The dark side of trading

[wxytrader]

Dude, i have doubts you’ve ever seen 50k in your life.

What are you talking about? It's not even worth trading if you have less than 50K...

 

[Wide Tailz]

Took me 7 years and 103k in losses and 8th year I made it all up and then some in scalping. The funny thing about it, what I learn in first year is what I was doing the 8th year. I figure I wasn't ready to kiss.

Wish I could like this 10x. How inspiring. Thanks!

 

[eleanorK80]

That's true. I can also add: involves unethical practices like market manipulation and insider trading, which can lead to severe legal consequences

 

[kroxobor]

The dark side of forex trading includes high volatility leading to significant losses, the prevalence of scams and frauds targeting inexperienced traders, psychological stress and emotional turmoil, addiction to trading, and the potential for excessive leverage leading to large debts. Additionally, the 24-hour market can lead to sleep deprivation and burnout, while the allure of quick profits may overshadow the importance of proper risk management and disciplined trading strategies.

You've summed up the dark side of forex trading quite comprehensively. High volatility can indeed amplify losses, and scams targeting inexperienced traders are unfortunately prevalent. Moreover, the psychological toll of trading, including stress, addiction, and burnout, is a real concern, exacerbated by the 24-hour market.

 

[Goldlover]

The dark side of forex trading includes high volatility leading to significant losses, the prevalence of scams and frauds targeting inexperienced traders, psychological stress and emotional turmoil, addiction to trading, and the potential for excessive leverage leading to large debts. Additionally, the 24-hour market can lead to sleep deprivation and burnout, while the allure of quick profits may overshadow the importance of proper risk management and disciplined trading strategies.

True, the dark side of forex trading is real. High volatility, scams, and emotional stress can take a toll.

 

[semperfrosty]

Hello maxinger,

Well stated.

For anyone wanting to improve their ET browsing experience:consider blocking Maxinger.

He recently blocked me and not having his instant,lonely,angry and nonsensical input into every thread that hits the board has made for a more enjoyable experience.

Apparently hes a different person on the lawn bowls and mahjong forums.

 

[Darc]

I have rephrased it massively to make it positive.


The bright side of trading

The bright side of forex trading includes high volatility leading to significant gains,

the prevalence of scams and frauds targeting lazy traders leads to
more trading opportunities for hardworking traders.

and the potential for high leverage lead to newbies needing to put in only a tiny amount into
their trading account.
And this provides great opportunities for newbies to reach financial freedom soon.


Additionally, the 24-hour market gives the traders great opportunities to
trade at whatever time is convenient to them and hence
it will lead to good sound sleep for the traders.

With high leverage, good risk management, and disciplined trading strategies, newbies
can reach financial freedom very soon.

_________________________________________


Learn to look for opportunities.
And Don't look for problems after problems after problems.

If you want success, you have to look for opportunities, not problems.

If you want sleepless nightsssss, then look for problems, not opportunities.

Hello maxinger,

Well stated.

 

[Zwaen]

The problem with a lot of traders (doesn't matter what they trade), is they want to get rich overnight without, learning how to properly trade, control risk, have proper capitalization. They dream in their heads the millions they are going to have, without actually doing some work towards it? Watch the Dumb Money movie. It is about the Wallstreet Bets crowed and how they ran up Gamestop (GME) to sky high levels. A couple of people in the movie, like Roaring Kitty made monies and kept it. One greedy nurse (played by America Ferrera), kept hanging on. She had over $200,000 at one point which could have changed her life. She did not cash it in. When the movie ends, she ends up losing monies and still working as a nurse. That is just so sad because, she had it in her hands but, she dropped it totally. And you do not master the skills in one sitting. It takes years as most top traders will tell you.

It could also be ‘logical’ to continue, since 200.000 isn’t lifechanging imho (maybe in India)
So it could be logical to continue and hope for another 10x

 

[smallfil]

It could also be ‘logical’ to continue, since 200.000 isn’t lifechanging imho (maybe in India)
So it could be logical to continue and hope for another 10x

If you watched the movie, she was struggling financially. So, the $200,000 or the bulk of it could have had a positive effect in her life. She did not have to stop trading. If she set aside, $150,000 to pay her bills and use on herself as she wished, she would have had $50,000 left over to trade with, plus her salary as a nurse. This is where the fear and greed in trading comes in. A lot of traders have unrealistic goals especially, if you were just following someone like Roaring Kitty and did not do any due diligence yourself. Add to that, now her account is negative meaning she lost monies on GME. So, she lost $200,000 in profits plus some more of her monies.

 

[Zwaen]

If you watched the movie, she was struggling financially. So, the $200,000 or the bulk of it could have had a positive effect in her life. She did not have to stop trading. If she set aside, $150,000 to pay her bills and use on herself as she wished, she would have had $50,000 left over to trade with, plus her salary as a nurse. This is where the fear and greed in trading comes in. A lot of traders have unrealistic goals especially, if you were just following someone like Roaring Kitty and did not do any due diligence yourself. Add to that, now her account is negative meaning she lost monies on GME. So, she lost $200,000 in profits plus some more of her monies.

Oké, didn’t know that