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  #1  
Old 01-29-2009, 08:08 AM
kingstag kingstag is offline
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Default Warning !!dont trade emotionally

Well ive been geating steady profits the last 5 trading nights using FAPS
and yesterday decided to have a go manually
i got in on a spike yesterday and made 250 in 10 minutes
then last night thought i could do the same
i suddenly found myself breaking all the rules ignoring signals
thinking i was on a winner etc
lost 200 pounds
and at one point was 400 down on two 1.0 lot deals
had 5 trades going
i was hedging and all sorts
anyway i spent the whole night on a white knuckle ride
7 o clock this morning i was 50 up on yesterday morning but 200 down from last night
im gutted but its all my own fault wife wasnt to happy iether
oh well a good lesson learned the hard way
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  #2  
Old 01-29-2009, 08:30 AM
jefe jefe is offline
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Default

Quote:
Originally Posted by kingstag View Post
Well ive been geating steady profits the last 5 trading nights using FAPS
and yesterday decided to have a go manually
i got in on a spike yesterday and made 250 in 10 minutes
then last night thought i could do the same
i suddenly found myself breaking all the rules ignoring signals
thinking i was on a winner etc
lost 200 pounds
and at one point was 400 down on two 1.0 lot deals
had 5 trades going
i was hedging and all sorts
anyway i spent the whole night on a white knuckle ride
7 o clock this morning i was 50 up on yesterday morning but 200 down from last night
im gutted but its all my own fault wife wasnt to happy iether
oh well a good lesson learned the hard way
Sounds like you learned a lot more than that --- you learned to NEVER tell your spouse about any money made or lost while trading...LOL... They'll spend it faster then you can make it...
And if you have a couple of bad days they'll just nag you to death...
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  #3  
Old 01-29-2009, 09:36 AM
lloyd72 lloyd72 is offline
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first day i got my account ....waiting for first night's trade i hit the trade button...no stop loss ...no take profit... no max deviation ...78 whole trades later having been down $2200 at one point stopped about $100 down and happy....upside my 10% Alpari bonus was secured almost in two hours.....rules rules and more rules.
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snoopye1970 (01-29-2009)
  #4  
Old 01-29-2009, 10:03 AM
snoopye1970 snoopye1970 is offline
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Default

Quote:
Originally Posted by lloyd72 View Post
first day i got my account ....waiting for first night's trade i hit the trade button...no stop loss ...no take profit... no max deviation ...78 whole trades later having been down $2200 at one point stopped about $100 down and happy....upside my 10% Alpari bonus was secured almost in two hours.....rules rules and more rules.

Hello Lloyd,

the same happened to me too. But fortunately with a micro account and with some Dollars only.
I heard already, losses are normal. And the biggest problem while doing your new hobby or job "Forex" is - yourself! That's what I found out. Here you can see the biggest advantages of FAP, who is not moody...
I lost a couple of trades. But only those trades who were not made by FAP but by myself. I didn't get any loss by FAP up to now. But I am running it since January 8 only. So I didn't get any result which says anything to me.

This week I am not even at home. And it seems, we had little burn out, cut off on energy. As my confirming mail, send by my broker, doesn't show even one running position. So I guess, my pc is not running anymore. But tomorrow, I go home again. So hopefully, I didn't loose too much in my other live account, what I cannot control from abroad.

Because of that, I am thinking of getting smartbro-mobile or running my mt4s on a windows vps.

I feel sorry for your losses. I also saw the happiness already, to make unexpected much in one day. And then, you cannot stop - you continue, you made one or two wrong decision... And the big win has gone...
You must learn go get over it - and to continue. Same here too... I am still learning that as well.
So don't be discouraged, but encouraged! I think, this is also the sense of this forum. Let's encourage eachother Because I think, Forex has a enormous potential!

Wish you the best for your trading future,

snoopye1970
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