole money and finances things since forever.
Speaking with him he showed me a phone app with numbers and graphs. He explained how he and his business partner they have been working on this project. Basically I didn’t have to do anything. Put the money on the well-known IronFX trading broker, give credentials, deposit money and it traded British Pund & Canadian Dollar. I explain more steps below.
I thought it was scam for one second
Don’t blame me. In the era of internet everybody should be a bit skeptical about moving money and sending personal documents. But I had what I think it was a few good reasons to trust my friends and this product.
- Well, first of all I knew Pavle. Not for a very long time, but I knew him in a way somewhat more personal since we had been gaming girls together (he is still a machine), and if he was as good with his money-products as with chicks, I was sure this was profitable.
- He sent me in a not-rushed way some presentations about the trading company IronFX and his product system. I researched about the first one, seemed legit with opinions on internet. What I had to trust was the product itself.
- The proof seemed real. He showed me the phone app, his savings on it, his mother money also there. Since he wanted to market the product somehow he also did a Facebook page to post about the results.
- Also he didn’t try to make me join like crazy. He was like “Oh, you would be interested? Yeah I can hook you up”. That would be the most old scam-trick in the book but again, I knew him.
- Important point is that I was doing good money, and the money that I invested at first was the money I was making in one month. Basically in case something bad happened didn’t mean a big deal anyways. Although it definitely would have sucked.
I had 10.000€ sitting on my bank account doing nothing, and this seemed like:
- A good way to make money passively.
- A good story to tell if I was scammed.
Opening the account and sending money
This was a love-hate relationship. Mostly because I had to go to the bank a couple of time to ask for a statement because the first one was not valid. I also had to send my passport and ID several times because one side was with no color among other details.
I say this is a good-bad thing because it makes it look more serious. If everything was accepted at once and didn’t take several weeks to be approved would look that they are just after my money. So this actually makes the service more reliable.
After sending all the documents several times (they were very picky, which is good), they sent me a LPOA I had to print (thanks Uppsala library), fill out, tack pictures and send to a 5 different emails.
About sending the money they offered me two choices to make more profit with what their algorithm work with.
- Send 10.000€ and convert it in dollars and trade Canadian dollar and English pound.
- Send 15.000€ and besides the Canadian dollar and English pound also trade Japanese yen.
I went for the first one because I didn’t have the another 5k at the moment. I figured if the first one gave good results I would put more money. I sent the money to one of the IronFX account in euros and I transferred it to another of my empty accounts in euros for a better conversion rate. After that everything was ready to start making money with the algorithm.
Already making profit after a few days
The first thing I did to track everything, was to download the app MetaTrader 4, which was the one Pavle recommended and he had on her phone to track everything when he showed me the deal back in Croatia.
Either, I honestly felt like I was the Wolf of Wall Street with all those charts and stuff. Of course I don’t have the knowledge to do any more moves more than take Pavle advice, who is the expert.
The pound crushed and this is what happened
One of the things to fear for a lot of people trading, is that like with stock or currencies can be massive drops or things that make us lose money. On October 7th for example, there was a big dropping in the British pound. Here they explain it.
Now, I wasn’t in trading but I was on my way to create an account and send my personal documents to validate it. I asked Pavle about it and he told me that the algorithm stopped working (on purpose) before it happened.
For a few days I think, it remained like this. Keep in mind that this is for the long run. So for me is way better to stop working and go for a safer moves. Again, I have no idea how a non-robot-trader (aka human) would do it, but it’s all about the peace of mind, and knowing that this is an algorithm that acts this careful gives me zen.
I lost quite a bit of money several times
Yes, the panic came to me in an instant. I was in New York and I got to check my app… Damn! Pavle! He said the managers were checking, and actually right after that I saw how the algorithm recovered from the hit and I actually made a bit more of money right after that. As Pavle told me, at the end is about trusting that the algorithm knows what is doing. And he was right. At that point I realized I didn’t have to pay that much attention to all that, and let the numbers do it’s buying and selling without me checking every moment.
In June the proud crashed big time because the election results in the UK. That made me lose more than 7.000€ over night. Yes. I had quite a bit of money invested. The $200 lost in New York seemed like child game after this.