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Struggling Russians Turn to Day-Trading to Pay the Bills

  • #1
  • First Post: Apr 27, 2018 12:14pm Apr 27, 2018 12:14pm
Struggling Russians Turn to Day-Trading to Pay the Bills. The Moscow Exchange opened 250,000 new day trading accounts for citizens last year, taking the total to almost 1.4 million.

Struggling Russians Turn to Day-Trading to Pay the Bills - Bloomberg

Interesting story! What are the figures for the US and/or Europe? Thought this might have found it's way into the FF NEWS section.
Cut your Losers short and let your Winners run.
  • #2
  • Apr 27, 2018 3:02pm Apr 27, 2018 3:02pm
I generally like Bloombergs articles, but that one is utter drivel.

I'm not even sure what the motive is. Trying to get more people interested in trading?

Of course Orlova works a $400 a month job whilst making $24,000 at the touch of a button, within a few days trading oil... A new Infinity out here will be $40/60k too, so she must have a few hundred $k's to play with...sorry, but utter bullshit

For Russians struggling to buy food and pay bills, starting day trading, has to be the worst possible idea... don't forget the facts - 99%+ will lose and lose for a very long time.

Believe nothing of what you hear and only half of what you see...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #3
  • Apr 27, 2018 4:01pm Apr 27, 2018 4:01pm
Quoting The Cableguy
For Russians struggling to buy food and pay bills, starting day trading, has to be the worst possible idea... don't forget the facts - 99%+ will lose and lose for a very long time. Believe nothing of what you hear and only half of what you see...
//-----

hey cableguy..... i have no idea of anything in the article is true or not but is there an alternative for them.... or for those in the ukraine for that matter.....

couldn't it be done...... i spend a lot of time using google street view driving down streets and roads in the ukraine, mostly odessa..... russia too..... i would like to visit both but that probably can never be.....

judging from the average monthly income if i lived there i'd be searching for someway to make extra money..... trading might be the best option...... or the only one.....h
to trade and code, keep both simple... no call to impress....h
  • #4
  • Apr 27, 2018 4:32pm Apr 27, 2018 4:32pm
Natalia Orlova works at a Moscow factory that makes Cold War-era space rockets.

Space rockets ?,,,. lol,,,,,, too many Hot war space cakes at Bloomberg,, fresh out the oven,,, at least let them cool off a bit...
  • #5
  • Apr 27, 2018 5:03pm Apr 27, 2018 5:03pm
Yeah read it yesterday on bloomberg, what a crock, what a pointless article.

Quoting The Cableguy
I generally like Bloombergs articles, but that one is utter drivel. I'm not even sure what the motive is. Trying to get more people interested in trading? Of course Orlova works a $400 a month job whilst making $24,000 at the touch of a button, within a few days trading oil... A new Infinity out here will be $40/60k too, so she must have a few hundred $k's to play with...sorry, but utter bullshit For Russians struggling to buy food and pay bills, starting day trading, has to be the worst possible idea... don't forget the facts - 99%+ will lose and...
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #6
  • Apr 27, 2018 6:32pm Apr 27, 2018 6:32pm
What a junk bloomberg.
  • #7
  • Apr 28, 2018 10:28am Apr 28, 2018 10:28am
Quoting hayseed
{quote} //----- hey cableguy..... i have no idea of anything in the article is true or not but is there an alternative for them.... or for those in the ukraine for that matter..... couldn't it be done...... i spend a lot of time using google street view driving down streets and roads in the ukraine, mostly odessa..... russia too..... i would like to visit both but that probably can never be..... judging from the average monthly income if i lived there i'd be searching for someway to make extra money..... trading might be the best option...... or...
Trading is a fantastic job to have whilst living here, but only if you're actually profitable!

The cost of living is very cheap, but wages are pitiful, (typically less than $10 a day for normal shop assistant, waitering type jobs etc) - that is for towns outside cities, you can double that for cities, but then, so the same applies for rent.

But...

If you're kidding yourself and not profitable, that means any losses will hit the average person out here so much harder. They don't have any money spare to lose.

It takes years to achieve profitability, thus you actually need a good paying job to subsidise your trading (not the other way around, as the article suggests).
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #8
  • Apr 28, 2018 3:41pm Apr 28, 2018 3:41pm
Quoting The Cableguy
The cost of living is very cheap, but wages are pitiful, (typically less than $10 a day
//-----

hey cableguy...... thanks for the reply..... i would never suggest anyone trade forex...... in any country.....

perhaps my take on the article is all wrong..... and i've reread it several times...... i'd was ready to stand up and cheer for natalia.... or for anyone in a similar situation in any country that was determined enough to succeed at trading.....

the 10$ a day job would be all required for me to spend however many years it took to be successful.... yeah it takes a while..... but it can be done......

maybe she can...... i'm cheering for her......h
to trade and code, keep both simple... no call to impress....h
  • #9
  • Apr 28, 2018 4:05pm Apr 28, 2018 4:05pm
Quoting hayseed
{quote} //----- hey cableguy...... thanks for the reply..... i would never suggest anyone trade forex...... in any country..... perhaps my take on the article is all wrong..... and i've reread it several times...... i'd was ready to stand up and cheer for natalia.... or for anyone in a similar situation in any country that was determined enough to succeed at trading..... the 10$ a day job would be all required for me to spend however many years it took to be successful.... yeah it takes a while..... but it can be done...... maybe she can...... i'm...
The thing about humans, is that we will naturally believe what we read... but why? It's because it feels wrong to disbelieve, but that's not right.

There is absolutely nothing more than a couple of pictures of a woman looking at a phone and a bunch of words written by someone.

You have to ask what the motives are? I suspect a paid for article shopping for customers, or something along those lines although there are no specific providers mentioned. But common sense says that the article is either baseless, or at least, hugely misleading.

I stress again... it takes years to stop losing and then turn things around to become a successful day trader, so all of those desperate Russians, turning to day trading are about to lose what little capital that they have.

If a beginner makes a nice chunk from an early punt, it will be the worst possible thing to happen, cos it will all be given back and more over the coming years. The idea that someone got lucky with timing a trade right and then following it up by doing that again and again, is a very rare event!

Regarding 'Natalia', the capital req'd to see a gain of '$24k since yesterday', means she must be sat on prob 10 times that. You have to ask yourself why someone would be working for $20 a day, whilst sitting on that much capital?!

They make it sound so easy, but anyone who has been around long enough, knows that it is not only improbable, but nigh on impossible, unless she has been doing it for half of her life... The article stresses that it is newbies who are signing up by the thousand to subsidise their earnings - now that is simply 'lambs to the slaughter')
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #10
  • Apr 28, 2018 4:52pm Apr 28, 2018 4:52pm
Bullshit and this industry are conjoined, freakish, twins my friend. Without that unholy union the retail industry dies. I’m just constantly surprised how there’s always new cohorts of gullible fools, ready and eager to suck on the kool aid teets. I always presumed word would get through, that the new legions would get the message, after two decades of failed retail internet trading, but they don’t. The industry is the same as any other gambling venture, but FX gambling has a thin veneer of respectability, through the word “trading”.

Quoting The Cableguy
{quote} The thing about humans, is that we will naturally believe what we read... but why? It's because it feels wrong to disbelieve, but that's not right. There is absolutely nothing more than a couple of pictures of a woman looking at a phone and a bunch of words written by someone. You have to ask what the motives are? I suspect a paid for article shopping for customers, or something along those lines although there are no specific providers mentioned. But common sense says that the article is either baseless, or at least, hugely misleading....
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #11
  • Apr 29, 2018 6:36am Apr 29, 2018 6:36am
Quoting The Cableguy
{quote} The thing about humans, is that we will naturally believe what we read... but why? It's because it feels wrong to disbelieve, but that's not right.
Actually, we tend to believe what we WANT to believe. And we reject what we don't want to believe, no matter what the facts are. It's coming from our ego. It's role is to protect you believes and faiths, that are strongly impregnated in your subconscious mind. So the ego will do anything in order to protect them, including alter your perception of the physical reality, which is right in front of your eyes.
Don't give up on your dreams. Keep sleeping.
  • #12
  • Apr 29, 2018 8:10am Apr 29, 2018 8:10am
Quoting Artcool
{quote} Actually, we tend to believe what we WANT to believe. And we reject what we don't want to believe, no matter what the facts are. It's coming from our ego. It's role is to protect you believes and faiths, that are strongly impregnated in your subconscious mind. So the ego will do anything in order to protect them, including alter your perception of the physical reality, which is right in front of your eyes.
Artcool, nicely said .......
'Man prefers to believe what he prefers to be true"- Francis Bacon
Always trade your own plan...I don't provide trading signals.
  • #13
  • Edited 3:05am Apr 30, 2018 2:51am | Edited 3:05am
One of my friends just told me that she quit her job working in a bank here in my town.

She was getting 3,000 hryvna a month
(current exchange rate approx 36 hrv = £1 or around 26 hrv = $1). That's full time and less than £5 a day.

I took her and her daughter for pizza and sushi yesterday - merely £6 with beer, coffee and juice and yet that equates to more than a days wage for her.

Think about that for a moment! Typical wages will be £100+ a day in the UK... who would go and spend £120 for the equivalent in blighty?!

Crazy when the price of meat and other staple foods are equivalent to that of the UK. Electrical goods and furniture are actually more expensive here.

It's borderline 3rd world and yet this is Europe... All of the younger generation rely on parents and grandparents to live.


You can see why the lure of trading is strong, but that is equally as crazy.

I have several friends who were asking me about bitcoin at the end of last year. One lad sharing photo's of a dealing screenshot from his computer on Facebook...

I recognised that familiar feeling from many years ago... wanting to say to everyone - 'look at me - i'm a trader, a real high flier now...' that was when bitcoin hit $15/16k+ and his $200 investment had turned into $350... now it will probably be worth less than when he started and 6 months have passed by. Hardly a recipe for supplementing your income...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #14
  • Apr 30, 2018 6:04am Apr 30, 2018 6:04am
Quoting The Cableguy
Think about that for a moment! It's borderline 3rd world and yet this is Europe....
//-----

hey cableguy...... i have..... more than anyone would ever think...... it's the reason i have driven down so many streets in odessa and other cities..... wondering.....

other than money, i don't think there is a nickel's worth of difference between them, people in ukraine , and me......

yeah, i'm guilty of trusting too much..... and we believe what we want to believe...... but we know what we know....... my money is on them.......h

//----
//---- from another post on another thread

Quoting hayseed
our views on trading might be polarized but if genuine are still of value..... i firmly believe in andrew carnegie's master mind principle..... and equally in the paulo coelho's book the alchemist...... my life is proof of those things...... i have often wondered of the potential of hand full forex factory members if they could form such a group.... in no particular order...... zznbrm,...
to trade and code, keep both simple... no call to impress....h
  • #15
  • Apr 30, 2018 8:28am Apr 30, 2018 8:28am
Where in Ukraine are you?

Quoting The Cableguy
One of my friends just told me that she quit her job working in a bank here in my town. She was getting 3,000 hryvna a month (current exchange rate approx 36 hrv = £1 or around 26 hrv = $1). That's full time and less than £5 a day. I took her and her daughter for pizza and sushi yesterday - merely £6 with beer, coffee and juice and yet that equates to more than a days wage for her. Think about that for a moment! Typical wages will be £100+ a day in the UK... who would go and spend £120 for the equivalent in blighty?! Crazy when the price of meat...
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #16
  • Apr 30, 2018 8:33am Apr 30, 2018 8:33am
Quoting Spreadbetter
Where in Ukraine are you? {quote}
SouthEast, near Dnepropetrovsk...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #17
  • Apr 30, 2018 8:44am Apr 30, 2018 8:44am
Tough life?

Quoting The Cableguy
{quote} SouthEast, near Dnepropetrovsk...
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #18
  • Apr 30, 2018 9:27am Apr 30, 2018 9:27am
Well this guys makes 1000 a day.

He trades from indicators.

He hits his 1000 k per day EVERY DAY,he told me.

https://www.forexfactory.com/showthread.php?t=758172


The agenda never stops.

so many people claim to make so much money with retail Forex (claim being the key word)

Its all fraud.
  • #19
  • Apr 30, 2018 9:42am Apr 30, 2018 9:42am
Quoting goose4
Well this guys makes 1000 a day. He trades from indicators. He hits his 1000 k per day EVERY DAY,he told me. https://www.forexfactory.com/showthread.php?t=758172 The agenda never stops. so many people claim to make so much money with retail Forex (claim being the key word) Its all fraud.
Actually 1,000$ is not so much a big deal as you've made it out to be...people do make way more than that trading forex. just most people who make that much hardly come forums like forexfactory to tell....the creator of this thread is one trader i am certain rakes in pips day in day out (sorry DEE50) on a regular.
  • #20
  • Apr 30, 2018 9:46am Apr 30, 2018 9:46am
Quoting amocfx
{quote} Actually 1,000$ is not so much a big deal as you've made it out to be...people do make way more than that trading forex. just most people who make that much hardly come forums like forexfactory to tell....the creator of this thread is one trader i am certain rakes in pips day in day out (sorry DEE50) on a regular.

I did not know this was possible trading retail Forex ?

Are you sure about your information ? How do you know this ?

Kind regards,

Goose
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