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How I made my first million with FINOCAPITAL

Why do some people almost always make money on the stock markets?

The process of trading on the exchange is usually called trading. Its main task is to make money on various financial transactions with currencies, stocks of large companies, futures and more. The Forex market is also related to trading. The main process of trading on the stock exchange is carried out through brokerage companies and autonomous brokers —  they are the ones who act as a link between the stock exchange and the trader. Naturally, the broker needs to pay commissions on their income.

In general, my wife hooked me on this way of earning. The wife was on maternity leave, and, in order not to get bored, to spend time with benefit and profit for herself and her family, she decided to start making money on the Internet. After a long search, reading all kinds of forums and sites with reviews, a broker was chosen. We opened an account directly on the site, credited money through WebMoney with some horse commissions. And they opened the first deal. As I remember now, it was a dollar-yen.

Very quickly, through our efforts and with the help of the forex broker itself, the account was reduced by a little more than half. The wife once caught the company of outright fraud, when the deal was not closed by take profit, but was later closed by stop loss. Frustrated completely, my wife abandoned this business and did not even enter her personal account. Six months later, I still persuaded her to come in and take the rest of the money from the account. With the same horse fees, the money was withdrawn back to WebMoney. After that, my wife’s interest in the stock market and trading disappeared completely. And I, on the contrary, woke up.

I decided to study all the intricacies of trading. I read books, studied the market, the movement of currency pairs, the reasons for the rise and fall of stocks. When I was ready, I started choosing a trading platform. I found out through acquaintances, friends, and scoured  the Internet. I chose the broker FinoCapital. They had the most advantages over other brokers. A wide selection of trading instruments, various types of trading accounts, the ability to start trading with a demo account, leverage and as a bonus – cashback. And the most important thing is the minimum commission.

I started with a demo account, I had to test my acquired skills. After a couple of weeks, I started with a minimum package of $ 250, made my first deposit and started real trading. The first deals were still with currency pairs, but this time they were USD / SEK, USD / TRY and USD / BRL. As it turned out, the most volatile on the market are exotic currency pairs, not major ones. From these trades, I took out about $ 1470, having invested only $ 250. Then I switched to a more expensive account, there are more options: account insurance, an individual manager and analyst, a deposit bonus up to 100% + a webinar on risk management, in general, a paradise for a trader. With this package, my deposit was $ 25,000.

Was I scared? I was terribly worried, I thought a million times whether it was worth investing such large sums at all. I have a wife, a child. I understood perfectly well that if I burned out, it would be the end. This was our last money.

Basically, all of my trades have been winners. I traded very carefully, based on market analysis, strictly adhered to the strategy, was always in control, did not trade in an agitated state and did not act under the rule of emotions. Occasionally I listened to the recommendations of the manager and analyst. I used all the rules of money management. Here are the main ones:

  • Do not increase the volume of the trade by an amount that is 10 times the original volume.
  • Get away from big losses.
  • The optimal amount of losses for one trading day should not exceed 2% – 5% of the deposit amount. These numbers should be used as a guide when using stop losses.
  • Try to make your profit 3 times bigger than your loss.

Following these rules, in three months I reached the first million.

How I made my first million with FINOCAPITAL

“Fraudulent brokers” are not always to blame for draining funds. More often the trader himself is the reason for the loss, subsequently the lack of basic knowledge and understanding about the stock market.