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My journey growing my passive income: Forex copy trading
Dear passive_income redditors, For years I searched ways to enable me to earn enough passive income to cover my daily expenses. I have tried literally everything online I could get my hands on, not all of them being 100% passive. Matched betting and value betting for example made me a couple of grand, but were about 10 minutes a day and were not scalable at all since I got limited very quickly. Crypto investing made me some good money, but also a lot of stress since it was the Wild west in comparison with traditional investing and days could turn out to double your investment or half your investment. Besides that I purchased a real estate property partly from my job earnings and partly from my crypto realized gains and am starting to rent it out (I know, we can debate whether real estate is passive, but that is not the intention of my post). Things that lost me money were dropshipping businesses, Facebook ads, and a lot of other silly stuff. But I found a hidden gem to make passive income easily. Earlier this year, around March I came across copytrading within the Forex market. I started in April 2019 with a deposit of $5,000. Today, June 12th, it's worth $5,800+. On average I got a 7-8% return in April and May on my deposit. While this is immense, it's more conservative to aim for a return of around 5% a month. The idea is as follows: you copy the trades a professional and profitable trader makes by automating the process using optimal software. You pay a monthly fee to cover for the traders' signals and connect a VPS to these two. I'm not a technical guy at all so I pay a legit business 25% of my net earnings to set it up for me and monitor it daily. They also fix your account when errors appear once in a while with the software. This way your accounts follows a masters' account managed by this professional trader and just copies his trades automatically. The traders you can choose from have historical track-records. The one I follow averaged about 6.7% compounded monthly since the start of his account in 2015. Resulting in a total gain of about 1850%-1900%. This is a 19x initial investment in 4 years. By using welcome deposit bonuses that different Forex brokers offer, you could double the gain or halve the risk (something I definitely do). This method is 100% passive and there is no chance of someone being able to access your money since the trader that provides the signals never has access to your account. Your funds are between you and the Forex broker you sign up with. So you are at control of your money 24/7 and able to close trades whenever you want as well (not optimal to do). Is it too good to be true? If you think this, I can't blame you. I always read these scams of Forex people on social media and I've experienced different ''too good to be true'' situations in my life. But remember, your capital can't never be accessed and these people have track records. In the 9-10 weeks I participated now, every week was profitable. Highest drawdown that occurred was about 6% (which is only virtual). So don't take it from me, but try it. Keep in mind that the only downside is with a 5% return and the monthly costs of 75EUR you have to have a capital of around $5,000 to start with to be able to make good returns and let it compound up. TLDR: copied someones trades in the Forex market using automatisation software. Paid 75EUR a month and made 16% in 9 weeks without doing anything.
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