We all have been there, trust me. Some say that 95% of all who try forex lose 100% of thier money. I believe that.
I have a therory about the stages each forex trader goes through. I would venture to say nearly everyone with any experience in forex would agree with me.
I call this 'The Seven Stages of Tradeing Forex'
You begin by being conservative.
You start out being very carefull with your trades, keeping lots small and stops tight.
Which leads to success.
Your plan is working, and your account is seeing gains.
Which leads to overconfidence.
The plan works every time. look at the gains you are making. You must be a genius. You have found the holy grail..
Which leads to Greed.
If you can make this much with one lot, then why not trade 2 lots, right?
Of course what follows is denial.
The market will come back, right, it always does, we should just double down.
And then comes panic.
No, No, No, not a margin call.........
And then my favorite, dispair.
Its all gone, every last bit.
Some times this path is repeated with a few revenge trades thrown in. Sometimes the hit is big, sometimes it is small. But everyone takes a hit. The thing to do is learn from it and try not to go down the same path.
Pick yourself up and learn from it. You can do it.