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Suicide and forex

  • Post #41
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  • Edited 10:15pm Jan 15, 2018 9:53pm | Edited 10:15pm
Quoting goose4
{quote} Yeah that guy is correct A quote from him > Are you saying you make a living trading RETAIL FOREX, month after month, and have done so for the last 5 years at least? Sorry, but I don't believe you. According to official brokers stats for a period longer than 12 months, 99.6% of people trading RETAIL FOREX lose money in this scheme. (Almost identical numbers as in Gambling). Nuff Said. What helped someone to be profitable? Just quit trading and work in a real business, selling a real product or service. Retail Forex Trading is a Gambling...
Yet you're all here...

Gamblers lose because the house has the edge. Traders win if they know what an edge is.

If someone is gambling to get rich then they'll lose and have far better odds at a casino playing poker. No one has ever disagreed with that. If they're trading to play the game... That's a different reality. I have no reason to scare traders out of their money. The money is meaningless to me.
"The fun is in the hunt. Not the kill."
Quoting Liquidsnake
...pretty disturbing people.
This is disturbing but I don't think that rate is significantly higher than in any other profession. But if someone is actually going to do that then I assume it's because they wiped out their account. In that case they might as well first try to max out all their credit cards and try their strategy one last time. Never know, it might extend their life.
Here's Tom with the weather.
Have the suicide forex retail traders left a note with confirmation stating that retail forex ex was the reason they blew their heads off.
If not can we be sure if the reason. Could it be possible they had other underlying issues related to state of mind...

Pulling stats from thin air can give any result you choose.

Women drivers are more likely to kill them selves than woman who don't drive .is driving the tipping point that leads to this higher % off suicide in woman or could it be that more woman drive than not.

Its easy to play with stats to ones advantage.
Quoting OHLC
{quote} This is disturbing but I don't think that rate is significantly higher than in any other profession. But if someone is actually going to do that then I assume it's because they wiped out their account. In that case they might as well first try to max out all their credit cards and try their strategy one last time. Never know, it might extend their life.
Now that's a much more upbeat way of looking at this whole suicide problem at forex.

I think that's what I would do.
Quoting diceman555
Have the suicide forex retail traders left a note with confirmation stating that retail forex ex was the reason they blew their heads off. If not can we be sure if the reason. Could it be possible they had other underlying issues related to state of mind... Pulling stats from thin air can give any result you choose. Women drivers are more likely to kill them selves than woman who don't drive .is driving the tipping point that leads to this higher % off suicide in woman or could it be that more woman drive than not. Its easy to play with stats to...
Correlation is not causation.
"The fun is in the hunt. Not the kill."
Quoting diceman555
{quote} Now that's a much more upbeat way of looking at this whole suicide problem at forex. I think that's what I would do.
IMO anyone who is trading with anything less than a 50K or 100K, is pretty much risking or gambling. If one has a small account and if they're very good then they could survive; the point I'm trying to make is that, unless one has a 100K account, they shouldn't put so much hope into it to a point that if they get wiped out, they off themselves. Instead, they should be realistic and accept that they're just gambling.
Here's Tom with the weather.
Quoting Redeflect
{quote} Correlation is not causation.
To deep for me man .

There is lack of evidence here to confirm this rising trend in retail killing themselves .maybe this post belongs in the other thread rearing to trends existence.anyways getting back on topic.did these suicide forex traders leave confirmed notes stating forex as to the reason for blowing their heads of .if the answer is no then we can not be sure as to the reason and in respect for them should not assume anything.

I would not be happy if I ended my life and some weird group on the net claimed it was one of there's
if you lose move on, learn from the mistakes
try and try until you succeed.
Work in Silence Surprise them in action
Quoting Ross88
{quote} but is that a real statistics?
I think that is a real statistic. For truth you need you need to ask Stu, he is the only guy we both know who comes close to being a persistent profitable trader. So ask him if he thinks he qualifies.
Carbon-Dioxide: the gas of life!
Quoting Redeflect
{quote} Yet you're all here... ....
Correct! I am surviving off my stock market and other investments. My success with FX is mixed to be frank.
So now I am running demo until I convince myself there is a real possibility.


Quoting OHLC
{quote} IMO anyone who is trading with anything less than a 50K or 100K, is pretty much risking or gambling. If one has a small account and if they're very good then they could survive; the point I'm trying to make is that, unless one has a 100K account, they shouldn't put so much hope into it to a point that if they get wiped out, they off themselves. Instead, they should be realistic and accept that they're just gambling.
Size of account is not the issue. The reality is that 1% per month consistently is feasible, but totally uninteresting and unrewarding unless you have a large account.
So the reality is that the SEC/FCA/SFTC (?) mandatory warning is correct, misuse of leverage will kill your account.

I make about 1% per month out of my stock market activities.
Carbon-Dioxide: the gas of life!
Thread should be called suicide and gambling, not suicide and forex. Trading presents the opportunity for making money, lots of money, and that is what pulls people into it. If one reaches, through losses, the mental state where suicide is an option, one has stepped into that dark place that all people go to when suicide is seen as the only way out, but gambling is the worst because one is not only contemplating ending one's life, as one would say following bankruptcy or a failed relationship, one is also battling an addiction, and addictions can lead a person to suicide pretty quickly if they become completely unmanageable.

I have no advice for anyone currently facing this awful predicament, that of ending one's life, because I have never been there, but I do have plenty of advice for those coming into trading expecting relatively quick gratification - it won't happen. Be realistic ( most new traders are not ) and set yourself however long it takes to learn how to trade, usually several years or more. If you are gambling and losing ( gambling meaning you continue to trade live even when your are losing) , then seek professional help, because nothing, NOTHING is worth ending your life for.
Quoting Mingary
I am interested in suicide among discretionary retail traders, who usually suffer the greatest psychological and financial distress and would be less likely to attract major news coverage. Does anyone have any articles or anecdotes to share about retail trader suicides?
Turn your internet off and go fishing, you will be fine........................
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The More You Learn, The More You Earn.....
Quoting Mingary
{quote} I truly do not have a response for this... Perhaps an analogy might help So you have terminal cancer ? Well, all you have to do is get better, ok? 99.9999 % lose in forex and the winners of today become the losers of tomorrow In this population you will have extreme cases on both ends.
The % is better then that ........................and not true...............many are winning month after month even if it is one dollar......
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The More You Learn, The More You Earn.....
There is no reason to commit suicide whatsoever.........failure in trading is not the end of the world
atheer1
why think of such things? waste of energy unless you plan on helping suicidal traders or you yourself are planning on committing suicide, in which case you should seek professional help.
Quoting Ross88
{quote} but is that a real statistics?
I think, it’s real! Because, retail trading environment is similar! Even, the percentages can be more ridicule! But, the institutional environment is different!
Like all addictions, Forex addiction can hide other areas of your life that you try to escape from (social anxiety, depression, low self-esteem, loneliness...), instead of facing them and dealing with them, which is the only way you can develop yourself and enjoy your life to the fullest. Think about that and be aware.
Don't give up on your dreams. Keep sleeping.
Quoting Mingary
I am interested in suicide among discretionary retail traders, who usually suffer the greatest psychological and financial distress and would be less likely to attract major news coverage. Does anyone have any articles or anecdotes to share about retail trader suicides?
That is why I do automated trading only :lol
michisuperfr dropped in by claiming he made a few hundereds short of 500 000 last year.... Well the snake oilers have to keep the dream alive.
He's reply vanished so quickly I couldn't even quote it. Smart move....why?

If you have the following quote under your reply: "Men Who Can Both Be Right & Sit Tight Are Uncommon" ~ Jesse Livermore ", it's kind of funny to give such an answer to this thread.... because your idol Jesse commited - guess what - suicide....

His last words to his wife: (Wikipedia quote)
On November 28, 1940, Livermore fatally shot himself in the cloakroom of the Sherry Netherland Hotel in Manhattan. Police found a suicide note of eight small handwritten pages in Livermore's personal, leather bound notebook. The note was addressed to Livermore's wife Harriet (whom Livermore nicknamed "Nina") read, “My dear Nina: Can’t help it. Things have been bad with me. I am tired of fighting. Can’t carry on any longer. This is the only way out. I am unworthy of your love. I am a failure. I am truly sorry, but this is the only way out for me. Love Laurie”.[15]

This sums it up shockingly well, what highly speculative, leveraged trading like retail forex trading does to a person in the long run.

So to all snake oilers that are unsurprisingly running in overdrive: Take a minute to think about the harm you cause to ten thousands of retail traders before you continue what you are paid for. It's clear to me that you share responsibility. You are the enablers.... you sell the drug that finally ruins lives.
Quoting Exodus
{quote} The cure is simple. You just need to admit this guy was correct. At least I think that was him. A long-time advocate of the fruitless passtime that is forex trading. The avatar has improved ( grown-up ? ), used to depict a younger fresh-faced youth.
The cure is easier; become an FX educator
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