Some days ago it was reported here on nairaland how Seyi Akinade a forex trader committed suicide over SARS harassment..

https://www.nairaland.com/5809854/seyi-akinade-commits-suicide-over

It will never be well with this Sars men that have made life a living hell for genuine hustlers.. What's more baffling is why Nigeria government refused to do something about it....

R.I.P Seyi...


However, let it be clear that SARS is not the reason Seyi lost that 20k$..In one of his post before taking his life,he States that he had already placed a trade before the evil SARS men came,he was not able to check the trade till the next day,and at the end he lost about 20k..

Well,if you're a novice in this Field, you may not fully understand why I refused to blame SARS for the huge loss...

Let me explain...

In forex trading there is what we call STOPLOSS.It's one of the most important features every forex broker offers..This is how it works...... For example you want to place a trade like Seyi did,after you input the quantity of currency volume you want to buy you have the option of applying STOPLOSS before you place the trade....STOPLOSS indicates how much you want to lose in case the trade goes against you..

And even if you're not online, once the trade go against you to the level you want out,STOPLOSS will automatically take off the trade and leave your balance in your account.. But sadly many forex trader hate using this STOPLOSS. They don't want to lose any trade,they rather place the trade and let it run hoping it will comeback to positive even if it started out as negative...

This pattern of trading is the reason many trader are not having a fun time trading forex..Let's be honest,forex market does not pose any threat,but traders attitude is the reason many sees forex as a bad business...yes there is a real emotional rollercoaster because your physical money is involved.. But if you manage this emotional storms you're going to have a real fun time in this business...


The reason of this thread is to give a clear picture of how this business actually works....


Pls I am not against Seyi, neither am I supporting the evil SARS men,i just want to set the record straight..
I am not in Nigeria, so I don't train anyone on how to trade forex.How ever,I do encourage people to go into the business, with many free materials online you ca n become a good traders with time...Good luck to however wants to venture into it.

He died because of $20k...he ends up loosing $1000000....He was so foolish

nolywe:
He died because of $20k...he ends up loosing $1000000....He was so foolish

Sincerely he made a wrong choice..Failure is a cost of finding success..