Hello there guys, 99.7% of traders lose in Forex Trading. Hedge Fund Philadelphia Financial published a study in which he compared the trading in the Forex currency market with gambling. According to the research, 70% of clients lose their money quarterly, trading in the Forex market, and 100% lose their funds less than annually. Philadelphia Financial's opinion is shared by ASIC, the Australian Securities and Investment Commission, which legalized gambling. In the summer of 2011, ASIC published a report in which a warning was issued that trading in Forex is the same gamble as in a casino or bet on a racetrack, and can entail unlimited losses. As for the whole range of investment services, then trading in the Forex market is the most expensive of its kind, the Forex trade advertising consists of excessive promises and does not warn investors about the risks. Practice (global international survey on affordable forex brokers) shows that in three years only 0.3% (!!) of traders remain in positive territory: FX is a ruthless tool for selecting (your) money! FX - fraud, A professional trader is as much a shark as a professional poker player! Just decide for yourself whether you need it or not!
18 y/o, losing money trading is a good lesson to learn young. Hopefully you got some speeding tickets and had a girl treat you bad too ...
I am sorry that you have lost money. Losing is a part of life. You do not have to curse and blame anyone for it. Own you mistakes and learn from them. Next time invest smartly. Remember to succeed in life, you must learn how to fail.
People have lost their entire savings in their forex trading life. Don't be disappointed in your losses. You knew the downfalls when joining the forex market. You need to have a positive outlook in life. Just forget the losses and trade with a fresh start.
It is disappointing to hear your story. Reminds me of a friend of mine who lost about $3000 worth of savings trading the forex market. This was in 2015. But he built himself up again after this massive fall. Reworked his trades and strategies and bounced back. It took time but it’s relatively stable for him now. What I am trying to say is that forex is a wildly risky and competitive market. You cannot assume that you won’t incur any loss. While you may have lost your savings you gained a lesson too. Start again and build up your confidence and skills. Design better trade plans. Manage your money and risk well. Don’t lose hope.Good luck!
You can listen to the rants of a highly emotional loser that assumes everybody must lose because they did. Or you can follow the facts: https://investors.interactivebrokers.com/en/index.php?f=3731
To be fair, though, IB accounts are in no way representative of industry figures at all. Whenever proportions of profitable/unprofitable accounts have been published, IB's percentage of profitable accounts has always been close to 50%, but this is WAY above what's representative of the industry. So, "facts", yes - but very highly selected ones, and with a selection process that's both highly relevant and highly significant. If you look at other forex "brokers", i.e. counter-parties, which almost all retail forex traders are using, the story's very, very different.
Same ASIC issued recently a statement that says only 63% of forex traders are losing money. Its far from 99% so don't buy those rumors and apply more efforts to improve your trading knowledge and you will be decently rewarded