My answer to: 'Losses after more losses? Why are you getting people to sign up to this? Scam. By Mr. A Pessimist!'

So, this title is inspired by a comment I had on a post from an Mr. A Pessimist. 

I’d like to thank them for their comment because its comments like this that help me drill deeper into helping people see the power of automated trading service for those that are truly skeptical, like Mr. Pessimist.  His comment reflects probably a large percentage of people who remain skeptical of other ways to earn an income outside of the traditional l banks, saving plans, pensions and financial tools. All tools I have in my financial kit too because they are worthy services.  His comment also reflects the negative press forex trading gets which is heavily created by the ridiculous claims that are often shared or people with images of fast cars and tonnes of money.    So, I respect his opinion and I hope that he finds the answers he’s looking for. 
 
The opening sentence was ‘Losses after losses?’  They punctuated it with a question mark, so here is my answer.
In this year of trading I’ve had 2 losing weekly moments.  They just happen to coincide with one another in the same month.  The first one was the US General election (US$31) and then I lost my profit earned from the month of November (US$141).  At the point of the loss my profit was actually up at US$119 so it had been a great month.  This loss was caused by a technical glitch which has now been resolved.  IX Global worked super hard to turn this around and given that I know the teams I was pleased to see the action taken quickly and the communication of the error being spoken about. There was nowhere to hide so it had to be addressed with the many IX global customers.  A bit like when TSB had  IT issues with customers bank accounts.  Technical glitches can happen. 

What I lost was profit not capital.  In my opinion that money was not real to me unless I had wanted to withdraw it from the account.  What I lost in Noember was a percentage gain which equated to 3%.  Overall, since my account started I have earned well over 50% over and above my capital.  Which is far more than my bank or current retirement plans are earning me.   Yes, forex trading is riskier, but the returns are far more lucrative.  If you can be emotionally detached from your trading, then you are 80% there.  Initially I was bothered by the loss, but when I put it into prospective, I found calm in my head.  My rational:

1.  Its 3% of the account.  When I’ve gained over 50%, over the 2020 annual period. We must look long term when we are trading.
2. Forex trading is risky.  You must know that and be prepared for what could happen and learn to detach yourself from the trading activity.  One of the pillars of trading is ‘risk management’.  The majority of the time we ahve really good weeks but we must be prepared for weeks with losses.
3. Trust the team doing the trading on your behalf.  It’s in their interest too, to have a successful algorithm and decision making otherwise their business model isn’t worth it!  Get to know the brand and the team.  Look at their historical results. It doesn’t guarantee future profits but it’s a healthy insight into the phycology of the company.
4. I lost profit, not capital. I’d be more upset if my capital investment had been compromised.

Their next sentence: ‘Why are you getting people to sign up to this’.   Also finished with a question mark, so here is my answer to that part of the question.
Through my blog I’m sharing my trading journey.   I openly share my results, learnings and answer questions so that those curious can get a real picture of what its like on a weekly basis.  I remain open, honest and transparent about my results because at the end of the day this service is riskier than guaranteed profits return you would get through other financial tools and I want people to see if for what it is. 

This is also an industry that is completely alien to a lot of people who have been taught that we should be saving money and using banks, ISA’s and retirement tools that guarantee income.  These tools offered by banks and financial institutes also use the forex markets to make money from your money invested.  They are doing it, why can’t we!  Deutsche Bank is the world’s largest foreign exchange dealer with over 21% in market share.  Another reason I hear often is forex trading is just for the rich people and not acceptable to the ordinary person in the street.  Its not acceptable to the ordinary person in the street because its not offered to them as an option. Its also presents itself as a walled opportunity.  Only open to those that are math whizzes and those that have a ton of time to read charts.  Automated trading gives you an option to tackle these two issues and get yourself into an industry which could make you a good return!   People make their own decisions based on their own due diligence if this is right for them.  I share my journey as evidence of what automated forex trading can bring them.
 
The last word, ‘Scam’.
Well that is an opinion and if I’m part of a scam then I’m very confused by the success and results of some of the other IX Global customers.  I’ve connected with many customers to share forex questions, insights and experiences. Each week these customers rave about their returns and share the glory of their money growth because they are more than delighted with the results so far.  I see them posting their results on Facebook and happily express to world another great way to earn a passive income and really feel money abundant.  IX Global is changing people’s lives and that is exciting too watch and see.  I’ve also been a customer for a year now and if I hadn’t been seeing my capital grow, I would have stopped this journey a long time ago.  Its been worth it and I’m very excited about 2021.
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Mr. A Pessimist, thank you for your comment and thank you for helping me think about your post and adding more clarity around the opportunity for forex trading. Its been a pleasure.

Merry Chirstmas to everyone at IX Global, all my forex friends and Mr Pessimist!  

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These are my own results, learnings and experiences.  Before forex trading do your own due diligence and answer you own questions.  Returns are not guaranteed and any capital is at your own risk.