I lost 40K (blew my account) in 2007, due to poor MM which seemed to get worse and worse after each loss. I am now trading demo accounts until I can become profitable and getter a better handle on my emotions (usually the cause of why my trades blew up) All in all i was trading in the right direction, but because of poor money management i was over leveraged and rushing in and out of positions.
I have been trading FX for about 18 months. Now I am re-evaluating myself, my strategy, and frame of mind before I enter the market again.
I know I can be successful but I have to overcome the emotional side of being a trader, and aim for realistic long term returns as opposed to the get-rich-quick or even worse, make it all back mentality that put me in this hole.
I started this tread for positive advice and truthful discussions from successful and unsuccessful traders on their experiences handling losses so that others (and ourselves) can hopefully learn from our mistakes
I have been trading FX for about 18 months. Now I am re-evaluating myself, my strategy, and frame of mind before I enter the market again.
I know I can be successful but I have to overcome the emotional side of being a trader, and aim for realistic long term returns as opposed to the get-rich-quick or even worse, make it all back mentality that put me in this hole.
I started this tread for positive advice and truthful discussions from successful and unsuccessful traders on their experiences handling losses so that others (and ourselves) can hopefully learn from our mistakes