Hi,
I have signed up here while exploring google for ways out.
I have made a serious mistake from something which clearly consumed me over the last 5-6 years. I have lost serious money, taken on debt and lost friends money.
I started trading CFD's and spreadbetting on platforms like 212 and IG. Started from knowing nothing, some nice wins but overall, I have ended up here with nothing.Â
I was always the most sensible person with money, never got loans, budgeted, spent what I could afford on what I needed. I treated myself along the way, at 1 point, had 4 porsches, my own flat, I had it all tbh and I was happy, free, clear minded.
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But I saw a youtuber, promote 212 trading and what it could achieve and I got sucked in from that point on. I had some initial losses, I think £8k was the first and that hurt, so I stopped, I later came back, eventually lost £30k, had a 6 figure winning period but then jsut watched it fade away, found more money, put that in, and so the pattern continued. I got a 40k loan, lost that.Â
I sold cars, lost that money, I sold my property while renting in between buying another house, lost that money, so now I'm stuck renting with my wife and 3 year old.Â
Friends would hear me talk and see some of the postive results, they've given me money, 30k and 90k, lost that.Â
Parents bailed me out on the house front, gave me 130k, lost that.
I've basically kept putting everything i can possibly find in, and eventually lost it, over leveraging, getting margin called on big gaps when opening. I screwed up big time, i've spent the last year permanently fixed to my screens, I'm not the guy I used to be, I looked haggered, I haven't given the time my wife and son deserve, my mind is elsewhere, I am a zombie most of the time and generally can't get the weight of the losses of my shoulders.
I have a job, the pay got reduced after covid and i feel like that pushed me to keep going with trading and the dream of being a trader, working for myself, anywhere, took hold.
I'm left with loans, friends who dont yet know I've lost their money, my wife who doesn't know the full extent, parents who don't, I've lost it all, screwed myself, messed my sons future up, we jsut found out we are expecting another, it's game over for me. There is no way to recover this. I only have some low value cars but beyond that, I now have nothing and no hope as I have ruined the future for my family, no holidays, no nice things, my son will grow up to learn his dad turned into a loser.
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If it wasn't for the loan and money lost for friends, it wouldn't be so bad but I can never repay that now. They won't want to talk to me although they knew the risks.Â
My life is over
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Hi welcome to the forum and thank you for your post.
Well done for reaching out and sharing your story, if you ever need any further support then our helpline is open 24/7 so please do not hesitate to reach out: tel:08088020133 https://www.gamcare.org.uk/ Â
We are always here for you so please do not go through it alone
Best wishesÂ
Forum AdminÂ
Lauren
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They say money is the root of all evilÂ
In your case it rings trueÂ
Crypto , forex, and trading all fall under hardcore gambling as far as i am concernedÂ
The way you are talking about these sums sometimes in the region of hundreds of thousands is probably beyond the remit of most people hereÂ
I would urge you too seek professional help urgentlyÂ
But where? No one is bailing me out, I literally have no options to stay afloat at all.Â
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I have ruined mine and my families lives!
if you haven't already, please seek professional help it will only get worse without it. You are not a loser, the fact that you are here & reached proves you're not a loser. Speak with Gamcare they will support you through this.
Good luck
Angel x
Life will never be the same. But who's to say it's not going to be better in the future. You are still here, living and owning up to what has happened.
You have to understand the illness. Would you have done these things if you were thinking clearly and rationally. Addicts do not think about what removed link 's about placing that bet and chasing your losses.
Until you understand this, learn to accept it and get yourself professional help only then will you be able to start dealing with the whole situation properly.
It's going to be a long tough journey for yourself and your loved ones but there is always a way through it.....
Best of luckÂ
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You are not alone and your story sounds very much like mine. Entered the stock market thinking I new better than others. Over time as knowledge of the markets grow I starting seeing a way to make money. This was true, but my personality took over and wasn’t long before placing leveraged £80k trades (single transaction) on shorts/longs that were only supposed to make a few hundred…awful risk reward I know…for the trade to be negative and stops being adjusted, watching every tick for a rebound.Â
The hardest thing then is you would close out for it to rebound instantly making you want to do it more.Â
I have recently told my wife my issues and have my first call with professional help arranged for next Wednesday.Â
I just wanted to let you know, you are not alone, with this trap finding many others like us!Â
after telling my wife, I can now start to climb out of this hole with a ladder, rather than my spade. Going to be very difficult but I believe good things will come and you should too.Â
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So theres always a way out. Mine was bankcruptcy very extreme but wiped the slate clean. The friends who you owe money to theres not much you can do about that. Get some debt advice first though before you do anything drastic but if there is no way of paying it back look at all your options.
I thought at one point i couldnt go on, i had to come clean to everyone i knew and that was the hardest part but a weight lifted once i said it. Family wouldnt speak to me they came round eventually.
the day i signed the bankcrupcy papers was the best night sleep id had in years.
Then i started a fresh. Im back here as im struggling once a gambler it never goes away. It is an ongoing battle with stopping.
There always a way its just the right way to gain back control. There are debt charities out there that will give u the options availableÂ
Joining this forum is the first step. You are on the road to recovery
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