How I lost $3.7m, properties to forex trading –Mark Angel

[Richbased]

There was a time that i don't normally see the skit maker making new skits and contents but i never knew it was as a result of almost going bankrupt due to trading. Anyways, trading is not bad but trading with what you can afford to lose and also knowing when to stop trading when you observe you are losing so much is what will guide you not to have similar experience like the well known skit maker. Losing 3.7 million and some properties to trading is a nightmare anyone wouldn't want to experience because that amount he lost is what most people are even laboring all their lives to get. One thing with most celebrities is greed because since they are influential and wealthy, they will want to enter trades with huge amounts hoping to gain huge as well and if he is to open up on how he made those losses you will discover that he was literally trading with huge amount of money. Perhaps, he was already cashing out money from his skit making and other businesses so why did he fall so low to being deceived by trading. Maybe he entered a trade and made a lot of profits and now think that everyday will be the same then end up losing a fortune. If we erase greed from our lives, we wouldn't have found ourselves in some difficult situations.

[AmoreJaz]

A man has lost a lot of money trading forex, and this is not at all surprising considering that statistics in the past have shown that only about 5% of people who trade anything that involves high risks make a profit. Cryptocurrencies are no exception, but this is simply the normal state of affairs because realistically 95% of those who trade have to lose in order for 5% to get rich.

It might sound ugly, but one wolf will easily destroy 100 sheep, and those same sheep can't do anything to the wolf. What I want to say is that there are too many inexperienced, greedy and lost people who think they can make money this way, but by the time they realize it's not for them, it's already too late.

Many people are losing in the market because of greed and not being knowledgeable of what they are doing. When they see people are earning high profits, they thought they can do it as well. However, when they are already in that position, they will realize that there's more than meets the eyes in this market.

[Dr.Bitcoin_Strange]

He lost $3.7 million and properties in 2024. He said losses brought him to the brink of hopelessness. If not because of some true friends and family that this guy has, probably he might have become broke by now but he saw support from some true people he has.

@OP, I might not have any proof just as the victim here doesn't also have any evidence to show as a back up for his claims, so I totally disagree with him. Mark Angel did not lose any $3.7 million to forex trading.

Don't believe everything you see online mate, although we can still use this kind of lies as a heads up for those that doesn't know that trading can make them lose everything.

I have heard this story since last week and I have also seen other content creators make some analysis of how impossible it is for Mark to lose such kind of money.

I think the question should be, how did he lose such amount? Did he just took out $3.7 million and invested into forex all at once? No he did not (he can not, he Is not that stupid), I believe he started by testing the market with a small amount, so if he perhaps started with $100k and lost it, he will take caution and go slowly. Even the best traders in the market did not start with $3.7 million at once.

Mark Angel is rich according to my research, there's no doubt about him being rich, but come on.... Him losing $3.7 million that is equivalent to ₦6+ billion in  Nigeria currency is a big lie mate.

Use the money that you can afford to lose to trade. Most traders could have a better life instead of trading.

Good advice that is preached all the time.

[nelson4lov]

I can't judge him but the story is vague because losing that much just means he was just gambling; got into losses, and probably tried to get back what he lost which resulted in even more losses. In any case, it's possible to lose that much in crypto too especially with high leverage. Just takes one major swing in the opposite direction for liquidation to kick in.

It would be better if he comes out and provides more details about his experience so others can learn too.

[LogitechMouse]

Despite these statistics, we still see many people trading. The reason for this is that if you make 5 losses and 1 big gain, you will continue trading in the hope of making a similar gain. Trading itself is not a problem, but rather in developing a suitable strategy and determining the risk ratio accordingly.

As somebody who lost in trading many times already, I still want to go back, and trade because of the reason that you said. Sometimes, I feel that trading isn't for me just like when I said to myself that freelancing isn't for me either, but I just want to find that "ONE" suitable strategy that will work for me. Currently, I can't say that I'm profitable yet, but I believe I will be. Not hope but believe. Sometimes, believing in yourself hurts but... it is what it is.

AI may not be accurate but I believe these are accurate:

According to some sources, around 10% to 15% of cryptocurrency traders are consistently profitable
Day trading: Only 1–3% of day traders make a profit, and only 1% do so predictably. Most day traders give up after less than a month.
Forex trading: More than 80% of retail investors lose money when trading forex and CFDs. Many retail traders don't survive forex trading for more than a few months or years.
Stock market trading: ResearchGate says that 90% of stock market traders are in loss.

Use the money that you can afford to lose to trade. Most traders could have a better life instead of trading.

I expect that the percentage of profitable traders in day trading are around 5-10%, but I was completely wrong and it's way lower than what I expected. I tried day trading as well, and it really is hard, and it takes a toll on yourself mentally. As for those traders who are consistently profitable, I believe they've found the strategy that works for them, and they know how to read charts efficiently. As for stock market trading, I tried it here with our stock market in our country, but with a low volatility, the profits are low.

As for the story though, if it's true then it's good that he got friends on his back ready to help him. Feel sad for him though (if it's true), but it's good that he didn't think about taking his life.

[shinratensei_]

the problem is, too much people trading thinking they gonna outsmart the market and come out victorious where what happened in reality is quite the opposite  .

for the people out there who just never make a profit with trading just hold man, with just holding you're already being spared of the risk and even if the price is going down as long as your entry is good enough, you won't need to worry, maybe next year you'd see your coin doing 2x - 3x, you can just sleep tight and won't constantly monitor the market 24/7

trading on the other hand, isn't for the fainted heart, too much psychology at play here by the whales, for example, long squeezing only to go up again few hour later.

[Free Market Capitalist]

Know that bitcoin holding is different from bitcoin trading. Know that trading generally is highly risky and not far different from gambling.

Indeed, and what I see in this case is a point that I often comment on gamblig. When we talk about addictions and problem behaviors, most of them can end up destroying the person's life. Some screw up health more quickly, as could be the case of fentanyl addicts, and others like gambling or in this case trading have the capacity to destroy all your wealth in a very short period of time. You can shoot $1M of heroin in a day, you probably can't even shoot $300 even if you have a tolerance, but you can lose $1M in a day at the casino or trading.

[Roseline492]

When I saw this news om twitter, I was so surprised. Markangel was never a trader least I recalled. This is why you don't just jump into trading without proper knowledge on how to trade. He made the biggest loss I've heard so far of most big traders I know in my country. You can imagine what a fortune he actually lost due to his lack of knowledge. A skilled trader would probably get to a point and stop to gain more knowledge. I guess he trusted some ones signals to have lost that much. This is why I dont buy the idea of copy trading. If you must trade, then get the knowledge first. Trading is a skill that once you master it, it will pay you all throughout your life time.

I don't actually no if the case of Mark angel is greedy or he wanted to try another way because he was one of the most famous content creator and I never even new that he was worth that kind of money let alone gambling with it, perhaps it was because of the money that made him stop content creator for sometime because there was a period I stopped seeing him on the social media but now he has started picking the little piece that remained for him and right now he is almost back on his feet even if he does not have up $3.7m on his account now but at least he is not as worst as before.

[cryptoaddictchie]

Same story with my cousin who got tricked into investing on forex but ended up with debt instead. The thing is they only invest and let the guy do the forex transaction and trading whereas the user said He loss in the trade but not leaving proof of the transaction within the platform. So its definitely a hoax, forex trading is quite risky too so users should always learn first and avoid being contacted by brokers who showing millions of gain just to get your attention.

[Wexnident]

~

Realized this after like ~3 months into trading lol. That, and it was utterly not suitable for me due to how I do it maybe? Why I started to just DCA. I'm doing some short trades recently though here and there but I haven't and will probably never commit to it full time again. It's closer to me playing around with some random alts that I find in the market more than trading really.

Would probably not do anything trading even outside of Bitcoin. Sounds like a stress to me. Definitely high in possible profits, but it's the word "possible" that makes all the difference.

[GiftedMAN]

I trusted the wrong hands in forex and lost all my money.

https://dailytrust.com/how-i-lost-3-7m-my-properties-to-forex-trading-mark-angel/#google_vignette

He was not the one trading but he put his money in a trading investment company. I think he was scammed by people who claimed to be professional traders. We have many such companies in his country that promise outrageous profits for investors. Maybe he was driven by greed, that was why he took his own money, sold properties, and even borrowed money to invest.   

Up till this very moment I still find it difficult to believe that Mark Angel would be that greedy to give out that outrageous amount to a company to trade and be making money for him when he is not sure of the company. Is it possible that he released that particular amount once to them for the trading or he was sending it bit by bit because I don't understand how they would lose that amount within the last 12 months if they are not scamming him in the name of forex trading moreover Mark Angel is a very stingy guy who his colleagues has called out for not paying them after working with him so for him to have entrusted that amount to the company I believe they must have promised him millions of dollars as returns because he's well known as a greedy and selfish content creator here in Nigeria.

His former colleague even made a funny post on his twitter handle after seeing the post of Mark Angel about the loss I still think people are yet to believe that Mark Angel could sell his properties to trade.

[Alone055]

Despite these statistics, we still see many people trading. The reason for this is that if you make 5 losses and 1 big gain, you will continue trading in the hope of making a similar gain. Trading itself is not a problem, but rather in developing a suitable strategy and determining the risk ratio accordingly.

Trading, in general, is full of opportunities to earn money, if more than 90% of traders are in loss, it's only because they don't have the patience to manage their trades and finances properly. I know that if I have $1m in my account, I can easily make some profit every month because I know what I need to do and how I should manage my trades so that I don't lose money constantly and be able to recover what I lose because if you do it with care, you can't lose all your trades, as you said.

I personally know many people who are into cryptocurrency trading, and they are doing pretty good for themselves. They started low and have built good enough portfolios for themselves that they use for their trading activities to earn profits over time. What's dangerous in trading is greed, if you start thinking that you can make more profit if you are making this much, then you will most probably start making mistakes and incurring losses.

If you stay satisfied with small percentages of profits that you get, you will be good. If you get greedy and start overdoing it, you will have to suffer.

[GxSTxV]

Lol, Why did they pick Mark Angel upset face on that article?  Back to the topic, this is just another story about Forex and trading in general, any market isn’t safe or easy for traders, from the lowest volatile to the highest, it’s very difficult to find a strategy that’s going to work for long term. Overall, when a trader is able to make wealth from trading, knowing that it’s a business that needs a large amount of capital to begin with and make good profits, I find that money management should be the number one priority.
I couldn’t find details on how exactly this trader lost that significant amount, but Im sure he didn’t follow the right money management rules, to lose all this money at once you need to gamble, or in a better term, it’s most likely the case where he expended his leverage to the maximum and opened large trades with high risk, not following a safe management.

When I used to be a trader, I have lost so much to learn. In my conclusion, you need a large capital as an investment to make a good income. Trading is against stability where the market sometimes goes crazy, volatile, unpredictable and against you, and in such situations you need to have extra funds to spend if your monthly gains are negative.

[gunhell16]

I remember a year or two years ago when I searched for the richest skit market in my country, Mark Angle was the second. But this is what I read about him today. I posted this on local board but I still think I have to share it with you people on trading discussion. Although, it is forex but trading is just trading. Exactly the same can happen to a bitcoin trader also.

He lost $3.7 million and properties in 2024. He said losses brought him to the brink of hopelessness. If not because of some true friends and family that this guy has, probably he might have become broke by now but he saw support from some true people he has.

https://dailytrust.com/how-i-lost-3-7m-my-properties-to-forex-trading-mark-angel/

Know that bitcoin holding is different from bitcoin trading. Know that trading generally is highly risky and not far different from gambling. A lesson to those that have trust on someone who is trading that they can fail you. I believe those traders wanted to trade and make money for the guy but it went otherwise.

AI may not be accurate but I believe these are accurate:

According to some sources, around 10% to 15% of cryptocurrency traders are consistently profitable
Day trading: Only 1–3% of day traders make a profit, and only 1% do so predictably. Most day traders give up after less than a month.
Forex trading: More than 80% of retail investors lose money when trading forex and CFDs. Many retail traders don't survive forex trading for more than a few months or years.
Stock market trading: ResearchGate says that 90% of stock market traders are in loss.

Use the money that you can afford to lose to trade. Most traders could have a better life instead of trading.

That's why most investors, even long-term traders in the cryptocurrency business, do long-term holdings because you can control the risk better compared to when you trade frequently but your funds are gradually eaten up by trading, especially if you are doing trading activities in futures.

This is the mistake that other traders make, especially if their trading knowledge is not that extensive. That's why I agree with your last statement that we should only trade the amount that we can afford to lose in the end.

[EarnOnVictor]

I read the news as well, the $3.7m is a huge amount of money, what a waste!

I think the guy entered into the mess in a bid to recover earlier losses. This is so bad to the extent that he sought loans from the loan sharks, that guy is so foolish. I don't know what a successful content creator wants to warrant so much desperation to make more money in Forex trading despite losing over and over again. Quality investments are there to make millions.

[Lanatsa]

I remember a year or two years ago when I searched for the richest skit market in my country, Mark Angle was the second. But this is what I read about him today. I posted this on local board but I still think I have to share it with you people on trading discussion. Although, it is forex but trading is just trading. Exactly the same can happen to a bitcoin trader also.

He lost $3.7 million and properties in 2024. He said losses brought him to the brink of hopelessness. If not because of some true friends and family that this guy has, probably he might have become broke by now but he saw support from some true people he has.

https://dailytrust.com/how-i-lost-3-7m-my-properties-to-forex-trading-mark-angel/

Know that bitcoin holding is different from bitcoin trading. Know that trading generally is highly risky and not far different from gambling. A lesson to those that have trust on someone who is trading that they can fail you. I believe those traders wanted to trade and make money for the guy but it went otherwise.

AI may not be accurate but I believe these are accurate:

According to some sources, around 10% to 15% of cryptocurrency traders are consistently profitable
Day trading: Only 1–3% of day traders make a profit, and only 1% do so predictably. Most day traders give up after less than a month.
Forex trading: More than 80% of retail investors lose money when trading forex and CFDs. Many retail traders don't survive forex trading for more than a few months or years.
Stock market trading: ResearchGate says that 90% of stock market traders are in loss.

Use the money that you can afford to lose to trade. Most traders could have a better life instead of trading.

There are even those talks that 90% of traders in Forex are the only ones that do lose money but actually this isnt really just that different whether Forex,Stocks or Crypto on which this is really just that involved buyers and sellers on which if there are ones who do make money then the other side is really that losing money on which this is really that typical thing. The key on here is that you dont make yourself that being having those risks management because if you are just that too careless when dealing up with trading and having no control when it comes to capital then you would definitely be having that very huge issue and you could be able to lost up everything if you wont be that careful when it comes into this aspect. This is why its really that important on having that risks management because you will be facing up that very huge problem if you wont be that careful on every actions that you are taking.

If you are someone who do step into any market with having that kind of desperation on making profits then you do end up those kind of pile up of tons of mistakes. Also, never ever chase up that loses because if you cant be easily be able to move on and trying out to chase or simply trying out to act like doing gambling then this is where most people do really end up into. This is why self control and emotion will really be that needed because if you cant be able to think up well and not wary about into the actions that you are needing to take then you are prone into those actions on which arent supposed to be done.

[Adbitco]

I read the news as well, the $3.7m is a huge amount of money, what a waste!

I think the guy entered into the mess in a bid to recover earlier losses. This is so bad to the extent that he sought loans from the loan sharks, that guy is so foolish. I don't know what a successful content creator wants to warrant so much desperation to make more money in Forex trading despite losing over and over again. Quality investments are there to make millions.

If you ask me $3.7m is about 6.1b Naira if i am not mistakenly which should use such amount for real estate business, he can buy some hectare of lands to develop build some houses and after which can be rented out just as other content creators does, but this he greed never allowed him to focused rather he wants a place to double his money so quickly without knowing the games in trading. Even if he uses such amount to hold bitcoin just imagine as bitcoin hits 108k he could have cashed out big time without losing any bit of his money, rather it just requires patients to hold till the market finally creates new ATH.

[lixer]

Indeed, and what I see in this case is a point that I often comment on gamblig. When we talk about addictions and problem behaviors, most of them can end up destroying the person's life. Some screw up health more quickly, as could be the case of fentanyl addicts, and others like gambling or in this case trading have the capacity to destroy all your wealth in a very short period of time.

Not just most but all of them actually because addiction and problem are never been good. Even if you say you are earning on your addiction, it is still an addiction or you are over doing it. You are abusing your health and this is where the problem can arise. A problem can also be separated but again, I haven't heard that a problem can give you some benefit just like what is explained earlier in addiction.

You can shoot $1M of heroin in a day, you probably can't even shoot $300 even if you have a tolerance, but you can lose $1M in a day at the casino or trading.

Can or can't? But this must be can't according on your next sentence but yeah, it looks like drugs are still much cheaper than compared to trading and gambling but it does not mean that we will now opt for them. They are still more deadly though.