Hi
I got a lot of calls from the above company a month back pushing me to get into the forex market. They operate out of China but the guy was a fellow countryman. He was guaranteeing that the dollat would go to 1.60 within a couple of months and wanted me to take out a loan to get into the market. After saying no god knows how many times I gave in and came up with enough money to buy 4 options. The guy told me I couldn't lose - at least I couldn't lose more that what I put in - that only happens with futures.
I feel very stupid now. The price has dripped almost 4 cents since I got in and I have no idea what trouble I might be in.
When I tried contacting the company over the first couple of weeks the phone always seemed to be engaged. I left a Helpdesk note and the guy did get back to me almost a week later - at the time I couldn't take his call as I was in meetings related to my own work.
The price went up a couple of cents in the first couple of weeks and I wanted to get out but was unsure if that was the right move as the strike price was still 4 cents higher that that. I couldn't contact the company to confirm if I should exit or not. A few days later the price dropped and has continued to drop. I did manage to make contact with the company last week and a new trader spoke to me trying to reassure me that the price was on the way back up. I tried contacting again the following day to see if I could just get out and see what I would lose but I have not had any luck in doing that yet.
What can I do?
Thanks
John
I got a lot of calls from the above company a month back pushing me to get into the forex market. They operate out of China but the guy was a fellow countryman. He was guaranteeing that the dollat would go to 1.60 within a couple of months and wanted me to take out a loan to get into the market. After saying no god knows how many times I gave in and came up with enough money to buy 4 options. The guy told me I couldn't lose - at least I couldn't lose more that what I put in - that only happens with futures.
I feel very stupid now. The price has dripped almost 4 cents since I got in and I have no idea what trouble I might be in.
When I tried contacting the company over the first couple of weeks the phone always seemed to be engaged. I left a Helpdesk note and the guy did get back to me almost a week later - at the time I couldn't take his call as I was in meetings related to my own work.
The price went up a couple of cents in the first couple of weeks and I wanted to get out but was unsure if that was the right move as the strike price was still 4 cents higher that that. I couldn't contact the company to confirm if I should exit or not. A few days later the price dropped and has continued to drop. I did manage to make contact with the company last week and a new trader spoke to me trying to reassure me that the price was on the way back up. I tried contacting again the following day to see if I could just get out and see what I would lose but I have not had any luck in doing that yet.
What can I do?
Thanks
John