Guys... This is the first time that I'll be honest with my secret shame. After reading all your posts, I realized that I need not be embarassed about what happened to my account.
I started trading last year. I started with an $8K standard account. I had no idea about trading. Therefore, I asked a friend who works at this forex brokerage to trade for me. As it turned out, he is also just new to the business and even lost his $4k mini account a few months before we got acquainted. He traded for me and he almost blew up everything. I always fell below margin levels. He just floated every position. In short, I invested a total of $20K already due to almost weekly margin calls and infusions just to support my position. See, I really know nothing before. While it happened, I did some self-learning, researches and demo practices. Finally, last month I had decided to cut my locked/hedged losses in the sterling, start anew and trade myself. Since then, I have learned a lot about proper risk management, entry/exit points, discipline, technicals and fundamentals. Sadly, I have no more positions and I only have $4k in capital. The rest was just gone, literally.
What can I possibly do? Any suggestions? I feel like I have the biggest problem in the world. Is it possible for me to recover this slowly but surely, with my remaining equity?
What would you do if you were in my shoes? I hope somebody reads and responds to this. I'd be forever grateful for any suggestion you can give me.
Thanks guys in advance...
I started trading last year. I started with an $8K standard account. I had no idea about trading. Therefore, I asked a friend who works at this forex brokerage to trade for me. As it turned out, he is also just new to the business and even lost his $4k mini account a few months before we got acquainted. He traded for me and he almost blew up everything. I always fell below margin levels. He just floated every position. In short, I invested a total of $20K already due to almost weekly margin calls and infusions just to support my position. See, I really know nothing before. While it happened, I did some self-learning, researches and demo practices. Finally, last month I had decided to cut my locked/hedged losses in the sterling, start anew and trade myself. Since then, I have learned a lot about proper risk management, entry/exit points, discipline, technicals and fundamentals. Sadly, I have no more positions and I only have $4k in capital. The rest was just gone, literally.
What can I possibly do? Any suggestions? I feel like I have the biggest problem in the world. Is it possible for me to recover this slowly but surely, with my remaining equity?
What would you do if you were in my shoes? I hope somebody reads and responds to this. I'd be forever grateful for any suggestion you can give me.
Thanks guys in advance...