Categories
Forex Investment

I Won $500 from a Contest on Facebook!

If you’re a friend on my personal facebook account, you’ve probably noticed or even wondered why I suddenly changed my display name to my real full name. And that is because I joined a contest and one of the conditions was to use my FB account with my real name.

Here’s the full story…

A day before I attended MTrading’s Forex Seminar, I visited their official facebook page and saw a post about an ongoing contest. I never joined any contest on facebook before but this one made me curious and so I gave it a try. I checked out the details and found the mechanics to be pretty easy…

  • Post a trading advice and share it. Whichever comment gets the most likes by the 18th of August will earn $500 on their trading account!

Without any further-a-do, I posted my “advice” comment to their page and waited for the other members to like it. I also invited a few of my FB friends who were online to like MTrading’s page and of course my comment.

I checked the page from time to time to monitor my likes and the others’ too. But it seemed like the other members who posted their comments weren’t exerting as much effort on the contest. For a week, my comment remained on top of the page for having the most likes.

It seemed like I was the only one interested to win. I didn’t know if the $500 prize seemed too good to be true that’s why the other commenters were kind of skeptical about it. Or maybe $500 is not a big deal to them. But for me it is.

I continued to monitor my likes until the last day of the contest. I even thought others would invite their friends to gain more likes but to my advantage, nobody got more than mine. I ended up having 22 likes while the one next to me only got 4. I could have more if my competitors showed their willingness to win. But they didn’t, so in the end, I was announced as the WINNER!

I still could not believe that the prize was real but when I received an email from MTrading and when I checked my trading account, voila! My $500 prize was already credited.

Even with certain conditions applied (like I can only use it for trading purposes), I am still very happy to have won in the contest. It’s such a surprise bonus! 😉

It’s not much but good enough to fund my forex trading account. At least I don’t have to worry now where to get my funds from to start my forex venture. I’m not confident in forex yet but I’m already practicing using my demo trading account. If I get any better, then I’ll go with my live account and use my prize funds.

Thank you MTrading for this opportunity!

Featured Image courtesy of MTrading.

Categories
Investment Stock Market

My Stock Experience on BLOOMberry

6/4/2014

After putting BLOOM on HOLD for more than a month, I finally decided to sell it today.

I first bought BLOOM on April 29, 2014 at a price of 12.22. At that time, this stock was consistently moving up based on the historical data from PSE. This was also my first day in trading so I was a mere speculator. That same day, BLOOM recorded its highest price in a 30-day period. So it was on its peak when I bought it.

A day after I bought BLOOM, the price even went higher and reached 12.52. The highest so far, from the April 24 to June 4 data.

I already wanted to sell it the next day, but I thought it was going to strike even higher so I held it for the meantime.

Then the trend changed from being upward to downward then eventually sideways. At some point, I bought more volume when the price was starting to go up again. That’s when it was at 11.72. I did this to lessen the loss from my first purchase and have a lower buy average. That is 12.22 + 11.72 = 23.94/2 . It gave me the average buy price of roughly 11.97. However, it continued to move with the same trend for the entire month of May. So I was stuck. I had to put it on hold, otherwise it wouldn’t be just paper loss.

I continued to monitor BLOOM’s price movement and I hated to see that it has since been red on my portfolio. It was stuck at almost 10% loss and I couldn’t use the capital for further trading. The value was depreciating and I realized that I had to cut the loss now or I might lose more.

From 10% paper loss, it went down to around 7% and that’s when I decided to sell BLOOM at a price of 11.46.

Yes it was a loss for me, but I have learned to accept it even when it was at its lowest price because I knew that this is stock market and I’m aware of the risks of what I’ve gotten into. In fact, I felt more relieved because at last I’m out of the red numbers and I can use the capital for trading again. So, no BLOOM for me for the meantime.

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UPDATE:

As of today, July 28, 2014, Bloom’s price is at 11.46. It was down for few weeks after I sold it. But it’s good to see that it’s slowly recovering now and has even reached 11.68 last July 22 which was the highest so far in almost 2 months.