The experienced but still not necessarily profitable traders amongst us will remember the times when we did the most stupid of things, revenge trading etc, ending up in shear desperation. I’m hoping that this will help new traders work through their issues and know that there are others that are or have been in the same place.
For me there are too many to care to remember, but I’ll make a start…
A day in the life of a desperate trader.
It’s a while back the details may be a little cloudy and my little story made a little more colourful to make it interesting. 
I think I’d been profitable for a few weeks, maybe 3 or 4, I had ended the day in profit every day, I thought I had it, master trader I was, one of the best, throw your ridiculous single figure returns away I’m planning on making 3 digit figure percentages, I will make a million in a year, I will buy a Porsche first, it will be handy to travel around the country looking for a few nice properties that I can stay in when I feel like it, all with helicopter pads of course, I mean who wants to spend hours and hours on the motorway???
I think I have a thousand pound in my account, with 100% return a month, maybe 50% on bad month, I’m going to turn it into some massive amount of cash, dream dream dream away.
So this day by lunchtime I’m down about 20% maybe, no problem, I’m a great trader, nearly a month of trading and not single losing day, just stick to what I was doing, whatever it was that I was doing, the truth is I realise by know is that I didn’t really have a clue, I was probably trading in a nice trendy market, which can happen, but real traders know when to stop.
So NY open, I’m ready for it, BANG, lose another 20 PIPS, then another, then everything, trying to grab 5 pips, winning, then try for some more then 10 PIPS, then 50 pips, the market dies, it’s 6PM, there is no way I can make back my 50% loss, I’m quite devastated, I have some tea, then I update my computer which promptly destroys the operating system, it’s going to be a whole day before I re-install and get back to trading. It doesn’t go right, I’ve had some wine by now, I end up on my knees on the floor banging my head against it, I go to bed and wake up with a broken head, both inside and out!
Please share your experiences.