That was my first FED trade - what a rollercoaster. Was on a short position and thanks to my margin I survived the initial rise. Managed to close position @ 1.10100 I need a breakand beer.
) I of course went with a demo for awhile. Did that for a couple months, and (I thought!) got pretty good at it. So then I went live and continued to do well, making the same moves I had on demo. But one thing I HADN'T tried on demo was a major news release, so my first attempt was live. Well, I waited till the initial spike began and tried to jump in.... too late! Within a few seconds it reversed and so STUPIDLY I then tried to go THAT direction. Which OF COURSE once again quickly reversed. To make matters worse, I had totally forgotten about how wide spreads can get during these moments, so I was paying NO attention to that. Long story short... I managed to almost destroy my (small) account in 3-minute's time. After it was over, I just sat there for half an hour staring at the chart and my horrible trades.... thinking to myself "What just happened?!" Major lesson learned.
