Just lost 5k$

LightBrown said:
Yeah it stopped. I’m so f*in pissed because I was grindin this 5k for weeks... :(
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Man I know it sucks. I'd say don't beat yourself too much. The markets entice us all. It is not just you. Just try to learn from this. You are in IM right? Can probably make up that money back right? If this is the case then you are not done. You can pull yourself from this and start over but this time thr right way. I'd say leave trading for now. Take a small break maybe 2 weeks or a month. Then work on YOU.

When you are ready to start working on YOU, I'd say now is the time to start taking a closer look at what you are doing. If you really want to trade start with your education, I mean your trading education. Beware the learning curve very long I am talking years, maybe 3 years. I am saying this to let you know what you are attempting to do if you want to do this right. Because nobody will tell ypu this because gurus want to selll you this idea that you can make millions from the markets overnight, not true. Learn and study hard each day, but most importantly learn the correct things. When I say the correct things I don't mean patterns, triangles, more TA..etc I mean what really moves the markets. This might take a few years for some to understand. Not saying this to discourage you but to enlighten you of the reality of trading. Then when you feel you are ready start demo trading for 4 - 6 MONTHS, if you manage to grow your paper account and survive these months ONLY THEN start and start very small, maybe $100-200 (with your IM money) and trade that for another 4-6 MONTHS if you can survive that ONLY THEN you can employ a more significant amount (5k and more). I am not the best when it comes to giving advice but I am trying my best to show you how you should go about it. Let me know if you need anything.
 
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LightBrown said:
Or unless you like gambling..
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Even with a stop in place it could have zipped past it and you could have lost money.

Maybe not as much but certainly some.

Gamble if you like to do that but gamble with more knowledge.

Buying puts and calls is much safer and still gambling so you'll still get your fair share of a rush.
 
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LightBrown said:
Oh, I thought the question was did It stop before negative balance. Unfortunately no, I didn’t have a stop loss.

I woke up with a loss today and I tend to tilt easily.. the rest you guys can figure...
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Huge mistake OP. Still dont beat yourself. I myself was taken for a ride by a binary options broker and lost money myself. It happens to all of us.
 
DonPato said:
Man I know it sucks. I'd say don't beat yourself too much. The markets entice us all. It is not just you. Just try to learn from this. You are in IM right? Can probably make up that money back right? If this is the case then you are not done. You can pull yourself from this and start over but this time thr right way. I'd say leave trading for now. Take a small break maybe 2 weeks or a month. Then work on YOU.

When you are ready to start working on YOU, I'd say now is the time to start taking a closer look at what you are doing. If you really want to trade start with your education, I mean your trading education. Beware the learning curve very long I am talking years, maybe 3 years. I am saying this to let you know what you are attempting to do if you want to do this right. Because nobody will tell ypu this because gurus want to selll you this idea that you can make millions from the markets overnight, not true. Learn and study hard each day, but most importantly learn the correct things. When I say the correct things I don't mean patterns, triangles, more TA..etc I mean what really moves the markets. This might take a few years for some to understand. Not saying this to discourage you but to enlighten you of the reality of trading. Then when you feel you are ready start demo trading for 4 - 6 MONTHS, if you manage to grow your paper account and survive these months ONLY THEN start and start very small, maybe $100-200 (with your IM money) and trade that for another 4-6 MONTHS if you can survive that ONLY THEN you can employ a more significant amount (5k and more). I am not the best when it comes to giving advice but I am trying my best to show you how you should go about it. Let me know if you need anything.
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Thanks for the words, bro. :)
 
DonPato said:
Huge mistake OP. Still dont beat yourself. I myself was taken for a ride by a binary options broker and lost money myself. It happens to all of us.
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Binary options is the financial version of satan. Never traded them and never would, but it's another level. I've worked with an exchange that provided 500x leverage.. it really is stacked so far against traders with BOs or insane lev.
 
VSYNC said:
Binary options is the financial version of satan. Never traded them and never would, but it's another level. I've worked with an exchange that provided 500x leverage.. it really is stacked so far against traders with BOs or insane lev.
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Yes I know. That was way back when I first learned about there is something called trading.
 
VSYNC said:
Such a trap, honestly. Binary options earned the name it made for itself.
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Binary and someone in there 20's with a nice fund is a bad bad mix.

Been there done that, invest your money for the long term. Play around with a budget for short term.

Simple finance
 
Sorry to hear and can be super discouraging when trading.. The swings can be great, my neighbor was down $27k last year and in two weeks was up $15k... I don't have the heart for that game, nor the money.
 
dotc0m said:
Binary and someone in there 20's with a nice fund is a bad bad mix.

Been there done that, invest your money for the long term. Play around with a budget for short term.

Simple finance
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Honestly, binary + a human being of any kind = a bad idea, but particularly being ultra new to trading means BO is a catastrophic intro
 
If you don't know what you are doing.. don't use leverage.
Especially on Oil these days :D
 
I just lost 20€ worth of BTC on a casino, we can cry together mate :(
 
LightBrown said:
If anyone ever withdraws a profit from BTC casino let me know, bro. :D
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I did, 2 days ago. Deposit was 2 mBTC, withdrew 17. I had 27 on there, but ofc I got greedy.

My overall profit on BTC casino is 19 mBTC, and I've played a ton. Only small stakes, but still.
 
Other people lose their lives, yet, i don't see them posting online about it. LOL
 
Oil is extremely volatile at the moment for obvious reasons. I wont touch it but use/invest in USO and 'always have 'stops'. Its a tough gamble if you dont know what you're doing.
 
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