Today I increased the amount of money I have in my Forex investments to 7k. I started with just $500 in March of 2016, so I'm pretty happy with how much I've been able to save. At this point my goal is to hit 10k invested before the end of the year, and hopefully 40k at some point in 2017.
Now that I have 6 months of profitable trading under my belt, I'm beginning to find the confidence to start sharing what I've done with my friends, family, and even strangers on my Youtube channel. Not surprisingly, people have a lot of questions. So, I thought I would take a moment to answer some of them here.
What exactly are you doing?
Trading is a process by which people speculate on the future value of things (corn, companies, soybeans, currency, etc...). So, I am buying these items and selling them, hopefully for a profit. More specifically, I am focused on the Currency Markets because I have found the tools for automated trading to be fairly well fleshed out and robust.
Is this high-leverage, high-risk trading?
Yes --and no. In my opinion and limited experience, any trading process that will yield 20 - 50% annual returns is high risk. If you stand to make a lot, you probably stand to lose a lot. Consequently, this sort of thing probably isn't for everyone. You'd need to be someone who takes self education very seriously. There are things I've done to mitigate my risks, but nothing is certain. My performance could decline, stop, or reverse at any time.
Is what you're doing legal?
Yes, as far as I know there's nothing illegal about buying stocks or currencies. I pay my taxes and am happy to do it (mostly).
Robotic, automated trading? That sounds complicated.
It would be complicated for someone who doesn't know how to teach themselves things via Google and Youtube. Having a solid understanding of how to use computers and even some basic programming skills are very useful. That said, robotic trading has been some of the easiest programming I have ever done.
Are you going to quit your job?
Well, not any time soon. But at this point, if things continue as they have been, that will likely be an outcome in the future.
How much are you actually making?
You can see some of the earnings from my live trading account here. I seem to be averaging a return on my money of around 4 - 10% a month. I'm on track to do 30% this year.