this post was submitted on 20 Nov 2024
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Technology
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Reminds me of the time I started learning about forex. I used a practice account to test an algorithm for recognizing short-term trends and trading on the activity. I ran a simulation for a few days to make sure it was working, and my fake $10,000 bankroll turned into $50,000 in less than a week. I was excited about the results, and went to explain it to someone with deeper pockets who might actually have $10k to invest, and in the time it took me to walk from my desk to his and back, it went to less than $600. Five minutes, $50k wiped out.
Needless to say, he didn't invest and I stopped daydreaming about owning a yacht. Forex is gambling.
"I turned around to light my cigarette and when I turned back I had lost what I had in my account" - a friend of mine