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Economic suicide: attempting Forex trading without proper training.

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I did not just arrive but I started somewhere, somewhere not fun at all, and ooh!!  I haven’t even arrived yet, I am still very far from where I want to be. From the past few years that I’ve been trading Forex I struggled a lot when it comes to reading real stories about Forex trading. When I started this blog I was a lonely trader looking for a space where I could share my bad experiences but unfortunately I couldn’t find any forum or group where traders share the reality of Forex trading or rather real stories, but only flashing of possessions and selling of dreams to aspiring traders. I therefore decided to be a “storyteller”. I started this blog to tell my Forex trading story in a real way possible since everyone out there is more interested in sharing the beautiful story and happy endings. Most of the time I get people asking me why do I hate Forex trading groups and forums? I do not hate Forex groups, I just decided to stay away as I couldn’t find what I was looking for at the time. I was looking for real stories, for people who were willing to share what I was going through, but being there in groups made me to feel like a failure as no one would really share their worst moments or reality. I therefore became a loner (still am) and started this platform, my diary to share my Forex trading stories.

I never even thought people would read, but I am happy that people are reading and following. This place might be the right place for you, maybe you are reading here now and what I’m about to share is exactly where you are or what you are going through. Ok I am not sure if it is me or there are Forex traders who think like me out there, everyone seem to believe that Forex trading can be learned in just 2 days, I don’t. I tried and believe me it didn’t work, maybe for someone who’s been trading for a while, someone who just need to learn a new strategy or new tricks, yes I agree 2 days might be ideal, but definitely not for a beginner because strategy is not everything, understanding the financial markets can never be achieved in 2 days, unless I am the dumbest woman on earth to ever fail to learn Forex trading in 2 days. I know someone might be reading this and stopping right here just because I said it is impossible to learn everything in 2 days, I know it is impossible, I am yet to see a successful trader who learned in 2 days. As a mentor myself, I find it very hard to find people who are in a right state of mind, the influence from social media is too huge, only financially matured can survive.

My worst moments

There are few moments that were the most difficult in my trading life, but let me tell you about this one in particular. It was Friday, I had everything “under control”so I thought. I cannot even begin to think of how on earth did I  do something so stupid. I had $900 in my account and had 20 positions opened at the same time, I am not exaggerating I really had 20 position. Forex trading was the only thing I spoke about to my friends and family, I was forever telling them how I’ll make my first million soon, little did I know I was about to”kiss”my trading account goodbye on that Friday, I would never forget it but I now smile as I write this, what an experience.

It was the first Friday of the month and Non Farm Payroll (NFP) was about to be released, I didn’t know what was that all about, I had never heard anything about the economic events that take place on daily basis, I was still very naive to believe that the currencies move randomly. I was very lucky I must say, I see a lot of traders who are just lucky, pity luck runs out in this business and when it does, it hits you very hard, back to my 20 open positions, I was watching the charts moving up and down and feeling like “dollar queen” thinking to myself, I got this, I was really sure I got this, I had over $900 on my balance (which I thought was everything at that time) I watched my 20 position closing one by one, I did not really think I was in trouble (when you don’t know what you don’t know), I was not scared at all even when I saw the red line flashing, I didn’t know what it was or what it meant. I got an email, before I could even finish reading it, all my open positions were automatically closed and the $900+ on balance was suddenly reduced to $0.36, still I was not scared at all as I didn’t know what was happening in fact I thought the platform was playing tricks on me (in tears laughing as I write this) I went to my broker’s live chat to ask them to rectify the error, I got the shock of my life, I was told I was on margin call, I did not even know what was margin call, for some reason I still thought there was a solution to reverse the margin call, ooops!! there was no solution, I actually lost everything.

That was the end of me and talk about my confidence being bruised, I got so embarrassed and ashamed, I got revolted and told myself I will get this one day. My trading buddy, knows how I used to tell her about my son teasing me every time he gets a mosquito bite and get that itchy red mark, he always teases me and say “mom look , I’m on margin call” and we both laugh about it, he was 9 years when it happened and that was 4 years ago. It was so hard for me, I was so traumatized and even scared of using or looking at microwave as I was scared of any moving numbers. At a petrol station, it was just a nightmare to see any moving numbers, I would just see my trading account, it reminded me of the day, the flashbacks were just horrible. Thank you for reading as I wait for real stories. Kindly share yours by leaving a comment. Thank you for stopping by, I enjoyed telling you my story I hope you enjoyed reading.


29 Comments

  1. John says:

    You don’t become successful by not failing. So greatest fail. Gold was all the rage back in 2011. I made a killing. Took a 1k account to 4 k. I knew to get out above 1900 but I didn’t, thought it would hit the 2k mark. It didn’t, I found myself back pedalling a market that just wouldn’t stop. I should have cut my losses and moved on, but I didn’t, I was determined to ride it out. It eventually wiped me out. I can’t even trade gold now here in the US without huge contract prices, but the lesson was the same. The market can stay illogical longer than you can stay solvent.

    • Thank you John for sharing your story, it is so hard to find traders who are willing to share, everyone wants bling.
      True what you are saying, i have so much respect for traders like you who are not ashamed to share in public and wow that was a big blow hey, i know the feeling of regret that comes after you did such, you feel so stupid and angry at yourself, with me i was mostly driven by greed, wanting to gain more and more, i learned the hard way, now i am sure you agree that success has everything to do with self control more than having the best strategy, thanks again.

  2. frieda says:

    True Ntombi one can not be an established trader by attending “2 days seminar” . I fell in to that trap were you don’t get told the reality behind Forex and not taught the right strategies of how to approach trading.
    The only thing you are being told is Forex is easy and you will make money and mentors showing off their possessions. The 2day classes only cover basics and does not cover important concepts.
    but I guess for me it was a learning curve as I learned most of the things through the internet.

    • Hi Frieda’

      That’s very unfortunate and it is a sad reality. I do my training for 4 weeks but because I understand how complex it can be, I offer ongoing mentorship on one on one and trade together with my mentees.

  3. Sipho Madonsela says:

    I want to be mentored on how to trade given all the possibilities of failer n successful trading

  4. nkululeko says:

    Im proud of yuo and im looking forwad on learning more from yuo and reading more.

  5. Bonga says:

    Sad but educational story (millions dollar queen) lol.
    My first ever trading encounter was. On the 9th August which is last month. Basically I’m a month old in this. I lost $116 in one position. One reason, I didn’t know how to get out of the trade lol Crazy I know. But I have taken it with a pitch of salt, learnt and moving on.

    I have whatsapped you, I need mentorship.

    • Hi Bonga
      Sad story indeed, you can lough at me now but mostly take it as a lesson as well. This is not as easy as everyone out there makes it out to be. You can master it though, only with commitment. If you can figure out your mistakes, you can fix them. Thank you for stopping by.

  6. Sarah says:

    Hi Ntombi

    I started trading 15 Sep with 200 dollar, I wanted to withdraw when my account manager started to bother me with more deposits as my margin was low(whatever that meant, I know now from your info).I was angry with him cause their advert says start as low as 200. At that time I had over a thousand dollars but couldn’t withdraw cause I had 2 open positions depreciating, the next day everything was on 0.00

    • Hi Sarah

      I know what happened (many people lose money and they cannot even put their finger to it). Your account was probably exposed to margin call. We will talk more when you send WhatsApp.

  7. Sarah says:

    Will send you what’s up to enquire about how much tutoring costs

  8. Teboho says:

    Thank you for sharing real stories, few people really do that. Mine is so fresh I can still see that red line on my account this was two weeks ago 04/10/2016 when I lost $1000 and account wiped out by GBP and I know for a fact many others like me lost accounts especially on the early morning of 06/10/2016 veryone was expecting GBP to strengthen and as we saw that fundamentals played many of us so wrong but few will say it.

    But having said that I still love this thing, in order for me not to be scared of the markets I quickly funded my account again the following week and now I am 30% up on that account looking forward to doubling it soon.

    I just found your blog now and it is an interesting read, many people are being mislead out there I hope they will find this blog and read before they lose more money.

    • Hi Tebogo

      Thank you so much for telling your story as well. It goes beyond the charts, if traders can acknowledge that.
      It will also help you to know what led to the mess. I do understand the fact that GBP happened but a good money management will never lead any account to margin call.
      Thank you for stopping by.

      • Teboho says:

        Lol! Yeah I know that better than most, got too comfortable and the set ups looked so nice? 90% of the time when I see set ups I saw on gbp they go my way. Having said that too many positions opened on gbp pairs got me in margin trouble. But I must say being an experienced trader I do enjoy your posts been reading them since 5am this morning hahahah. Big ups to you really!!!

  9. Dali says:

    I heard so many stories about Forex trading but today I just heard the hidden stories and wondering why are such stories or rather naked truth hidden. Thank you very much for narrating or lemme say for teaching us. Eish I feel like mhhh I don’t know how to explain it but it’s more than happy to hear the truth but disappointed from the brothers and sisters who were and still are boasting about the luxurious lifestyle they live from Forex yet they don’t prepare us mentally how difficult it will in this business. Thanks a lot. Eish I thought I would make millions in just few months with start-up of +-$700. Yhoooo I’m so startled. Thanks sisi kakhulu

    • Hello Dali

      Thank you so much for stopping by and for your comment. I am so happy you are seeing the light now before investing that +-$700 and get disappointing results at the end. You are now well prepared and ready to venture into Forex trading with some realistic expectations. Forex is good and you can make a lot. But it requires dedication and patience.

  10. Andrew says:

    I’m glad to have stumbled on your blog and website. I had taken a 2-day course hoping it would help me make profit in trading but it was not to be. The course promised a lot but after that it didn’t help me much in my trading, many concept were not taught and looking back now i realised there was so much more to learn. I also blew up an account of 1K during the ECB announcement last year in December which taught me not to trade during major news. After that i decided to do my own research and study on my own, going to the library, etc. It’s been almost a year since i blew my account and i am more confident of trading again now. Thanks to your blog, it has helped me to be more confident trader.

    • Hello Andrew

      Thank you so much for sharing your story as well, its a sad one but a reality to many. You can see now that 2 days is not enough to learn. But because no one cares to tell the truth, the clueless flock to these seminars and end up buying into the gimmicks which is about flashy lifestyle. The reality only hits when you are on your own trying to trade your real money. Thank you so much for the positive feedback. It is so encouraging for me to keep posting. Thank you for stopping by and good luck on your journey. You might also like to set some realistic goals for yourself. Read more here: http://learnfxtrading.net/much-can-make-forex-trading/

  11. Genesis says:

    In 2015 I attended a presentation from one of the “TOP” company from UK, which was held in one of the fency hotels in the suburbs.

    The presentation was on point one of the best I’ve ever seen. A guy with a British accent was doing the presentation telling us what has forex done for him. How much it’s has changed his life and how much it can also change ours “with just a click of the button”

    His or the company theme was “we don’t teach how to trade we teach you how to make money in the market” “with just 2 days your life will never be the same” Wow. Any1 would wanted that I also wanted that regardless of the costs I wanted to change my life. I worked my butt off saving taking small loans because I wanted to change my life. It’s took me abt 11 months to get the amount. It was haRd but I wanted this

    The day for the course finally I arrived I was pumped up ready to make $$$, mind you i don’t have any knowledge about forex bt the money i paid for the course made me believe that I’m gonna be thee best trader there is in just “2 days” lol

    But to my disappointment( well I get it now though lol) that didn’t happen. Reality happened

    1.the information that was given there was not equal to the money paid (what do you expect none can learn fx in 2 days)

    2. Babedayisa a robot (but that time I didn’t know) hence that’s why there were saying “we don’t teach you how to trade, we teach how to make money on trading” meaning you don’t trade, the robot does the job for you. You just push the button lol

    3. They told us for the “system”(they didn’t call it the robot lol) to work perfectly you must have atleast, I repeat atleast $2000 I mean WTF(excuse my lingo) how can you tell someone who’s a beginner to fund his account with so much money that’s about R30 000

    4. I later realized that the reason why they said they prefer that amount for a system to work well its because they were in partnership with one of the Brokers

    5. Last but not least they taught us using Bar Chart lol .. I mean really Bar Chart!! Steve Nison would be dissapointed nje if engezwa that

    It’s a long story bt sadly my story doesn’t have a happy ending because most of the guys I attended the course with decided to quite Forex because the system was failing them they were making losses after loses(That is about R50 000) down the drain!!. Fortunately for me I survived I was able to hustle and not give up(m not were I wanna be bt i am better than I was and I can only get better)

    Moral of the story is not everything expensive is genuine. And that there are no shortcuts to success … well I learned that the hard way .. let’s give ourselves some time to learn. Doctors and Lawyers take years and years to perfect their crafts bt thina we wanna do it in just 6 months, we wanna measure up to FX GURUs and if it doesn’t happen we quit

    • Hi Genesis

      Thank you for sharing your story (the humor though just made if fun). It is a sad story indeed and many people are still falling for these lies. I also learned the hard way when it comes to trading robots that are super expensive. And yes I know how it is to come out of that heated seminar in a fancy hotel somewhere in Sandton and thinking that you are about to fire your boss in 4 weeks. I got “attacked” by robot sellers a few months ago because I shared my own experiences through this post here: http://learnfxtrading.net/forex-trading-robots/. I was just sharing like I always do, this blog is all about being realistic and warning the public about the bad things that I have personally experienced. I am happy you finally saw the light and you survived. You are 100% correct, this is not different than the professions mentioned on your comment. I always say you first learn, practice as much as you can, go live and keep learning still to gain that experience and confidence needed to be successful. Experience and confidence is something that you can never be taught but acquire by yourself. I wish you all the best in your trading and stay as realistic as you are. Thank you for stopping by

  12. Pontsho says:

    Hi Ntombi i also lost $800 dollars after attending 2day classes which i paid a lot of money to tell the truth i dis not know what i was doing it took 3 months to loose it. Wish we can have people like u who can show us the ropes in 2015 i was working and was able to find my account now im unemployed 2kids abd dont have enough cash to fund my acoount. Does you training n mentorship come free of charge if so i will join immediatly

    • Hi Pontsho

      Thank you for sharing your sad story here. I am sorry for what you went through. My training is at a cost unfortunately, it is also done on an individual basis and its a private mentorship (not done in groups), for 4 weeks (one hour per day via Teamviewer). I share information for free here, but if you need to be taught and mentored I do charge. You can check the details on how the lessons are facilitated here: http://learnfxtrading.net/learn-forex-trading-the-easy-way/. Thanks again for reading and commenting on this post.

  13. Zama Ndlanzi says:

    Thanks Ntombi,i just found you.I also had terrible experience on trading forex,i have blown 2 live accounts in 2016.One was blown by GBP and the other one was blown by myself due to the lack of knowledge because some of our mentors do not tell us everything we they teach,they withold information.I am still learning how to trade and this time I am taking things slowly.It’ s very sad to blow account because we have dreams to fullfill,we have families to take care for,but they say nothing comes easy and I am hoping that one day I will be proud of myself.Thank You.

  14. Thank you for sharing your story I really enjoy reading your information wow I came across your webside as I am new to Forex I am currently taking my time I have trade on a few demo accounts and have deposit $300 into a life account wow as you know the feeling I havent trade yet but I know when the time will come im not nervous but deep inside me I know when at this moment im just reading and build my knowledge I will surely keep you informed when I will make my first trade I will sure start with a small lot size dont worry
    Take care and thanks again im talking to you as I know you for a long time haha thats how you make me feel when I read your blog have a good night
    Kind Regards
    Randall

    • Hi Randall

      Thank you so much for stopping by and for your comment. I wish you all the best in your trading journey. I am loving the part where you say you are talking to me as if you’ve known me for a long time. So happy to meet you here. I am trying to speak about things that most traders experience in their daily trading life but no one is willing to share these stories. Thanks again

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