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Attachments: I lost 7k dollars and I am in a massive pain
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I lost 7k dollars and I am in a massive pain

  • #81
  • Jun 4, 2014 6:35am Jun 4, 2014 6:35am
Well, first of all, 7k is not a big loss.

I mean, over the years, I lost about 80k with forex trading. Not with one trade, but if you count all losses together it will be about 80k.

Someone who was in the same Seminar as I was told me he lost 190k over 10 years in forex.
Forex is a losers game.
  • #82
  • Jun 4, 2014 6:42am Jun 4, 2014 6:42am
Quoting ZaiKo
Hello everybody, I am new to posting, but not to forexfactory, I read a lot everyday in the forums, but never the opportunity to post. I am a 21 year old student right now and for me making money is pretty much null. However I have been experiencing Forex trading for about 1 year since I started learning a lot. I would like to tell you my long story, and yes, I know 1 year isn't a lot, but I really trained hard this 1 year and all the end I am pretty much disappointed. I like to post this to hear what you think about and because as I have also read...

Dude....... get over yourself .... you never lost an initial $7k deposit... it was profit.

Grow up and move on.
  • #83
  • Jun 4, 2014 6:52am Jun 4, 2014 6:52am
First and foremost I applaud you for starting early in life. I wish I was trading that early. Second of all, you need to have a trading plan that consist of how many trades you are allowed to take per day and the amount you are willing to risk. ALWAYS use a stop loss!! I cant emphasize how important that is. Minimize your loss and let your profits run. Another thing you should consider is getting an education. Anyone who tries to read book on how to trade is crazy!With that small size account the most you should be risking is $2-5. I know its small but its the smart thing to do. Please don't get discourage and keep going! Stay focused, maintain a great attitude and minimize your loss. Losing $7k in a day is crazy. Give Online Trading Academy a call, they have a great school system on how to trade like the Pros.

Hope this helped. Remember,

1) Trading Plan
2)Minimize your loss in every trade you take. Use a stop loss.
3) Treat it like a Business.
4) 95% of trading is Planning.

Have fun
  • #84
  • Jun 4, 2014 7:08am Jun 4, 2014 7:08am
Quoting Vitez
I don't believe you turned $200 into $7k in a month risking 1%. Even if you were risking 10% I very much do not believe you

I would believe him..

But the answer to the original poster.. You never lost $7K..
Your actual deposit was $200.. So you lost peanuts.. Why acting so strange and STUPID ??
Money comes and goes..
Learn from your mistakes..

You will make much and much more!! Good Luck..
Classical chart patterns of currencies from 15+ Year Pro Trader
  • #85
  • Jun 4, 2014 7:18am Jun 4, 2014 7:18am
For everyone saying it is just peanuts: Some people have to live off of that money a whole year. Not because they are less talented than you or stupid or whatever, but because they had pretty bad luck to either not have wealthy parents and/or bad luck in their social surroundings. Then if you read carefully, he says that he is 21 and a student. So 7 k is a lot of money.

True, it was profit. But then again, under the given circumstances, even 200 $ is a lot of money. You can buy some food with that or pay the rent for some days. Saying it is nothing is quite complacent and indicates that some people are taking their own wealth for granted while looking down on others who do not own a lot of money - which is the main part of the world by the way. Maybe right of birth or some neurotic shit or what you ever believe you are LOL.

But whatever, for the thread opener: There is no amount of money in the world to kill for, especially not yourself.
Fix up, trade sharp ...
  • #86
  • Jun 4, 2014 7:48am Jun 4, 2014 7:48am
Quoting trader121
Well, first of all, 7k is not a big loss. I mean, over the years, I lost about 80k with forex trading. Not with one trade, but if you count all losses together it will be about 80k. Someone who was in the same Seminar as I was told me he lost 190k over 10 years in forex.
Trader 121 ,for Switzerland from where you are 7000 dollars is not at all big money. But somewhere in India, for example you can buy not small village with all its inhabitants put together....))))))
Sure you can not afford yourself to buy a home in your country with the money you have lost during your FX experience.
So ,everything is relative!
Take care)
Success is nothing more than a few simple disciplines, practiced every day.
  • #87
  • Jun 4, 2014 1:27pm Jun 4, 2014 1:27pm
Quoting aviz12
{quote} I would believe him.. But the answer to the original poster.. You never lost $7K.. Your actual deposit was $200.. So you lost peanuts.. Why acting so strange and STUPID ?? Money comes and goes.. Learn from your mistakes.. You will make much and much more!! Good Luck..
For the third time in this thread he did not risk 1% but much more....
  • #88
  • Jun 4, 2014 1:44pm Jun 4, 2014 1:44pm
Zaiko also:

although young you have to become stronger. I was at exact your age when I lost $9k of my money and $5k of my family's money (with stock options) and I haven't thought about suicide at all so....man up!

also think why is this good? money changes people and maybe $$ would pump your ego or something and you would not be a nice person at all...money has the power to do that to us...think about it...
  • #89
  • Jun 4, 2014 6:15pm Jun 4, 2014 6:15pm
Quoting Vitez
{quote} MapleLeaf you and Mingary are awesome for sharing the truth! I really think so because FX is promoted as a noble business while indeed it is a gambling scheme.
Exactly. This is a gambling scheme.

Don't waste your hard earned money in this.
The Black Swan: The Impact of the Highly Improbable
  • #90
  • Jun 4, 2014 8:36pm Jun 4, 2014 8:36pm
Remember that the vast vast majority of people loose everything in this game, that is normal. Over the long term the success is 2-5% depending on the figures you use.

As for loosing, I lost $8K the first week I traded and it hurt, it make me physically sick thinking about all of the things I could have done with that money.

The industry is massive, there is huge money in it. The money comes from retail traders and goes to commercial, banks, brokers, professional trading institutions and 'education' services.
  • #91
  • Jun 4, 2014 8:43pm Jun 4, 2014 8:43pm
It is gambling !!!, i beleive everyone faced that before.
I lost 3k within a few week, and those were teaching me.

even now , i am not sure if j am sill gambling or not but i have no rush to get it back when i lost.
Learning and Learing
  • #92
  • Jun 5, 2014 2:18am Jun 5, 2014 2:18am
Quoting MapleLeaf
{quote} Exactly. This is a gambling scheme. Don't waste your hard earned money in this.
It is still the best thing in gambling scheme. You have a point of reference (chart) and you totally control the risk/trade.
  • #93
  • Jun 5, 2014 2:28am Jun 5, 2014 2:28am
Quoting Machinator
{quote} But somewhere in India, for example you can buy not small village with all its inhabitants put together....))))))
Very far from truth. Even in the remotest village here in India it is difficult find 1000sft of land for $7k.
It is different matter in cities where I live in (Bangalore) where single sq.ft. costs anywhere around $200.
"Put all your efforts in becoming effortless"
  • #94
  • Jun 5, 2014 3:02am Jun 5, 2014 3:02am
Quoting Machinator
{quote} Trader 121 ,for Switzerland from where you are 7000 dollars is not at all big money. But somewhere in India, for example you can buy not small village with all its inhabitants put together....)))))) Sure you can not afford yourself to buy a home in your country with the money you have lost during your FX experience. So ,everything is relative! Take care)
Not sure about buying Indian villages, perhaps in Armenia this is possible!

India's GDP: 4.749 trillion USD
Armenia's GDP: 9.91 billion USD

Both above figures as of 2012 World Bank reports

Now lets look for Armenian villages!
  • #95
  • Jun 5, 2014 5:02am Jun 5, 2014 5:02am
Quoting shiva
{quote} Not sure about buying Indian villages, perhaps in Armenia this is possible! India's GDP: 4.749 trillion USD Armenia's GDP: 9.91 billion USD Both above figures as of 2012 World Bank reports Now lets look for Armenian villages!
Quote
Very far from truth. Even in the remotest village here in India it is difficult find 1000sft of land for $7k.
It is different matter in cities where I live in (Bangalore) where single sq.ft. costs anywhere around $200.
My dear Indian friends!
In every joke there is a grain of truth ,but this grain you take too much deep to your heart. Sorry for that,no offence was meant!
And moreover I don't want to dispute whose country is wealthier,stronger etc.
Just one obvious remark: Bangalor,Deli,Kalkuta,Mumbai is not the whole India at all. There is Dharavi in Mumbai,which is not the whole Mumbai at all.Like in any developing (well known as- third world countries,yes I am also from there)) country there is differences in standarts of living in center and outskirts. Unfortunately in both our countries this difference is huge.Hope one day the situation will improve not only for our motherlands,but all over in the most part of our little world...

Sincerely,
David.
Success is nothing more than a few simple disciplines, practiced every day.
  • #96
  • Jun 5, 2014 8:59am Jun 5, 2014 8:59am
hehehe.. $7000 is small school fees...

relax you are ok... move on...
practising coitus interruptus
  • #97
  • Jun 5, 2014 3:05pm Jun 5, 2014 3:05pm
Quoting Hickson
For everyone saying it is just peanuts: Some people have to live off of that money a whole year. Not because they are less talented than you or stupid or whatever, but because they had pretty bad luck to either not have wealthy parents and/or bad luck in their social surroundings. Then if you read carefully, he says that he is 21 and a student. So 7 k is a lot of money. True, it was profit. But then again, under the given circumstances, even 200 $ is a lot of money. You can buy some food with that or pay the rent for some days. Saying it is nothing...
If you are living on $200 a year then you probably shouldn't be trading in the first place with that amount. It's been said many times that we shouldn't trade with money we can't afford to lose.

It changes your mindset when you need to make money on your deposit.
  • #98
  • Jun 13, 2014 6:24pm Jun 13, 2014 6:24pm
Quoting Machinator
{quote} {quote} My dear Indian friends! In every joke there is a grain of truth ,but this grain you take too much deep to your heart. Sorry for that,no offence was meant!... there is differences in standarts of living in center and outskirts. Unfortunately in both our countries this difference is huge.Hope one day the situation will improve not only for our motherlands,but all over in the most part of our little world... Sincerely, David.
Buying an indian villave..yeah, call me when that becomes a reality. Moving back to the topic, it is great that the poster did do a return and from what we can read, in better spirits. So some of us can relax and quit dialing the hotline, for it is five pm down here, friday and we wanna party..
To the poster, when it comes to forex, as you might have realized by now, the line between what's real and what's not is blurred. Bottom line, as long as you do not go bust, you're doing fine..you can move on to "great" after landing a few profits.
Not to be pedantic, Fx trading is NOT gambling..sheesh, it is the same argument nary a proof..
  • #99
  • Jun 15, 2014 5:25am Jun 15, 2014 5:25am
Quoting ZaiKo
Hello everybody, I am new to posting, but not to forexfactory, I read a lot everyday in the forums, but never the opportunity to post. I am a 21 year old student right now and for me making money is pretty much null. However I have been experiencing Forex trading for about 1 year since I started learning a lot. I would like to tell you my long story, and yes, I know 1 year isn't a lot, but I really trained hard this 1 year and all the end I am pretty much disappointed. I like to post this to hear what you think about and because as I have also read...
read about the successes and about the failures before not after. people really died and went to jail when dealing with money and markets. people changed dramatically after they won. success is bullshit if you ignore failures.
  • #100
  • Jun 15, 2014 6:52am Jun 15, 2014 6:52am
You can turn $200 to $7000. you can do it again, but this time do be careful about money management.
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