My First Trading Experience: Unexpectedly Went Wrong

It was during the time of pandemic and lockdowns that we first heard about “Trading” for a “Stock Market” – the leading and the most largest market ever know where regular activities of buying and selling, and issuance of shares takes place. The announcement was heard and seen in one of the noon-time variety show. My wife was the one who heard about it first and just relayed it to me when I got home from work at night. She got interested upon hearing it and got interested in it too. Because of that we started reading articles about it from an FB post/source. The content of the articles really amazed us as it promises a huge amount of earnings that you will gain once engage with trading. Out of curiosity, we have click a link indicated in the last part of the article itself and it direct us to a certain site where it requires us to sign-up and register using names, email and phone number. Hearing about the good thought, my wife and I signed up with our personal info and then gone to sleep. The next morning, my phone suddenly rings with an international number appeared. It was a women calling in behalf of her company that resides in UK. She called because she wanted to check with me since we have signed up with them. She was asking more details about me and asking if I have heard about “Trading and Stock Market” and from whom I got influence about it and then she started to showcase her company and what services they offer of course! Our discussion really took time and ends with a question from her if I have a credit card then the  call ends when I said “I don’t have any”. My phone ringed on the next day from a man who represents himself as a “Director”. He was asking me if I have any active bank cards available and told him that I have only a debit card available which being used for my payroll and told me that it would do and just need to be funded. It took me days before I signed up completely by depositing around $ 200 that they required to my account directly from my bank to the account that they have created for me. We have made used of the money that I got from the proceeds of my loans that I have applied and granted. The following documents were then requested to be submitted before we’ve fully started.

 ·         Government ID’s with address indicated.

·         Bank statement.

·         Proof of billing

·         Proof of residency.

 A walk through on the trading was then made after that submission. Below were the list of the item that were discussed.

 ·         How the trading works.

·         What are the different currencies involve.

·         Stock Market’s availability.

·         What the blue and red line in the graph represents.

·         What percentage to be used.

·         When to click “Sell” or “Buy” for a buying and selling position.

·         When to closed the trade.

·         How long the trading last.

·         Maximum number trades you can make.

 After that, we then started our first trade and was able to closed the deal or trade with $ 12 as profits. We were then happy and amazed since we have earned $12 dollars for just a couple of minutes. Several trades then goes on and on for a couple of days. Another trades were being opened when the other trades has ended. There were events that trades lasted another day but still ends up with an earning profits. Our account managed to reached around $300 just for 3 days. My wife and I thought of withdrawing $100 (as their minimum withdrawal requirement) just for the benefit of the doubt if the trading company is really capable of paying their clients. We consulted the Director prior to the withdrawal. However, we are advised to hold-off the withdrawal as it will put our account in danger and still wants our account to grow more and more and he will then permits us to withdraw once we indeed have a lot on our account. Considering that it’s still earning, then my wife and I decided to hold-off the withdrawal.

Trading still keeps going as days passes by. Two or Three trades at a time were created to ensure profits. It indeed gained an income until it reached more than $600 just for a week. There were two trades left as it ends the first week of our trading activity with the trading company. We didn’t anticipate that those trades will be one that will cause for our account to be blown out. The trades almost lasted for 2 days and with huge negative profits indicated. It means it losing the amount that the money in our account. We still didn’t closed the deal/trade and as we are hoping that it will be able to bounced back as it normally did based on our previous days of trading but unfortunately this time, it didn’t until it automatically closes the trade and ruining our account and leaving only $21 (Non-refundable – meaning could not be withdrawn). Suddenly, my phone rings by that time. The director called and start blaming for the lapses that I made. I didn’t really thought of losing and ending up of blowing my account as I haven’t been told that it will end up like that. Then the director asked me if I can still make another deposit of the same amount that I have invested the first time just to cover up and start over again. I declined his suggestion since I no longer have any money left for us and ends the call.

 My wife and I could no longer do anything during that time but to cry for the that missed opportunities and chances that we thought that we could experience and enjoy.  We really have a lot of plans for the money that we will supposed to earned.

·         Able to pay our debts.

·         Renovating her parent’s house and making our room more wider that it was since our two kids are now getting older.

·         Support her mother’s bi-weekly dialysis and medicines.

·         Give some savings to my mother who is about to retire.

·         Save some for my kids future educations as they are about to finished elementary and one will be enrolling for college.

 All of these plans were just erased and blown out in an instant and left us nothing and even struggling and recovering from that losses until now. Though, we are still striving hard to live life and support my family needs from the salary that I’m receiving on a bi-monthly. We are trying to leave all of that experiences behind as to not to destruct and affect our every living and promise to never to engage in that kind of business again.

 I hope that I was able to share this experiences to you guys (readers of read.cash) and hope that you enjoy reading and gain something from our sad and bad experiences. It’s not wrong to dream of earning big especially if it’s intended for your family and love ones. There are really times that situations and opportunities will not go on our favor. We just need to be strong to accept failures, learn and keep going forward.

 Stay safe always, Guys. God bless!