Is this what trading is like?

[farmerjohn1324]

I'm long USD against both EUR and CHF.

At market open Monday, it had gapped down significantly in my favor. But then started going in opposite direction. I took this as a buying opportunity and add 0.55 lots against the EUR. Well it kept going the wrong way and I had margin calls and had to sell 0.2 lots. At one point yesterday, my original $10k account way down almost $2k (20%). Now things are looking much better and I'm up $316 on the account. I'm still counting on longer-term downtrend in USD, but I have TP's in place.

Such wild swings. Is this what's normal?

As recently as last Friday, my account was up 6%. Then down 20%, now up 3%

 

[globalarbtrader]

I'm long USD against both EUR and CHF.

At market open Monday, it had gapped down significantly in my favor. But then started going in opposite direction. I took this as a buying opportunity and add 0.55 lots against the EUR. Well it kept going the wrong way and I had margin calls and had to sell 0.2 lots. At one point yesterday, my original $10k account way down almost $2k (20%). Now things are looking much better and I'm up $316 on the account. I'm still counting on longer-term downtrend in USD, but I have TP's in place.

Such wild swings. Is this what's normal?

As recently as last Friday, my account was up 6%. Then down 20%, now up 3%

Your position is far too large relative to the size of your account.

GAT

 

[padutrader]

if you are asking such questions what the hell are you doing trading a live account.

you have the opportunity of trading a demo account to learn about such things.

something i never had when i entered the markets in 1987.

 

[Dr_Trade]

I think you have not planned and backtested your strategy for the timeframes on which you want to trade. I think 20% down was a big move. Always backtest and trade with stoplosses to mitigate the downside risk.

 

[farmerjohn1324]

Your position is far too large relative to the size of your account.

GAT

What would you suggest? I currently have 77% of equity used in trades.

 

[maxinger]

I'm long USD against both EUR and CHF.

At market open Monday, it had gapped down significantly in my favor. But then started going in opposite direction. I took this as a buying opportunity and add 0.55 lots against the EUR. Well it kept going the wrong way and I had margin calls and had to sell 0.2 lots. At one point yesterday, my original $10k account way down almost $2k (20%). Now things are looking much better and I'm up $316 on the account. I'm still counting on longer-term downtrend in USD, but I have TP's in place.

Such wild swings. Is this what's normal?

As recently as last Friday, my account was up 6%. Then down 20%, now up 3%

This movement is considered relatively tiny compare with
say crude oil, copper, some index futures movement

 

[Sweet Bobby]

if you are asking such questions what the hell are you doing trading a live account.

you have the opportunity of trading a demo account to learn about such things.

something i never had when i entered the markets in 1987.

Padu is correct. He's been trading paper accounts for 13 years and still is not prepared to trade live money!

 

[Laissez Faire]

Is this what trading is like?

Yes - for most or many. But not how it should be like.

 

[farmerjohn1324]

Is this what trading is like?

Yes - for most or many. But not how it should be like.

What should be different?

 

[Onra]

You're fine if you're daytrading,
but you are swing trading, because you hold over the weekend.
Hence you'll need a big SL and therefore a small position.