Mark Angel broke the internet yesterday that he lost $3.7 million to Forex trading that went wrong.
I think this morning is a good time to share how I lost $2,000 to the same Forex trading 2 years ago.
I was just coming out of a major expense that shook me, and I was desperately looking for how to earn an income on the side to complement the income I make from the business.
I just finished paying for the last car I bought. It was an SUV, and the expenses were overwhelming.
In that vulnerability, I tapped a friend who trades forex to trade for me, and the sharing formula was to be 70/30.
The initial return on investment was alluring and tempting.
The first day, he sent $300 to my account.
VoilĂ ! I have hit the jackpot; I erroneously thought
The income from the forex trading was steady for like a week, and I was over the moon.
Finally! I have an income to fall back on in the days that business is bad, I foolishly told myself.
I think I made up to $700 in total until one day, I woke up to the news from my plug that the account had been blown.
I wanted to die at that point.
Account blown kwa? What does it mean?
It means the money is gone, and he was honest about it.
The dollar was 1,200 to $1, so I lost over 2.4 million to the whole thing.
In that despondency, I went to cry to my brother Bitcoin Chief, Gaius Chibueze who pitied me when I was crying and dashed me 2 million to compensate for my loss.
Since that time, I no dey use ear hear Forex again.
That said, Forex is a highly speculative business that can change your life and that of your generation
At the same time, it can bankrupt you if care is not taken care of by taking you back to your village.
Before you trade forex, please learn the fundamentals and the technical knowledge of the business from professionals.
This is important, or else you will lose everything by blowing your account.
By Chukwudi Iwuchukwu
