How can 30,000 USD become 2,000,000 USD? Read below to see how an easyMarkets trader did it.
Over the last few months one of our traders joined the millionaires club, earning and withdrawing a whopping 2 million USD from his trading activity (and according to his account manager is working on his 3rd seven figure return at the moment).
And we’re sure you’re wondering: How did he do it?
Surprisingly he started out his first three months losing. Many people new to trading quit after a string of losses, but this client used the setback as an opportunity to grow, learn and ultimately become better. You could say a million times better – please excuse us for the bad pun.
Starting fresh with 30,000 USD he slowly built up his account.
Two months later he not only bounced back from his loses but also began to approach his first seven figure return.
The client’s sweetheart currency was GBP which at the time was moving significantly because of Brexit volatility. His account manager noted that this wasn’t the only currency he traded but pivoted depending on technical levels and news that affected the markets. Furthermore, his strategy was mainly a long term one, buying pairs and holding them until they earned a profit.
This trader was also very careful with the size of his trades, making sure he always had enough margin to avoid his positions being closed by stop-out.
There are other factors that contributed to this client’s success – timing. We saw a lot of volatility towards the end of 2018 and the beginning of 2019, due to uncertainty surrounding Brexit, U.S.-China Trade tensions and fear of economic growth slowdown in 2019 (to name a few). Second, this trader took advantage of both long and short term trends, uptrends and downtrends.
His account manager pointed out the most important parts of this client’s strategy: generous margin, patience and of course calculated trading. This client always had enough margin to weather momentary dips and avoid margin stop-outs. This allowed his positions to stay open and recover but also take advantage of the next beneficial trend.
Today our Millionaire Trader, has a more than a million-dollar balance and liquidity surpassing 1,500,000 dollars.
We would like to congratulate our trader for succeeding and thank him for continuing to trade with us.
OnsaFX, a regulated, global & zero-commission broker, is strengthening its presence in Africa by preparing to enter the Ghanaian market.