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Help - The savings of one year gone in a few days

  • #1
  • First Post: Mar 13, 2019 10:34am Mar 13, 2019 10:34am
I dont know from where begin. I am very nervous and with anxiety because what happened was not normal.I feel stupid. I had a 5k account and i did a wrong trade from sp500 that one person advice in timing solution group and i losted 1800. Then i got more nervous yet so i have tried to recover and look for any good trade here and there.The fact is i trusted the wrong one, it appeared good statements in his profile and i was so idiot that i trusted.In one day he losted the other part of the account. Since ten years in this world this cycle is repeating himself, always loss, and always get scammed. I really would appreciate somebody that can rebuild this situation as i am depressed and feel stupid.The savings of near one year are gone in just a few days. Please, i know the trading is a closed circle but is possible somebody help me? I feel very bad and destroyed.
  • #2
  • Mar 13, 2019 1:47pm Mar 13, 2019 1:47pm
Quoting astrotrader2
I dont know from where begin. I am very nervous and with anxiety because what happened was not normal.I feel stupid. I had a 5k account and i did a wrong trade from sp500 that one person advice in timing solution group and i losted 1800. Then i got more nervous yet so i have tried to recover and look for any good trade here and there.The fact is i trusted the wrong one, it appeared good statements in his profile and i was so idiot that i trusted.In one day he losted the other part of the account. Since ten years in this world this cycle is repeating...
Your money is gone.
Forex is a scam
No one makes money in forex except scammers and brokers.
Forget about it and get a real job
  • #3
  • Mar 13, 2019 3:34pm Mar 13, 2019 3:34pm
Quoting Jmexpat
{quote} Your money is gone. Forex is a scam No one makes money in forex except scammers and brokers. Forget about it and get a real job
so what are you doing here?anyway thank you for your answer also i would like to recover it...i dont think any protrader will get in touchBut it is very hard how the savings of 9 months are gone. If anyone makes money here and is possible to get in touch i would like to do it...i am very losted now
  • #4
  • Mar 13, 2019 3:57pm Mar 13, 2019 3:57pm
Quoting Jmexpat
{quote} Your money is gone. Forex is a scam No one makes money in forex except scammers and brokers. Forget about it and get a real job
Tripe
  • #5
  • Mar 13, 2019 7:04pm Mar 13, 2019 7:04pm
Quoting astrotrader2
I dont know from where begin. I am very nervous and with anxiety because what happened was not normal.I feel stupid. I had a 5k account and i did a wrong trade from sp500 that one person advice in timing solution group and i losted 1800. Then i got more nervous yet so i have tried to recover and look for any good trade here and there.The fact is i trusted the wrong one, it appeared good statements in his profile and i was so idiot that i trusted.In one day he losted the other part of the account. Since ten years in this world this cycle is repeating...
I'm really sorry to hear about your story mate... I've been there, losing 2.5k in just a night (traded martingale; never again). When I started I was always thinking about just making money but I realized what other traders taught me was the importance of risk. It sounds stupid for the novice trader and it did to me as well, but managing your trade after you enter (exiting little by little and moving stops) is really important and also your lot position size. That not only should we have an edge on the market by having an accurate entry, but we should also have an edge on the trade management... At least that's what the pro's taught me. I'm still training, too...
  • #6
  • Mar 14, 2019 5:56am Mar 14, 2019 5:56am
Quoting runtherace
{quote} I'm really sorry to hear about your story mate... I've been there, losing 2.5k in just a night (traded martingale; never again). When I started I was always thinking about just making money but I realized what other traders taught me was the importance of risk. It sounds stupid for the novice trader and it did to me as well, but managing your trade after you enter (exiting little by little and moving stops) is really important and also your lot position size. That not only should we have an edge on the market by having an accurate entry,...
the thing is somebody help me to recover in anyway, i really would appreciate, i consider that i have not the iq needed to trade forex and i am not going to do it never more, i am psychologically destroyed, and the health is the most important...i lost so much money beside this that i feel shame when i am in front of my family,i really dont know what to say...
  • #7
  • Mar 14, 2019 6:03am Mar 14, 2019 6:03am
Quoting astrotrader2
{quote} the thing is somebody help me to recover in anyway, i really would appreciate, i consider that i have not the iq needed to trade forex and i am not going to do it never more, i am psychologically destroyed, and the health is the most important...i lost so much money beside this that i feel shame when i am in front of my family,i really dont know what to say...
if you are asking someone to help you trade it back then i suggest you prepare to lose the rest. Over 90% lose in this business on the retail side so consider yourself lucky for having anything left, but don't assume you will get adequate help from a stranger on a forum that is full of scammers and pretenders. Take what you have left and move on taking it as a lesson in life like any other. Sorry to bring bad news over and above what you have already.
  • #8
  • Mar 14, 2019 7:37am Mar 14, 2019 7:37am
Quoting EcoTrader
{quote} if you are asking someone to help you trade it back then i suggest you prepare to lose the rest. Over 90% lose in this business on the retail side so consider yourself lucky for having anything left, but don't assume you will get adequate help from a stranger on a forum that is full of scammers and pretenders. Take what you have left and move on taking it as a lesson in life like any other. Sorry to bring bad news over and above what you have already.
How is that any different from what I said ? except less brutal perhaps
  • #9
  • Mar 14, 2019 1:02pm Mar 14, 2019 1:02pm
Sorry to hear buddy. 90% of people lose money in this industry and it requires alot of patience and hard work.
  • #10
  • Mar 14, 2019 1:16pm Mar 14, 2019 1:16pm
Quoting EcoTrader
{quote} if you are asking someone to help you trade it back then i suggest you prepare to lose the rest. Over 90% lose in this business on the retail side so consider yourself lucky for having anything left, but don't assume you will get adequate help from a stranger on a forum that is full of scammers and pretenders. Take what you have left and move on taking it as a lesson in life like any other. Sorry to bring bad news over and above what you have already.
The fact is that between courses and trading i losted near 20000 eur and i feel very bad from my family. I remember once they posted who is able to make one million per years from a small account, and i guy called fantomoftheforums went into that thread and said that all the publicity,indicators are more things are shit to fuck as. My mistake was to believe that i could go ahead alone and well...i suppose everyone of us has a destiny. If you see my natal chart it appears mercure retrograde so i am not outoing and in theory i will loose in markets, thing that already happened. I tried to challenge my natal chart but since mercury was retrograde i loose and loose money. I believe that planets control your life in one or other way.At least these posts make me feel better expressing my opinions.Thanks the ones that answer.
  • #11
  • Mar 15, 2019 5:20am Mar 15, 2019 5:20am
I'm very sorry for what you've gone through, it is a common thing that happens to traders at one point or the other. What matters is how you recover from your loss. Just evaluate your trading strategy and see the missing links. Avoid fake forex education and do thorough background check before signing up with a broker. In my opinion, contracting someone to do your trading is one of the easiest ways to LOSE money in forex
  • #12
  • Mar 15, 2019 8:44am Mar 15, 2019 8:44am
Welcome to the club, dude...

Never lost 1800 USD, but did lose two thirds of my starting capital two months ago.

Wanted some quick money and just jumped into the market, thinking myself invincible. Two deals later, I was 300 USD down.

Technically, I'm still in the red, trying to make that money back. But I'm getting there and will break even before summer. Having a good trading strategy and trading small helps.
  • #13
  • Mar 15, 2019 9:55am Mar 15, 2019 9:55am
Soooo... you saved for a year, opened a trading account and THEN you trusted someone to give you a "signal" and then you lost a good chunk in 1 trade..

THEN you tried to revenge trade to get back what you lost (failed)..

THEN you trusted again some dude and he basically wiped your account..


Best advice? please do this ASAP:

1.- DO NOT i repeat DO NOT make any kind of effort in order to learn and do this on your own !!! learning, self sacrifice and discipline NEVER gets you ANYWHERE !! TRUST ME !!!

2.- DO NOT make things on your own.. ever; always save money for a long time and then trust someone else to play with that money, i mean after all they can make tons out of it for you, so that way you can keep doing Number 1 and just chill in a couch dreaming about that lambo and all the incoming luxiries

Never change that attitude !!! it will make all your dreams come true =)
  • #14
  • Mar 15, 2019 8:32pm Mar 15, 2019 8:32pm
Quote
r money is gone.
Forex is a scam
No one makes money in forex except scammers and brokers.
Forget about it and get a real job

Quote
if you are asking someone to help you trade it back then i suggest you prepare to lose the rest. Over 90% lose in this business on the retail side so consider yourself lucky for having anything left, but don't assume you will get adequate help from a stranger on a forum that is full of scammers and pretenders. Take what you have left and move on taking it as a lesson in life like any other. Sorry to bring bad news over and above what you have already.
Spot on, both of you.

FX is brutal and TOTALLY unforgiving! They do NOT give a sh!t about you, your feelings or your life, all they want is your money. Please wake yourself up to this fact.

Secondly, if you can save $5k in a year you are doing better than most, just don't spend it. The advisors can see you as gullible. Don't touch FX again would be my advice.
My comments are not to be taken as trading advice, not a financial advisor
  • #15
  • Mar 17, 2019 11:51am Mar 17, 2019 11:51am
Quoting havo
Soooo... you saved for a year, opened a trading account and THEN you trusted someone to give you a "signal" and then you lost a good chunk in 1 trade.. THEN you tried to revenge trade to get back what you lost (failed).. THEN you trusted again some dude and he basically wiped your account.. Best advice? please do this ASAP: 1.- DO NOT i repeat DO NOT make any kind of effort in order to learn and do this on your own !!! learning, self sacrifice and discipline NEVER gets you ANYWHERE !! TRUST ME !!! 2.- DO NOT make things on your own.. ever; always...
i have sent you a pm...you are right and my attitude was wrong...now trying to recover all what i lost
  • #16
  • Mar 17, 2019 3:23pm Mar 17, 2019 3:23pm
If you try to make any amount worth having by trading a 5k account then you are over-leveraged. That's a gambling amount of money. Be prepared to lose all of it, or try researching how hedge funds do it, the amount of leverage they use and the amount they risk. And then take note of how many hedge funds go out of business, and why.

If you do your due diligence then you will either stop trading and cut your losses, or continue as a hobby and make a few hundred a year, if you are good at it.
Gone to a better place
  • #17
  • Mar 18, 2019 11:13am Mar 18, 2019 11:13am
For how long have you been trading in general on a live account?
  • #18
  • Mar 19, 2019 3:53am Mar 19, 2019 3:53am
Look at it positively - one year savings of 5K isn't that bad. Many people in western world don't have this kind of luxury
At least you know that trading isn't for you and you are just another gambler. Take it as expensive lesson and and don't touch it anymore.
  • #19
  • Mar 27, 2019 4:04pm Mar 27, 2019 4:04pm
Quoting astrotrader2
I dont know from where begin. I am very nervous and with anxiety because what happened was not normal.I feel stupid. I had a 5k account and i did a wrong trade from sp500 that one person advice in timing solution group and i losted 1800. Then i got more nervous yet so i have tried to recover and look for any good trade here and there.The fact is i trusted the wrong one, it appeared good statements in his profile and i was so idiot that i trusted.In one day he losted the other part of the account. Since ten years in this world this cycle is repeating...
Sad you lost your money, but a good lesson for you.
You need to ensure you understand the markets and create a plan that suits you not rely on other people to trade for you and use sound money management...clearly didn't if you blew 1.8K of a 5K account in a single trade, you need to use SL and not risk more than 2% or so of your capital per trade...an expensive but important lesson.

go back to learning, creating and back testing strategy, trade on demo, then and only then once you are consistent and profitable consider a small real money account
  • #20
  • Mar 27, 2019 8:57pm Mar 27, 2019 8:57pm
Hi,

Firstly, calm yourself down, then you can think clearly of what you want to do next

couple options:
1. quit trading
2. continue trading, but try demo first while test profitable strategy, do not go live until it is proven consistently profitable

last note, do not trade based on others advice, and do not revenge trading

hope everything goes well with you
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