Life Of A Forex Trader
#leofinance
Hi there !!
I'm Joshua Jessie.
And I'm into forex trading among other things.
I'd like to say a thing or two about my experience as a Forex Trader.
I hope you find it useful.
Feel free to share your ideas and opinions in the comment section 😉.
Okay For those who don't really know what Forex trading is all about let's quickly run through it 🙌
Forex trading is the exchange of one currency to another for trading purposes.
Foreign Exchange (forex or FX) is the trading of one currency for another.
For example, one can swap the U.S. dollar for the euro. Foreign exchange transactions can take place on the foreign exchange market, also known as the forex market.
The forex market is the largest, most liquid market in the world, with trillions of dollars changing hands every day. There is no centralized location. Rather, the forex market is an electronic network of banks, brokers, institutions, and individual traders (mostly trading through brokers or banks).
I'd implore that you read up on this to know more... 😊
I'm not here to give a lecture so I'd just move on to what I'm here to say
I started learning to Trade in 2020.
My Uncle who is a seasoned trader Taught me how to trade.
He as been my teacher from day 1 and I'm still learning from him. he is very good at trading.
Throughout the lock down I spent the whole time learning to trade.
T'was a Really drilling time for me.
I had to learn to control my Emotions and not allow it influence my trading.
It was tough
In the process of learning I experienced the pain of wrecking account.
The joys of flipping small accounts to large ones and so on😂😊
It was entrilling and memorable
Let me talk about my experience on my First live Account !!
My first real account was a hundred dollar Account...
I was just fresh out of learning and I needed to try my hands on the real thingy.
But I made a costly mistake‼️
I used a broker called FXTM .
I didn't open an ECN Account.
So my spread was too wide.
Infact it was so wide that I was always in loss.
For those of you who don't know what an ECN Account is
Let me throw more light on it
ECN (Electronic Communication Network) account is a choice of professional traders who want the best possible trading conditions. The ECN account allows buyers and sellers to trade directly without any middlemen. To open the ECN account, you need to make an initial deposit of $1000.
Depending on the broker though
Many atimes i get an entry but for a longtime I would still not be in profit.
Because my spread was too wide.
And I'm a day trader.
Who trades small time frame and few candlesticks
As a result of that I wrecked that Account 😂
And here in Nigeria it's not easy to get a 100 dollars
😂😂😂
It made me really Sad.
But after consulting with my uncle he made me realize my mistake and he encouraged me to Not give up.
I got motivated again and after realizing my mistakes I decided not to give up😬
I saved again and Funded my first ECN Account
And I was able to grow it successfully !!😊
I flipped the account in two weeks 🥳
Now I work for a Company as one of their Traders.
I work for @SwiftCapitalHub
Feel free to Ask me for our offers on How to manage your forex Account for you.
In summary... The life of a trader involves sleepless nights, risks, loss and Gains.
You must be ready to Pass through this process to become a successful trader.
I'm not at where I want to be in terms of trading but I've learned alot due to my past experiences and I know I'm a much better trader now.
The facts speaks for themselves 💯.
PS: Forex trading is not for the weak hearted.
You must be courageous and intelligent. 🙌🏾
I hope you gained a thing or two from my experience.
Kindly leave a comment for me😊🙌🏾
📉📈📊
Wishing you a great Year ahead🎉🎉
Okay
bbfn
Bye Bye for now
▶️ 3Speak