HELP A BRO!! I Just lost my school fees & house money trading | Page 2 | Forex Factory

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HELP A BRO!! I Just lost my school fees & house money trading

  • #21
  • Oct 26, 2016 3:07pm Oct 26, 2016 3:07pm
This guy... He's not a trader... He's a gambler...
He just went full retard...

The mistakes he made... How is he even in school if he's this dumb?
-He used money he couldn't afford to lose.
-He had no money management since he lost all his money to a 50pip loss
-He didn't know what he was doing at all
-He didn't test a strategy... Maybe he didn't even have one and just said fuck it too much work
-He has no education at all
-He's now begging for money from people that are trying to become successful traders themselves aka people here are usually struggling traders or building their trading accounts or newbies to trading looking for a holy grail or newbies to trading that actually want to educate themselves and put the work in.
Meaning that it's not the right place to ask for money.

You were desperate for money and instead of gaining it you gambled it away.
Please never trade Forex again until you get a proper education for it and even then I don't recommend it for you since you're obviously not a trader but a gambler.
Learn from this mistake and never make it again.


-AntiVi
  • #22
  • Oct 26, 2016 4:19pm Oct 26, 2016 4:19pm
Well I have one problem too. When I make deposit, i risk ALL of it. I dont understand why. Maybe Im bored or want adrenalin. But I found some good thing. Every day before trading I deposit 0.5 percent of my deposit to trading account and take tablet to trade. I cant deposit more. So I loose only 0.5 percent of that day.

Another thing - I took trading psychology course, and began learning how through body language you can talk ith your inner child, teen, adult. In this case its teen. Very strange connections thruogh pictures, self talking...
  • #23
  • Oct 26, 2016 4:57pm Oct 26, 2016 4:57pm
According of his profile intro the guy is a professional trader from Nigeria...
then start out that he want to beg for money on gofundme...

draw your own conclusions, i had.
there is always, always another trade!!
  • #24
  • Oct 26, 2016 5:00pm Oct 26, 2016 5:00pm
Quoting vaidas7777
Well I have one problem too. When I make deposit, i risk ALL of it. I dont understand why. Maybe Im bored or want adrenalin. But I found some good thing. Every day before trading I deposit 0.5 percent of my deposit to trading account and take tablet to trade. I cant deposit more. So I loose only 0.5 percent of that day. Another thing - I took trading psychology course, and began learning how through body language you can talk ith your inner child, teen, adult. In this case its teen. Very strange connections thruogh pictures, self talking...
Honestly if you have to restrict yourself like that you probably shouldn't be trading in the first place.
  • #25
  • Oct 26, 2016 10:23pm Oct 26, 2016 10:23pm
Quoting profitfarmer
According of his profile intro the guy is a professional trader from Nigeria... then start out that he want to beg for money on gofundme... draw your own conclusions, i had.
pathetic ..they're better in Lottery, Marriage, Funds transfer email Scam.
Never Gamble Forex
  • #26
  • Oct 26, 2016 10:32pm Oct 26, 2016 10:32pm
is it racist of me to say the worst traders are from Africa and the best traders are normally from s/e or south asia?

just an observation
  • #27
  • Oct 27, 2016 1:52am Oct 27, 2016 1:52am
Quoting He-Goat
''I am thinking of opening a gofundme account to plead for little cash to secure my rent which is due in 2months while I take up part time job to raise my school fees. I took a miserable gamble trying to get back some funds in the FX market following a 50 pips loss earlier, and I cant believe this happened to me... how can one really profit from this market, $1,343 gone..in hours...'' ---- chat from a fellow friend trader...
Sorry for your loss , how long did you demo and what was your risk percentage ?I feel newers have been ignoring the advice been mentioned here by pros and experts several times ''Don't trade in a real account till you have demoed enough taking your money management seriously'' .
Sincere advice to new traders ,these pros we see here all went through these phases or sort of as begginers whenever they share their experiences with tips on how to avoid such situations take into the mind and adhere to it .
  • #28
  • Oct 27, 2016 5:45am Oct 27, 2016 5:45am
Oh dear.. never risk what you can't afford to lose. As for the gofundme, I can't imagine many people will fund your gambling.
  • #29
  • Oct 27, 2016 8:52am Oct 27, 2016 8:52am
Quoting yesyoucan
{quote} pathetic ..they're better in Lottery, Marriage, Funds transfer email Scam.
If only you certainly know how foolish you're. It shows that you just signed in to FF, get into thread and insult people because of one trader from that particular country. So foolish of you. It means you did not go through the rules of FF concerning members. Instead of discussing trading related matter you jump into something else. I thought you are more profitable that the trader who started the thread. All your trades are in red. What is different between the owner of this thread and you. Show us and stop insulting people.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -64.9%
  • #30
  • Edited 9:45am Oct 27, 2016 9:01am | Edited 9:45am
Quoting hilmy83
is it racist of me to say the worst traders are from Africa and the best traders are normally from s/e or south asia? just an observation
What poll have you carried out? Posting crap here. Check what an African and a Nigerian can make from the current EURUSD Shooting Star of 3rd May, 20016. It's still running. Use your tongue to count your teeth. Market doesn't know where you're trading from. All of us look at the same setup/candlestick. We all hear and read same news and fundamentals in following the market movement.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -64.9%
  • #32
  • Oct 29, 2016 7:24pm Oct 29, 2016 7:24pm
Quoting He-Goat
''I am thinking of opening a gofundme account to plead for little cash to secure my rent which is due in 2months while I take up part time job to raise my school fees. I took a miserable gamble trying to get back some funds in the FX market following a 50 pips loss earlier, and I cant believe this happened to me... how can one really profit from this market, $1,343 gone..in hours...'' ---- chat from a fellow friend trader...
dude,thousand bucks are nothing, u will get used to it. it usually costs eight even ten years to be a professional trader.
may trend be with you
  • #33
  • Oct 30, 2016 11:00pm Oct 30, 2016 11:00pm
Quoting wentao
{quote} dude,thousand bucks are nothing, u will get used to it. it usually costs eight even ten years to be a professional trader.
How long are you trading for and where do you get this number? i think that is a personal question and people with the right strategy and A LOT of discipline can become profitable right away. (i am not saying i am one of them)

What i do agree on is that the Threadmaster took a gamble and should seriously consider his trading.

Reading tipp: Trading in the zone
  • #34
  • Oct 30, 2016 11:38pm Oct 30, 2016 11:38pm
Quoting MasterGuru
Be very grateful that you have lost only $1.3k which you can easily make back by taking some shifts at your local McDonald's or Burger King. And BE A MAN, work for your money and don't expect others to fund your gambling habit. It is so lame... A good friend of mine has spent 5+ years of full time trading (incl. 10,000+ hours of screentime) and eventually lost $200k+ total. After losing ALL her funds, her family's reserves and loans from friends, and having no hope of paying back the debts, she commited suicide... It is a true story which I have...

Scary...... why need to resort to this ...............

But your friend's case not the worst........ I think in Hong Kong or Singapore .... investment banker jumped off the building before for millions ...... Money is just paper eventually , hope people can open their eyes.
  • #35
  • Oct 30, 2016 11:48pm Oct 30, 2016 11:48pm
this is really scary. That is why i think the mental education is much much much more important than the analytical.
  • #36
  • Nov 2, 2016 11:20am Nov 2, 2016 11:20am
Quoting He-Goat
''I am thinking of opening a gofundme account to plead for little cash to secure my rent which is due in 2months while I take up part time job to raise my school fees. I took a miserable gamble trying to get back some funds in the FX market following a 50 pips loss earlier, and I cant believe this happened to me... how can one really profit from this market, $1,343 gone..in hours...'' ---- chat from a fellow friend trader...

Site disclaimer "you can lose all your invested capital in high-leverage trading" is something you should always keep in mind. Before entering this risky business you should be ready to lose all your capital. If you are ok with that (that is its not loan, critical family reserves i.e. money you afford to lose) then you can start trading and it will go much easier and won't put so high psychological pressure on you.
  • #37
  • Nov 2, 2016 11:35am Nov 2, 2016 11:35am
Trading with the money we can afford to loose mentality also has some psychological effect in our trading. It makes us take unnecessary risk just because we can afford to loose it and fund trading account again. Are we doing charity to our brokers? When you really value your capital and you know that it will pain you when you loose it, then you think about good setup, risk management and the effect of overtrading
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -64.9%
  • #38
  • Nov 2, 2016 12:29pm Nov 2, 2016 12:29pm
Quoting 9jatrader
Trading with the money we can afford to loose mentality also has some psychological effect in our trading. It makes us take unnecessary risk just because we can afford to loose it and fund trading account again. Are we doing charity to our brokers? When you really value your capital and you know that it will pain you when you loose it, then you think about good setup, risk management and the effect of overtrading
I do agree with you on this 100% - if an account is funded for the business of trading then at no cost should one be lax in following the principles for growth. The notion of trading with money you can afford to loose probably just encourages recklessness because you don't care to loose the money anyway - and in some way not enabling one to fully develop themselves into a professional trader.

If you are in the business of playing with the markets, pretty soon the well you draw from those small deposits will run out.....why not just demo...if you want to test a new strategy or just trade for the thrill of it on a live account - which i prefer for physiological purposes - trade small, almost all brokers accept deposits of $10 - if you cant grow a very small account don't dream of making it with a huge account - i succumbed to this fallacy quite a few times. All you need to succeed is within you.
Stop fighting, let it go......you will be surprised..
  • #39
  • Nov 3, 2016 3:26am Nov 3, 2016 3:26am
Quoting venzen
Sorry about your loss. Every determined trader experienced this, multiple times, until you realize that you should only risk money you cannot afford to lose. One fact of learning is that we learn by making mistakes. The fact of trading is that when we make a mistake in the market, it costs us money. So, the only way to learn about trading and markets is to lose money. Strange fact eh? The logical strategy is to only trade with small amounts (say, $100) and to attempt to double your account. Along the way you, you will make all the mistakes that...

I've seen quite a few people on FF recommending babypips.com to beginners. Do You think it provides enough knowledge to start trading?
I'm a beginner, just started learning about Forex, technical analysis, economy in general...
I've been reading John J. Murphy's 'Technical analysis of the financial markets' which has 500+ pages and haven't even started demo trading. After that I plan to read few books about psychology of trading.
The thing is, I feel as if I will never start trading couse of the amount of literature I have inflicted on myself, but on the other hand, I am too scared to start without reading everything ever written about forex (I'm bit exaggerating, but You get the picture).
So the question is - does babypips.com provides enough knowledge to start trading or should I stick with my 500+ pages?
Thank You in advance for Your help!
  • #40
  • Nov 3, 2016 8:54am Nov 3, 2016 8:54am
Guys,

I've definitely had my fingers burnt like this before and have learned the hard way.

It is, of course, effective risk management. literally blew about 3k before I decided enough was enough! I'm learning with a trading education firm at the moment who are brilliant, they've taught me the importance of effective risk management and how to implement it! I'm so much more consistent with my profits now as I have a firm grip on all loosing days.!

Well worth getting a little help if your struggling, it worked for me
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