This is such a sad story. I am curious to know how it turned out for this guy tho. We must be careful with Forex trading. It is very risky, but one can avoid this kind of loss if all the rules are followed.
Same here, I am curious to know how is he holding up. I have always said it, if you cannot take a good look at your disciplined trading, you will never grow
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sad is when a child dies at a tender age
I love the statement, that is what most traders fail to understand, whether you start a business with $1m or $1k if you don’t know the business you’ll fail, but if you know it you’ll make profit and progress.
Happy trading folks
How are you doing now? Years later…
Was just wondering the same thing. Hope he is making some progress in his life.
So many people are curious to know how it’s going for him. I think his situation is the biggest lesson for us, we know these are some most obvious things but we still ignore them. And see how he lost everything by using high leverage and not practicing on a demo account for sufficient time. Only we know how well prepared we are, no one can tell us when to go live or when to continue practice.
Don’t compare yourself with others. If someone goes live after 4 months, that doesn’t mean you are also ready for this. One should never be in a hurry to start trading with real money unless you are really confident. If you do this, it is gonna cost you dearly.
That’s a scary proposition.
I can’t imagine how bad they feel 
After years of hard work and saving.
Chasing trading success can have huge pitfalls
Of course, every trader needs to develop skills using the demo platform. It will be able to reduce the loss.
The initial post was made in 2013, I wonder what happened with that person since then.
You can return to trading only if you learned the lesson out of your losses. If you choose to close your eyes on your past experience and continue trading without any alterations to your trading strategy, then you are going to lose even more. So, your objective number one is just to analyse your trading experience in detailed way and correct your mistakes, only after it can you return to trading.
Yes, demo trading is very important before you start trading with your real money.
I’m so sorry to hear that you lost so much money. I’ve lost some but never to that degree, so I can only imagine how it feels.
As for blaming your wife, it sounds like maybe she was just trying to motivate you to go live because she believed you were ready. I don’t think you should blame her for that as she didn’t force you and may not have realized how easy it is to lose that money.
I understand why you’d want to give up, but maybe you could go back to demo for a while? Work to figure out what went wrong and why you lost so much. On the other hand, if you feel totally disinterested and fed up with trading, you probably won’t be in it 100% and that wouldn’t be good.
Whatever you decide, I’m wishing you luck and hope things turn around for you!
I feel for you, was in a similar situation but with a lot less money. Your time will come again and just treat this as an expensive college course.
Demo trading is really important. From where proper education can be gained.
That is why I always say that the beginners shouldn’t trade with the leverage. Due to all respect, I don’t think that anyone should listen to their wives if they know nothing about trading and finance. So, if you ever happen to return to trading, you’d better follow the advice given by professionals and avoid taking huge risks.
That is a good representation of what is going to happen when people start trading huge lots without proper knowledge. I don’t know how about you, but it was very scary for me to stat trading to the full even after some experience in demo trading and trading live with the small sums. I have no idea how one can start trading their savings right away without hedging their risks. More than that, how could a person keep on trading the same way even after they lost $10000. Before going to any kind of investing, you’ve got to learn personal finance in order not to be left with no money in your pocket and without the job. I just cannot understand this whole thing.
Though it is almost a decade since this thread was created I think the lesson that should be learnt from this is timeless. Thread starter had no idea what he was doing. He overleveraged his account, kept hoping and losing, did not seek any advice from those with experience in the business except from his wife who was not a trader.
I hope he overcame his challenges and is faring better.
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Whether or not the original story really happened, it does drive home the message “think risk” when embarking on trading. A common piece of advice for cooking scrambled eggs is “low and slow”. Not bad for Forex trading as well😁
Don’t leave forex and try to recover what you have lost so far. Leaving won’t bring blessing for you.