HOW I EARNED ₱14,000 in FOREX TRADING? BEGINNER | Thru GCASH | My TECHNIQUES in MiTrade EXPOSED!
And computing all the gains that I had for the past few weeks that we started here in our trading, Forex Trading. I computed that. 250 Dollars, guys.
That is around.. how much in pesos? Hey, someone pumped. Someone pumped, wait. So as of right now 250 USD is 14,300 Pesos around 14,000 plus. In this video we have 5000 pesos Gcash giveaway.
You just have to find the missing code, which will appear in this video, and fill it in the Google form. Link in the pin comment below. So in one video, guys, you'll have one raffle entry for our live draw by the end of this month. So what are you waiting for? Click the notification bell for you to always have entries for every video and be one of the three winner in our giveaway. So, as you may noticed, I frequently post our small achievements regarding in Forex Trading, there. Because, as a beginner of course, those small gains or small profits somehow increases our portfolio.
And it's nice to see it, isn't it? Those green numbers, right? That's why for today's video is I will share with you what I've realized, what I've experienced regarding Forex and of course, it also involves what I've observed comparing Crypto to Forex as a trading instrument. We will also be transparent about our trading performance. Because I only oftenly share on our social media is the gains.
So, in this video I will also show you our losses and of course, my ways of trading using MiTrade because this is what really helped me as a beginner to follow Forex Trading. So, if you're interested to get to know more I just want you to stay tuned until the end so you'll not miss any information. So, guys if you want to get started on Forex Trading, I may suggest to you to watch part 1 of this video. Because in the part 1 guys, I taught you on how we can open an account using MiTrade. I also taught there the process of trading guys. the most basic principle as well as operating the platform itself.
There. But in this video guys, is I will give you a summary on how to get started, okay? For you to download MiTrade, just click the link on our description box. So MiTrade is available guys on our computer through web browser. So this is how it looks.
If you can actually see, better view if you see your trading chart on the big screen. And it's also available in our mobile phones. And for me guys, I prefer trading using their mobile application because here guys, it is very compact. Though in the web browser is also very compact too, maybe here I really got to used to the phone and most of us prefer using the phone because it's handy and portable, right? And then when signing up, you just have to fill-out the necessary information, provide a valid ID for KYC because its a must, okay. And here guys, you can deposit with a minimum of 50 dollars or 2,500 or 2,600 pesos around that through our local banks or e-wallets like GCASH and MAYA, right? So that's instant guys, once you make a deposit, it will go into your portfolio right away. And even for withdrawal guys, our local banks and e-wallets are also available.
like GCASH and MAYA. . So here at MiTrade, it's not only the Forex that we can trade here. We have Forex, Commodities, Shares, Indices, Cryptocurrencies.
There, so just to share with you guys since we are also here in crypto. I became aware of trading through cryptocurrencies, there. So we already know that when it comes to crypto, our gains and losses are always whole numbers that are percentages. You can see that bitcoin is a very bullet tile of all the digital assets available.
Actually, we encountered a 44 percent loss. Right, it's phobiatic. After that we just left it. Come what may, like that. But guys, many people got rich from bitcoin, especially during the pandemic, there were people who did spot trading like they buy bitcoin and then they increased the value.
They sold at the time when the value increased. And as for us, we didn't sell, that's my bad luck. And it's me guys, I also didn't take long to do features or do contract trading using cryptocurrencies because I know it's too painful. My stop loss hits right away, right? Unlike in forex, so comparison between the two types of markets. Because here in Forex guys, the gains and losses percentage doesn't not too much reach a whole number. So if it reaches, it's only 1 percent like this with NZD/USD.
Today it reached 1 percent, that's a big gain guys, that's a big gain for today's video. There, and here guys, my stop loss is more realistic because our stop loss oftenly doesn't hit. I mean the base of my stop loss, based on my portfolio, of course our portfolio is small, we only started with 100 dollars.
Of course we can't deposit too much right away as a beginner, right? We will study the platform first. So based on my portfolio, my stop loss is 10 dollars, -10 When my trade contradicted and it loses -10 dollars, the market automatically closes because that's the price I have assigned. And the good thing is that even if your trade ostentatiously contradicts against your trade for a long time, your loss will not go down because you have already set a stop loss of -10, right? So, that's what I liked about Forex comparing with you know, Cryptocurrency. Crypto is a really phobiatic. That's just only in my experience, it still depends on your risk appetite. If you are a risk taker, why not go to Cryptocurrency right? Too much, too many bullet tiles, scary right? So, here in MiTrade I just share with you guys our favorites. Here are the ones I traded for the past few weeks when I started Forex Trading.
This is what oftenly traded in Forex is EUR/USD and then the USD/JPY, Australian dollar. What is ZAR, is that African? Yes, South African rand. This GBP, Great Britain pounder then US dollar. Those are the ones that oftenly move here in Forex, but in my experience of all the pairs we have used here, the most bullet tile for me is this JPY.
Japanese yen, yes it's mischievous . So here it is guys, how I trade here in Forex. Actually, I don't know if I'm doing right. Guys, this is not a tutorial. This is not a tutorial, I'm just sharing what I know. All right. So here, I am basing it on the homepage, on the strategy. There, so guys, I don't recommend that you really rely on strategy.
It is still better that you have research and observation regarding the movement of the market because sometimes there is a prediction here in the strategy of MiTrade that the trade contradicts others. I mean opposing the other pair. Like for example this is EUR/USD it will oppose with other the USD pairs. I mean the ones in front are the USD. How can I say it.. Because in the EUR/USD, the USD is on the second one.
That currency is contradicts the USD. USD/JPY is contradicting, okay. If you can observe in the chart the EUR/USD is bullish, but when you compare it with USD with other currency like JPY or whatever, the chart goes down. So for further example, I don't know if you get it. These are the ones that look alike, EUR/USD, AUD/USD, all USD's againts currencies. The opposite of that is of course, the one that ahead is the USD USD/JPY, USD/ZAR.
If you notice the chart, it is opposite and the others look the same, that's it. So I don't know, did you get it? That's it. There. Actually, it's not totally similar, here if you observe the EUR/USD and AUD/USD the charts are similar but there are slight differences you know, the curves of the lines. If EUR/USD is bullish then AUD/USD is also bullish. So that's how other Forex charts work.
That's what I observed as a beginner because that's what it really is. It's just like you know with Cryptocurrency, when you see bitcoin go up, ethereum goes up too right? So it's the same. It also has a disclaimer, this strategy does not mean that was stated, that their preference on USD/CAD will increase. Let's say, it says it will increase. Long positions above 1.3260, there. Those are the prices, you can see that on the chart. You will understand better if you read it yourself.
And here are its target prices. 1.3325 and 1.3340 in extension. In extension means if the price of USD/CAD is more than 1.3325. So, it still has an alternative scenario. There. This is where we will go fall into the alternative scenario if in case their preference does not come in, the prices that contradicts them will come in here, okay. So it can't really be stated that we should depend ostentatiously on the preferences they give.
We should still observe the prices of course, what is the pivot, where to start, what is the support and resistance. There, we can see that here at the bottom of the supports and resistances. The alternative scenario, you have to consider it as well. It seems that our take profit and stop loss here also depends on their preference. But it's up to you, okay.
It's up to you on what your risk appetite is, if you want to take a big risk, you should increase your take profit, right? So guys, that's what I have observed here in the strategy. And another thing that we need to consider here in the strategy is the date and time of release of their data, okay? You will consider that the percentage of reliability of a strategy is higher if you saw the trade post or you saw the strategy post like 5 minutes ago. Sometimes it's like that, 5 minutes ago a new strategy comes out. So the probability is higher if that trade is good. Because sometimes it passes, don't follow it if that trade has passed for some time. There is a tendency that it is still okay, but it also has a tendency that the prediction is passed, right? That's all guys.
And by the way, these trading strategies that MiTrade provides are sourced from the trading central, okay. They have a disclaimer at the bottom that they are not responsible for your loss. So you have to be really responsible for deciding what kind of trade you will execute. And of course, for the loss is not painful, you should really set your stop loss. So, in my case, the money I use to trade here on MiTrade is only around 10 percent. That's the margin I use. There, when we say margin to those who don't know yet, watch the part 1 so you can relate because I taught in part 1 the parts of how to execute trades.
These are also terminologies that we don't know as a beginner. So watch the part 1 video if in case you're a little confused, okay. So, basic principle of trading when you buy based on your observation, the price of the market will increase. It goes on another way around, when you sell, the market will go down, okay.
So now guys, here is the buy, let's say here in the quantity lots the price of your margin depends on this. It seems that this is what you invested for that specific order, okay. This is the most important part, the take profit and stop loss. So you will set that so you can decide on how much you want to get from that trade. When the price hits here, you will get 7 dollars.
So, the stop loss is lower because we are in the buy When you are at a stop loss, you lower the price so that your loss does not exceed 8 or 9 dollars as of right now. It like you stop it, that's it. Don't force it, then. That's the principle of trading, okay. So guys, in order to avoid loss when I see ZAR's chart like this, which is up down up down, I don't enter it because it's so unpredictable. I am afraid of such trading.
That's the up down, up down too much like it's hard to spell. There, though it can be seen as a down trend and it can also be seen here in the strategy. It's up to you if you would like to take the risk. I'm just afraid because it's so up down up down it might hit my stop loss.
So it depends on your stop loss, if you hit because you have no choice, you will lose 10 dollars, right? So that's my stop loss price guys. It depends upon you. It depends upon on your risk appetite how much you want to stop loss because risk management, you will actually manage that, not someone else, okay. Disclaimer guys this is not a financial advice, I'm just sharing my experience regarding in Forex Trading, there.
Also my ways of trading is not a tutorial because I am not an expert. I'm just saying what I know. And if you are a Forex trader by the way, please comment down below what you suggest to me to do to improve our trading experience, that's it. So I'm willing to learn because I'm not an expert, I'm just getting started in this kind of industry, okay. Industry? Showbiz industry, there. So, comparing with crypto, the Forex market is also more predictable because you can see that it will go up, the price will go up, right.
So with the help of the strategy too, the strategy will also be more helpful for you to decide what you really want to trade. Whether to buy or sell, what currency pair will you use? That's it, right. Like this, GBP/USD I recently tried it. Our chart is really very predictable with an up trend, so here I am more confident to buy. It's stated here that upside prevails. It's because I don't know how to look at the indicators here, and I have known others that they are making lines, right? They really line up the resistances.
I think the resistances and the support resistances are also based on the previous performance of trading. So that's where all traders are based, so that's what everyone follows, so that's what becomes the preference, right? And I can also say that it is more realistic. I mean I'm not saying that other markets are not realistic, it's just that for me Forex is more realistic because the world really needs Foreign Exchange. Like economies in every country, trading is really a thing, there. So these Forex prices can really be said to be reliable, right? So Forex prices are also very transparent in the news and what we see around. When you go to the bank, you will see the price of the peso, you will see the price of the US dollar is rising.
So we can see in the news that the dollar has increased against this price, in this currency. So we can see what is happening, so Forex is actually more realistic in real life to use as a trading instrument. It's more predictable therefore, right? So that's why I prefer Forex as of right now. That's it, so here we go through emotional. Because you will experience sometimes that when you execute your trade you will see that it has gone negative, you will feel nervous now because it has gone negative.
But guys, what I learned is that you should not let your emotions go because there is a tendency for your trade and market price to contradicts. The important thing is that it won't hit your stop loss as long as it doesn't hit your stop loss, you're okay, okay. But there is also a tendency to observe that the wind is blowing in a different direction. So what I'm observing guys is that I'm stopping it, okay.
So as I have stopped it, we have those realizations that you notice when you've been for so long that even if you are just starting, you see what you need to do when it comes to trading. That's it, I hope our expert traders don't bash us, there. So here it is, guys, so that our video doesn't get too long, I will share with you our trading performance. So I started here with MiTrade, our portfolio is 100 dollars in the part 1 of our video right? As of right now, our portfolio is 164.65. So if you can see for the past few weeks, it's just a small gain guys.
It's really small because apart from the gain, there are losses, right? And it's part of the learning process. I'm not sad that I'm very slow in Forex. Our profit is very slow because as a beginner, right, it's okay.
It's okay as long as what we gain is bigger than the loss. Now let's go to the portfolio. What a shame. Why? We will be ostentatiously transparent. As of right now guys, I don't have open orders because I'll panic during the shoot if we have open orders here, open position rather.
There, so let's start from the very beginning. So here's what I paid for while I was shooting, the first one, 32 dollars. Actually this is the biggest gain that I had because I wasn't thinking about it when I did the shoot. For the sake of this tutorial, right. But you know, unfortunately our trade got better and our trade hit 32 dollars in just 1 day. Because at that time the currency really moving, I mean the Forex price is moving.
So yes, I liked it so i continue it. I was careless too, there. 10 dollars, 16 dollars gain and then we are a bit emotional about there in 3 dollars and 1.4.
When I see that there is a loss, let's stop right? There, we also had a 10 dollars gain and another 10 dollars gain, right? I can't remember what happened there. After this I had the most hell week. Hell week for me, successive loss. I only have one gain, 10. 83 dollars. So my losses here are big, if you put them together it really makes me cry. That's it. I feel like the things I gained are disappearing.
This has been like a week like its all red and I'm not posting on social media that time about my trading performance. It means that when I don't post, it means that our trading is losing. Okay, then there it was, it's back. I've kind of moved on here, there. 11 dollars, the feeling is good for me, 11 dollars gain. And then there's the big thing that we're learning, it's green.
And then for example, in USD/CAD that I lost .65, this is the trade I based on the strategy but it seems to be contradicts the wind. It contradicts the directions of other trades so I stopped it immediately and unfortunately I really stopped my trading there because I will have a big loss because all of that contradicts my gains, okay. So, you also need to observe. USD/ZAR is also at .53. I have small losses,
I immediately stop my trade, that's it. I don't regret it, just go like that. I also have small ones that seem to bother me. This is it guys, this is what hurts me the most. I will share the ones that I am broken hearted.
One night there was a ostentatiously happen. There was a time when it only happened to me once. The price of USD has really pumped everything up. Actually all currencies are pumped. I posted that on Telegram, the time that the price really pumped up.
I don't know if it was the USD price or something else or the USD price really dumped. It's just that the price is really pumped. I don't know, maybe this is related to crypto.
You know that when someone sells USDT or buys crypto for a huge amount of money, Forex is affected because it comes from our currency and the fiat currency that is bought with bitcoin. And if you sold crypto or you sold let's say bitcoin, it will go to fiat, the price of fiat currency will shoot up. So, right it has that. It shoot up contrary to my trade, it's a good thing I had a stop loss otherwise, my portfolio would have been gone. There. 13, 12, those 13 and 12 dollars I opened them all at the same time because I'm so confident during that time but suddenly it happened one night. The feeling is really painful. Then I got greedy. You know our mentality is that it's not possible, I have to have a gain, I will get that back.
When the price of a currency pumped, this is actually what we encounter sometimes we have frustration, I had short sell. Here is EUR/USD, I made a short order or a sell order because I expected it to pump, it will also go down like a pump-and-dump because that is the movement of shift coins, right? So, I made a sell order but it pumped even higher so in just 5 seconds guys, 10.5 was lost. 5 seconds, right? It really hurts when your eyes see the stop loss hitting. It's really pompous, the pain is legit. So there, the feeling is a bit painful but our portfolio did not reach less than 100 dollars at that time because I already had more than 200.
Our portfolio was about 200, but it was only about 120 at that time. I was a little discouraged because of course you know it's really discouraging its like you don't want to trade like that again. But I was not affected by that. Just tell to yourself when that happens, no this is part of the learning process the important thing is that I manage my risk, my money is not used up. Like that.
It seems that my investment is still here, the 100 dollars that I have deposit, right? It's still here, my money is only 120 dollars. I still have 20 dollars to gain, duh it's not that painful, there are other traders who lose 200,000 pesos like that, but don't imitate them, don't even think about that. Don't imitate it, the important thing is to manage your risk. That's the most important of all is the stop loss, okay.
And be disciplined, don't invest money that you need to use in your daily life. I mean don't invest the money that you cannot afford to risk. Okay, so here on the top guys, these are my latest trades.
We are able to recover a little there, although there is still a flaws of 10.42 loss in our close position because I fell asleep, we are guilty again. I fell asleep, I didn't overtaken it the market was contradictory that time.
Because there will be times when it contradicts itself because it is not all going up and there will be part when it will go down. Yes, you should be awake at that time, you must always be alert to the price of the market at that time if you have an open position. So now I couldn't catch it up, I fell asleep, it was early in the morning, it was 2 am. It made a stop loss, closing reason stop loss. Good thing it has a stop loss, right? So to the rescue stop loss. So that's my trading performance here in MiTrade as a beginner, as a beginner.
And computing all the gains that I had for the past few weeks that I started here in Trading, Forex Trading. I computed that. 250 Dollars, guys. That is around.. how much in pesos? Hey, someone pumped. Someone pumped, wait.
So as of right now 250 USD is 14,300 Pesos around that 14,000 plus. So we gain 14,000 Pesos right by just you know trading as a beginner. But of course that's not a solid 250 dollars, our loss is 142.
The important thing is that your gain is bigger than the loss, which means you still have a profit. So that's part of learning especially if you're just starting out. And for me what I absorbed is I think this is not too bad performance as a beginner because I have really become aware of crypto, I'm more phobic about crypto that's why we brought our phobia to Forex. Our portfolio right now is 164 so therefore our solid profit here is 64. 65.
When we add all what all of our gain, is 250 dollars, our loss is 140, okay. And for me, I will still keep on going in my trading experience with MiTrade and I'm willing to learn and I'm willing to take if there are webinars as well. Because I don't really have time to look at webinars yet.
If you have any suggestions too on the webinars for Forex just comment down below and even in providing. Some also provide trading signals guys that are more accurate. I'm not saying that MiTrade is not reliable in terms of strategy, but it's also good that I want those who have trading signals to experience it that really provides when to it will close and when to open like that. I don't want WallStreeBets, I've already tried those pump and dumping, I don't want that. Comment down below what works well for me because you have seen my trading performance. I was transparent in this video.
I'm also open for criticism about the things I've done wrong that I don't even know about. And of course, if you are interested in starting Forex Trading you may sign up for an account at MiTrade. You can just click that link on the description box below.
And if you're really just starting out, they also have a demo account. There, if you don't want to make a deposit, there is a demo account there that you can play with. They have 15,000 dollars of virtual money that you can use in your account. And for further and more precise tutorial regarding sign up, how to execute the trade and everything we have a part 1 video. I do recommend watching that. Okay. So there you go guys. And thank thank you so much for watching this video
and if you enjoyed it give this video a like and subscribe to my channel. Click on the notification bell for you to get notified to my uploads. So have a nice day. Godbless and goodbye.
2022-12-01 00:02
