Burned again. Right now, I can feel my life force slowly fading away. Over the last five years, my account got wipe out over and over again. Some months, my result was superb. Most months my account just got wipe out. I have tried very hard over the last five years, but I have to admit that I have failed. Should I continue to trade? I ask myself. I don’t know. I really don’t want to give up. Perhaps, I shouldn’t have started in the first place.
Heck, I can’t give up now. Not after all the sleepless nights and effort that I have put in over the last five years. Then what must I do? I ponder… I need to find out what’s wrong. I need to get to the geist of what’s causing me to fail. I need to list down what I think is wrong or what went wrong.
- Utilising 100% margin, and got margin close out.
- Questionable countertrend strategy
- Inappropriate scaling in and out of position lot size.
- Inability to follow thru on initial planning.
After much contemplation, as of now, the above is what I can think of.
What should I do now then? I ask myself. The obvious answer is to go back to trading demo. Thus, I went on to create a demo account.
What next then? I will have to tabulate some statistic base on my current technical analysis skill level to date, correlate them to the economic calendar, read some fundamental news and plan my demo trade. I shall not go live trading until I have regain my confidence.
Someone kill me please! Just only a mere 3hours after I created my demo account. From $1000, i’m down to $834!!
CPI data is worse than expected and GBP crash!
I need to cool down… Perhaps, scalping shouldn’t be executed during high impact news release.