Hello to anyone who might read my thread.
I am writing this trading journal not for anyone else's benefits,
but for mine.
So if you are happen to read my sad story, plz do leave some cheerful comments...haha that will be appreciated.
I began trading stocks when I turned 18yrs old.
Since I am a Korean, who studies in the States,
I have a great knowledge in Korean market.
And that's where I began my trading experience.
After having somewhat successful trading experience in Korean stock markets,
I decided to try something new.
Which happened to be FX trading.
I began FX trading about a month ago,
with initial account deposit of $250.
After 3 weeks, I had made great returns in my trades,
so my account balance was as large as $2220 (profits were $920 and I decided to put extra $1000 into my account)
With this quick profits,
I became maybe too excited.
I started ignoring any comments from FX analysts and started to analyze Eur/USD pair.
I made a huge mistake just this week.
After going through a horrible mistake, shorting this pair, I ended up losing most of my account balance.
Now I have little over $500 in my account.
Although I am very disappointed at my loss,
I am not ready to leave FX trading.
I am going to stick around and become profitable again.
There will be few rules that I will follow.
For now:
1. Write daily journals: what i have done correctly and made mistakes on.
2. Withdraw weekly profits from my account.
3. Do not hold one position for a long time if the overall trend is going agains my position.
I will be adding more rules to my initial 3 rules up there as I continue writing my journal.
Everyone makes mistakes, but those who learn from their mistakes become successful traders.
I am writing this trading journal not for anyone else's benefits,
but for mine.
So if you are happen to read my sad story, plz do leave some cheerful comments...haha that will be appreciated.
I began trading stocks when I turned 18yrs old.
Since I am a Korean, who studies in the States,
I have a great knowledge in Korean market.
And that's where I began my trading experience.
After having somewhat successful trading experience in Korean stock markets,
I decided to try something new.
Which happened to be FX trading.
I began FX trading about a month ago,
with initial account deposit of $250.
After 3 weeks, I had made great returns in my trades,
so my account balance was as large as $2220 (profits were $920 and I decided to put extra $1000 into my account)
With this quick profits,
I became maybe too excited.
I started ignoring any comments from FX analysts and started to analyze Eur/USD pair.
I made a huge mistake just this week.
After going through a horrible mistake, shorting this pair, I ended up losing most of my account balance.
Now I have little over $500 in my account.
Although I am very disappointed at my loss,
I am not ready to leave FX trading.
I am going to stick around and become profitable again.
There will be few rules that I will follow.
For now:
1. Write daily journals: what i have done correctly and made mistakes on.
2. Withdraw weekly profits from my account.
3. Do not hold one position for a long time if the overall trend is going agains my position.
I will be adding more rules to my initial 3 rules up there as I continue writing my journal.
Everyone makes mistakes, but those who learn from their mistakes become successful traders.