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

We always gain through the Forex Market, whether you make profit or have loss, in both terms. Profits earns us money and the losses earns us experiences
 
I am feeling very disappointed my reading your stories. But I must say what you are sharing is implicitly pointing only one thing and that is forex market is a volatile, risky and competitive market. So here we can even loss money at the blink of eyes and we can earn significant money in the same way if the trading decision is wise and right. So instead of cursing yourself hold your emotions and try to work with reliable platform and take practical decision.
 
Garett Sim said:
I am feeling very disappointed my reading your stories. But I must say what you are sharing is implicitly pointing only one thing and that is forex market is a volatile, risky and competitive market. So here we can even loss money at the blink of eyes and we can earn significant money in the same way if the trading decision is wise and right. So instead of cursing yourself hold your emotions and try to work with reliable platform and take practical decision.
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yeah it definitely is competitive. that is why I feel rather hopeless about this. The banks I would be competing against have enough money to hire some of the best traders in the world.
 
maxinger said:
well. At least you dare to track how much money you have lost.
one plus for you.

I didn't even dare to to track how much money I lost.
Those were the days.
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what percentage of your net worth do you estimate you have lost?
 
themickey said:
QUOTE="bozzo, post, member: "]
Introducing myself to ET, just want everyone to know as a first and only time poster I'm a loser, I have lost about $940 trading, I was hoping to get rich quick. I am fully aware that some have lost much more however, it is alot to me. I work for min. wage at Mcdonalds flipping burgers.

Before I started trading live I was paper trading and did extremely well dont we all?
Originally my plan was to trade spreads but i was unable to produce a bank statement to open an account as I have no money so I took my business (if you can call it that) elsewhere.

When I started trading live most of my trades went against me. 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.

One time I holding a short position over the weekend in the USD/JPY. I was wrong and it gapped up at the Sunday open and I was down about $70. When I got home from Maccas and I saw this I yelled the f word, which caused my dad to ask my mom what the problem is. A few days earlier I had told her I was losing money and she told him. Upon hearing this he came downstairs and told me to stop throwing my money away and that he's going to stop supporting me if I keep doing what I'm doing (I'm 18). At this point I was down about $300 which he did not know about. With tax season coming I have no idea how I'm going to explain to him why I'm writing off almost $1000 in capital losses. But anyway, I know far more about trading than dad, he's clueless, no point discussing anything with him.

One big thing that made me not really think about risk management is the lack of horror stories online. The reason for the lack of horror stories is because I don't read or study. Even though I'm posting on ET, the reason I'm on ET is to post, not to read.

Everyone wants to talk about how they turned $5000 into $50,000 in one year trading the ES or whatever, but no one wants to talk about how they lost everything they have. The main reason I am posting this is to stop other people from going down the same path and at my age with the losing I think I'm well enough experienced to give others some advice.

Anyhow thanks for wasting your time reading this and replying, I'm cacking my pants with laughter because of all the mugs who come here. Yep I'm a loser and so are you, the only difference is I'm not afraid to tell the world. See ya later, I'll be back again soon with a new user name and new BS hardluck story.
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Your written work has accomplished many things - At somethings as you are only to aware of by now - It has given others a change to air there views as well others a chance to learn from your mistake and thought the intelligents of other people who have provided further insight into your dark area - Please provide further posts as of simulated thought - As of the young days.
 
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