Quote:
Originally Posted by bbruno
Todd, this is very bad situation for every trader and every excellent trader has this experience. Do not put away your 9K account which is now available, do not forget that you can turn every small account(5-10K) into million after some time. I think the best what you can do now is DO NOT TRADE minimal two weeks and do not try to get your money back. I do not know how your financial situation is but for me 10K is lot of money and I know lot of people which starts with 300 - 2K accounts are very happy with small gains and try to learn consistency, persistence and discipline which is most important. It is not about one week trading, even one month. We deal with best business in the world if handled professionally. Take care and best luck
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Thank you...this was a very good post, I appreciate it. My $9k however is not in the clear. This is what I was implying when I said I would carefully trade it. There is still a $6k draw down, so my point is that I want to get it clear of that draw down. I want to salvage it, not really "get my money back" but to get some of that true balance back. Otherwise I AM just letting it go, which I don't want to do. Once this week has passed and the GJ has done what it will do then I will sit back and regroup.
I have been trading demo for two years now. I do feel that I have learned something...I've shared on this forum a zillion times how successful my trading has been.
However, I know live trading is different. I was afraid that difference would be a fear of going out on a limb. For me it has been the opposite. I never really thought of my live account as being "real" and dove in with a new strategy right off the bat (I did demo it for a while, but that isn't the point, I should have been much more conservative.) Now I have learned the hard way...although I think if I had been trading this GBP strategy for the past year on a demo I would still have had this experience. Me blowing the account had nothing to do with my skill as a trader...rrram2's account got blown too, and he is the expert.
Anyway...what you say here is very valuable. I intend to do things very carefully and according to my plan. And have patience. Thanks again for your comments...
Todd