It's good to be in losing side in initial before feeling super great in winning side at last. Much much good than the worst vice-versa.
I have lost over half of my net worth/life savings trading forex.
- Thread starter boza
- Start date
Well at least you have to eliminate this emotions from your trading. Then you will considerable improvement in your trading psychology
I wonder how Boza is doing? How did he do with his parents at tax time? Is he trading bitcoin now?
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yeah a difficult ask though an extremely important one. It is very much essential to contain your emotions. They can have a drastic effect on your trades otherwise
How did you get your account opened? Did you lie when they asked about your net worth and liquid assets? Why would you trade on such micro account. Have you ignored all the warnings that are circulated by everyone to not trade on such small account size?
The mere hope, a slim chance that you can win destroys all common sense of the guys who join. We all want to earn that's why we have to risk.
No trading with small amount is good, 10x's his account and his loss would be the same 50% of his account or $9400, everyone loses at first, greed and fear are hard to master so that's good.
Everyone lies on the account opening, it's upto us to understand and accept the risk and out own personal circumstances.
A society is doomed when even children from birth are educated and taught that the number one aspiration and modus operandi is "winning" when it should actually be being truthful, ethical, and morally upright. Unethical obtained wins generally stink and wreck everyone around one. Questions on account opening applications are intended to protect consumers as well, there are too many idiots among us in society who would not only harm themselves but hurt others around them if everyone was given entirely free choices. Aside that, some falsely provided broker account or bank account application information items constitute wire fraud and are a criminal offense.
You may of course dislike that concept and I would agree with you if you said that this concept is not preached nor lived anywhere anymore (though I would say Japan comes pretty close).
Re small accounts, if you read the OP between the lines it would have become clear that the intent of OP was not to learn but to get rich quick. Small accounts bankrupt people quick, that is all small accounts do to anyone who does not peruse them for the intended purpose, which is to learn.
You may of course dislike that concept and I would agree with you if you said that this concept is not preached nor lived anywhere anymore (though I would say Japan comes pretty close).
Re small accounts, if you read the OP between the lines it would have become clear that the intent of OP was not to learn but to get rich quick. Small accounts bankrupt people quick, that is all small accounts do to anyone who does not peruse them for the intended purpose, which is to learn.
There were no lines to read between here. The guy stated he lost over half his life savings of $940 over two months. I'm sitting at an unrealized loss of -$900 as of 6PM ET Friday, accrued over 5 hours, as I type this.
Why is this thread still alive? Good grief.