I know I know… you’re probably wondering what this guy has to say today about forex lol, I honestly don’t know much. Just a regular guy trying to learn.
So like everyone else, I am a beginner who new about trading since couple of years ago and never really wanted to try it. Over time when it has dominated and had influenced lots of people to join the market, late last year I wanted to learn. Well with all the busy schedules and travels I’ve been on, Let’s just say I didn’t have the time to learn it.
Fast forward to like a few months ago, I decided I have to do this. I had a friend who’s almost like a pro who agreed to put me through and teach me the basics. We created a trading account and decided to give it a go. Lol my first trade got me a dollar. I was so excited thinking it was this easy. I was already calculating if I make a dollar each day, that’d be 30usd in a month lol well… over time I realize the time it requires you to put in when you trade.
The story I am about to tell you here is how I almost blew up my trading account lol. When an account is blown, it means that the account has ran out of funds for trading. So you may need to credit it again.
On a recent morning, waking up to place a trade, which I did happily. Markets are good to you when you trade early but this is what happened this day. We predicted the market and we buy. And guess what, lol… I opened multiple positions because we thought we were so sure of the market and where it’s leading to.
It didn’t turn out good. I was having a 55usd account which was drained down to 9usd and still draining. At this point I was losing my mind. Tension kept rising and I was pretty sure this might be the end of it. My friend kept trying to calm me down and giving me emotional support. But even while taking a bath I was still worried about that trade. Almost like every minute I’d go check and it will still be on minus and still not selling. Lol
More tension rose, I knew this is it. My friend had always told me that I haven’t started trading yet until I blew an account. And yes this is it. I am blowing it up, I became more frightened. Lol… I was actually trying to raise some funds to fix some financial issues, so you could imagine losing your last money all in a day. Yeah right that tension.
As the situation became more intense. I had to reach a stage when I conditioned my mind that it’s either I lose it all, or I gain profits. My friend cheered me up and said, it either we go big or go home. No I wasn’t ready to go home. Lol
At around 11am to 12pm, my friend text me
To check the market, because at that point I’ve already decided to just let it go, and guess what, I was already in profits yayy, I was now really calm and not faking it lol… traders will definitely understand this… I am still a beginner.
This is when the happy hour began. I started making profits and then he told me to close the market and leave 1 position open and before I could do that, it mentioned Invalid parameters… only to check and realize I’ve hit the Top profits gain. Yes I hit that lol… and my first big win in trading. 34usd profit. So I didn’t blew up my account.
We decided to take a rest for that week for the profits then resume the next week. I was so so happy. The following week… we decided to go big. We were so sure of the market and place buy. And then the market sold. We kept hoping it’d buy as predicted, but we are not always lucky. So this time I actually lost all the money. The whole account completely drained.
So this is my lesson. No matter how much you win, you have to stay balance. Don’t be too happy and don’t be too sad. Your emotions have to be balanced in whatever you are doing. I blew up my account the day I least expected I would. And it was because I was too happy with wins.
This is the tension that comes with trading. And if you’re not in the right state of mind don’t trade.
Please don’t forget to share your experiences on trade and other experiences that caught you unaware. #smile