Oh man!! That’s scary! That’s enough to convince anyone to change.
It sounds like you turned the accident into a big learning lesson.
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Yes, you are right. These things are very important. It is not possible to achieve trading success without following them.
When we will be doing our trading with a Long Term outlook then we can certainly become more successful in the business of Forex Trading.
Right on the money. Walk a mile in my shoes!
That is so well put up, mate. Truly, it takes a lot of experiences to be at the pinnacle of any business and specially trading. I am going to keep all these things in my mind for better perpective of trading.
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One thing which took time in my case was to understand that putting only that much money which i could afford to lose.
Thank you for sharing these gems. Thanks to the forefathers of the internet, we sometimes take getting wisdom from the gurus for granted. Thanks.
Hey John. Thanks for sharing your story and your insight into trading. Well, I can completely relate to you coz of years of experience and still figuring out my way around it. There are days when I make heaps of money and there are few where I make some really bad choices. Call it my addiction or not, I can’t back off and still feel happy about trading each day.
Thanks for the kind words, and it’s great your still enthused by a game that can spend so much time kicking you in the teeth.
I don’t think there was ever a time I felt like giving up.
I really surprised myself just how much torture I could put myself though - lol
I too have an addictive personality, interestingly enough when I found other rabbit holes to go down outside of trading, many of my bad trading habits disappeared,
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One thing which took time to take place in me was patience. I have understood that the anxiety while trading will only give you loss. If we will wait and research about the market properly, then it will definitely help us in gaining profits.
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Keep that dedication on, because that is what will take you long in this journey, Quiting is no option ofr traders who wish to become successful, give it your best shot, analyse the bad choices that you make, learn from them and give a better shot the next day.
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My life right now. I think I’ll share this post with my husband. 
Thank you for also not assuming that I am a dude.
And thank you for the light at the end of the tunnel perspective.
That sounds just like me.
Thanks for sharing.
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Interesting personal overview that gives insight on your real experience, so thanks for that. As a beginner I truly appreciate these kinds of posts as they are an eye opener. I know there are various intricacies in trading that you need to get used to and it generally takes plenty of time to get a good grasp of them. Also, patience is soemthing that you need to get used to and for some people it does not come that easy.
Glad to be of assistance @maby1
Actually, I am surprised just have popular this post has proved to be. It certainly has helped me bump up my like ratings!!!
I also have a blog (don’t worry I am NOT plugging a trading course, or ALGO function) - you can read more of my mishaps of which there are many.
My overall take on trading is that it need not be complex, but most beginners cannot quite grasp that.
Sometimes it takes years of pain just to realise how simple it all really can be.
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It’s difficult to understand that you can have more success by trading less.
I’m slowly learning that lesson.
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Only difficult to grasp because we are indoctrinated to think the harder you work the more you make.
Call it the protestant work ethic…or something else. And in every other domain of existence it’s true - but trading isn’t like the rest of life.
As I’ve said before trading is more like fishing or farming. Shot gun approaches to the market rarely works for long - that’s when trading psychology is at it’s most vulnerable.
A sniper approach to trading is much better both in terms of results and peace of mind
A quantum leap comes in trading results when you give up the notion of pulling money out of the market every day.
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Jesse Livermore used to say there were two types of sucker.
The plain sucker who does the wrong thing all the time.
And the Wall Street sucker who believes he or she can make money every day.
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Very true. The trick is developing the thorough familiarity with your strategy and its corresponding entry signals.
But you have to backtest a lot, then live trade and take losses until you learn to recognize the trades approaching over the horizon.
That’s the hard part: taking the losses until you learn the correct signals based on your strategy. But, I think that once you learn this, steady profits begin.
For me psychology is the most difficult thing that I ever tried to learn, mainly it of course depends on the type of the trade, of his personal world perception, emotional stability and stuff like that. But, I’m sure for a very calm person, it is really hard to master trading psychology, you know, to throw away all the thoughts which come into mind while you open a position and after that. It’s terrible. However, we all are here to learn something to learn how keep patience while trading and so on so forth, hence we don’t need to b afraid of anything we see in front of us. Only by these steps it’s possible to overpass these obstacles.