So here are the links to my May results for my Forex and Gold trading services.
Forex Trading results for May 2021
Gold Trading results for May 2021
Below are company results too for May 2021 as they provide trading signals for customers too.
(Please note - this is my chosen methods and what I’ve done and works for me – its not what you have to do! Everyone is different and will approach the same topic differently.)
(note: complimentary blog post on this topic is How to use margin % as a guide and tool.)
Automation trading is great, but we will still need to take an active role in understanding what are accounts are doing so we can make our money work harder for us. However, this does not have to be hard and requires a few educated tools to have at your disposal to know what to do when you need to do something.
So, to help show these steps lets make up a scenario. The scenario is that your MT4 says the following (this is an example)
Understand your Margin Level % and know your drawdown
So you wake up in the morning and you see these figure. How do you interpret them? Your first key figures to check are:
What do these numbers tell me?
Well first they help me get clear on the health of my account. The Drawdown tells me that if I closed all the trades right now, that would be our loss, 1478. It also tells us how much active money is being traded in our account. The Margin Level % tell us about how much capital we have left for trading. The higher this number the great capital is available. It’s worked out by dividing Equity by Margin. (1774 / 186 x 100).
So 968% suggests we have a good amount of capital available to set further trades if we need too. With a comfortable 968%, I’d be watching my trades now, and just keeping an eye open on what is going on but not taking any action.
Know when you need to start considering your options
So, let’s say the drawdown deepens and my margin level % falls to 700% and there isn’t a clear direction where the market is going. I’d start to feel like I just need to pay more attention to this now and start to feel like I need to think about my options.
This can vary from person to person. In the beginning I started to consider my options closer to 1000% but with education and a stronger mindset to trading, I’m comfortable at getting to 500% before I consider my options. This part is up to you! What we are doing at this point, is getting ready for taking action on our automation account (if we need too). Ideally, we want the automation to take care of itself but it’s important to stay on top of its activity.
Its also that this point that many start to question the intent of the automation and the professional traders and it’s a natural emotional progression because we see activity going one way and we seemingly are going the other but we aren’t the professionals, we don’t see what they see.
Know what options you have to choose from
So, our margin Level % is falling. Our balance is also falling – things look concerning!! You are not sure what the outcome is going to be, and you certainly don’t what a margin call on your hands. So what options are open to you.
a) You can add more capital. A quick and simple activity to help raise your margin level % and give you more space. To protect your account raising your margin level % is a good option for you.
b) You can close a trade. I’ve done this move because I didn’t want to add more capital and chose to take a loss on an old trade which I knew would take ages to get back too. Doing this raised my margin level % and helped my account. Which trade to close depends on several factors but when I was deciding I was prepared to sacrifice old trades so I looked at them and you could take out a higher LOT size trade with a small loss and help release more margin level %. Higher LOT sizes hold more margin so another useful option when considering closing trades. You can close more than one trade if you want. Its just takes some decision making on your side.
c) Reduce your overall risk by reducing your LOT size. This is also an easy adjustment to make but its one I tend not to choose but I share it as an option. You see with automated trading the likelihood of going into a grid strategy is higher, so we use the larger LOT sizes to help us cover any loss of small lot size trades. When you see it in action, its pretty cool! Large lot sizes are a short-term goal to help accumulate profit to cover loss of other trades and to at least break even or close in a profit. I’ve seen a number of grid strategies come into play and I’ve always broken even or come out with a profit. It feels like a cleanse when you see a load of trades close on your account! You are then excited for the next chapter of trading.
d) If you have another trading account – transfer additional money (in the short term) from it if the margin level % on that account is healthy and comfortably over 1000% and you are not seeing any heavy market changes in the short term. I have moved money between accounts when margin on one account was low. Its quick and the transfer is immediate. You can always put it back once the margin level % releases back to a healthy level again
Decide which is right for you.
My commentary above are just options. You can do whatever you feel is right for you, but these are options that have worked nicely for me and helped me deal with the couple of moments of automated trading where you need to take a bit more interest in your account and be prepared. I’ve used 3 of these options. I hope to discover more as I get better at this. Ultimately it helps the ‘emotional’ part of your trading journey.
(The commentary I write is not financial advice, it is meant to help others with their self knowledge and growth).
Firstly I'd like to say thanks to Viktor for his time and sharing his trading journey so far. We had spoke a number of times on telegram chat but this was the first where we had sat down and had a conversation about the trading and how its been for him.
Viktor story is one of seeing what is possible and just going for it. He's taken monetary action in many parts of his life and 18 months into his money growth journey he is starting to see the benefits.
He's such a nice guy and well deserving of all the successes he has had. I can't wait to see how his story develops in the ocming year and see his family and him go from strength to strengh. This is his interview.
note: I had a computer crash shortly after this recording and was able to save the audio. Instead we plugged the space wtih pictures of Viktor and his family and pictures of Edinburgh, where he lives.
Caroline is a respected money coach and has been in the financial industry for 20 years. She's has helped many form a better relationship with their money. She started her forex journey back in July 2019. She started with using trading alerts and quickly migrated to the automated trading service provided by IX Global. In this interview she shares her journey, her challenges her learnings and she advise to those thinking about considering forex automated trading services to help them towards residual income.
Forex trading is the buying and selling of foreign currency for profit. You will have experienced it when you are travelling and a currency will be weaker or stronger against another currency.
The primary players in the forex markets are the banks, large commercial corporations, hedge funds, large investment houses and a small portion are the retail traders - which is what I am. The market is really driven by the bigger players.
The currency prices move up and down daily and this is called a trend. A forex trader will follow the trends of a currency and set trades in play to profit from the rise and fall of the currency. Trends are caused by macro and micro economics and a level of people sentiment too.
The forex market trades about US$5 trillion a day and is one of the biggest industries out there. The general public don't really pay attention to the value and size of this market.
All retailer traders will have a brokerage account - which is like your bank account. You will deposit funds for the purpose of trading. Retailers also connect their brokerage account to a platform called Metatrader 4 which is an online global trading platform which shares all the currency pairs out there that are being traded.
There are a set of major pairs which primarily are currency pairs like EURUSD, USD/JPY, GBP/USD, and USD/CHF. These are the major players and most retail traders will have one or all these pairs in their trading portfolio.
Trading isn't a skill we can learn quickly it takes years to be a good trader. It takes a lot of testing of strategies, testing of your own mindset and testing of your ideas. The facts state that 90% of new traders will lose all their investment within the first 90 days of doing trading by themselves. There is a lot of educational material out there to help with trading and a number of FB groups too. My personal route with this topic has been to do automated trading first so that I could learn and earn as I go and not waste my investment.
Automated trading is using artificial intelligence and professional traders to set trades on your behalf. AI is used now by about 80% of traders these days as it helps reduce the emotional side of trading and allowing investors to get into trades when they are not at their computer. AI with trading basically means the technology look for a set of trends and markers which help decide if the technology will set the trade or not.
The forex marketing is open 24 hours a day, 5 days a week and you can trade in any market through an FCA registered broker and the MT4 app.
Risk management and leverage are also key concepts to learn and consider when you start out trading as this will determine the potential profit and the potential loss. I always air on the side of lowering my risk management and ensuring I only trade about 1-3% of my capital in my trade at any one time.
A great place to verify traders and their technologies is a website called 'Myfxbook.com - it’s a great site for reviewing profits, drawdowns, history and trades in play for traders you are looking at. Its a space to analyze , get answers and ask more questions. The automated service I use has a link on here to review to help see the statistics of the trading tool.
Those are some salient points. If your son is keen to trade manually - have a look at www.babypips.com - there is some education there and some learning too which I use. If automated trading is something, he wants to start with so you can learn and earn then I can help with that too - as that is what my platform uses.
There are some points - I hope I’ve been able to make a few things clear. If you have any questions - just ask. Or if anything above is confusing, then let me know.
Trading is a good career to have but it does require a lot of learning, skill growth, commitment and time but if you get it right then it could be a good option.
I started this journey July 2019 and I wish I had started it so much earlier - its the one career choice that I do feel I have control over and feel I could achieve more money abundance even in this pandemic....but like all things we need to test, check, test, check....
Mootz became known as “the million-dollar granny” for her remarkable success in forex trading. She has since become something of a role model for both women and the elderly entering the financial trading sphere for the first time.
Her story really is inspiring.
I serve people who want their money to work harder for them instead of it sitting in the bank.