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Overconfident
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Back4Good

Membre depuis Dec 06, 2017  21 messages Back4Good Aug 12 2018 at 05:26
I became over confident after an awesome week trading. I then increased by Lot size to 1.0 Lot thinking I was going to be a millionaire soon but the markets thought better. I lost a lot. I ended up revenge trading and losing my whole account. Sad times but a useful lesson

hasanmumtaz

Membre depuis May 20, 2011  8 messages hasanmumtaz Aug 12 2018 at 12:42
Was that a demo or live?

nasrul_poyo

Membre depuis Sep 11, 2017  124 messages Nasrul (nasrul_poyo) Aug 13 2018 at 08:23
In Forex trading, u should put away your thought that your entry would be perfect and sharp entry.
Just think, if so many of us thinking like u, sure many unregulated brokers are close down now.
Too many having perfect entry yell

Szabolcs1985

Membre depuis Jul 26, 2018  9 messages Szabolcs1985 Aug 13 2018 at 10:24
I would settle for an imperfect entry as long as I got the direction right. Just knowing that I could make 50pips a week every week would be incredible for me

TeddyBrendon

Membre depuis Jul 27, 2018  7 messages TeddyBrendon Aug 13 2018 at 14:42
I find that I get direction right but the stop loss wrong. So if a go Long with a stop loss of 20 pips the price will fall 25 pips and then reverse and head upwards :(

togr

Membre depuis Feb 22, 2011  4838 messages vontogr (togr) Aug 14 2018 at 10:17
It is easy to become overconfident when you are lucky and make a huge pile of money
But is is even easier to lose it that way.

GreenTrades

Membre depuis Aug 16, 2018  11 messages GreenTrades Aug 16 2018 at 10:50
Back4Good posted:
I became over confident after an awesome week trading. I then increased by Lot size to 1.0 Lot thinking I was going to be a millionaire soon but the markets thought better. I lost a lot. I ended up revenge trading and losing my whole account. Sad times but a useful lesson


When you didn't find the solution, lesson is the one. And if you don't want to go wrong in the first place, catch the valuable advises as much as you can. :)

togr

Membre depuis Feb 22, 2011  4838 messages vontogr (togr) Aug 16 2018 at 11:00
Back4Good posted:
I became over confident after an awesome week trading. I then increased by Lot size to 1.0 Lot thinking I was going to be a millionaire soon but the markets thought better. I lost a lot. I ended up revenge trading and losing my whole account. Sad times but a useful lesson


You have to have good trading plan
You have to stick to it.
Was the trade size increase part of your trading plan, it was not, right?

hayqinsb

Membre depuis Sep 01, 2010  10 messages hayqinsb Aug 17 2018 at 00:52 (édité à Aug 17 2018 at 00:52 )
Back4Good posted:
I became over confident after an awesome week trading. I then increased by Lot size to 1.0 Lot thinking I was going to be a millionaire soon but the markets thought better. I lost a lot. I ended up revenge trading and losing my whole account. Sad times but a useful lesson
you are very much placed to be successful buddy. keep going and sure you have really learnt your lesson

hayqinsb

Membre depuis Sep 01, 2010  10 messages hayqinsb Aug 17 2018 at 00:54
Szabolcs1985 posted:
I would settle for an imperfect entry as long as I got the direction right. Just knowing that I could make 50pips a week every week would be incredible for me
perfect mindset.

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