How I lost $3.7 million and my properties in forex trading Mark Angel

A year or so back, I was looking into who the richest people in the skit market were, and Mark Angel was right up there at number two. Then I stumbled upon this story about him today. I shared it on a local board, but figured I should also post it here for the trading crowd. Yes, it’s about forex, but at the end of the day, trading is trading. The same thing could easily happen to someone trading bitcoin as well. He lost a whopping $3.7 million and a bunch of properties in 2024. Mark mentioned that these losses pushed him to the edge of despair. If not for some loyal friends and family, he might've hit rock bottom by now. Thankfully, he had some solid support from true people in his life. It’s important to remember that holding bitcoin is not the same as trading it. Trading itself is super risky and pretty much like gambling. Let this be a wake-up call for those who put their trust in traders thinking they can’t fail. I believe the traders meant well and wanted to help Mark make money, but things didn’t turn out as planned. Not saying I’m an expert or anything, but here’s what I believe to be true: only use money that you can afford to lose when you trade. Most traders could probably lead a better life without diving into trading.

One thing about people is that they don't usually calculate the risk of what they are going into before finally taken their decision on that what they are doing, most times they first incur the risk before wanting to take their decision but then is already late because they have already lose money. The major thing i noticed here is that when going into trading we should at least try our possible best to reduced the hope and the profits we would make from that investment or trading, because the higher hope you gives to that business the more risk you endangered yourself because that would trigger the level of greed in you to invest with higher amount without knowing that the more the amount the higher the risk, the lower the amount the lesser the risk. Yes you are right, trading as it says doesn't have much difference with gambling hence we should only allocate what we can afford to lose while trading.

I stink the name is familiar to me since I do watch some video from this content creator before way back when content creator is few in the social media. I think he is very popular back then and earned huge volume of views to make his account too profitable. Anyway, Forex is very risky since it contains leverage which is same on futures trading since the movement of the currencies and commodities is small. The only problem is the liquidation which makes it risky. It’s sad to see that he becomes a victim of poor trading despite of his hardship of being content creator for a long time.

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.

He thought that forex was a skit so that he could make money real easily, I learned that he treats those little girls like Emmanuelle and his other teammate unfairly in terms of financial settlements, anyways he lost because of greed, all lost to that also, he needs to quite be greedy, trading is risky and we should avoid any high-risk trading practices such as forex when we don't have the formula Becassine forex trades works with formula and only those with the working formula profits at some point. But as for this guy, Mark I wonder what he was looking for in forex to have lost such a huge amount when he has, accusations of no remittance to his team members who made his content go viral.

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.

Anyway, the reason why he lost $3.7 million is so trivial and widespread that I couldn't believe that people with that kind of capital would be able to do it. Mark Angle violated the rules of risk management, namely, transferred 100% of its capital to management.

I wouldn’t be surprised to hear one day that this same guy is actually lying to cover up for his losses or maybe how he has squandered others money and is actually looking for a soft landing by bringing up this lies about losing this huge some of money but regardless he was definitely just too greedy to look for doubling of finances where his knowledge never lies. In as much as I have been following traders and I myself usually trade I will confirm that this AI stats are nearly perfectly correct. If you look at the country or social media there is large number of self acclaimed profitable traders living the Porsche life but I tell you this 70% of them if I am been fair are actually not profitable and that’s why you rarely see them do live trading from their main account. They mostly live this social media life to actually lure mentees to buy their course or attend their classes believe when I tell you that it is this registration fees that they actually use to live their lavish lives and trade with. Imagine  them having to scoff like $10k every month from mentorship classes this will be their main capital to trade and they mostly trade with low risk trades to actually get 1:2 returns, with the mentorship money incoming they have something to fall back to even if they lose. People Like Mark are lure to this kind of people and invest their money into them by how they portray themselves and at the end they end up losing the money. This is not me saying that there aren’t many profitable traders but to be sincere they are not much and they sometimes even earn from spot trading more than from futures, Piece of advice for traders do not get Carried away by your few wins and start getting peoples money to invest for them it doesn’t end well.

When it comes to trading one should only invest what he can afford to lose . Never use all your money to trade be it crypto or forex cause without risk management one can easily go bankrupt in such a risky game like trading.

There are so many investment fraud stars around Nigeria that leverage Forex trading and cryptocurrency trading to defraud their potential victims and Mark happens to have become one of their victims, how can a guy such as Mark be so gullible enough to have fallen for this scam when himself os already I'm the limelight and have access to a lot of information that ordinary guy on the street may not have, so his story is somewhat not appealing at all imagine the amount of money he lost in the process, whereas there is an accusation against him online that he is underpaying his co skit creators and partners.

That a lot of money and it will definitely affect his financial stability. I use to know him as a very rich comedian and all of a sudden he went off coast and stopped seeing his trend on the social media, it could be those moments he lost the money in forex trading he lied low for a while. Forex trading is a very risky market and generally trading is risky and you just have to learn how to mange the risk in order not to get liquidated. He should have learnt to trade himself and get better with it with time rather than giving to someone to risk such big amount for him. Trading was never a get rich quick scheme, he should have know better and risk a little that he can beat the loss of it. If this money would have made him this broke, then he used more than what he can afford to lose for this trade. It’s a lesson learnt for those that see trading as get rich quick scheme and risk too much to trading, it’s never easy.

The story is not pretty clear about how he lost the money, but I believe he lost the money, trusting it to Forex traders who maybe have promised him signals, or he gave someone the money to trade for him on the promise of percentage returns. Regardless of how he lost the money, it is an example of a lesson that you can still be very unsuccessful trading regardless of the amount of money you have and start with. This is why you must devote and dedicate time to learning because knowledge is what is very important.

I remember one of the young celebrities in my country experienced the same thing where he went bankrupt because of forex trading, initially he got a big profit that managed to increase his assets but slowly he started to experience losses and worse, many people who entrusted their funds to him to trade in forex eventually lost everything, and he also said it was hard but he was lucky to get support from his family and managed to pay off his debts. Trading will always be risky in any type, but unfortunately it is very difficult to convince people of this, because for them the risk will provide profit without action will not provide anything, it seems right but for crypto lovers understand that being a Bitcoin holder provides more profit than trading.

Bless you, bro! That was the comment I was looking for. I'm even sure he didn't lose up to that quoted amount. Mark is known for his stinginess. I doubt he would've let out such a huge amount of cash to anyone to trade for him or him trading that capital himself. It's just media content he's creating with that to get more clicks and visibility.

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.

Definitely true, the success rate for trading is quite low, and only those who take it seriously and use the right tools are likely to succeed. It can feel similar to gambling, but gambling is even worse since it’s almost impossible to win consistently in the long run, (at least, that’s what most people say.) Maybe holding Bitcoin is the simplest way to invest. You just need to trust the market, learn how to secure your assets, and you’re good to go. The catch is, it requires patience, so that means we need to change our mindset from being day traders to long-term investors. Anothing thing to consider, if we’re not profitable as traders, it’s only the exchange consistently making money from the fees, and if you don’t have a steady income and are relying solely on day trading, it’s better to find a job or start a business. That way, you can focus on long-term investments without pressure.

I came from forex trading as I often tell people here, and you're right it's completely the same thing. Crypto trading feels more modern and you have DEX and can trade degen coins and stake etc. but really they're the same thing. Same people, same mindset. And as the story shows, same gambling attitude showing. So for as long as I'm active in trading, I'm going to always criticize irresponsible posts from people here. To me it is worse than scamming, in a way. At least a scammer purposely tricks.

They have to know that investment is safer than trading with a condition that investment is to a good asset. If people held bitcoin for many years, they would have gotten very big profit, but if they bought bitcoin and traded it, many of them would have gotten very bad and unhappy endings. Trading is risky already but if trading with Forex, Leverages, Futures, it's more dangerous and losing all or most of your capital is very easily and quickly. It is always vital for both investment and trading, no matter how small or big your capital is, if you have good approach, you will get profit, but if you have bad approach, you will have loss or bankruptcy.

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.

He is an adult and entitled to his own life but in not sure the people around him are good people financially and when it comes to management. I don't know exactly how the money were lost in batches but I'm big enough to know when to stop and cut my loss, this is not like gambling where you will be addicted and waste your funding until the wallet becomes empty, he should have stay away immediately and focus on his comedy skits for good. I don't know how anyone will still see Bitcoin and crypto but prefer forex. There is money, I know but the risk in forex is a big one but most of this brokers and fx traders don't tell them. They don't even make their money from trading, they make their money from teaching newbies how to trade and in return they charge them with ridiculous amount of money, he is probably another victim of fake trader that knows nothing about Forex.