When I got into forex as a newbie I Gambled a lot taking stupid and unreasonable risks because I saw so many people making it in forex but didn't know how and what they are doing right that I am doing wrong. Because I was just blowing my account like it's nothing, I will use incredibly large lot sizes for my small accounts and before I know it there will be a little retracement and then my account will be gone so soon.
After some time I decided to make a little research and get a mentor so I won't be losing or blowing up my accounts, I watched YouTube videos, joined WhatsApp groups, followed so many traders on both Facebook, Instagram, and on Twitter, I even joined a lot of telegrams group in search for knowledge and a good mentor.
Unfortunately for me, I met the wrong mentor through one telegram group I joined, he was always posting his trades, where he was making thousands of dollars in a week, sometimes in a day I got hooked and chatted him up privately because I was really desperate then, I wanted to become a billionaire overnight I guessed he saw the desperation in and took advantage of it.
He told me he was really busy the period I chatted him up that he is not taking any new students but he could help me manage and grow my account for some percentage of the profit that he will make, there were different packages can't really remember them again because it was an experience I blocked out of my head and I try my possible best to forget, but I know it's either 50/50, 60/40 or 70/30 I can't really remember how he arranged them.
I was scared so to try him out and to see if he was legitimate, I transfer out almost all my money and I gave him my account at $100 in 3day my account was like $150 or $180 I can't remember, so we shared the profit as plan then I gave him the account again he grew it a bit and then I put in back all my savings at that time, so he could trade and make us both rich, he is someone that trades without stop loss or take profit, I could say he is a gamble a good one at that I guess for the first time until the ultimate showdown happened.
Sometimes I would wake and see my account at -$700 I will call him he will tell me that it will come back I would be scared but just want to trust him because he is a so-called pro trader that he knows what he is doing but trust me he was just gambling I wish I knew earlier.
When I later check and see like +$10, he will be like, I told you I know what am doing, one day he lost $1k from my account and told me he was going to make it back I was pissed but at that point, I have lost a lot so I allowed it, after like 3 weeks he made back my $1k with something small on it, I thanked God but out of greed I gave him the account again to trade then the worst happened he blew my account telling me that it was not him that did it at first, after so many shout and arguments he said that it was his mentor that plugged a robot to trade my account, I was just so pissed and upset because there not I could do I didn't even know where he lived or have his contact information, I had to start all over again but these time I switched to crypto and had to learn first so I can trade for myself.
my advice is that you learn how to trade yourself, so you don't fall for all these so-called pro traders online. Thanks Guys For Reading My Post And Experience.
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Yes, just take it as the lesson it was. There were plenty of warnings signs, but now you know going forward.
Your post is being curated as part of the minnow support initiative.
Also, I do cypto charting on my leofinance posts.
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It's a lesson I won't forget but I have learned from it, I actually saw the warning sign but I dismissed them because I was desperate them, I'm not anymore.
Thank you so much, I really appreciate it.
I will be looking out for them now .
Damn I'm sorry you had that experience. Great lessons to be learned here though. First - never trust anyone with your money. Especially if you don't know them. Second - I don't care if someone says they're a pro trader or not. No one can guaranteed make money trading. I hope you recover easily.
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I learned my lesson the hard, but I'm wiser now.
Now, I only trade for myself by myself, gain or lose by myself.
Thank you, I'm recovering fine.
Hello @onwugbenuvictor good job, hugs
Thank you so much.
See me here feeling really bad. But which successful man didn't experience major lessons?
I guess we have to learn the hard way now so not to be wrecked later.
Yes dear, I have learnt my lessons.
My heart fell when I read the title alone😢
If only you knew, would've cashed out that 1$k and moved on. We learn through experiences and thank you for sharing this experience, I will never do this😅
If i ever want to trade, I will learn how to trade by myself as you've adviced.
Much love to you ♥️🤗
Greed covered my eyes and thinking.
I sure did learn my lessons, my pleasure and please don't.
Trading for yourself is the best, thank you so much.
I remember vividly when this happened. I'm glad you learnt the lesson in the end, I only wish you didn't have to lose your money. This was very enlightening.
Thanks dear, I'm wiser now.
Great lessons here for people trying to go into trading; be it crypto or forex.
I have had my fair share of loss through greed in my early learning days. I made a lot of mistakes; bought fake robots to trade forex, made several losses when I decided to trade on my own after some series of wins (beginners luck), had more knowledge without practical and had problems learning and unlearning.
Now I know better and make wiser decisions.
Thanks for sharing your experience.