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Please explain ? :)

Topic: Please explain ? :)

Hi guys I'm new to mt4... a friend is trading for me but I don't understand it at all...

The attached image is what I invested in... profit is in minus? And then there's a deposit and balance...

What does it mean?? Does it mean I've lost money?

And what does deposit and balance mean??

Please explain to me if possible as I'm a little worried, my trader friend is hasn't responded to me yet...

Thanks

Gary

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profit.jpg 63.47 kb, 13 downloads since 2018-01-17 

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Re: Please explain ? :)

It means you have an open drawdown of about $22k.
If you closed all your trades, you will lose $22k.

Deposit is how much was initially put into the account.
Balance is the value as of you posting.

Carl

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Thanked for the post: garyl2013

Re: Please explain ? :)

Forex is a foreign exchange market. Currency are bought and sold in forex market. If you think that price will go up you have to put buy call and if you think that price will go down you have put sell call. If your prediction rights then you make profit. But if your prediction is wrong then you lose money. To trade in forex trader need a broker. I am trading with CapitalsTrade.

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Thanked for the post: garyl2013

Re: Please explain ? :)

My trader said, the minus number (or the open drawdown amount) has been used to sell the currency at a target price next month on a certain date, if I cancel it now I will lose this number so I must wait on that day, then he will convert everything back to my original currency and I will get everything back , I won't lose anything, he said.

Does it sound legit? It's possible to do this on this app right?

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Re: Please explain ? :)

He said my account has been closed and the capital will be restored back to the original price next month... but I can still see trades... I'm beginning to doubt my trader... I don't know if it is just that i don't understand how it all works?

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Re: Please explain ? :)

If you don't know what the F*CK "your trader" is doing with your money... you are screwed.

I don't let anybody do anything with my money unless I know exactly what is going on.

You better find out ASAP!!!
Stop screwing around here!

Carl

PS.  And, sorry, trade insurance does not exist.  Don't even try that here.

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Thanked for the post: garyl2013

Re: Please explain ? :)

DEPOSIT INSURANCE smile
Insure your deposit and never lose money again
https://fbsde.com/promo/insuranceAgents?ppu=4283405

https://mt4talk.com/img/m/2/5a6267a6063381.44587604.jpg

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Thanked for the post: garyl2013

Re: Please explain ? :)

Well he told me the negative number indicates a floating rate , not a loss and I can't get my balance back yet because it was place on  buy a target price in February but since i have requested for my balance back I'll get it back in February once the target price has been released.

What do you think? Legit or no? I'm scared. sad

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Posts: 8

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