I was just curious to know what is your worst experience or maybe regret in Forex market?
Maybe once you revenge traded or maybe you got to greedy.
or maybe you went live so quickly with no education.
I always like to hear people’s experience and learn from them.
I realise after three years that I am too emotional to become a pro trader, just an also ZEN runner with a 3k live account. Fortunately, I am in the green most months, even if it’s only a few dollars a time.
Finding out that you are emotional is your worst experience?
I was trading today (though i can close current trades)Im suspended until I show bank statements of savings , earnings ect, this after trading with a well known broker for four years.This was a decision from the "client lifecycle analyst ’ apparently he based in India.
I don’t know what to say mate.
Withdraw your money and go elsewhere ! - Please let us know what broker this is - so we can all avoid them !
IG ,yes it’s a disgrace there is a guy on the forum, said he has been with them 15 years, this is out the blue and said he dose not fit their criteria anymore as his earning s/ savings, is not compatible with his account. Though he says he has never struggled with margin and always financed the account
Hahaha. I have a lot of these horror stories. Getting locked out of my account was hands down the worst experience for me. I was at the verge of crying cause I thought I’ve been hacked. But I was just inputting the wrong pw. That forced me to use LastPass. HAHAHA
Omg. I thought that would never happen if your broker is with any of these big ones. So sorry to hear! Will you be submitting all the docs they’re asking for?
To an extent maybe, not everything why should ! .I’m not actually in employment at the moment as one of my roles is supporting a parent with Alzheimer’s.(far more stressful than trading)
I’ve never had a problem funding my account and let’s say the average account people open is £2000, my account higher than that (nothing to with account size)I have an idea how brokers make money.Lets say they would "warmly "welcome a raw gung ho newbie with excess funds,rather than a more experienced trader who trades conservatively.
Another guys wrote this
Do you think I should inform @@ of my toilet schedule, sexual proclivities and Voting Intentions to see if I am still a qualified to hold an account.
87.5 % trading CDFs will lose money
But your still especially, very welcome
Jumping into real accounts. I made some (lucky) profits on my demo account and I felt like that I am ready to enter the real account trading as well. It was a trap man :)) Losing real money was bad…
Same here girl same here
Oh my, I’m so sorry. How long has it been? I’ve heard so many stories of children having to put their life on pause because of this. Are you getting additional/necessary help and support?
How can they tell the difference between new and experienced?
Hopefully it wasn’t a significant amount of money!
No it was like $100. But losing real money while I was making good profits on my demo accounts was a nightmare
It’s probably a simple question but not so easy to answer . Obviously they know how many trades I have done over the years .Though what if I just started out ?
You not trading impulsively or v selective when you choose an entry, or the choice of size when or where .You might have two trades open one is losing whilst the other profiting.Edging bets.
The company are very “nice people” when you open an account, Nice lad in London who says he your mentor FOR ONE DAY. Customer support now is non existent .all overseas, who avoid giving you an answer but just a manuscript.
Avoid this company.like a Plauge !!!
It’s not 1974 anymore
I’ve been scrutinized as well. But IG is not the only one. Forex.com is doing the same thing. There was a new law regarding money laundering, so these brokers had to change their policies. It sucks.
Especially when you’ve never had a problem, and now all of a sudden you do. My account was totally fine, then all of a sudden I had to show all kinds of paperwork that I didn’t have to present before. But, other brokers were doing the same thing, so, whatever.
Thanks for the post ,good points.All we are asking for is transparency then instead of crap
Yeah it’s annoying, but it’s just about money laundering. They have to verify where the money came from and where it’s going. If you fund your trading account from checking account 12345, but want to withdraw and deposit your money into checking account 67890, that could be suspicious.
For retail traders dealing with less than $10k, or even just $500, it seems unnecessary. But the same scrutiny would apply to an account with $250k. And in that case the rules could prevent some money laundering for a dangerous/illegal purpose.
But when your account only has $1,000 you don’t see the need for it.
Just like at the airport. You’re not dangerous. You’re just taking a short flight to visit a friend. But you still have to go thru a very strict security line, just as if you were dangerous.