Hello, my name is Alex, I come from Cologne and am 32 years old. I work as a product manager in a small company and the work has always been fun.

Besides my work and my hobby, playing football, I have always been interested in the world of finance since my youth. I have often regretted not having started studying economics after graduating from high school. Above all, I have always found stocks particularly exciting and so I came up with the idea of researching on the Internet what possibilities there are to gain a foothold in the financial sector and trade in stocks even without studying. I also talked to a colleague about the topic and he gave me the tip to deal more closely with the topic “Forex Trading”. Not only according to his experience reports this system brought in great profits, also many people in forums reported of a great additional salary, which brought them trading.

In addition, several people reported enthusiastically about the possibility of automated trading and in this way almost earn money in their sleep.

Of course, I was sceptical and wondered if it could all be so easy and why not more people go this way to try their luck at online trading.

However, the topic did not let me go and I decided to try it myself with a small investment before I thought about the functioning of this system. After some research and the tip of my friend, trading foreign exchange seemed to meet my requirements and although I didn’t have any trading experience, I started to read more about the topic. I stumbled across the book “Inside Forex”, thanks to which I could not only learn a lot about Forex trading, but after the exciting reading I finally felt ready to make my first attempts at trading.

I was looking for an internet platform where I could make my first steps in this business. I came across the provider Plus500. What convinced me here was that at Plus500 you can trade not only currencies but also commodities or stocks and that the Internet Broker is one of the oldest and most successful brokers in the world. I thought to myself that so many customers can’t be wrong and it would certainly have a reason why so many people invest their money with Plus500. Another point that absolutely excited me was that when I opened my trading account I was given a €25 balance that I could use immediately. It was therefore not necessary at first to pay in own money. But what can I say, this money was gone faster than expected. Contrary to other Internet brokers it is enough with Plus500 however a minimum amount of € 100 to deposit and already it can go on with the acting. That makes itself then also and already soon I could drive in first small successes.

The first Trades – successes and losses are often close together

The excitement after the first time I had invested money and observed the price, I can hardly put into words. I was incredibly excited and although it wasn’t about a lot of money, I felt like I was facing an exam on which my future career depended. Of course, this is mainly because I had always hoped to gain a foothold in this field and earn my money in financial trading. To minimize the risk, I had opted for the Stop Loss Order, which limited my chances of loss. Nevertheless, I was incredibly excited and after 15 minutes I was finally ready to close my first position and make a small profit. My feelings that flowed through me at this point were simply fantastic. From then on, I was thrilled and couldn’t wait to play my next position. But that led to my carelessness and the first losses followed. I had to learn that you have to be patient if you want to trade successfully and with a low risk.

After a few small losses I became more cautious and soon I was able to make a bigger profit, which allowed me to buy a beautiful watch that I had dreamed of for a long time. My trading experience was still limited, but it seemed to be enough to make smaller profits. A short time later, however, things looked different again: according to my experience at the time, the prices behaved absolutely erratically and incomprehensibly. Some losses led to the fact that my budget was actually exhausted. I was already thinking of finally stopping trading, but the euphoria of the beginning should soon be over.

After the rain comes sunshine: with new motivation for success

I talked to my friend about my negative experiences and that I would think about stopping trading Forex completely. He said to me that absolutely everyone has to have this experience and it is important to have more success and become better. He told me about his own experiences and how long it had taken him in the beginning to achieve greater success. Nevertheless he didn’t give up and by now I knew how successful he had been. So I decided to give it another chance and simply practice more before I would dare to act again. For this purpose I bought more books and opened a demo account with which I could gain more experience without having to invest real money.

After I felt more secure and had dealt more with forex trading and risk management, I again deposited some money into my account. Instead of € 100 I decided to go a bit higher and deposit € 250 into my account at Plus500.

The restart was successful and although I made small losses in the beginning, I was able to continue trading with my deposited money. I have to say that this situation was crucial for me, because if it had been different and I had to deposit money again, I don’t know if I would have stayed.

I used every opportunity to learn further and analyzed every single trade for my mistakes and current trends. I bought myself a notebook in which I noted my observations and tried to find out which currencies I was most successful in and why. So I came to the conclusion that I was better able to open a few trades and keep an eye on them as I increased my chances of closing them at a profit or at least making very small losses. I now paid more attention to seeing whether a price was fluctuating sharply or was more stable before making an investment.

Since that time, I’ve been making profits for nine months now, and that’s how I’ve built up an attractive secondary salary. Little by little I also deal with larger sums and who knows, perhaps in a few years I will really have the opportunity to live only from this passion. It is a lot of fun in any case and one or the other additional holiday is now also possible thanks to the lucrative earnings.

I can only recommend it to everyone to start trading Forex: It’s a lot of fun, it’s exciting and with a little patience and practice it’s not a big financial risk. On the contrary, I’ve never enjoyed my bank statement as much as I have in the last nine months.

 

Experience report written by Alex, 32 years, from Cologne