The purpose of this website is to be a place for learning and discussion. The website and each tutorial topics do not encourage anyone to participate in trading or investment of any kind.
Any information shown in any part of this website do not promise any movement, gains, or profit for any trader or non-trader.

.

Author Topic: My sad journey in Forex  (Read 150 times)

Cadray

  • Guest
on: June 01, 2023, 10:20:24 AM
Hello everyone. My name is Cad. I am very new to forex. My story is sad I would say. A friend of mine started trading because I needed money fast to settle my late brother's debts before the end of August. He promised that I would be able to make money before the end of the month so that I could pay. So I started looking for the $2,500 I needed to earn. He promised me that he would give me profitable signs and guide me. I was really excited, so I just deposited my $600 savings. He said he would help me in business. But it only took one week, and my account went from $600 to $46 now. And I'm even more desperate, because I don't know what to do at all and the end of the month is near. I decided to learn a few things myself, so I searched online and contacted. I started learning and I'm in primary school now. I'm slowly learning now, but I don't know if I can get $2500 with the $46 I have left before the end of the month, and I can't add more money because I'm broke, this was my life savings. I'm afraid I'll trade myself and lose the remaining $46. But I am also desperate to have that money by the end of the fourth month. From the little I've learned so far, I know it's nearly impossible to raise $2,500 with $46 in less than a month. I am posting this because I need advice from experienced traders on what to do now. I'm upset!



AmbroseEet

  • Guest
Reply #1 on: July 28, 2023, 06:06:13 AM
Unfortunately, this is what many people think about Forex. When I meet new people and they ask me what you do or what you do, I answer: I work in Forex. Then I heard, okay. You lie to people, ruin lives, blah blah blah.
I wrote here about this issue. I will write again here. You can't make $2,500 from $600. The chances are the same (or even lower) if you buy a few lottery tickets for that $600. Expect a maximum net income of 10-15% per month. All of the above are very questionable and difficult to achieve in the long term.
If you are new, never use your savings and never take credit to trade in the Forex market. The possibility of losing all your money is very high. And never expect quick profits!



AnthinyCaply

  • Guest
Reply #2 on: February 28, 2024, 08:17:31 AM
The market is not about making quick money. And let's be honest, trading is a rich man's game.

Although you can earn some money even with a small amount, you have to realistically trade the capital you have.

See if you have $100,000 to trade at 20% a year for $20,000, you can do that quite easily with experience and strategy. But that's over 12 months.

Unfortunately, 20% of $600 is about $120 for the year. Can you earn more than 20% in a year, sometimes you can even earn 20% in a month but more than double your money in a month? This is highly unlikely and would not be highly repeatable.



 

Related Topics

  Subject / Started by Replies Last post
0 Replies
10861 Views
Last post August 30, 2018, 12:34:00 PM
by Hurpecial
0 Replies
1224 Views
Last post February 07, 2019, 12:00:17 PM
by NadiaWits
1 Replies
1361 Views
Last post November 06, 2019, 02:02:45 AM
by woody
1 Replies
1939 Views
Last post July 06, 2020, 12:33:38 AM
by Solire
17 Replies
1297 Views
Last post February 05, 2022, 02:51:12 PM
by Randy Padillo


-

Discussion Forum / 论坛 / منتدى للنقاش/ Diễn đàn thảo luận/

-
Disclaimer : The purpose of this website is to be a place for learning and discussion. The website and each tutorial topics do not encourage anyone to participate in trading or investment of any kind. Any information shown in any part of this website do not promise any movement, gains, or profit for any trader or non-trader.

By viewing any material or using the information within this site, you agree that it is general educational material whether it is about learning trading online or not and you will not hold anybody responsible for loss or damages resulting from the content provided here. It doesn't matter if this website contain a materials related to any trading. Investing in financial product is subject to market risk. Financial products, such as stock, forex, commodity, and cryptocurrency, are known to be very speculative and any investment or something related in them should done carefully, desirably with a good personal risk management.

Prices movement in the past and past performance of certain traders are by no means an assurance of future performance or any stock, forex, commodity, or cryptocurrency market movement. This website is for informative and discussion purpose in this website only. Whether newbie in trading, part-time traders, or full time traders. No one here can makes no warranties or guarantees in respect of the content, whether it is about the trading or not. Discussion content reflects the views of individual people only. The website bears no responsibility for the accuracy of forum member’s comments whether about learning forex online or not and will bear no responsibility or legal liability for discussion postings.

Any tutorial, opinions and comments presented on this website do not represent the opinions on who should buy, sell or hold particular investments, stock, forex currency pairs, commodity, or any products or courses. Everyone should conduct their own independent research before making any decision.

The publications herein do not take into account the investment objectives, financial situation or particular needs of any particular person. You should obtain individual trading advice based on your own particular circumstances before making an investment decision on the basis of information about trading and other matter on this website.

As a user, you should agree, through acceptance of these terms and conditions, that you should not use this forum to post any content which is abusive, vulgar, hateful, and harassing to any traders and non-traders.