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For the contra players....

solidbuy
Veteran

04-Oct-2013 14:59

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Good to know that you save yourself from further damage.....Family is most important and glad that you have your family to support you.....

LIVE WELL :)

Sofarsogood? ( Date: 04-Oct-2013 14:56) Posted:

Dear all, thank you very much for all your advice.

I have just cut all my contra position. Although I should have cut yesterday than today. I seriously can't afford to take anymore exposure. I don't want to leave it open over the weekend.

Yes - my goal now is repay all my debts and stand up again. I know it is going to be very very extremely tough and sour. My wife used very very nasty words to me, nonetheless, she help me to pick up some of my contra position too to reduce my loss. My mom cried and told me not to do anything silly. If I did, she will do the same. All of my family members decided to keep this apart from my father as afraid that he will get heart attack if he knows this. It is really very very bad.

I promised my family members I fell down, cried, but I will stand up again.

All the best everyone. Take care and God bless.

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Sofarsogood?
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04-Oct-2013 14:56

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TsquareB
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04-Oct-2013 14:51

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Tks bro moneycow. Cut this morning liao.

moneycow ( Date: 03-Oct-2013 16:32) Posted:

you are aware that there will be consolidation of shares...very soon.

Cheers.

TsquareB ( Date: 03-Oct-2013 16:28) Posted:

I am also vest in albedo now

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medivh
Elite

04-Oct-2013 14:42

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This post serves as a very good warning sign to bros / sis in the " Any stocks also can discuss forum"

Thanks for posting this bro. Am sorry to hear your plight ,

but one thing you must do now, immediately is stop all contra trading.

Give a call to your broker or broking house and tell them to suspend your acct.

nego on the payment scheme as what I read, I know you cannot pay up all your losses.

confess to your wife and every one who can help support you.

Remember: never borrow from legal or illegal money lenders. else u will be in greater regret and distress.

Sofarsogood? ( Date: 03-Oct-2013 11:04) Posted:

Dear Readers,

I am writing this post to share with all the contra players on what has happened to me as a frequent contra player.

I am in my early thirties and started to play contra 2 years back. When I just started, my contra limit that I played was approximate SGD30k to SGD300k as of today. My accumulated losses (losses net of profits) arising from contra when I just started were also growth from SGD20k to current more than SGD200k. I can make SGD30k a day and lose SGD50k a day. I am now in deep debt and owing bank, family and friend of more than SGD200k. As of today, i still have huge open contra position on AP Strat and Albedo.

I am writing this to share with all the contra players (especially newbies) that if you are intending to start or in the beginning stage of playing contras, please think twice and reconsider. You can make fast $$ and also lose a lot too. I am basically broke now (yes - I am unofficially broke) and I have decided to stop playing contra. My family, career are all badly affected. My wife is suggesting for a divorcement with me and I may be losing my 10 months old baby too. I am into depression, really regret and remorseful of my actions.

I hope this short note will help, hopefully, the newbies or contra players not falling into my situation. I have nothing against investment in stocks (buy and hold for capital gain) but importantly to invest within your means. I am making this post as I think this by sharing my situation with the contra players is the little thing that I may be able to do for the society.

Take care & God bless.

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librajet
Elite

04-Oct-2013 14:18

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Bro, just close all counters and look at yr damages, u sure have to face it. I understand yr biggest fear now, where to get the money and not to let yr wife, relatives and friends know about it, its a very tough time for you. Who and where to look for cash to pay debts will let u live like a zombie, repaying them will cut u further. Bro, we make the mistake, just have to face it. Dont give up thinking u have no option, u r always bigger than life.

In my past, i have lost million before, was not easy to overcome. Hated the world, put family in trouble, but I hold on and walk. Yr msg only remind me of what me and many have gone thru. I believe I carry my name well here in many threads but when I said I join you to leave trading, many were shocked. I received many PMs and calls from them, but I stand by my word, BRO, I join you, lets walk out NOW.

Bro, situation can only turn worst if ur still trying to gain something back from here. Good luck to you, looking for a brighter future ahead. Cheers

Sofarsogood? ( Date: 04-Oct-2013 12:09) Posted:

I know Bro Librajet. I am just trying to close all my position with minimum losses and STOP thereafter. That's all I am asking for now.

librajet ( Date: 04-Oct-2013 12:05) Posted:

Bro, dont blame God for what we have done, our own mistake. Trading is always a guess and hope game. My most sincere advise to you, in what condition you are out this time, it can be very very bad, nvr walk back here again. You can see, mkt is always bigger than us, be it you play big or small or you have holding power, nvr turn back here. I strongly believe many are much worst than you today, counters suspense is no joke, it can suspense for weeks, months or years, those bot or short today all need to pay first and wait for their verdict, what if they have no money???? Bro, you are bigger than life, move on, cheers

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shareluck
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04-Oct-2013 14:03

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many kind people here

cheer!

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alvinngsh
Senior

04-Oct-2013 14:00

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Bro Sofarsogood my point of view is family more important once broken hard to patch back , money can earn back, if u are sincere and wanted to stop trading pls do it. Seat down discusses with your wife I think it can be settle.

Wish u all the best.

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Siwomp
Veteran

04-Oct-2013 13:46

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Bro Sofarsogood,

Stay strong... I have survive and emerged stronger not once, but twice in my xx yrs

of trading. Years later, when you look back, you probably will realise it is not such a big deal after all. Give the credit management guys a call. it helps.

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heavenknow
Member

04-Oct-2013 13:18

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Hi bro Sofarsogood, have you tried contacting CCS (credit counselling singapore) for assistance? I work in the collections dept of 1 of the local bank. I have heard and saw alot of cases that are much much worse. But they went to CCS for help on their bank debt. You need to have a full time job, the determination to swore off trading and work towards debt reduction. The main thing is still not adding to this debt already.

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Sofarsogood?
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04-Oct-2013 12:09

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I know Bro Librajet. I am just trying to close all my position with minimum losses and STOP thereafter. That's all I am asking for now.

librajet ( Date: 04-Oct-2013 12:05) Posted:

Sofarsogood? ( Date: 04-Oct-2013 11:56) Posted:

Bro Librajet, I am unfortunately. I have not cut yesterday as hoping that US Government will reopen and market will rebound. My losses just grow by 20 to 30k. It is really very very bad. God is not giving me a chance to close all my contra position with lesser losses.

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librajet
Elite

04-Oct-2013 12:05

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Sofarsogood? ( Date: 04-Oct-2013 11:56) Posted:

librajet ( Date: 04-Oct-2013 10:48) Posted:

Bro Sofarsogood, hope u r not hit today, cheers.

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Sofarsogood?
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04-Oct-2013 11:56

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librajet ( Date: 04-Oct-2013 10:48) Posted:

Bro Sofarsogood, hope u r not hit today, cheers.

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ballball
Master

04-Oct-2013 10:51

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你是好人，会有善报！！

librajet ( Date: 04-Oct-2013 10:48) Posted:

Bro Sofarsogood, hope u r not hit today, cheers.

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librajet
Elite

04-Oct-2013 10:48

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Bro Sofarsogood, hope u r not hit today, cheers.

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hyekyo88
Member

03-Oct-2013 16:33

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what does that mean Master moneycow?

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moneycow
Master

03-Oct-2013 16:32

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you are aware that there will be consolidation of shares...very soon.

Cheers.

TsquareB ( Date: 03-Oct-2013 16:28) Posted:

I am also vest in albedo now

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Speedy
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03-Oct-2013 16:32

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May God bless those holding Albedo

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jomini
Veteran

03-Oct-2013 16:31

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Yells: "slow down, think, question"

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boss. i think u got a gambling addiction. gotta seek help. take care k

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TsquareB
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03-Oct-2013 16:28

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I am also vest in albedo now

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hyekyo88
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03-Oct-2013 16:26

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yes, Bro sofarsogood mentioned he is on contra for Albedo. so i vested in Albedo now... :P

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