Trader’s Tales – The Sucker Always Lose
Aisha, a True Newbie
Aisha X was a client of mine from Nigeria, ex banker in her early 30s, a sweet voice combined with a strong Nigerian accent which made me enjoy every conversation I had with her. Basically, Aisha was hungry. More than that, Aisha was starving for money…For money! Few minutes after she signed up, I received her contact info and called her up (you know, the call that makes you deposit a bit quicker, or a bit more than what you have planned…). Aisha, G-d bless her, was already hooked. She knew and believed that trading can get her big profits, she also knew the risks involved without caring too much about them, or wanting to hear much about it as well. According to her, she was just looking for a safe platform to trade on; some help with her trades and an account manager that will make her feel confident. “No problem” I told her, “welcome to the family” I added with a big smile she couldn’t see. It took Aisha 2-3 days to gather a modest sum of money to start trading on our platform. so here we are, 250$ deposited plus 125$ bonus added (after she negotiated it with me over the phone using loud giggles and repeatedly saying “please more, please more, please more..”) instead of a 50$ welcome bonus offered. It was already late afternoon so we scheduled to go through a basic training in trading early morning next day, in which I was suppose to teach her simple strategies in trading to help her get started and make small gains.
What the Hell Happened here??
Next day, when I arrived to the office and after making myself a strong black coffee no sugar, like always, I sat next to my desk and opened Aisha’s account, her balance was at 11$ instead of 375$ like it was the previous eve. At first, I thought I might have opened the wrong account but after a few seconds, I soon realized Aisha has been trading all night long… First call, no answer, 2nd call I hear a very tired “hello Thomas…” followed by a sea of excuses and infinite apologies. She started sentences with “I thought” “I wanted” “I heard” and finished them with commodity movements on the markets, “gold raising” “crude oil crashing” “silver doing back flips”. Just as a side note, you never open trades based on something you “heard” “felt” or “thought”, just pure cold blooded calculations is what is necessary to make money out of trading, all the rest leads to loss and pain and more loss. I stopped Aisha, told her “I don’t care, it’s not my money” (I’m sorry if I sound too uncaring, but trust me, I’m not. It’s just that I’m doing my job, and I really can’t help any client who loses his money. Sorry folks.) but just out of curiosity, “why?” she didn’t have any experience, 250$ is a lot of money for her, what’s the problem in waiting a few hours until you get some knowledge and tools to help you trade?! We agreed she has to deposit more, after she begged for a bigger bonus this time and honestly, I was happy to approve it because I just felt bad for her. We were calling each other on a daily basis as we awaited her to gather some funds, in the meanwhile I was giving her market information and she was telling me her problems and how she desperately needs money for rent and other basic needs.
Could that be happening again?
Thursday evening Aisha deposited 200$ in liberty reserve and was expected to deposit an extra 300$ the same night, so I told her to do so, and when I’ll come in tomorrow morning, we will choose her first few trades together and I’ll add her the 100% bonus I promised her, so she will be able to start with 1000$, make bigger trades and get back the money she lost faster. I was shocked to discover the following morning she had 23$ left on her balance (less the minimum necessary to open a trade!) and this time I snapped, I called her and had a go, I asked her if she’s got communication problems or if she’s slightly disturbed. Aisha was crying, she was telling me her cousin came in to visit, one thing led to another, they started talking about trading, and wow, what a coincidence, and the cousin was an experienced trader. So Aisha, as innocent and reckless as she can be, just left her cousin there by the computer with all of her money to lose. I told Aisha I regret, there isn’t anything I can do, I can’t even give her the bonus promised as policy says we can’t give a higher bonus than the capital existing in the account. I suggested Aisha to try something else, but to forget about trading once and for all. She has better chances making money from teaching antelopes how to count until 10 in Swedish. Now days, looking back, even Aisha would find it amusing and I’m sure that if I call her right now, she will get me to start a new adventure with her.
A lesson to be Told
We all have a little bit of Aisha in us, confusing us, messing with our head, telling us we can do it on our own and make it big… truth is, no matter who you are, 2 minds is always better then 1. Even if you are an experienced trader and you have been buying stocks whilst jesus was having his last supper, you can always learn something new from a trading colleague, maybe a new Binary Options strategy or an interesting piece of information regarding a movement on the markets.
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