Hello everybody! This post is very special, because it represents the beginning of three things:
- This is the first post I write after I moved the blog from one host to another (and I had lots of things to configure and still have a long open task list)
- This is the first post I write as a monthly Statement update in one year. I think the last one was in January last year. We can even have a throwback here
- This is the first post when I will proudly say I have a gain from FOREX.
If the other points on the list are pretty clear, I want to talk and elucidate a little the last one. On the date of 5 February, I cashed in the first withdrawal from FOREX. I was mostly curious how it works and what commissions I have to pay before I can spend the money so I decided to use 100 well earned USDs, for research purposes of course.
The money arrived in 2 business days in my account and I was free to use them as I see fit (I will have to pay my taxes at the end of fiscal year, which is March 2022, but is a long time till then). And how did I see fit? Do you remember my article about Credit Cards (if not you can read it here)?
Well I used the money to pay in advance the Credit Card. Not only that I saved the money from my salary I was going to use for that, but I had the best feeling ever. It was the first time I paid a debt with a revenue outside what I do for a living.
Maybe is time I will help you a bit to interpret all the graphics you find on the system page of our FOREX account .
The total profit of January was for 360.36 USD and that represents almost a 25% gain in our account balance. If you can look on the front page, you will see how the Balance (the total we have in account) and the Equinity (the balance minus open trades value), are on an uptrend and closing to each other.
In February 2020 – October 2020 the gap between the two is very big. If you followed the category, I think I mentioned we had around -900USD in floating positions at an account of 1.2-1.3K USD.
At the end of last week, I was down 233.65 USD, to brake even with the account. It means that soon, in 233.65USD profit, I will finally recuperate all the loses since I create the account and have the same value as the deposits made.
If you look at the end of the period, where I marked the small blue lines, there is the withdrawal we just made! In value of 100USD.
And I think this is a good beginning of the year, hope to keep it that way. You will probably have a negative report for February and we will see in the monthly statement update, but it is not to late to recuperate the loss and finish on green.
Thank you all for being part of this community!