• My Emotions and Ego destroyed my Forex account

Posted: **Sun Sep 26, 2021 6:14 am**

Hi Friends..'m new here. This happened to me on Friday. Little bit recap about my Forex trading. I opened the account with 700 dollars 3 months ago and I made 1200 dollars. I sell GBPJPY one lot on Thursday. I was down 200 dollars in less than 5 minutes. And then 300 to 700 dollars down by Friday morning. But I didn't sell. By Friday afternoon when I checked MT4 on my phone again. My position auto sold with 1700 dollars in loss. Lesson here is Never bring emotions and Ego in Trading. I will try again on Monday. I just wanna tell someone to get it off of my chest. It's bothering me too much. Not the money but the feeling that why I didn't close the position when I was just 200 dollars down. Thank-you guys.

Posted: **Sun Sep 26, 2021 10:24 am**

imclosetogiveup wrote: Sun Sep 26, 2021 6:14 am Hi Friends..'m new here. This happened to me on Friday. Little bit recap about my Forex trading. I opened the account with 700 dollars 3 months ago and I made 1200 dollars. I sell GBPJPY one lot on Thursday. I was down 200 dollars in less than 5 minutes. And then 300 to 700 dollars down by Friday morning. But I didn't sell. By Friday afternoon when I checked MT4 on my phone again. My position auto sold with 1700 dollars in loss. Lesson here is Never bring emotions and Ego in Trading. I will try again on Monday. I just wanna tell someone to get it off of my chest. It's bothering me too much. Not the money but the feeling that why I didn't close the position when I was just 200 dollars down. Thank-you guys.

There are two important things called management and stop loss, put atention in there. Good luck

Posted: **Sun Sep 26, 2021 11:10 am**

imclosetogiveup wrote: Sun Sep 26, 2021 6:14 am Hi Friends..'m new here. This happened to me on Friday. Little bit recap about my Forex trading. I opened the account with 700 dollars 3 months ago and I made 1200 dollars. I sell GBPJPY one lot on Thursday. I was down 200 dollars in less than 5 minutes. And then 300 to 700 dollars down by Friday morning. But I didn't sell. By Friday afternoon when I checked MT4 on my phone again. My position auto sold with 1700 dollars in loss. Lesson here is Never bring emotions and Ego in Trading. I will try again on Monday. I just wanna tell someone to get it off of my chest. It's bothering me too much. Not the money but the feeling that why I didn't close the position when I was just 200 dollars down. Thank-you guys.

It's ok because I think most of the successful trader before they success in trading most of them had this kind of happened before. My past lesson is with 40K live account and similar with your situation. This is because of emotions,chasing trade, no proper SL + didn't have a good trading system. A good trading system will let you know when you should exit your trade before your SL hit. Keep moving forward , this lesson will definitely help your trading career !

Posted: **Tue Sep 28, 2021 8:54 pm**

imclosetogiveup wrote: Sun Sep 26, 2021 6:14 am Hi Friends..'m new here.

sorry about this experience but as much as it hurts............... that is what every trader will go through

think of it as your study fee for learning how the market works (just like your university fees etc) same shit................ have to pay to play and you are now a better person

jump back on demo for 3 months and test test test then start a new account with $500 deposit & trade small this time and NOT ON YOUR PHONE

Trader's should not use mobile MT4 for Technical Analysis

Posted: **Fri Nov 05, 2021 1:21 pm**

Sorry to hear about the bad luck. Perhaps you could try a trading journal to help you keep track of your losses and to look for points of improvement?

Posted: **Fri Nov 19, 2021 7:00 pm**

Sorry to hear of your loss. I think you need to look into your risk management. I would advice to always use a stop loss, never risk more than 3% of your account on any one trade and if your trade moves into profit adjust your SL so you retain some of the profit. Good luck

Posted: **Mon Jan 31, 2022 11:23 pm**

Most of the traders lose in forex because of their unrealistic expectations, I think in order to get profitable you must keep your greed and emotions in control.

Posted: **Tue Feb 01, 2022 2:13 am**

automate every thing that you have an issue with
I use ATR stops to trail and set stop losses
I use a lot size calculator to size those positions.
once in I use an EA to automatically trail those positions in profit
i think every retail trader has these issues, good luck bro

Posted: **Tue Feb 01, 2022 2:33 pm**

Easily done! Think like a computer.

Posted: **Mon Feb 14, 2022 10:10 pm**

I think many traders can realte, but learn the lessons and dont repeat the mistakes.

My Emotions and Ego destroyed my Forex account

My Emotions and Ego destroyed my Forex account

Re: My Emotions and Ego destroyed my Forex account

Re: My Emotions and Ego destroyed my Forex account

Re: My Emotions and Ego destroyed my Forex account

Re: My Emotions and Ego destroyed my Forex account

Re: My Emotions and Ego destroyed my Forex account

Re: My Emotions and Ego destroyed my Forex account

Re: My Emotions and Ego destroyed my Forex account

Re: My Emotions and Ego destroyed my Forex account

Re: My Emotions and Ego destroyed my Forex account