Have You Ever Been Duped Into Doubling Your Money?

bleujay 9 days ago

Greetings @josediccus ,

So enjoyed reading your post...It is so true.

The nature of reward is that you work for it...or at least I think that is still true.

I had to smile at your last line here.... 'That is the benefit of being wealthy: you can afford to die without dying completely.' ^__^

Kind Regards,

Bleujay

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josediccus 9 days ago

I had to smile at your last line here.... 'That is the benefit of being wealthy: you can afford to die without dying completely.' ^__^

Yes, haha. I'm glad you completely agree with me. I think it's true. When one is wealthy they can afford to make a lot of mistakes because they other financial backup that can save them. This is what I truly intended with that statement.

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fredaig 9 days ago

I do wonder why people get involve in forex, i can never try such. Its a dangerous deal. The fact is greed and impatience. If its that difficult i do wonder how people make it in forex

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josediccus 9 days ago

There's a lot of money involved, so. The people who has mastered the art are sadly the ones who makes profit

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fredaig 8 days ago

And that act can take decades to master

detectblock 9 days ago

Greed, and I’d add foolishness. But in the end, that guy bought himself some experience—though it cost him dearly, he’ll remember it for the rest of his life. That experience is priceless. Most of the time, we learn life’s lessons when we have to pay for them. If a person doesn’t pay for their lessons, they tend to ignore them and go in circles.

That guy had neither the theory of how it works nor the practice. If someone gets into something serious without theory or practice, it’s likely foolishness—and it will hurt. Practice without theory is dangerous; you’ll get bruises. And theory without practice is useless.

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josediccus 9 days ago

I agree. When we don't truly pay, then we hardly learn. Sometimes we pay with irreplaceable things, sometimes things that can be replaced. The lessons are hard when the loss is unimaginable and huge. He's had to learn the hard way and sometimes the hard way is always the best way to matter how cruel it can be.

I think if he had taken the time to learn, there's no way he'd be getting into that stuff with 3.7M, that's a lot of money on something you probably don't know how it completely works.

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detectblock 9 days ago

I think this year, the cryptocurrency market will be filled with similar cases. People will imagine themselves as market masters and start investing sums that are irrational for their circumstances. The guy in your story got off easy—he didn’t lose his last money, and he has the skill to earn more. It’s much worse when someone saves money for years at a hard job and then loses it in forex, cryptocurrency, stocks, or gambling—it doesn’t matter. That’s a problem of mindset.

You have interesting posts. May I ask, why do you publish them in a community where the language is Italian?

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josediccus 9 days ago

You're right. This year, folks will do a lot of crazy stuffs with crypto. However, I even feel that crypto will have lesser damage effects more than what this guy actually dipped his fingers into. He's a popular comedian in Nigeria and in 5 years, he'll probably make the money he has lost if he still has the relevance to do so.

He worked hard, but was just stupid to lose it in that way..

You have interesting posts. May I ask, why do you publish them in a community where the language is Italian?

Oh, this is an Italian community truly, but it's allowed for me to post here. I know the folks here, and I like it here too. Plus, I'm using the Leofinance interface inleo.io to actually post.

valggav 8 days ago

dividend titles are a certainty

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jfang003 8 days ago

It hurts but that is what happens when you delegate that responsibility to others. Unless it's a firm that has a great reputation and some legal recourse to get back your funds, I don't think it's worth it risking it on Forex. It also sucks to hear that he gambled with his income rather than disposable income. I guess we can just learn from the bad experiences that others got and make sure it doesn't happen to us.

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josediccus 8 days ago

I don't think he should have even delegated that responsibility to another person. There's no one that can better manage your money unless you. He made a terrible mistake by thinking money is easily multipliable.

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libertycrypto27 8 days ago

!PIMP
@tipu curate

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tipu 8 days ago

Upvoted 👌 (Mana: 14/44) Liquid rewards.

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josediccus 8 days ago

Thanks a million ser

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nkemakonam89 8 days ago

Greedy in the highest order...I also heard about the news and how he attempted suicide, not too sure about the suicide, perhaps a rumor? Whatever but like you said, I also sensed he didn't do the trading himself otherwise he must have been transacting gradually and know when to back out if it's not favoring him just like my husband. Lol..why do you think my husband accepted to invest on hive? It's because he lost while trading forex...I told him but he wanted where it's happening..now he has embraced patience and started learning crypto ..

Good enough, this comedian is already made financially..so I believe he wouldn't die in depression over his predicament but start all over in accumulating funds, and probably choose a better investment this time.

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josediccus 8 days ago

I'm not sure he attempted suicide, if not who will be left to enjoy the estates he has?
I think we can say he was depressed which is normal for someone who went through loss. However, I don't pity him. He was already rich and comfortable. If it was someone that's struggling and needed money it could have been understandable, unfortunately he wanted to multiply his money without doing much and he paid dearly.
As a wise man that he is, he could have chosen the path of crypto.

I won't advise anyone to do forex unless perhaps they don't need that money, then they wouldn't mind losing the money.

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takhar 8 days ago

Greed coupled with impatient is a dangerous emotional state to be in. The person who sold him the dream of multiplying his money rather quickly is probably a genius in human psychology. Even those who've become wealthy haven't transcended basic human instincts.

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josediccus 8 days ago

Even those who've become wealthy haven't transcended basic human instincts.

I think this is true. However I believe wealthy people must've gotten through some essential financial and psychological life lessons on their way to building their wealth and most of them knows that much not to gamble with what has taken them years to actually build. However in this guy's case, I just think the dream he was sold was just too much to ignore for him

sirfx 8 days ago

Hahaha!! The fact is, Forex trading isn't a get rich quick play ground. Have traded Forex for 5 years now, I have died many times and resurrected. I will say; today am happy, I can bring up a complete beginner in to becoming a good trader. But the journey is not in a day.

gloriousbee 8 days ago

One thing people fail to understand is the risks of chasing quick wealth, especially through high risk stuff like forex trading. The early people learn that financial success requires knowledge, patience, and strategic investments rather than falling for promises of instant riches the better. Thanks for this beautiful piece

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josediccus 8 days ago

Yes, forex is not a get rich quick scheme, but there's nothing wrong with chasing wealth, I just felt in this instance, it was a case of pure greed..

gadrian 8 days ago

Have You Ever Been Duped Into Doubling Your Money?

No, but I once added some fiat (not much) to a trading platform where I could play with leverage and ended up not being able to withdraw my profits (or initial investment). Turned out they were crooks, but the platform seemed legit at first. So I guess that's worse than losing on Forex, but at least with small amounts. I both won and lost on Forex too in the past, btw, overall probably broke even.

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josediccus 7 days ago

I think getting duped can be hard. However, knowing they you might get duped and still didn't choose to do your research and still get duped, I think that's probably the height of it.

meyateingi 5 days ago

I wouldn't tag him as greedy tho,he only wanted to make more money, after all people have been investing in forex and also getting profit. I also think since he invested that much at a go, maybe he has been doing it for awhile too, you'd never know when the market might go south. These people only come out to talk when they loose money and not when they make profit.
And I also agree with you, he definitely had someone who was trading for him.

For all these rich people, forex is more like a money doubler without any effort for them so all they do is throw their money only to cashout later.

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josediccus 5 days ago

3.7$ million. In my book it has to be greed. That money is close to 6 billion Naira. 98% of Nigerians hasn't seem one billion, talkess of 5. Two of his generations can keep spending that money and that's how long that money actually is.

There are actually other ventures that could bring money slowly, over the years, but because forex seems quick and sharp, his forex vendor must've promised him how much they could cash out. For someone who was already financial free, what more do they really want out of life?

However I'm not judging him, God forgive me, if I appear to. I just think that financial responsibility includes contentment and being prudent and diligent in investing.

meyateingi 5 days ago

I didn't see the $$, I thought it was in Naira oo

Now that's greed, pure one at that

theiam 5 days ago

♦️ You got 0.01 FELT for sharing high vibes on Hive.

📋♦️ FELT Info

aquarius.academy 3 days ago

Keep being fantastic 🌈