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Preeti’s Forex Based Revenue Boost
Written by: PaxForex analytics dept - Friday, 21 September 2018 0 comments
After I finished high school, my parents took me on a trip around the world as a present for my good grades and as an inspiration to continue to do well in my studies. The hope was that I would excel at university and get a career started in the highly competitive world of finance. My father’s ultimate goal was to get me to work for the family business and contribute to its success. My brother already completed law school and is being groomed to head the firm’s in-house counsel while my older sister finished med school and is a doctor.
I am Preeti, and my destiny according to my father was to round up the family’s trio by entering the world of finance. The great thing is, that I was always interested in math, number and eventually in finance. Since our family business caters to international clients as well as domestic ones, my father steered me in the direction of the forex market. The reason behind this was that he wanted to open up a new revenue stream for the business and since we were transaction in all major currencies he saw an opportunity there.
As I was making my way through university I also studied everything I could about the forex market and forex trading. When I first started to study this topic, I was not aware that it is this comprehensive. The hardest part for me was to find quality material to study. There is an overwhelming amount of non-sense out there. I am surprised how many new traders believe and blindly trust the misleading marketing material. Common sense would tell you that you are on the wrong path.
Once I graduated from business school, I joined the family business and my father tasked me with finding a way to profit from our revenue streams in the forex market. I realized from the very beginning that automation in the forex industry is likely to become a major player. There are plenty of so called EA’s, electronic advisers, available for the MT4 trading platform. I looked deeper into the deployment of such scripts which basically execute a trading strategy.
The positives is are that it can run 24/5, together with the forex market and that no emotions are involved in trading. The negative are that no strategy is perfect and an EA is unable to
learn on its own. For that you would need to deploy much more sophisticated algorithms which use machine learning and artificial intelligence. Those systems can cost millions of dollars, years to develop and a decent team of researchers and scientists in place. Our operations are not big enough to warrant this type of investment.
I decided on a combination of factors to run our accounts. I believe in diversification across the board in all things life has to offer and the same goes to forex trading. It all starts with a good forex broker you can trust. I can only recommend PaxForex. They tick all my boxes from tight spreads to fast execution, great customer service and plenty of assets to trade. Fast deposits and withdrawals round up a great service. Being able to trust your forex broker is one of the most important parts of forex trading.
While I do work on my own trading strategy, this requires plenty of time and we are running a business which is expected to earn profits. The approach I chose is a combination of three EA’s while also taking advantage of one signal provider on top of the forex trading recommendations offered by PaxForex. Besides the EA trades, which are taken on autopilot, I add the other trades from PaxForex and my other signal provider manually to the account after I double check that the EA’s have not placed the same trades. This approach has yielded us over 3% per month in profits.
This has added a significant business boost as we earn more from our products and services. Part of the extra revenues have been used to cover our employees with health insurance and the other part takes care of their salaries. The freed up capital has allowed us to expand our operations which means that the average of 3% in monthly profits from our forex operations equal more in cash terms. It took us over seven years to implement this, but forex trading is now part of our diversified business. It is never too late to start adding revenue streams to your life, just head to PaxForex now and take the first step into a better future!