movit4000
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Last week i had a terrible experience. I went short on eur/usd(very unusual for me because i only trade GBP/USD) and made 80pips. Wow! i was so happy i added more lots unfortunately at the very point i later got to know that Sir pipsalot had advised to take profit. Well, guess what happened. The reversal was so massive i almost lost all my capital.
I have blown my account a few times in the past and it almost repeated itself last week except this time i had become a bit wiser.
Has anyone had this sort of experience before, I mean on a live account NOT DEMO pls? Lets talk about it. How did u feel? how did u get out of it? How come you are still trading and not discouraged? Please share you views with me. Thanks.
omo9ja.
Yes, sadly I have, too many times. I learned the hard way to ALWAYS put stop losses, there was a point were I lost close to $50k luckily I learned my lesson and NEVER EVER trade without a stop loss or risk anything more of 2% of my account. in one single trade. I have been trading happily for over 6 years now