Have you heard of online trading? have you seen those weird looking red and green graphs here and there! You might have heard of Sensex, nifty, Oil, Commodities and indices blah blah blah! Well, these are the things which we call online trading. The simple example to understand online trading is here.
Assume that you bought $1000 for INR 60/dollar. After some months, you came to know that the rate has faced a change to INR 66/dollar. So you decided to sell your $1000 for INR. When you end up selling the INR, you’ll be making an INR 6000 profit! That’s trading! But, think of the other side, what if you go loss? you’ll lose another 10k or 20k.
The trader is here
I really liked the opinions of people who were trading since years with USD/GBP and OIL etc. They used to write articles about their success that they made $1m in just a month time etc. I became fascinated after reading all this and I decided to try out online trading.
The first thing I did is googling and markets.com came to my views. I registered a simple account on markets.com and the marketing team started calling me. The guy who named “Akeem” called me for around 3 times to convince me to invest in markets.com and start online trading. He was a Sri Lankan guy and he was so nice to me. Whenever I request a callback, he used to call me and we used to discuss all this. He was my personal account manager from markets.com
Finally, I invested $100 at first and another $100 again to see how things work. The starting was awesome. I made $100 profit on the first day and $150 on the second day. The trading is closed on Saturday and Sunday.
Believe me not, I made a whopping $667 profit within 4-5 trading days. I used to trade each and every second and I used to kill my sleep to trade hard. But the problem with my side was that I used to take big risk. I used to put all the eggs in one basket and that made me killer failed trader.
$667 = INR 44048 (INR 8809/day).
Caution : OIL is Slippery
I used to trade OIL rather than these currencies and other commodities. OIL was not at all consistent and OIL made me a lot of profits in a very small short span of time. I used to make $50 profit in just30 minutes at times. A sudden increase in my profit was just because of OIL and none other made such big changes. If oil is dropping, its going to be a great drop and vice versa (that was the situation)
Take a look at these screenshots.
I lost all my $867 within 30 minutes time because “OIL had a serious hike“
Suppose if we are sure that oil is going down, then we can sell it! So as it goes down, we will earn good profits. I ordered around 600 barrels of OIL and this shit started going up like never before. The margin level became less than 20% and I lost everything due to automatic closing.
Sorry that I won’t be linking to markets.com from my blog and I won’t be sharing any of my affiliate links even If you’re planning to join markets. They are good and they take good care of their customers only when the customers wallet is having good money. This shitty guy so-called Akeem called me more than 10-20 times when I had enough money to trade. After losing everything, I was planning to invest some more money and I requested a call back from Akeem. He never called me yet, not yet! So I’ll never suggest you to go with markets.com and I’ve heard that trading currencies other than INR are kinda illegal in India. So be careful before going into it. I used to trade with OIL and yea OIL is riskier than anything. I’m suggesting you the Axis Bank Direct (It’s an online trading platform) which is kinda good for Indians.
What I’ve learned
I was not much sad in losing that money because every time I lose something, I learn many things! I learned to face big losses and the fear of losing is no more. I learned a lot more about online trading and in future it’s seriously going to help me for sure. If you’re interested in trading then I’m requesting you to play safe by analyzing the market a lot. Well, I did analyzing a lot but still you need more. Cheers! 🙂