Open trading account 
Today's story is about trading growing pains
As a trader one must be always wary of pitfalls
I have trading been for six years now, and have grown a lot in that time,
but this week I have experienced some severe growing pains
I have tried to be a disciplined trader, but there is always the danger of blowing up
Last week was just such an example:
I was sure that the combination of a possible rate hike in US,
and a no-vote for Brexit meant that GbpJpy would be a winner
I did the technical analysis, and then I made a fatal mistake:
I risked everything on one idea - going long GbpJpy with all I had
Everything went wrong - the US rate hike for June was crushed, and NFP was a disaster too
Brexit fears returned after a poll showed the no-side to lead
The combination brought GbpJpy down,
and I would not listen, I ignored the new technical analysis - I was already long,
and would not let go of my trade - stubbornly I held on to my belief - hoping for the market to turn around
I wiped out my entire live account after months of trying hard to build it up,
I blew up my Dukat account, and lost most of my equity in the trader contest
All on one single trade - GbpJpy long - which I would not let go ..
I knew days like this would still come - although I hoped they were over
The only way to overcome such things is to learn from them and start over .. again and again
The road to success is a long and lonely one, sometimes
You must overcome your own weaknesses and learn to improve yourself
I know there is light at the end of the tunnel, though
It is different for all of us - some learn quickly, for others it may take decades - but we can all become profitable
All we need to do is stick to it, and if we love trading - we will
gl all
As a trader one must be always wary of pitfalls
I have trading been for six years now, and have grown a lot in that time,
but this week I have experienced some severe growing pains
I have tried to be a disciplined trader, but there is always the danger of blowing up
Last week was just such an example:
I was sure that the combination of a possible rate hike in US,
and a no-vote for Brexit meant that GbpJpy would be a winner
I did the technical analysis, and then I made a fatal mistake:
I risked everything on one idea - going long GbpJpy with all I had
Everything went wrong - the US rate hike for June was crushed, and NFP was a disaster too
Brexit fears returned after a poll showed the no-side to lead
The combination brought GbpJpy down,
and I would not listen, I ignored the new technical analysis - I was already long,
and would not let go of my trade - stubbornly I held on to my belief - hoping for the market to turn around
I wiped out my entire live account after months of trying hard to build it up,
I blew up my Dukat account, and lost most of my equity in the trader contest
All on one single trade - GbpJpy long - which I would not let go ..
I knew days like this would still come - although I hoped they were over
The only way to overcome such things is to learn from them and start over .. again and again
The road to success is a long and lonely one, sometimes
You must overcome your own weaknesses and learn to improve yourself
I know there is light at the end of the tunnel, though
It is different for all of us - some learn quickly, for others it may take decades - but we can all become profitable
All we need to do is stick to it, and if we love trading - we will
gl all
