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Nairaland Forum / Nairaland / General / Investment / A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? (1560 Views)
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A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by iwillteachucryp: 2:40pm On Aug 14, 2019 |
I already told how I lost my money in this gamer called Trading..Let me share another buddy's story... In his words... So, a few months back I saved some money and decided that I would be able to make a living out of forex making 12.5% per week, that was 2.5% per day from Monday to Friday. I had been in the Forex for six month in that time, with only $100 dollars account, and I had broke my account twice (One for not putting Stop-Loss and the other for not controlling my loss in revenge anger) But in the end I managed to make three months in a row making about 40-50% per month, and that was to me the sign that I had figured Forex. I used a combination of MACD, RSI, ADX. And always kept the lookout for the candlestick patterns, I also used Bollinger bands, but I never really checked them. My main Indicator though was the MACD, the rest was the confirmation I required. I negotiated only EURUSD and I worked with a 1:100 margin using a policy to hold 2,5% SL if I wasn't cofindent in the play but the indicators were saying I should go, and 5% if I was confident and the Indicators confirmed. I've made arrangements in my job and I saved enough money to live the way I am for one year and to put $2.000 in my Forex Account. My plan was to only start taking money out of the account after six months of gains. I quit my job in June, and 4th of July I started trading. First month I did well and got 50% even before the second week of the month, in the end of July I had $3.475,68 in my account. My confidence was high as was my spirit, everybody I talked too I would say how I found way to do something I loved and if I could keep my goals I would be a millionaire in less than five years; To everyone saying It was very risky I showed my gains from the first month and said I knew what I was doing. And then August came. First week of August I had three losses in a row, amounting to $400, and so I decided to take a quick break. One week reading and searching for what was wrong. When I cameback I had in me belief that I was going to make a good position on EURUSD. I don't know what I was thinking but I opened a position and I spike on the otherway around made me shiver so I moved the SL, believing it would eventually go the way I was planning; That day I went to bed and woke up with $1.000 less in my account, I was back to my starting $2.000 pretty much. What followed this week was the worst series of trade I ever did, each one pushing to lose even more. First I did a series of trades that downed me to $1.500, than I did a big trade that put me at $800, I managed to land a very good trade that took me all the way back to $1.400 and trying to duplicate the miracle I lost $800 in one single trade. Yesterday I lost $500 and right now I have $72 in my account. I don't know what I was thinking, I completely lost any of the things that made my set-up work, and now I've lost any chance to go back to where I started. I was overconfident and angry, and I know I have only myself to blame. I just needed to vent it to someone, and the worst part is that I'm ashamed to tell the people I've been bragging about the past month, to admit that I was not only wrong, but I lost everything on it as well. This story reminds me how I was over confident and lost more than $1000+ While people are losing like HELL in FOREX, others are making money - as beginners because you can't learn to trade Forex and win as a beginner consistently in 5 months... but beginners are making money because it's a copy and paste method of learning how to use the Trading App, not FOREX - just SIGNALS. You see, we all need that breakthrough from 9-5 work...I mean, who does not want to make extra income. But it is not wise to quit your job and start doing what you don't even understand... On the flip side...it is wise to come back from work at 5pm, relax, start trading using our Signals anywhere from 8pm to 2am. This way you can quit your job easier when the result blows you out. We have a Community already to join and learn more. #no monthly subscription nonsense... See link below...Updates comes up evening... Click to Join - https://docs.google.com/document/d/1SpxrewsFbaNMLYAGfGDfsPN3IVX9Kr-lA_kD_tvKcrY/edit?usp=sharing If you are trading Forex alone...make sure to use STOP LOSS, Kick out Over Confidence and do not FOMO...
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Re: A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by megafaraday(m): 2:50pm On Aug 14, 2019 |
Free community but with 250k sign-up fee 1 Like |
Re: A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by Isuachrist: 2:55pm On Aug 14, 2019 |
megafaraday: Lol. How is the Program, I heard it's great though. 1 Like |
Re: A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by aycapri(m): 3:46pm On Aug 14, 2019 |
megafaraday:good afternoon, am interested. Can I chat you on WhatsApp? |
Re: A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by megafaraday(m): 3:48pm On Aug 14, 2019 |
Isuachrist:Na who don join go fit talk. I ain't there so can't say 1 Like |
Re: A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by megafaraday(m): 3:48pm On Aug 14, 2019 |
aycapri:It's the OP you should contact for that 1 Like |
Re: A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by iwillteachucryp: 10:57am On Aug 15, 2019 |
aycapri: Yes, click in to chat with me... |
Re: A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by ThaThinka: 11:28am On Aug 15, 2019 |
megafaraday: Isn't that funny? I knew there has to a catch. It is capitalism. Not that there is anything bad about paying; the worst is that you might not even get value for your money |
Re: A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by megafaraday(m): 11:32am On Aug 15, 2019 |
ThaThinka:Exactly. I'd rather spend that amount on training to generate my own signals. |
Re: A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by iwillteachucryp: 1:15pm On Aug 15, 2019 |
megafaraday: Brother, I understand you and I GET IT... Imagine that people were begging for this stuff to come down from #250k to #150k, which the Expert did to accommodate more people while raising funds for one sick guy... Truth is, there are rooms paying #70,000 monthly yet you can't get what Waju offers... Follow your instinct though because I know what Trying the shit of trading myself means...$1000+ went on like that.... However, if you have a proof giving place to get the RIGHT signals, do, not some nonsense #10,000 signals... (I will be posting proofs soon in the room)... But if you think I as I did you can do this on your own without YEARS of mastering it, answer the following questions... -What is the difference between a market order, a stop order, and a limit order? -How do you draw a support/resistance line? (Demonstrate it to yourself) -What is the difference between MACD, RSI, and Stochastic indicators? -What is fundamental analysis and how does it differ from technical analysis and price action trading? -True or False: It's better to have a broker who gives you 500:1 margin instead of 50:1 margin. Be able to justify your reasoning. If you can answer all those without thinking twice then you are ready to try FOREX on your own - First level... (This is a one-time stuff, not a vague Forex noise you hear everyday)...PM for Proofs if you want...but answer all those... |
Re: A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by megafaraday(m): 12:18pm On Aug 16, 2019 |
My point is why pay that much to be dependent on someone? What happens if he's indisposed and unable to send out signals? What happens if the strategy somewhat fails? |
Re: A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by WordpressPhysco: 7:01pm On Aug 16, 2019 |
Okay. Will see it. |
Re: A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by enolife2(m): 7:28pm On Aug 17, 2019 |
iwillteachucryp:This is a cook up story to deceive people to buy your useless signal. A trader who plan to survive and live a free life through Forex will not be thinking of making 12% per week while professional trader only thinking of making 2% in 2 weeks |
Re: A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by Aeman(m): 11:09am On Aug 18, 2019 |
https:///AlSoz86OnGa5y9QjAAyOQN. Check out this channel you will never regret it. |
Re: A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by WordpressPhysco: 2:43pm On Aug 18, 2019 |
Are you sure? Have you checked the room and chatted with him? |
Re: A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by iwillteachucryp: 6:25am On Aug 19, 2019 |
Guys, you will love this...good morning Take this survey now if you are ready to make money with Forex. No quick rich scheme of course. https://docs.google.com/forms/d/e/1FAIpQLSfUHzQtaB6YN1_iP5gN6_FaEAPdKZJ53t6qtO2BBYbNn__IwA/viewform?usp=sf_link |
Re: A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by Steven888(m): 8:11am On Aug 19, 2019 |
enolife2:I extremely agree with you. A professional trader earns 12.5% / week and is selling signals. Ridiculous. |
Re: A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by Adbiz(m): 12:36pm On Aug 19, 2019 |
Nawao, ogao! One wants to go into fx, all you hear every single day is confusive and discouraging words. Nigerian making it extremely difficult for someone to make a dime on the online business... Black race is a problem I swear. As a result, I believe those who are making it real big are not even on social media to brag about their success. God, pls show me the way please. #nevergiveup. |
Re: A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by Nobody: 1:05pm On Aug 19, 2019 |
I blew my account too But now, u am comfortable giving my money to a trader to trade. 20% profit monthly 1 Like |
Re: A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by WordpressPhysco: 4:50pm On Aug 19, 2019 |
Don't give up. Just know get the right person to mentor you, not as a trader but as a student-signaler trader. Get started here - https://docs.google.com/forms/d/e/1FAIpQLSfUHzQtaB6YN1_iP5gN6_FaEAPdKZJ53t6qtO2BBYbNn__IwA/viewform?usp=sf_link |
Re: A Man Went From $2,000 To $72 Trading Forex - Was He Witch Crafted??? by iwillteachucryp: 11:45am On Aug 20, 2019 |
Let's talk about Forex Market Size And Liquidity Forex Market Size And Liquidity Unlike other financial markets like the New York Stock Exchange (NYSE) or London Stock Exchange (LSE), the forex market has neither a physical location nor a central exchange. The forex market is considered an Over-the-Counter (OTC), or “interbank” market due to the fact that the entire market is run electronically, within a network of banks, continuously over a 24-hour period. This means that the spot forex market is spread all over the globe with no central location. Trades can take place anywhere as long as you have an Internet connection. The forex OTC market is by far the biggest and most popular financial market in the world, traded globally by a large number of individuals and organizations. In an OTC market, participants determine who they want to trade with depending on trading conditions, the attractiveness of prices, and the reputation of the trading counterparty. *Because two currencies are involved in each transaction, the sum of the percentage shares of individual currencies totals 200% instead of 100% The dollar is the most traded currency, taking up 84.9% of all transactions. The euro’s share is second at 39.1%, while that of the yen is third at 19.0%. As you can see, most of the major currencies are hogging the top spots on this list! The Dollar is King in the Forex Market You’ve probably noticed how often we keep mentioning the U.S. dollar (USD). If the USD is one-half of every major currency pair, and the majors comprise 75% of all trades, then it’s a must to pay attention to the U.S. dollar. The USD is king! in fact, according to the International Monetary Fund (IMF), the U.S. dollar comprises roughly 64% of the world’s official foreign exchange reserves! Because almost every investor, business, and central bank own it, they pay attention to the U.S. dollar. There are also other significant reasons why the U.S. dollar plays a central role in the forex market: • The United States economy is the LARGEST economy in the world. • The U.S. dollar is the reserve currency of the world. • The United States has the largest and most liquid financial markets in the world. • The United States has a stable political system. • The United States is the world’s sole military superpower. • The U.S. dollar is the medium of exchange for many cross-border transactions. For example, oil is priced in U.S. dollars. Also called “petrodollars.” So if Mexico wants to buy oil from Saudi Arabia, it can only be bought with U.S. dollar. If Mexico doesn’t have any dollars, it has to sell its pesos first and buy U.S. dollars. |
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