Mon. Jul 13th, 2020

My Money Magick

The Money, Tax and Law Underground

I just suffered 100% LOSS on one of my managed forex accounts

2 min read

At the end of May, I spoke about the SignalStart signal provider WINNER PROFIT MAX. I raved about how he gained 5000% in ONE DAY (no typo). I then quit following a trader with a solid 1-year track record and allocated all of my funds to this trader. This picture shows all:

I said Be Patient

Remember how I ended the May post saying “be patient”? Well, look at the kettle calling the pot black!!!

Key Takeaway Points

If you want to run after fast profits, only use a very small amount of capital.

If you notice, most of these people are starting with a VERY small amount of capital. In one recent case, a trader started with TWO DOLLARS and now has a 1-grand account. Losing two dollars is not going to make you jump off a bridge. I dont know what to do with myself. I could’ve done all sorts of things with that $500 I lost. I’m certainly not happy. But hopefully I’ve learned my lesson.

Diversify between super high-yield and normal-high-yield

Allocate larger amounts of capital to traders with long-term solid track records and MUCH lower amounts of capital to one-month wonders.

My long-term gainer is still going well

I’m going into my 3rd month with Serendipity Fortune. She’s profited 15-20% over 3 months. It’s not as high-yield as some of these other accounts. But she has been having her trade results audited for 2+ years and has yielded a huge amount over that time span.

I dropped my other long-term gainers

I dropped I Am You Banker because she charges $350/mo for signals

Recently this person has had some atypical drawdown. And some losing trades that apparently keep losing. I closed out with a profit but cant justify going back:

Note the plummet in equity recently

I dropped “10x strategy” because I wanted the fast profits from WINNER MAX

10x Strategy was dropped, but only time will tell if it was a good move.

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