Help me im broke

[anon317]

So i dont even know if this is allowed but here goes, Im from pakistan and the financial situation over here is really bad. I have been doing forex trading for a couple years on and off and this has led me to become bankrupt. I even used all my parents money and lost it to the markets. I even owe a couple thousand dollars to people who call me daily and ask for their money back, i keep making up excuses after excuses, by end of this week u will get it. I even had to give cheques to them dated a week from now, assuring them they will be paid within a week. I have 3k rupees in my bank acc which is like 11$ and i owe thousands of dollars. I dont know what to do, there is no type of work that i can do to makeup even 10 percent of that in a week. We dont even have enough for daily groceries and bills and stuff. Has anyone gone through this type of situation in their lives before? how did u overcome this? Am i the only one going through this?

[sickaesir]

So i dont even know if this is allowed but here goes, Im from pakistan and the financial situation over here is really bad. I have been doing forex trading for a couple years on and off and this has led me to become bankrupt. I even used all my parents money and lost it to the markets. I even owe a couple thousand dollars to people who call me daily and ask for their money back, i keep making up excuses after excuses, by end of this week u will get it. I even had to give cheques to them dated a week from now, assuring them they will be paid within a week. I have 3k rupees in my bank acc which is like 11$ and i owe thousands of dollars. I dont know what to do, there is no type of work that i can do to makeup even 10 percent of that in a week. We dont even have enough for daily groceries and bills and stuff. Has anyone gone through this type of situation in their lives before? how did u overcome this? Am i the only one going through this?

 

Forex trading (or any sort of trading in general) is risky if you don't know what you're doing (=you study the subject, and not with online courses), but my guesses are you understood that by now.

Ngl your situation looks bad, but for the sake of your metal health i'd suggest you to plan a recovery for it, step by step.

 

Your approach here shows some fallacies (e.g. you claim to owe "thousands", so let's assume 5k?), 10% of that is 500, in a week?

That would mean 2k in a month, which, for at least where i live (defo an industrialized place with no really hard economy issues), is an over-the-average salary.

Edited by sickaesir, 16 April 2023 - 12:56 PM.

[Eminem]

help your paki brother @HomesickForUs

[anon317]

@sickaesir
I used to make 3k+ a month easily, here is how it all started. So there was this prop trading firm which is currently not operational anymore because of FCA legal issues. They had a monthly subscription model of 370$ in which they would give u a 50k trading account and max drawdown was 5k, target withdrawal was 2500$ and after that the profit split would be 50-50. Also if u reach drawdown limit u could refinance or account or reset ur account for 100$. So me and my friend came up with a plan and we would open multiple accs using VPS and ID's and we would take a really smart hedging positions of 1.96 lot size which was the maximum position size we could take in selected pairs and just wait it out. So lets say account A we bought audusd and nzdusd pairs and in B account we would sell them, the profit and loss we would set it to 2500$. So that would mean we need almost 120 pips to achieve that. If u are familiar with forex u would know sometimes all it takes is 1 day to move 120 pips, sometimes it could take even 1 or 2 weeks. So lets say we were able to make this work just twice in a month, that would mean 2500$ after profit split. This is just an example from 2 accs, u get the idea even after monthly subscription fee 740$ combined plus 50$ for VPS. U still end up with 1700+ dollars. Now starting out we did not have money for even 1 acc so we made this pitch to investors but offered them 10% monthly returns on investment, we did not have money for even for 1 account that and we needed investors to start out. So long story short it started out great everyone was making money but it lasted only 2 months before the prop firm was not operational anymore and we had taken a lot of money from people to make and manage multiple accs. The prop firm is basically shut down and we have no money to repay them.

Edited by anon317, 16 April 2023 - 03:11 PM.

[Guizmo02015]

I'm sorry to hear about your financial situation. It sounds like you are in a very difficult position. It takes courage to reach out and ask for help, so I commend you for that.

 

First and foremost, it's important to stop trading in forex or any other high-risk investment. It's clearly not working out for you and is only making your financial situation worse.

 

Next, it's important to be honest with the people you owe money to. Continuing to make excuses and delaying payment will only make the situation worse. Explain your situation to them and see if you can work out a payment plan that you can realistically manage.

 

It might also be helpful to seek out financial counseling or advice. There may be resources available to you that you are not aware of. You can try reaching out to organizations that offer financial assistance or counseling in your area.

 

Finally, it's important to stay positive and stay motivated. It's easy to feel overwhelmed and defeated in situations like these, but know that you are not alone. Many people have gone through difficult financial times and come out on the other side.

 

Keep looking for ways to improve your situation, and don't give up hope.

[anon317]

I'm sorry to hear about your financial situation. It sounds like you are in a very difficult position. It takes courage to reach out and ask for help, so I commend you for that.
 
First and foremost, it's important to stop trading in forex or any other high-risk investment. It's clearly not working out for you and is only making your financial situation worse.
 
Next, it's important to be honest with the people you owe money to. Continuing to make excuses and delaying payment will only make the situation worse. Explain your situation to them and see if you can work out a payment plan that you can realistically manage.
 
It might also be helpful to seek out financial counseling or advice. There may be resources available to you that you are not aware of. You can try reaching out to organizations that offer financial assistance or counseling in your area.
 
Finally, it's important to stay positive and stay motivated. It's easy to feel overwhelmed and defeated in situations like these, but know that you are not alone. Many people have gone through difficult financial times and come out on the other side.
 
Keep looking for ways to improve your situation, and don't give up hope.

Thank u for kind words

[cayin74272]

have faith in god. everything will be okay

[TvShopGr]

sorry to hear that,sent you a pm

[vansi]

same

[cooldudeeu]

hope you make it through, good luck