Dislikedit's a lot of money for me , and i know that i did the most stupid thing ever in trading but right now i'm stuck here , i think now it's better to wait , thank you for the advices from now on u should be sure that that is the way i am going to tradeIgnored
But there are some universal things in Forex.
1 - Never be in trade with money that you cannot loose.
2 - Forex is not gambling. For that there is Vegas, Poker, Casinos... Forex is investment with possible high return. Look for 5% a month, not doubling your account (IBFX has a monthly competition. Ther offer 3500$ to the most profitable trader with mini accont. Why? They know that the traderes will take lots of risk to win and they will blow up the accont. In the monthly statment just near 10% are profitable. Al the other loosed money and the majority blewed the accont. Good money for the broker!).
3 - Forex is not easy money.
4 - Greed and fear are emotions that should be erradicated of traders. But, if one of those must be in, so that be fear.
5 - With a win trade don't be euforic; with a loss trade, don't be panic. Accept you losses as you accept your wins.
6 - Before a trade, please think in a plan. If necessary write it. Answer these questions: a) At what level i will be in and why? b) What do i want for this trade? is a long term trade? is a day trade? is a scalp? c) According the answer define your profit target and your STOP LOSS. d) Go to your life.
7 - Never go into a trade because someone in FF say "short at 1,4444, TP 1,333, SL 1,555. That is their plan, not yours. They have a strategy to handle the trade that you do not know. If you cannot do it, please, don't trade (usless you feel excited by loosing money).
Now my advise. Close your order as soon as possible. Don't tell your wife about that. Stop trading for a week. Get drunk. Relax. Begin to read things about forex chart: support and resistancies, trend, money management. Find pattern in the charts. Stop thinking in buy or sell and start to think in buyers and sellers. Who are they? Understand the importance of volume. Demotrade as time as necessary until you feel confidant that you have find a profitable strategy (not the grail). Create a plan. Follow and respect it everitime.
This is easy to say. I think the majority of us have been in similar situations. Is not easy, but the good thing is that we can learn something with it.