The very first contest hosted by MutualFundPhilippines.com have ended unexpectedly too early. A winner was announced before the Forex Market closed last week, Friday June 29.
The winner have successfully gained 30% from the trading account equity during a 4-hour trade. Whew! That was fast. Whether or not that was a beginners luck, I think we have somehow met the objective of the contest, that is to introduce FOREX to the contestants.
The participants of the contest were mostly first-timers in FOREX, including the winner.
Here is a word from @hana-abello, our winner.
I found out about the Mutual Fund PH website in one of the Mutual Fund FB pages I’ve visited out of boredom. I’m a newbie to MFs, and have only recently started investing last April, which explains why I was looking around for online sources to enrich my knowledge on MFs. It was actually the contest post that got me to visit the Mutual Fund PH website. I immediately signed up and waited for the mechanics.
I got to read the mechanics one day after it was released. I found that it would take some time to break into, and I delayed signing up for my own eToro account. It was only, again, out of boredom one Friday morning that I decided to re-read the mechanics and try Forex for myself.
At first I didn’t understand anything, it was frustrating! There was pip and spread, and many other terms that I didn’t bother to look up anymore, because I was too engrossed with every minute fluctuation that was happening. I didn’t even know about copytrader back then and didn’t bother finding out about it til the end of the contest. I can say that I won by sheer luck, simply because I had very little understanding of the Forex system. I won, and I was ecstatic.
After the contest, I realized that the more I didn’t understand, the more I wanted to learn about Forex. I decided to read more about it, watch tutorials and videos on Youtube, and now I have a little more understanding of those terms that were once foreign to me. I wanted to apply the stuff I learned until I realized, it’s weekend! No trading, darn!
So excited to start trading for real. This contest showed me hope for a new investment opportunity. I even got my boyfriend to take interest in Forex as well, and we’ll both be trading starting tomorrow.
Thank you, Nick Raquel, for the contest! More than the $50 Trading account, your contest taught me about Forex, how easy and hard it can both be, and how a newbie can break into the world of Forex trading.
And yes, the contest was a success on my perspective. I’ve enjoyed every minute of it. I honestly thought that nobody would participate, but guess what, several members did.
I had so much fun that I plan to do this again. Watch out!
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