very bitter taste

When my parents passed away.I came into a substanstional amount of
money,and was soon prounced on to invest it,how wrong could i have been,now i have to fight all the way,just to get my money back,thats if im lucky....

life has a way of teaching you these lessons mate, sorry about your parents

What he said.

billyboytime said:

When my parents passed away.I came into a substanstional amount of
money,and was soon prounced on to invest it,how wrong could i have been,now i have to fight all the way,just to get my money back,thats if im lucky....

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The best advice that I can give you, and I speak from experience, is unless you KNOW that you can make money trading, take what you have in your account now and put it in the bank- right away, otherwise what you have left will go too.
Then learn as much as you can about trading and then start trading the least size possible until you get the hang of it.

mrsoul said:

The best advice that I can give you, and I speak from experience, is unless you KNOW that you can make money trading, take what you have in your account now and put it in the bank- right away, otherwise what you have left will go too.
Then learn as much as you can about trading and then start trading the least size possible until you get the hang of it.

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Top advice, the only addition I would make is that if you do find a method of trading that works consistently there is no other industry where (as an individual) you can potentially regain your losses in a reasonable amount of time. The satisfaction you'll experience by 'coming back' and the emotions that come with it will steel you for the rest of your days.

Black Swan said:

Top advice, the only addition I would make is that if you do find a method of trading that works consistently there is no other industry where (as an individual) you can potentially regain your losses in a reasonable amount of time. The satisfaction you'll experience by 'coming back' and the emotions that come with it will steel you for the rest of your days.

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Agree. Although I would not set for "regaining losses". IMO it is not good attitude. To author - just trade. First on DEMO then with very small positions. Do not invest any serious money until you know you are able to earn on markets. Don't make it hazard or gamble - make it your profession.

Sorry to hear about your loss. But surely you knew that the investments could go down as well as up.

This why I said on another post that the majority really shouldn't go anywhere near the markets as their expectations are often totally unrealistic. They expect nothing but profits and then get all depressed if/when they get losses.

Remember, you're investing in riskier assets in order to have the potential to earn greater rewards, but the flip side is that you have a risk of losing.

The solution is simple, keep your money on deposit, then it's impossible for it to go down in value (assuming low inflation). But then many people would only complain that they're earning 4% when the stockmarket has just rallied 20%.

billyboytime said:

When my parents passed away.I came into a substanstional amount of
money,and was soon prounced on to invest it,how wrong could i have been,now i have to fight all the way,just to get my money back,thats if im lucky....

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Do you mean dodgy IFA/boiler room or do you mean you just bought some crap?

bbt has not said in what way he has lost money only that he has. It could be any number of ways and without more information we are speculating on how this may have happened.


Paul

mrsoul said:

The best advice that I can give you, and I speak from experience, is unless you KNOW that you can make money trading, take what you have in your account now and put it in the bank- right away, otherwise what you have left will go too.
Then learn as much as you can about trading and then start trading the least size possible until you get the hang of it.

Click to expand...

The problem comes in knowing when you really know. How many times have we all thought we had it nailed and then the market proved otherwise?