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Sam’s $20,000 Single Day Profit Experience
Written by: PaxForex analytics dept - Wednesday, 16 May 2018 0 comments
Hi, my name is Sam and before I tell all of you how I made $20,000 in one day I would like to give you a quick overview of me as a trader. I am not a professional trader and probably far from that. I am trading for over 20 years, but I can’t quit my job. Just because I am not a professional trader does not mean that I don’t earn money. I have been profitable for ten years now and earn on average 22% per year. Before anyone laughs off those returns, they are actually quite good and I do better than most professional traders at banks or hedge funds.
The reason I don’t quit my job is that I feel it would put too much pressure on me trading which will definitely lead to mistakes and losses. I would also have to reduce the quality of my lifestyle and there is no reason for that. I think that maybe in another 10-15 years I can comfortably retire from my job and my pension plus my income from forex trading will make for a great rest of my life. Right now my main goal is to continue growing my trading account. I am happy with 22% per year, I just need a bigger balance so that the cash returns will increase.
Now let me talk about this one day I had, it was a cold January 15th day in 2015. I am sure this day will sound familiar to anyone who is trading forex. Allow me to refresh your memories, it was the day the Swiss National Bank or SNB de-pegged the Swiss Franc from the Euro. This was a big surprise to everyone as just days earlier SNB President Jordan communicated that no change was on the horizon and that the 1.2000 level in the EURCHF would remain defended. This meant that the SNB would step into the forex market and intervene if the exchange rate dropped below it. Many nicknamed January 15th 2015 ‘Francogeddon’.
Once the SNB announced the historic change, the Swiss Franc rallied by 30% against the Euro intra-day. Most traders were long around $1.2000 as it was a sure trade since the SNB would intervene and push the exchange rate higher. After the announcement many forex portfolios were wiped out and even showed a negative balance with several forex brokers declaring bankruptcy. It
was a dark day for forex traders around the world. For me, it was one great day as it was the one where I made $20,000 which represents most of my forex earnings over the past 20 years combined.
How did I earn it? I shorted the EURCHF. I looked at the chart and there have been minor dips below $1.2000. We are talking about a few pips here. I went short at $1.2015 and was looking for a few pips below $1.2000 before closing my trade. I traded a much higher lot size than usual since the movement I expected would have amounted to 20 pips in profits. I didn’t dare to dream that the SNB would make their announcement. When I first saw the huge collapse I thought it was a mistake in the chart from my broker, but the news start coming across my desk and soon realized that this was a real event. When I saw my EURCHF net me $20,000 I took my profits.
I don’t believe that I will make this amount in a single trading day ever again, but once in a lifetime is enough for me. It helped me boost my account balance and probable cut over 10 years from my retirement plan. I do research and analyze my trades carefully, and this shows that if you do the hard work and are patient, that you will participate on those isolated events and profit from them. I remember that for the rest of the day I couldn’t really believe that I booked $20,000 in trading profits. I know this may never happen again, but it made me work even harder so that I can earn my next $20,000. Not in one day, but maybe in one year.
You may not earn $20,000 in one day, but learning how to trade pays off. You should not have a huge payout in mind, but rather focus on consistency. Earning a small amount every month, allowing it to accumulate and repeating it every month will increase your profits over time. Doing all the small things right over the long-term will give you a big payout. Forex trading is not about getting rich quick, but rather about being patient, smart and consistent. I can only recommend that you start your forex journey right now enjoy the benefits it has to offer.