I have lost over half of my net worth/life savings trading forex.

[Visaria]

Try again, reload your trading account -- usually the third time is the Lucky Charm.

But this time, prior to each trade...Pray to Jesus Christ Moses for guidance and divine supernatural light and trading abilities.
Chant to Satan as well...to cover both bases.

If all else fails...start your own Trading Academy website.
Sell memberships and packages for $500, 1000, and the Platinum Package for $5,000.

Do something crazy and exciting...like dressing up as Santa, or a frog, or a rabbit...while teaching people to trade.
You will surely stand out from all the other trading guru's out there.

Hilarious!

 

[Option_Attack]

Lost $900 bucks?

That's nuthin'! I once lost over $1300 one night gambling, drinking and messin' with loose wimmin.

But at least I didn't waste it!

 

[spindr0]

I know, right? Think of the drugs and alcohol you could have bought with $900...on top of that you'd have a story you want to tell people. As a college buddy of mine used to say, a bad hangover lasts a day or two; a great drinking story lasts a lifetime.

It's a good thing that he's young otherwise he would have had to cut back on the money spent on drugs and alcohol and use some of it to buy a woman ;->)

 

[spindr0]

At least 70 percent of my trades went in the red. I was confused because I was doing so well in paper trading. It is obvious to me now that the fact I was trading with real money put in an emotional factor that my paper trading had not prepared me for.

Take lawrence-lugar's advice and start your own Trading Academy website. Sell memberships and packages for $500, 1000, and the Platinum Package for $5,000. Make sure to give ET traders a hefty discount since we're your mentors. And please remind me to take the other side of your trades.

 

[spindr0]

Lost $900 bucks? That's nuthin'! I once lost over $1300 one night gambling, drinking and messin' with loose wimmin. But at least I didn't waste it!

That's my plan if I ever win the big lottery or Powerball. I'm going to spend 95% of it on booze, drugs and women and I'm going to waste the rest!

 

[qxr1011]

In about 2 months I have lost about $940. I am fully aware that some have lost much more than me. However, it is alot to me. I work for min. wage

consider it as the first payment for the trading education.. there will be many more

 

[Buy1Sell2]

I have gained that back and am in profit by utilizing prudent risk management.

Excellent! You have the edge.

 

[Turveyd]

If your disclude my account which I'm likely to blow at any second doing something stupid, I'm actually down to £45 left in total, nothing else anywhere, to last me till Wednesday next week.

So $960 sounds a lot to me right about know, that'd be GREAT infact.

Entire account 6K blown over night on a massive gap up.

I've seen loads of people blow 100K+ in a few months, your not alone.

Back to Paper trading, find a consistent simple small repeatable think scalping plan, repeat, repeat, repeat and you'll get there, long term holds on FX 100% gambles to manic.

 

[DaveV]

Leave any thread long enough and youre bound to get a special representative from the dumb advice bureau ...y ou to sit back and let the code do all the work.
Learning to write code can take years to do proficiently.
Learning to trade can take years to do proficiently.

I fully realize that it takes years to write code or trade proficiently. Not only do I have degrees in Computer Science and Economics, but I wrote part of Nasdaq's trading platform. I gave up my software career 8 years ago, when I started making much more money trading. My niche is that I wrote all my trading-related software myself. But I do not sit back and let the computer do all the work. Instead my software allows me do things that other traders find it difficult or impossible to do, or that I can do much faster. Coding is just another tool in the trading arsenal, not a be all.

 

[tommcginnis]

In about 2 months I have lost about $940. I am fully aware that some have lost much more than me. However, it is alot to me. I work for min. wage.

Three pieces of advice for you:
1) NO forex. RUN away.
2) "Money management" -- code for capital preservation. DO it.
3) Exponential thinking: humans have it over other animals in that we can draw lines -- 'think logically' -- but we forget that most of what we observe day-to-day is only accidentally linear. Einstein remarked, "Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it. Compound interest is the most powerful force in the universe."

That means...
finite math, algebra, calculus;
econ (micro + macro); basic accounting (understand the GAAP chart of accounts);
world history + anthropology.

And while we're at it, start a running habit: exercise/fitness will be in short supply, should you proceed.

But the bottom line? We're all jealous of you. You've done well. Keep it up.