₦airaland Forum

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

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.

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.

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

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.

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 ?

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

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

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 !

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 !!!!

Bigwings22:
Whew... I think perception of wealth is relative to different people, some can have $1 Billion and not feel rich enough, some can have $200 Million and feel like they're on top of the world. I think the best way to take care of this is not to compare and be grateful for what you have considering people have less than you or even nothing.

I leave you with this

"Success is not final; failure is not fatal: it is the courage to continue that counts."

Wish you the best brother

Bro you've made and learnt a huge lesson that many have not or never made. Now you know what not to do and also know what to do going forward. Wealth is not built in a flash it takes times, look at Warren Buffett he became a billionaire at 56, look for something, give it your all with time and consistency you'll make that 20 Million back and even more and can still become one of the highest net worth individuals in Nigeria if you wish.

Alright boss, thanks for the wise words… I have mourned enough or a lot, think it’s time to close the thread.

It is what it is

[b][/b]

Bigwings22:
OP see eh when a person is not rich or doesn't have money they do a lot of things that have a lot of risks involved but when they then make a substantial amount they guard it, take less risk as possible, example is banks especially in Nigeria, do you see them give loans out to people and businesses anyhow? One of the things that led to the failure of Heritage Bank were bad loans. Even these hedge funds and investment companies, they don't take anyhow risk, they minimize risk or avoid it if possible.

Whether memecoin, any form or type of crypto, forex trading and even stock trading, you have to be prepared for anything because the people or computers on the other side aren't joking, they'll decimate you and leave nothing left, that's how these markets are. I'd say you seek consultation about what other real life businesses you could do even though returns might not be much, on the long run you should do far better than when you started, trading isn't the best way in my opinion to make constant income, I don't even like trading all these online stuff like crypto, forex etc You can lose everything and return to square one. There's data backing high rates of loses in these ventures.

Another thing I want to say and I've observed is that the way retail traders trade is very different from how Institution/banks trade, people say that it's the same market they all trade, ok but how are you sure it's the same market or just a facade from the broker to simulate reality, even if it's the same market do you have the tools, information and capital that the big banks and institutions have? Even in crypto they'd be a whale or whales that pump price to get people to invest then short and make profit, many who invest wouldn't have an idea because they don't have the insider info.

Finally I'd say you should stay away from trading away your hard earned money. You're already feeling the huge loss of 20 Million Naira don't add more misery to yourself by losing even more.

Thanks for this bro, it made a lot of sense.., I had to go on a defensive, I would think I know how hard it is to make money in real life and I have also read a lot of experiences of people who lost big too on the internet but one way or the other, the stories didn’t stop me from messing up and it has happened to me. My pain is that I know how hard it is to make money in real life… I wouldn’t just walk around and make 20 million back and for me to make it back via trading I have to take more risks… it hurts but I would move on. Fs

But for what it is worth, I never felt rich when I had it all intact, was still calculative and having expansionist thoughts, it was upon losing it than it dawn on me that I could have easily been included in the top 10% in Nigeria

Jiola:
Can you spare $1k for forex trading, at least lemme trade for you.
Of course it's not possible for me to recover all ur losses for u but that would provide some succour...
I have evidence of consistent profitability that I can show u...let's talk
iwishgoodness57@gmail.com

SMH

LIVINGICONREBOR:
My brother calm down, if uyi guobadia (guobe) tell you how much bet9ja and Sportybet don chop from him hand, you go know say your own nah child's play 🥱

@LIVINGICONREBOR,
I really don’t know who that is and I don’t do bet9ja

It drives me crazy everyday I think about, have been making some enquiries about business and believe me, most businesses don’t make 20 million annually, how did lose such money, why me ?
Could have bought land or skip that and get a car or skip that and put a structure on the land I bought…

I just can’t forgive myself… oh Jesus Christ of Nazareth!!!

moneylatalks:
One pump filing station ⛽
with store and
gas filling plant( all in one space)
close to a residential area

Can 20 million build that ?

WhiteIverson:
You just lost 20 million bruh

Reason why I gotta invest the remaining one at hand

Hello guys, I want map out 20million for business in Nigeria … what business can I start and what would be my realistic profit expectations in one year

I had close to 60 million and never felt rich and only began to understand the things the money could have done for me after I lost a considerable chunk of it…

Firebox123:
fake stories

Still in my angry state, I just felt replying you would make me feel better …. Doubting Thomas, it’s because of their reaction that most people will never share what they are facing in real life



Anyways to all my fellow traders out there, it’s always bot sometimes think about your capital in Naira terms: the 1k usd u about to lose is still 1.6 million naira never forget that