My Forex Trading Experience (III)
Dear Forex Traders
My life changed when I get familiar with Forex market.I can remember when I start Forex Learning the Metaquotes platform was Meta Trader 3! My first real broker was GCITrading and my second Forex broker was Cradlewood and now you know them with FiboGroup name.
As I wrote before, trading Forex was my life, all my life was the Forex charts and Forex news websites and trading.Here I want to write about my experience about trading on the CFD’s after the economic crisis on 2008.
In 2008 the world faced with the biggest financial crisis.
What happened in 2008 in Forex market and other financial markets?
We are faced with huge, fast and no predictable price movement all currencies symbols like EUR/USD, USD/CHF, GPB/USD, USD,JPY and the others Forex currency symbols moved madly !
For example on EUR/USD we had about 100 pips daily movement but in 2008 during the world economic crisis EUR/USD had more than 300 pips daily movement!
All world faced with a big financial crisis theGold, Oil, Europe stock, japan stocks and USA stocks prices had gone down .
I lost a lot by trading on Oil and I wrote about this experience in the other article any how I was a Forex trader then I must earn profit again!
When all stocks went down I decide to buy the most famous stocks on the USA market to then I analyses all stocks charts and I found that, we have a very good opportunity to buy some stocks with a minimum risk and high return
I decide to buy these stocks the AIG stock (American International Group) and General Motor, Ford and Motorola. Why I chose these stocks because all of them went down below 5$ especially general motors and AIG went down below 1$!
Well it was fantastic opportunity to buy stocks in Forex Market.
I just wait and bough myfavorite stocks on the minimum prices.
On July 01, 2009.AIGhad a 1 for 20 reverse split, meaning for each 20 shares of AIG owned pre-split, the shareholder now owned 1 share. For example, a 2000 share position pre-split, became a 100 share position following the split.
After these split AIG price where go up to 20$ it was a very good profit for me but what was my mistake?!
I close all my stocks when my money doubled! I wait about 4 months to earn huge profit but on first market movement I close all my stocks and in fact I lose a lot of profits in my trading.During your Fx trading maybe you are face with same opportunity again when the market go down or up more than normal range you should just wait till the market get slow then it’s the best time to enter the position.
Author: Mohsen J. From PipSafe Team
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