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What's your greatest loss in trading

  • #41
  • Jul 26, 2013 3:11am Jul 26, 2013 3:11am
Quoting billytt
if we have a valid reason for the loss that helps for the future, it is all experience but if a loss is through gambling or being stupid that is wrong
But the problem is that most of people think they are smart and can't accept the fact that they need improve their strategy, learn more, read..
  • #42
  • Jul 26, 2013 3:22am Jul 26, 2013 3:22am
I do always lose my hope when the market goes reverse with my trades. But my greatest loss is $300 a day and it burned my account
  • #43
  • Jul 26, 2013 3:33am Jul 26, 2013 3:33am
Quoting mumuy
As for me, I made my biggest loss in Forex trading when i just started trading Forex. Funny enough, i made my biggest loss immediately after making my biggest profit. It was due to my attempt to take advantage of an immediate reversal of trend. This eventually turned out to be a trend continuation that was even far more powerful than the previous one and because i didn't cut my losses, it made a record breaking loss. what is your biggest lose, and what was the cause?
My biggest loss...in dollar terms was $6k

The cause was being too cocky and entering a trade on UJ (the wrong way) as news of the earthquake and tsunami broke, not setting the SL before I answered the phone. Yapping for about 30 minutes on the phone, making a cup of coffee and watch the TV news....and OMG...my trade.....shit....no SL!

Lessons learned was to have a SL automatically set when I enter a trade, and turn the phone off during trading time!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #44
  • Jul 26, 2013 3:50am Jul 26, 2013 3:50am
Quoting DitterPD
{quote} But the problem is that most of people think they are smart and can't accept the fact that they need improve their strategy, learn more, read..
I agree, a smart trader can see where he made a mistake or try and figure out why, such as enter a trade just before a news release without realising it and it goes bad. enter on a fridy night just before market closes , anyway good reply , be good
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #45
  • Jul 26, 2013 4:01am Jul 26, 2013 4:01am
EXACTLY!


Quoting gspajon
My biggest loss in trading has been wasting the last ten years looking for a "system" that was perfect (for me). Such a system or method does not exist. I have lost ten years of potentially profitable trading because I didn't realize that being profitable in trading has NOTHING to do with the markets. Its all about me and the decisions I make.
Some pursue happiness, others create it.
  • #46
  • Jul 26, 2013 5:21am Jul 26, 2013 5:21am
Of all the things i lost the thing i missed the most was my mind.
  • #47
  • Jul 26, 2013 5:39am Jul 26, 2013 5:39am
Quoting Stephen Thom
Of all the things i lost the thing i missed the most was my mind.
lol. You can get good professional help with that paid out of the profits you made in forex.
Nothing worth having is easy.
  • #48
  • Jul 26, 2013 6:36am Jul 26, 2013 6:36am
Quoting Patience
{quote} lol. You can get good professional help with that paid out of the profits you made in forex.
Yes indeed. Good luck with your trading.
  • #49
  • Jul 26, 2013 6:52am Jul 26, 2013 6:52am
Quoting Stephen Thom
Of all the things i lost the thing i missed the most was my mind.
Sorry, couldn't help myself but post it:

http://www.youtube.com/watch?v=RCD14IrOcIs
  • #50
  • Jul 26, 2013 7:05am Jul 26, 2013 7:05am
Quoting DitterPD
{quote} Sorry, couldn't help myself but post it: http://www.youtube.com/watch?v=RCD14IrOcIs
That's it exactly. I had forgotten that track from the film.
  • #51
  • Jul 26, 2013 7:19am Jul 26, 2013 7:19am
I regret I discovered FX very late (at 28).I wish I had discovered it while at college,by now I would have been way ahead of where I'm at.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #52
  • Jul 26, 2013 8:04am Jul 26, 2013 8:04am
When I changed spread bet providers and placed £10 per pip on Gold. It moved 5$ the wrong way in minutes. Previously a pip was per dollar now it was 10 cents!!
  • #53
  • Jul 26, 2013 9:24am Jul 26, 2013 9:24am
Quoting Stephen Thom
{quote} Yes indeed. Good luck with your trading.
You too. Can never have enough luck.
Nothing worth having is easy.
  • #54
  • Jul 26, 2013 9:50am Jul 26, 2013 9:50am
Quoting pemully
I regret I discovered FX very late (at 28).I wish I had discovered it while at college,by now I would have been way ahead of where I'm at.
You shouldn't regret it. You are where your are now and it's all good. Plus, I think it's harder for younger people to learn trading by themselves, like most of us over here did.

Younger people find it harder to learn patience. Younger people find it harder being introspective with their trading while learning. That was my experience. All is good. Have a nice weekend away from trading.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #55
  • Jul 26, 2013 9:53am Jul 26, 2013 9:53am
Younger guys have no patience which is the most important trait , maybe some would have but I know I wasn't one of them. -
  • #56
  • Jul 26, 2013 12:09pm Jul 26, 2013 12:09pm
I was always very controlled even as a teen. I remember being extremely bored at college and my first years at work.I wish I could have put those years to use instead of staring at the ceiling.I am now 30 and for the first time I'm seeing a brighter future ahead ....hope its not a mirage.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #57
  • Jul 26, 2013 1:30pm Jul 26, 2013 1:30pm
Quoting Patience
{quote} You too. Can never have enough luck.
Yes i agree. No matter how much we know or don't know, in this business like in many things in life an element of good luck is required. Best wishes.
  • #58
  • Jul 26, 2013 1:40pm Jul 26, 2013 1:40pm
Quoting pemully
I regret I discovered FX very late (at 28).I wish I had discovered it while at college,by now I would have been way ahead of where I'm at.
You are very lucky to have discovered this business at such a young age and from what you say i am sure you have a bright future. The irony for me is that i too wanted to do this when i was your age but other than working for a bank or suchlike there was no possibilty to participate as a retail trader because, at the risk of sounding like a dinosaur, the internet was then in it's infancy (i am in my mid 50's now). I wish you the absolute best of luck in your endevours. If anyone here wants to share trade ideas or potential setups on this thread i will be happy to share mine on a live basis with entries based on logic, Japanese Candle formations, chart patterns and potential breakouts. I am happy to give my suggestions re entries, SL and TP, whether or not you choose to use them is up to you. Have a great weekend everyone.
  • #59
  • Jul 27, 2013 8:13am Jul 27, 2013 8:13am
I never had big loss.. From the beginning I learned to manage risk and money. Though I learned it after many losses and gains but never had BIG loss. I follow strict stop loss in percentage or a fix amount per trade according trading method I apply on currency pairs.
  • #60
  • Jul 29, 2013 3:34am Jul 29, 2013 3:34am
Quoting soso
{quote} You shouldn't regret it. You are where your are now and it's all good. Plus, I think it's harder for younger people to learn trading by themselves, like most of us over here did. Younger people find it harder to learn patience. Younger people find it harder being introspective with their trading while learning. That was my experience. All is good. Have a nice weekend away from trading.
Agree. Younger people tend to take it for granted and don't expect to run out of luck, profitable streak or whatever positive is happening in their life. Now I'm not against positive attitude or optimistic nature, but what older people have is patience, more realistic view on the world, vision a little bit further than this weekend and experience.

So yes, don't regret anything and let it go, you have more character now and it may help to build more capital than if you were younger.
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