What should I do ?
Ok, I had a
very smart idea. As I said last week, I only plan to open orders on micro Lots.
You will know a micro Lot worth 1000 units. And a mini-lot 10000 units.
It was out of
question for me to open any mini-Lot order. However I felt I could increase
Profits by placing, still micro Lots, but slightly leveraged.
My idea was
to spot a trend and place a 0.01 micro Lot, then a bit later a 0.03 and a last
one at 0.05. This way once I would happily surf the wave, I could still make
money even I do not reach the small 0.01.
Well. What
works a way, works the other. I mean Losses. It is the Forex Hospital road I am
taking right now and no more teeth in the mouth. All planted into the FxSurf.
What I did
not realize is: how many pips today’s drop in JPY pairs could generate with my
brilliant micro-Leveraged plan on… BUY !?
And because
it would not be fun without the cherry on the cake: I left for work this
morning without taking the time placing Stop-Losses.
All the
ingredients for a mega Forex-Bomb were combined. Just needed the detonator from
the market.
You wonder
what happened when I came back home ? Indeed. Well I did not predict my
micro-Leverages would pile up and totalise a £150 Loss. You read well, there is
no comma after the “1” or the “5” …
So why am I
asking what to do? I confess the orders are still opened. I think it is right
now the time I truly feel losing away my money. The little voice on a shoulder
tells me to close everything, recapitalize the account and try again. On the
other shoulder, another voice tells me to leave it open and wait it goes a bit
up to reduce the Loss.
I am still
thinking.
Oh dear.
My survival
rating will most likely drop. Indeed.
Mr Glick
Forex Surfer
in trouble - Apprentice
Glick, I understand ur situation. Loosing 150 in one day can be a nightmare. I m also a beginner and can't suggest u much on recovering what u lost but would suggest to do a bit of analysis before entering in any trade AND NEVER LEAVE A TRADE WITHOUT STOPS. Secondly, to find someone who u can rely on and take his ideas. Not to just copy his trades as it is but join him as apprentice. Also to read lot about Technical Analysis. I m myself doing that since last 2 weeks and could make 50%+ on my account. If u wish let us share ideas. U can join me on FB : Pramod Joshi (ritikemail@gmail.com).
ReplyDeleteThank you Ritik. I will write down all my ideas on this blog and I would value your insights and share ideas.
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