Options, 100% puts, figured 1 last push down then reverse hard, 100% calls and within a week I'd of had 100k+++++ easy
dumb ass
I have lost over half of my net worth/life savings trading forex.
- Thread starter boza
- Start date
Options, 100% puts, figured 1 last push down then reverse hard, 100% calls and within a week I'd of had 100k+++++ easy
dumb assHere's something to make you feel better.
I started trading when I was 26 (I'm now 31). Like an idiot, I took $1500 and figured that I'd trade cocoa futures. That $1500 was almost all I had. On top of that, I hadn't done enough research to attempt what I was looking to do. After about day 3, I made $400 that day. Good start, right? Well, I decided to buy a contract right before cocoa closed that day in anticipation of the market going up the next day. Believe me when I tell you that cocoa opened and gapped down for an instant loss of $1000. I was devastated but I figured that I'd make it back. So, I deposited more money into my account to get it back up to the adequate margin requirement level. What happened next was beyond stupid....
I'd done technical analysis on cocoa and figured that it was going to go down. Get this....cocoa was at a support level and my reasoning was that support wouldn't hold, so I shorted at that support level. Well, over the next week, cocoa went on to rally more than 400 points. Thankfully, I was able to get out with only a loss of $800 instead of being not only wiped out, but owing money.
I said all of that to say this. Be glad that it's only $900. Just keep working your job, saving your money, studying the markets and so forth. After a while, you'll be making $900 with frequency if you stick with it.
I started trading when I was 26 (I'm now 31). Like an idiot, I took $1500 and figured that I'd trade cocoa futures. That $1500 was almost all I had. On top of that, I hadn't done enough research to attempt what I was looking to do. After about day 3, I made $400 that day. Good start, right? Well, I decided to buy a contract right before cocoa closed that day in anticipation of the market going up the next day. Believe me when I tell you that cocoa opened and gapped down for an instant loss of $1000. I was devastated but I figured that I'd make it back. So, I deposited more money into my account to get it back up to the adequate margin requirement level. What happened next was beyond stupid....
I'd done technical analysis on cocoa and figured that it was going to go down. Get this....cocoa was at a support level and my reasoning was that support wouldn't hold, so I shorted at that support level. Well, over the next week, cocoa went on to rally more than 400 points. Thankfully, I was able to get out with only a loss of $800 instead of being not only wiped out, but owing money.
I said all of that to say this. Be glad that it's only $900. Just keep working your job, saving your money, studying the markets and so forth. After a while, you'll be making $900 with frequency if you stick with it.
I don't know if you mean me from another thread, or the OP here (but I don't recall you asking for a cookie in this thread from OP), so here, this should cover both bases...
A brownkie! (who comes up with these names haha)
See, this is why I don't post much here, Trolls like you. I'm trying to lose weight, and just like Iblis, you are tempting me to defile myself. hehehehehee
The Ever Tempted VIPER
You need to have a proper amount of practice so that you achieve the skills that are required to make some good money online in the Forex Market.
its always a sad story, one of the first things i learned back in 2012 was never trade money you cant afford loosing, and dont put all your eggs in one basket, my largest ever lose in one trade was roughly around 950 usd, but we learn thrive and move on. thats about what we can do, and today i actually appreciate 100-200 monthly profit on my hotforex account even if its a mere 5-10% of total account, even break even seems to be a good result.
Many traders have lose lots of money, in the Forex Market, but they lose it because of their lack of knowledge and experience and skills that are needed to become successful in the Forex Market.
Is this true? My reading of my own failures is:
1. Bad risk management (stops too close, or too far)
2. Bad tools (IB is pretty horrible)
3. Analysis paralysis or putting too much emphasis on the downside when making a decision
4. Not following a trading plan
What do you think? What should I add or remove from this list?
Since you are making minimum wage your taxes should be nill. Write off the $300 pops knows about and forget about the other $700. You don't want to lose the gravy train.
This is not the worst mistake an 18 year old ever made. You can always trade again when you get out on your own.
You need to have proper amount of knowledge and experience and skills to make some good money online. Unless and Until if you are not confident enough in the Forex Market, you cannot enter in the Forex Market.
what the F does this even mean?