4 mistakes and how I still made $34k off currency markets this year

I´ve always thought, “why should you be married to the US dollar JUST because you are American?”

Here´s the test, are your savings in US dollar (that includes stocks, bonds, US real estate)?

Do you get a steady income in US dollars?

If you answered YES and YES, then look down at your finger bro, you married!

So that´s what attracted me to investing in foreign currencies and precious metals.  There´s many ways to do it, I trade through Everbank, an FDIC insured bank out of Florida which has the option of accounts in foreign currencies.  They are also the official sponsor of the Jacksonville Jaguars.

Over the last year since Mr. Trump got elected we´ve been blessed with VERY volatile currency markets.

Remember when the Euro was about 1 to 1 on par with the dollar in March, 2017?

Now, the dollar will buy you about 20% less than that in Europe.

So, why not profit off these currency movements?

Over the course of 2017, my first full year trading actively online I´ve messed up a lot, still made a bit over $30k, but could have made a lot more.

Here´s how my strategy has changed as I gained more experience…

I started out 2017 with the strategy… GET the HECK out of the dollar.  MISTAKE. (The dollar still has it´s place in our financial system.)

Then, by the end of January 2017 I realized I wasn´t going to make any money unless I sold, so I became Mr. day trader… MISTAKE.  (Stress!  And I often was too quick on the trigger.)

Then I decided I was going to hold all my money in the currencies that offer the best interest rates (at the time making around 6-8% annual but are now making around 4% annual) and make a bunch of money passive each month. MISTAKE (All the interest-bearing currencies move together and I couldn´t stomach the price swings.)

Then I decided I was going to diversify my portfolio right then and there. MISTAKE. (Diversify with time and patience buying only when the currencies are a good price.)

And yet through all these strategy changes on the fly I still came out about $34k ahead of this time last year.

So now, my new and improved, revised strategy after one year in the game is ALWAYS buy right, play world events, hold a basket of currencies long-term and play metals in the short term (they move a lot and I´ve found are a bit easier to predict in the short-term).  

Of course, your risk tolerance will influence your strategy as currencies can move QUICK in one direction or the other but I suggest getting in the game and divorcing yourself from the US dollar!

And yes, it is something you can do easily from Ecuador.

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Journeyman Jack Ecuador

Proudly serving Ecuador Expats since 2008, My Services, web links, contact info tel. #'s - US, CAN & EC. are all below: Thank You, Jack Abercrombie, Cumbaya, Quito- ECUADOR S.A. [email protected] [email protected] #StrategicRelocationEcuador "May your strategy be as dark as night and as swift as a boulder rolling down a mountain." ~ Sun Tzu "I'd rather prep 10 years too early than 10 minutes too late." Strategic Relocation Ecuador: http://JourneymanJack.com/ Ecuador Real Estate: http://EcuadorRealEstate.org Call Toll free from U.S. & Canada: Mnts: 770-828-7913, & Coast: 770-988-4492, EC. Off: 02-380-4088, Ec. Cel Claro: 098-828-8953, WhatsApp, Zello, Telegram, Viber, Signal, WIRE, Element, Sessions: +593-98-828-8953, For Virtual Real Estate Tours, PreTrip Planning Video Conference via Zoom, jitsi, "skype" user name: "Jack.Abercrombie"- https://join.skype.com/invite/B4plcVLSCGWk Someone once said that Ecuador is a country that is: •EASY to love- •HARD to understand- •Impossible to forget- 'All the Very Best on Your Endeavors in Ecuador-