One day last year I made a quick $70 with just a couple of minutes work. It’s time to tell you about this “day-trading” experience. Before I start I should tell you that I’ve had an account with Plus500. I’m sure many of you have already heard from the platform. When Googling for “what is Plus500”, it gives me this:
Plus500 is a company providing online trading services to retail customers. The company was founded in 2008 and provides trading in CFDs on a range of financial markets.
This basically means that you can use their platform to trade in currencies, stocks, commodities, cryptocurrency and others. At the time I had used their platform for a while with a Demo account (which is free, and you can “play” on the market to get familiar with it, without losing – or gaining – any wealth). After I’ve been doing that for a while, I upgraded to a “real” account and one day…
Well, it was not just any day, it was November 8, 2016! The day that Donald Trump was elected. I was driving to work (Central Europe, so a different time zone) while the votes were being counted in the USA. The news radio that I was listening to told me that it seemed that “The Donald” was going to get the majority of the votes, and the dollar immediately plummeted in value. After about half an hour, there was a new financial update, stating that the value probably over-reacted (sounds fair…) and that is when I decided to buy US dollars (USD/EUR value pair) as soon as I would arrive at the office.
I logged into my Plus500 account and bought some – I can’t remember how much – dollars using a lever construction. Within a couple of hours the price crawled back up, I made a quick $70 and I sold the dollars again.
All I needed was:
- My trading account;
- Some luck, by listening to the radio at the right time;
- Decision making based on what the financial experts said on the radio;
- A couple of minutes of my time, to make the trade.
This was my first (and for now, only…) day trading success story. Have you got any? Leave a comment so myself and others can learn from it!