I lost about $2k learning, but I recovered that + a lot of profits
How much did you lose on the journey to becoming profitable?
- Thread starter Risepoint1879
- Start date
One can truly know all the fundamentals and still get the trade wrong.I've lost about 3k USD of my local currency.
What was the main problem? I didn't pay attention to fundamentals and important news. All my activity was based on technical analysis.
Also, I lost some cash due to lack of experience. It'd better use practice account first to understand the platform, especially if it's totally free like here (I only entered my email).
One can know all the technicals and the trade can reverse on you.
Trades can reverse on the news, both good and bad.
Experience is usually what helps most because trading is an amalgam of factors all mixed in the one pot.
And what was that "news of the day"? I clearly missed that.
Mkt spiked when news came out that snake had bitten a woman on her bare bum.
https://www.smh.com.au/national/act...-canberra-woman-s-bottom-20190125-p50tkn.html
I lost around $25K but I always considered losses as the cost of my education
I have also spent around $30K on trading courses and training material.
It has been a very long learning curve (I must be a slow learner
)
I trade spot forex and it took me around 5 years to have a full profitable year.
Now I'm in my 8th trading year and no longer working full time.
I make enough money from trading but I miss the job I had and the interaction with people.
On the plus side, I now travel overseas for approx 5 months of the year.
I have also spent around $30K on trading courses and training material.
It has been a very long learning curve (I must be a slow learner
) I trade spot forex and it took me around 5 years to have a full profitable year.
Now I'm in my 8th trading year and no longer working full time.
I make enough money from trading but I miss the job I had and the interaction with people.
On the plus side, I now travel overseas for approx 5 months of the year.
They caught that snake, but did you catch that move ?
I should follow a course: How traders should find and read the news.
About $23,000 over the course of 14 years (1969 - 1983). Been profitable every year since. Worst year was 2008 - made 11%. Wife OK with it.