Plus 500 VIDEO REVIEW

WRITTEN REVIEW:

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hey everyone it's vince here welcome back to another video ladies and gentlemen today marks the start of a new series here on the channel on my personal journey with the trading platform plus 500. now if you don't know plus 500 is a contract for difference trading platform it's the only one that i really use here in australia because that's the only one i really know now you're more than welcome to use whatever trading platform you have in your country but for the sakes of my knowledge and all i really have tried i'll be using plus 500 for this little experiment of mine.

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now this is probably going to be the most riskiest of experiments i've done on the channel so far essentially my goal with this series is to show you guys the ups and downs of me trying to grow 200 into hopefully fingers crossed a considerable amount of money all right and i'm hoping for four digits here ladies and gentlemen at least i just want to make it clear though everyone this is not my financial advice of any sort i literally am just showing this for educational purposes okay don't follow along with my trades just watch and entertain yourself with my adventure either i'm going to lose this 200 or i'm going to make it into some good money hopefully.

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by the way everyone i've lost so much more money than i've ever gained on contract for different trading especially when bitcoin crashed around 2017 at christmas time ideally with my trades on this series i'm going to try and stay in the market for as long as i need to be then i'm going to get out which you'll see in this video as well i don't stick around long term with contract for difference trading because it exposes me too much to the fluctuations of the market i hope you enjoy by the way please remember to like and subscribe drop a comment as well giving your support for the series and hopefully you can see me grow this money into something nice.

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now let's kick off my first few weeks of trading here in october of 2021 the thing about contract for difference trading as well ladies and gentlemen is that you're allowed to have leverage but the problem about leverage as well is that people leverage way too much than what they actually can afford in their account balance so let's say i have an account balance of 200 right that's the equity 200 of my whole account then i want to leverage it for about 1 to 100 ratio essentially any type of small movement on that market is almost guaranteed to liquidate my whole account aka wipe out my whole account balance if it goes in the wrong direction by even like one percent or so overall for that day that's why you really got to be careful with leveraging on these trading platforms everyone of course that was a rough estimate of one percent but you guys get the picture don't leverage more than your account balance can actually withstand because with contract for different trading you're paying the difference in price from when you open that trade up so you better hope when you open a trade that price either rises or falls depending on what way you've opened your trade i personally like to buy and short markets it doesn't matter to me if they're indices or commodities or even 4x if i like the way the chart is moving.

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i'll make my estimated guess and hope for the best with the knowledge that i have both on the daily news especially if it's an indices you need to at least educate yourself because these platforms will give you the leverage to really risk your money for great rewards but also at great risk as well so please do your research before opening up any trade even without contract for difference you don't want to waste your money everyone and i'm telling you now contract for difference trading is definitely one of the best ways to lose your money if you do it wrong now i rely heavily on stop losses and profit calls for the type of trading that i'm doing throughout this series on the screen right now you're going to be seeing my whole trading history for the 1st of october to the 22nd of october for 2021. now what you'll notice everyone is that there's a lot of lost calls the reason for this is because my stop loss was actually set to the point where i opened the trade up essentially this was to guarantee a safety net to make sure if a trade did not go in my direction it would close it straight away to reduce the chance of me losing any money whatsoever the problem with setting up a system like this as well.

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what i fully accept is that you are not willing to accept the fluctuations of the market so many times when this stop loss went off whether i bought the contract or i shorted the contract the market would fluctuate and then hit that stop loss but then it would go in the direction that i originally thought it was going to go in but because of the stop loss i'm actually not in that trade anymore so none of it mattered that's the risk that i'm willing to accept for this series to make sure i do the safest trades that i believe i can do to make sure i don't lose that 200 now the first what i would consider profit that i made on a trade was on a put call on a us tech 100 contract now the thing is everyone i read on the news for that day that eu lawmakers were trying to say that american tech companies should be more regulated now this caused a slight slip on the us tech market because of this news and i figured you know what i can read the graph i can see that there's a slip happening.

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let me see how long i can ride this thing out for so i applied my put call aka the short call and i managed to get 96 worth of profit on this call which i was very happy with because that's almost a 50 increase from when i started of 200 now my next trade that generated me profit was on the us 30 wall street this is apparently 30 blue chip companies now the thing is everyone i thought that there was going to be a rally because the day before the dow rallied up by 300 points and i figured judging by the charts this rally would still continue to a certain point so i entered myself into a three and a half hour trade and got to around 25 and close the trade i was happy with that profit because it only took around three and a half hours so you really cannot complain with that by this point we're over a hundred dollars already with successful trades so my final trade that generated me around eight dollars of profit was on the chinese economy on plus 500 it's called the china a50 this is the top 50 companies i think in china i'm assuming judging by what they're saying now when it comes to trades like this especially on a very volatile market right now.

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i figured that there was going to be a major slippage china was talking about war with taiwan and having issues with my country here in australia and judging by the charts their economy really was not going too well recently so i figured they had a recent rally i'm sure a slippage would happen soon and then eventually it would equal out again but what ended up happening everyone this trade ended up taking me 11 days to close so i was exposed to the market way more than i wanted to be at some point i was about 30 or 40 dollars in the profit but then in some other points i was deep in the red what ended up happening is china actually had a very good week of exports and holiday sales that ended up rallying their economy.

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 i was shorting their market everyone so this was very bad news for my trade i ended up getting to a point where i was way too scared that this trade was going to go wrong and thank god i did pull out when i did because their economy ended up rebounding heavily and it would have completely pretty much wiped out my account because i did not set a stop loss for this trade initially so i eventually set a stop loss for eight dollars a profit and it was executed and it saved my trade so i'm so happy for stop losses and take profit markers.

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so after all that was said and done everyone we made around 135 dollars worth of profit on plus 500 over the span of around 21 to 22 days now i definitely cannot complain with that i feel like this way of safe trading even though you really don't earn as much is way better than just risking it all on one single trade with high leverage so i'm going to keep experimenting with my trades and show you my journey i really hope you enjoyed today's video and i hope that i opened your eyes to contract for difference trading and how right it can go but then how wrong it can go as well as i said everyone do not do this unless you're very educated with investing and stock charts in general i cannot wait to see where the series goes this is obviously not going to be replacing my regular content what i thought would be a nice addition to the channel stay safe out there i'll catch you all in one to two days see you next time.