₦airaland Forum

Honestly I understand this may not be the right place to post this but I’ just want to vent since I wouldn’t dare tell anyone in real life. So sometime in May, I posted how I had lost 20 million naira trading memes coins.

https://www.nairaland.com/8416680/lost-20-million-how-move#135240397

That amount was a huge part of my networth and it nearly drove me crazy but some way I had belief, I could it make it back afterall there are a lot of traders who lose their networth and still make it back; so I kept on going and going … and the truth is the past two months has had me face horror. From a nigga who was worth 50 million naira plus in January, I can barely boast of 25 million naira now unless i include some of the Gadgets I acquired. I have been absolutely RINSED and now it’s starting to dawn on me that Just maybe I got lucky when I traded my account to about 35k usd and not necessarily because I am good trader …Because how can you explain that I am not profitable for 5 months, losing both time and money and facing immense heart pain and self doubt.

In another stream of thought, I blame myself for allowing my risk-appetite to increase, that was my greatest undoing. A nigga who use trade to $200-$500 with panic started throwing $3k and $5k on trades. Just last week I helped a businessman who was probably richer than me open a Binance account and I saw how careful he was being when transferring his $100 to and from exchanges showing he valued his money… how did I become so reckless?
Honestly I am not even trying to garner self pity, I want people to tell me I am foolish for blowing an amount of money that most people will never see till they die… and I want to read it maintain my abstinence stance… it’s funny how quickly it happened and I found out I was Worth 50 million plus around Jan and could be called rich and now at this levels, will I ever get back to the my networth all time high?

We shall see !!!!

SpreshMan:
Honestly I understand this may not be the right place to post this but I’ just want to vent since I wouldn’t dare tell anyone in real life. So sometime in May, I posted how I had lost 20 million naira trading memes coins.

https://www.nairaland.com/8416680/lost-20-million-how-move#135240397

That amount was a huge part of my networth and it nearly drove me crazy but some way I had belief, I could it make it back afterall there are a lot of traders who lose their networth and still make it back; so I kept on going and going … and the truth is the past two months has had me face horror. From a nigga who was worth 50 million naira plus in January, I can barely boast of 25 million naira now unless i include some of the Gadgets I acquired. I have been absolutely RINSED and now it’s starting to dawn on me that Just maybe I got lucky when I traded my account to about 35k usd and not necessarily because I am good trader …Because how can you explain that I am not profitable for 5 months, losing both time and money and facing immense heart pain and self doubt.

In another stream of thought, I blame myself for allowing my risk-appetite to increase, that was my greatest undoing. A nigga who use trade to $200-$500 with panic started throwing $3k and $5k on trades. Just last week I helped a businessman who was probably richer than me open a Binance account and I saw how careful he was being when transferring his $100 to and from exchanges showing he valued his money… how did I become so reckless?
Honestly I am not even trying to garner self pity, I want people to tell me I am foolish for blowing an amount of money that most people will never see till they die… and I want to read it maintain my abstinence stance… it’s funny how quickly it happened and I found out I was Worth 50 million plus around Jan and could be called rich and now at this levels, will I ever get back to the my networth all time high?

We shall see !!!!

I understand how you feel and the feeling of self doubt that creept in. I have lost a couple of millions in time past as well even though, never close to losing close to 20m at a go.

But, Keep believing and keep grinding broda!!!

Your emotion has taken over. Take a break to review your strategies and restore your confidence.

Your gains were not about you being lucky; others were losing about same time and there are two sides to every trade.

Give yourself time to rediscover what worked for you when the going was good.

Best best is to invest in some other areas of investment, those ones will keep your mind off your trade lost.

dawnomike:
I understand how you feel and the feeling of self doubt that creept in. I have lost a couple of millions in time past as well even though, never close to losing close to 20m at a go.

But, Keep believing and keep grinding broda!!!

That’s the issue my bro … how did I allow my to lose to 20 mil plus… knowing where I’m from and how hard it is to make money !

Bro keep your head up
I lost everything Down to zero
Brought car in 2019 and a land at an Estate
Now am gradually trying to get up looking for who to loan me $150
U see life take and life gives
Give up no join

ireti123:
Your emotion has taken over. Take a break to review your strategies and restore your confidence.

Your gains were not about you being lucky; others were losing about same time and there are two sides to every trade.

Give yourself time to rediscover what worked for you when the going was good.

Thank you

But ley me ask a question as a novice in Crypto but not in investment.

Why would you not buy and hold established coins like BTC which has historically averaged 50% since inception?
I feel that is a great way to steadily preserve wealth in coins.

ceelog:
But ley me ask a question as a novice in Crypto but not in investment.

Why would you not buy and hold established coins like BTC which has historically averaged 50% since inception?
I feel that is a great way to steadily preserve wealth in coins.

If you’re not rich yet and looking to get rich, u have no business with Btc .
Holding BTC is for rich people

dawnomike:
I understand how you feel and the feeling of self doubt that creept in. I have lost a couple of millions in time past as well even though, never close to losing close to 20m at a go.

But, Keep believing and keep grinding broda!!!

He should keep grinding

SpreshMan:
Honestly I understand this may not be the right place to post this but I’ just want to vent since I wouldn’t dare tell anyone in real life. So sometime in May, I posted how I had lost 20 million naira trading memes coins.

https://www.nairaland.com/8416680/lost-20-million-how-move#135240397

That amount was a huge part of my networth and it nearly drove me crazy but some way I had belief, I could it make it back afterall there are a lot of traders who lose their networth and still make it back; so I kept on going and going … and the truth is the past two months has had me face horror. From a nigga who was worth 50 million naira plus in January, I can barely boast of 25 million naira now unless i include some of the Gadgets I acquired. I have been absolutely RINSED and now it’s starting to dawn on me that Just maybe I got lucky when I traded my account to about 35k usd and not necessarily because I am good trader …Because how can you explain that I am not profitable for 5 months, losing both time and money and facing immense heart pain and self doubt.

In another stream of thought, I blame myself for allowing my risk-appetite to increase, that was my greatest undoing. A nigga who use trade to $200-$500 with panic started throwing $3k and $5k on trades. Just last week I helped a businessman who was probably richer than me open a Binance account and I saw how careful he was being when transferring his $100 to and from exchanges showing he valued his money… how did I become so reckless?
Honestly I am not even trying to garner self pity, I want people to tell me I am foolish for blowing an amount of money that most people will never see till they die… and I want to read it maintain my abstinence stance… it’s funny how quickly it happened and I found out I was Worth 50 million plus around Jan and could be called rich and now at this levels, will I ever get back to the my networth all time high?

We shall see !!!!

Problem was you were looking for 5x etc trading sh*t coins with no utility. It's the spirit of gambling. Better start a business with what's left and get sound advice on real investment options like buying shares in companies with good fundamentals, commercial papers of good companies etc

When we begin a journey, we stumble across something called the Beginner's Luck.
After that, the journey becomes more difficult. This is when a lot of people stop or give up. But that's just life. The fact that you did it once also means you can do it again. You just need to persevere.
True respect is given to people that never give up, especially because we all know how difficult it is to stay the course and emerge victorious.

This is what we call the gambling addiction. Chasing losses and all. It's all a game. Forex i betting is no different from sport betting

ZeemsPropeties:
When we begin a journey, we stumble across something called the Beginner's Luck.
After that, the journey becomes more difficult. This is when a lot of people stop or give up. But that's just life. The fact that you did it once also means you can do it again. You just need to persevere.
True respect is given to people that never give up, especially because we all know how difficult it is to stay the course and emerge victorious.

I pray man! I mean I understand and have also read stories of people who persevered … but I’m scared at these levels … Going lower gonna send me into poverty and in the same vein: im thinking “do you I let go?
how would I get rich if not trading ?

SonofElElyonRet:
Problem was you were looking for 5x etc trading sh*t coins with no utility. It's the spirit of gambling. Better start a business with what's left and get sound advice on real investment options like buying shares in companies with good fundamentals, commercial papers of good companies etc

I own that …

ZeemsPropeties:
When we begin a journey, we stumble across something called the Beginner's Luck.
After that, the journey becomes more difficult. This is when a lot of people stop or give up. But that's just life. The fact that you did it once also means you can do it again. You just need to persevere.
True respect is given to people that never give up, especially because we all know how difficult it is to stay the course and emerge victorious.

And moreover I was or I am not a beginner… I went through a learning curve all through 2024 and the associated losses and moments of pain and loneliness and darkness.
I just don’t how I slipped and found my in the losing streak

I

When they say diversify your investment don't put all your eggs in a basket 🧺
I believe if you are investing in a risky investment, you just have to do it right by knowing how to minimise your risks. Let's say I have 1M to invest in a risky dangerous investment that could wipe my investment if I loose, I will adopt the concept of half-life, I'll split my money into two 500k for the risk 500k as safety net, if I should go again I'll only put 250k of my 500k left, I'll just keep splitting it till it finishes common sense go don whisper into my hear

SpreshMan:
I pray man! I mean I understand and have also read stories of people who persevered … but I’m scared at these levels … Going lower gonna send me into poverty and in the same vein: im thinking “do you I let go?
how would I get rich if not trading ?

Go back to the basics. Start trading with small lots now. You have anxiety, you can make clear decisions right now. Trade with smaller lots till you can get back in the right frame of mind.
Sometimes, we overthink the simple things and that's what makes it hard.

Racheal45:
Bro keep your head up
I lost everything Down to zero
Brought car in 2019 and a land at an Estate
Now am gradually trying to get up looking for who to loan me $150
U see life take and life gives
Give up no join

Hope u haven't sold the house ?

And here I am, after months of learning Futures (indicators and technical analysis) again, and thinking of starting my trading journey with the $500 I’ve managed to save. My Starategy is risking $8 per trade with a win of at least $27. This way, even at 60% loosing streak, I’ll still be in profit of $60 ideally on daily or two days basis.

Spreshman, what do you think?

Why not diversify your sources of income?
It is not necessary you rely on forex.

So far so good nobody has cursed me yet… all words of encouragement … I was honestly expecting someone to come at me or call me names.

SpreshMan:
So far so good nobody has cursed me yet… all words of encouragement … I was honestly expecting someone to come at me or call me names.

Answer my question Boss.

BigDickProblems:
And here I am, after months of learning Futures (indicators and technical analysis) again, and thinking of starting my trading journey with the $500 I’ve managed to save. My Starategy is risking $8 per trade with a win of at least $27. This way, even at 60% loosing streak, I’ll still be in profit of $60 ideally on daily or two days basis.

Spreshman, what do you think?

I really don’t do futures but generally all trading requires risk management but I don’t subscribe to keeping the risk too low, maybe try 50$ per trade so that if you win, the profits would amount to something.

SpreshMan:
I really don’t do futures but generally all trading requires risk management but I don’t subscribe to keeping the risk too low, maybe try 50$ per trade so that if you win, the profits would amount to something.

Using $50 means he's risking 10% of his capital, at that rate it won't take long for him to blow his account

SpreshMan:
I really don’t do futures but generally all trading requires risk management but I don’t subscribe to keeping the risk too low, maybe try 50$ per trade so that if you win, the profits would amount to something.

Interesting. I will think about this

DoctorShomo:
Using $50 means he's risking 10% of his capital, at that rate it won't take long for him to blow his account

Yeah. I was going to ask the same question too. With $8 risk, to blow my account will take more time compared to the $50. And I also believe that the risk to reward ratio of 1:3 (I.e $8:$27) will make sense. If I loose 6 trades and win just 4 trades, I’ll will still be in profits.

Come to think of it, the right word is not pain, as I have since been using to describe it… the right term is “heavy heart”… so yeah, I wake up everyday with a heavy heart and I know this because that’s how I feel right now(7 am in the morning ) coupled with fear of going broke and fears about whether or not I would get to portfolio ATH. I wish to heal and I wish the things that happened never did! But now I have to prove myself to myself or conquer myself or even at the very least heal from this situation.
May the Lord grant me Mercy FULLSTOP

Thats life bro 😎

If you still trade nemesis you will lose the reasoning 25 mill. All I do is buy eth/btc sui/btc pair it and farm. Market up and down I'm making money no need for panic