Hindsite is 20/20. And I have alot of it and learn alot from it.
I am still certain this system will work as a long term equity building system.
It certainly been more exciting that rental properties. I lost some $ on a short too as I canceled it at a loss. I always detest learning at such a great expense. IF I traded this on micro lots and was making less it would still be as exciting I guess but the upside as well as the downside would be limited.I reareneded someone yesterday, good thing it wasn't the day before or I would have kicked his ass. He was acting all crazy and wanted to kick my ass. It was an accident I said and after 5 or 6 times of him jumping in my face and almost hitting me it was all I could do to remain calm and not knock him out. I don't feel bad. But I am sure not as excited about all the additional work I have to do to make up for some of my losses. The sad fact is that some of my losses were funded with acouple credit cards and I still owe the bills! I too will never give up. And I know it is a huge bank that ran us down. And I asked for it and mismanaged my funds and overextended my margin and got ****y and arrogant even and to deft me instead of price going where I expect she went 100% opposite which was very disheartening.
I got a good night sleep last night. And tomrrow I will see if I have any credit cards with any available credit and any accounts I can deposit money in. BEcause I might have $600 in my other account (laugh).
So hold on to your position and fortify it and collect the inerest and don't buy any unless you are hugely conservative and at the bottom.
I very much would like to buy some more long at 200.00 and TRY to hold them LT and maybe sell them in 3 months when price is back around 220.00.
I have been getting so busy with service calls and am hiring an apprentice to take some over. I have 2 weeks of paperwork to do. But I will be watching GJ come 3PM tomorrow.
Quote:
Originally Posted by pipsquito
One draw back to trading demo for so long you get used to taking chances knowing it doesn't really matter. When I opened my real account it all looked exactly the same...I like taking risk, so I dove right in. I have only blown one account before, buying down on the GU which moved 300 pips in one evening (another rare occurrence). But that was a demo account. When this strategy opened up I went for it, like I was trading on a demo account. I do believe in taking risk to be rewarded high gain. But not risk like this. It was an immature thing to do and I cop to that completely. But I have done well all my life doing crazy things, so it is part of my personality!  I don't think it will ALWAYS bite you to be risky. Sometimes you eat the bear, sometimes the bear eats you. I got eaten.
Yes, I will not give up. Sometimes I think of that as a disadvantage. I never give up...ever...and often times I wish I would. I will find a way to get more money in my account and go at it again. And I will succeed at this, no question in my mind about it...but it still hurts...and right now I am not feeling so great about this loss.
Thanks for your post, mytwopips, at least after reading that I feel like my $50,000 wasn't so great. In the big scheme of things I guess it isn't. I do have more...and I have lost that much in the stock market easily over the past year (much more actually.) Cost of doing business I guess. I suppose what bugs me the most is feeling that I was irresponsible placing dozens of no SL buy trades as a pair is going down. Using my previous method of trading, which did well, I would never have been at that sort of risk exposure.
Anyway...this has been interesting and fun as well! The cool thing about the forex is that you can make $50,000 ALMOST as easy as you can lose it!!  At least there is the potential for that!! I'll be back!
See ya...
Todd |