[With Proofs] How I doubled my $10 in 5 mins and then lost them all
Went up to $23 & you can do it too — No Joke
Typically, profitability in business is 10–30 percent or even more (sometimes), But I made more than 100% profit. This is not a guide on “Make Money”; However, it’s a story based on my personal experience. To be noted, I am not promoting any apps or any brand.
I was able to (more than) double my investment through Forex.
What is Forex?
Forex, foreign exchange, is a market where the currencies are traded. For example, “EUR/USD” is defined as how much USD is needed in exchange for 1 Euro. It has the potential for high earnings. I believe when trading Forex, the currency is to be considered your asset.
“Trading without any knowledge or signal is equivalent to gambling”
My currency, strategy, investment & profit
There are probably three currencies when you think of the “best”; the eternal USD, Royal GBP, and Euro. I choose “EUR/USD” for my fortune. I used a Japanese candlesticks graph (5 minutes) and Bollinger bands for a better statistical view. My initial investment was $10, but with a 50% bonus, there was $15 in my wallet. I was blindly playing with my dollars and lost that $5 bonus, and then I found something called “Forex Signals” that tells you the forecasts. After much research, I found a Forex veteran named James Hyerczyk, who writes about EUR/USD (& many more). This man proved to be life-changing for me. Just another day, it was the start of Feb when I invested (with 500x leverage). After reading a review article on EUR/USD by the respective author, the graph spiked and kept going up. A meeting at the European Central Bank (ECB) made this happen.
My $13 turned into $24 (approx), but I thought it might go up further, so I didn’t close the trade; unluckily, it came down to $17 and then $14.5. I suddenly closed the trade at $14.5. Moments before “1.13” Euro went up to 1.14, which could have quadrupled my investment. I thought that after the Euro came down, it would increase again and staked my whole investment ($5 x 3 trades), but unfortunately, it came down, and I lost all of my money.
The best method for trading Forex
I accept that I played this blindly; I used the “played” because it was equal to gambling (as I mentioned above), and it was my stupidity, but that’s how I learned the lesson. Additionally, veterans suggest a method for trading forex, “The 10% Method”; Stake 10% of your investment, i.e., $1 is the 10% of $10, and use $1 / trade. If you are a newbie, use the least possible leverage until you have a guaranteed signal that the currency will go up. More leverage means more profit but greater risk and vice versa.
My Verdict
I deposited $10 three times and lost them all; I already mentioned the “How” and “Why” of my loss. I think if you are a newbie, a student with low pocket money, if your parents can’t afford any extras, or you don’t have enough money to start any sort of online business; even freelancing costs initially, i.e., for graphic designing, you have to buy Canva premium, that costs money. If you are hand-to-mouth, this can prove to be the headstart of your “Make Money” career.
Above is the leftover of my 3rd $10 investment amount, and I am considering investing 4th time, a $10 deposit again.
“Try and fail, but never fail to try” — Jared Leto
Bonus Tip: If trading Forex, keep an eye on the economic calender, according to your currency.
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[I write article-lengthy topics in the shortest stories possible (usually about money & startup). “Lesser Commercial, More Informative”; You may follow me & join my email newsletter.]
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