My Story How I Trade and Losses 1.7 K Dollars

Hi everybody, I've just come back from my friend home, and it was quite an exciting visit, during this visit we had determined that I had losses from my forex trading activities of 1.7 k dollars that included 16 margin calls or blown accounts. Now all of that is mainly due to the gambling nature that I've to have towards forex trading.

So during that year, I used 38 EA's and my manual trading systems that mainly were very concerned with those of the previous years. Now I don't want you to think that I'm a reckless gambler to the contrary. I calculate the odds of every single bet that I place before placing the bet. Every unique EA that I use goes through a very comprehensive testing process, evaluating the EA, finding suitable settings that give me the best margin of error between whatever margin ever, get the settings wrong with slow profitable and only when I have supreme confidence do I place the EA into my live trade.

EA from a collection of years that I trade, so I'm cautious about that. If the EA starts performing poorly, I take it out, retested and possibly put it back in or keep it on the rack for future use.

My manual systems are very comprehensive. I look at 24 to 36 charts before I make a trading decision. I evaluate all the odds. I often don't trade if I'm not a hundred percent comfortable. But when I am comfortable, I trade quite aggressively.

I do a lot of homework before I trade. The other thing that's very important is I do my best to learn from the market.

I analyze my successful trades and the ones that have failed after each week's trading activities.

Now I in spite of all that and all my years of experience and knowledge I still had losses of 1.7 k dollars. Now that should show you that losses are the cost of forex trading. You can't trade properly with the expectation that you never going to make a loss.

So the first characteristic that you've got to develop is that you have to be a good loser when you place a bit in the forex market.

You must be prepared to take the result on the chin. If it's a loss, take it on the chin. If it's a profit, fantastic your plans have worked out as you thought they would.

But you need to learn to be a loser. The next thing is you need to do your homework before placing a bet. You need to know the odds of every single deal. You need to know that the deal is the best deal in the whole forex market that you could possibly make and then you must make it no hesitation.

You've done your homework, but it is important to do a thorough job before you place your bet.

Now without going into too much detail. Margin calls are not necessarily such a bad thing if you have a technique that will blow one account but will be very good to other accounts. I often use that approach, and I use accounts as the stop-loss. So a margin call is equal to the stop-loss.

So be open to new approaches and different approaches when gambling in the forex market.

Now here's a big one and one that I see a lot of traders try to avoid. You have to have many trading methods and also many EA's. You can't just rely on one EA that you're trading. You have to have a collection of indicators appropriate to the market conditions that you're trading in, and you also have to have various techniques so that you can analyze the odds of a transaction succeeding.

You can look at any transaction, and they'll always be a percentage of the trade that says Buy, and there also will always be a percentage of the trade that says sell. You need to be an expert at calculating the odds of those transactions.

Now the good thing is that although I had losses of 1.7 k, my gains were a lot bigger than that and they were at the level that kept my wife very happy, and that's one of the measures that I use of my forex trading success.

So by treating forex trading as a gambling business, calculating the odds of success on every single decision and trade that you place, you can make sure that your gains are bigger than your losses and my case I was looking at my losses on an annual basis but in micro terms I do that on every single dealer.

So losses are only part of the price of participating in the forex market.

By treating your forex trading as a gambling business. And calculating the odds on every activity that you do, whether you are trading an EA or whether you were trading on a manual transaction. Make sure that those odds are always in your favor and then what will happen is at the end of the year your costs or your losses will be small compared to the gains that you get for that particular year.

Everything you do at a micro level will then suddenly become visible on a macro level such as a tax return.

I hope I've given you some food for thought.

Don't be scared of losses. They are part of forex trading gambling. You need to know that they will happen and are unavoidable.

I hope you've enjoyed the ideas that I have given you in my story.

Cheers,

SingaFX

Linkback: https://www.forex.zone/forex-education/29/my-story-how-i-trade-and-losses-1-7-k-dollars/1595/

$1.6 K is huge sir...:D.i do agree sir loses and margin call is part of forex trading and no matter profesional or newbie all have same opportunity to get lose even margin call.the importan thing is we can learn from mistake that we make thats the point

then what is your trading now sir? can you profit consistently? I've also lost $ 500 in forex

Hi everybody, I've just come back from my friend home, and it was quite an exciting visit, during this visit we had determined that I had losses from my forex trading activities of 1.7 k dollars that included 16 margin calls or blown accounts. Now all of that is mainly due to the gambling nature that I've to have towards forex trading.

So during that year, I used 38 EA's and my manual trading systems that mainly were very concerned with those of the previous years. Now I don't want you to think that I'm a reckless gambler to the contrary. I calculate the odds of every single bet that I place before placing the bet. Every unique EA that I use goes through a very comprehensive testing process, evaluating the EA, finding suitable settings that give me the best margin of error between whatever margin ever, get the settings wrong with slow profitable and only when I have supreme confidence do I place the EA into my live trade.

EA from a collection of years that I trade, so I'm cautious about that. If the EA starts performing poorly, I take it out, retested and possibly put it back in or keep it on the rack for future use.

My manual systems are very comprehensive. I look at 24 to 36 charts before I make a trading decision. I evaluate all the odds. I often don't trade if I'm not a hundred percent comfortable. But when I am comfortable, I trade quite aggressively.

I do a lot of homework before I trade. The other thing that's very important is I do my best to learn from the market.

I analyze my successful trades and the ones that have failed after each week's trading activities.

Now I in spite of all that and all my years of experience and knowledge I still had losses of 1.7 k dollars. Now that should show you that losses are the cost of forex trading. You can't trade properly with the expectation that you never going to make a loss.

So the first characteristic that you've got to develop is that you have to be a good loser when you place a bit in the forex market.

You must be prepared to take the result on the chin. If it's a loss, take it on the chin. If it's a profit, fantastic your plans have worked out as you thought they would.

But you need to learn to be a loser. The next thing is you need to do your homework before placing a bet. You need to know the odds of every single deal. You need to know that the deal is the best deal in the whole forex market that you could possibly make and then you must make it no hesitation.

You've done your homework, but it is important to do a thorough job before you place your bet.

Now without going into too much detail. Margin calls are not necessarily such a bad thing if you have a technique that will blow one account but will be very good to other accounts. I often use that approach, and I use accounts as the stop-loss. So a margin call is equal to the stop-loss.

So be open to new approaches and different approaches when gambling in the forex market.

Now here's a big one and one that I see a lot of traders try to avoid. You have to have many trading methods and also many EA's. You can't just rely on one EA that you're trading. You have to have a collection of indicators appropriate to the market conditions that you're trading in, and you also have to have various techniques so that you can analyze the odds of a transaction succeeding.

You can look at any transaction, and they'll always be a percentage of the trade that says Buy, and there also will always be a percentage of the trade that says sell. You need to be an expert at calculating the odds of those transactions.

Now the good thing is that although I had losses of 1.7 k, my gains were a lot bigger than that and they were at the level that kept my wife very happy, and that's one of the measures that I use of my forex trading success.

So by treating forex trading as a gambling business, calculating the odds of success on every single decision and trade that you place, you can make sure that your gains are bigger than your losses and my case I was looking at my losses on an annual basis but in micro terms I do that on every single dealer.

So losses are only part of the price of participating in the forex market.

By treating your forex trading as a gambling business. And calculating the odds on every activity that you do, whether you are trading an EA or whether you were trading on a manual transaction. Make sure that those odds are always in your favor and then what will happen is at the end of the year your costs or your losses will be small compared to the gains that you get for that particular year.

Everything you do at a micro level will then suddenly become visible on a macro level such as a tax return.

I hope I've given you some food for thought.

Don't be scared of losses. They are part of forex trading gambling. You need to know that they will happen and are unavoidable.

I hope you've enjoyed the ideas that I have given you in my story.

Cheers,

SingaFX

I read from beginning to end and draw conclusions about mistakes that count and make our way to improve and improve ourselves, even though it has increased by 1.7k usd but if it reacts well then going forward will also be good.
keep calm and don't give up in trading. 

Hi everybody, I've just come back from my friend home, and it was quite an exciting visit, during this visit we had determined that I had losses from my forex trading activities of 1.7 k dollars that included 16 margin calls or blown accounts. Now all of that is mainly due to the gambling nature that I've to have towards forex trading.

So during that year, I used 38 EA's and my manual trading systems that mainly were very concerned with those of the previous years. Now I don't want you to think that I'm a reckless gambler to the contrary. I calculate the odds of every single bet that I place before placing the bet. Every unique EA that I use goes through a very comprehensive testing process, evaluating the EA, finding suitable settings that give me the best margin of error between whatever margin ever, get the settings wrong with slow profitable and only when I have supreme confidence do I place the EA into my live trade.

EA from a collection of years that I trade, so I'm cautious about that. If the EA starts performing poorly, I take it out, retested and possibly put it back in or keep it on the rack for future use.

My manual systems are very comprehensive. I look at 24 to 36 charts before I make a trading decision. I evaluate all the odds. I often don't trade if I'm not a hundred percent comfortable. But when I am comfortable, I trade quite aggressively.

I do a lot of homework before I trade. The other thing that's very important is I do my best to learn from the market.

I analyze my successful trades and the ones that have failed after each week's trading activities.

Now I in spite of all that and all my years of experience and knowledge I still had losses of 1.7 k dollars. Now that should show you that losses are the cost of forex trading. You can't trade properly with the expectation that you never going to make a loss.

So the first characteristic that you've got to develop is that you have to be a good loser when you place a bit in the forex market.

You must be prepared to take the result on the chin. If it's a loss, take it on the chin. If it's a profit, fantastic your plans have worked out as you thought they would.

But you need to learn to be a loser. The next thing is you need to do your homework before placing a bet. You need to know the odds of every single deal. You need to know that the deal is the best deal in the whole forex market that you could possibly make and then you must make it no hesitation.

You've done your homework, but it is important to do a thorough job before you place your bet.

Now without going into too much detail. Margin calls are not necessarily such a bad thing if you have a technique that will blow one account but will be very good to other accounts. I often use that approach, and I use accounts as the stop-loss. So a margin call is equal to the stop-loss.

So be open to new approaches and different approaches when gambling in the forex market.

Now here's a big one and one that I see a lot of traders try to avoid. You have to have many trading methods and also many EA's. You can't just rely on one EA that you're trading. You have to have a collection of indicators appropriate to the market conditions that you're trading in, and you also have to have various techniques so that you can analyze the odds of a transaction succeeding.

You can look at any transaction, and they'll always be a percentage of the trade that says Buy, and there also will always be a percentage of the trade that says sell. You need to be an expert at calculating the odds of those transactions.

Now the good thing is that although I had losses of 1.7 k, my gains were a lot bigger than that and they were at the level that kept my wife very happy, and that's one of the measures that I use of my forex trading success.

So by treating forex trading as a gambling business, calculating the odds of success on every single decision and trade that you place, you can make sure that your gains are bigger than your losses and my case I was looking at my losses on an annual basis but in micro terms I do that on every single dealer.

So losses are only part of the price of participating in the forex market.

By treating your forex trading as a gambling business. And calculating the odds on every activity that you do, whether you are trading an EA or whether you were trading on a manual transaction. Make sure that those odds are always in your favor and then what will happen is at the end of the year your costs or your losses will be small compared to the gains that you get for that particular year.

Everything you do at a micro level will then suddenly become visible on a macro level such as a tax return.

I hope I've given you some food for thought.

Don't be scared of losses. They are part of forex trading gambling. You need to know that they will happen and are unavoidable.

I hope you've enjoyed the ideas that I have given you in my story.

Cheers,

SingaFX

patient friend .. make it an experience ... I'm also sorry

can be a reflection of friends so they don't experience the same thing. and become a valuable lesson for you.

Experience is a valuable teacher, moreover we can learn from other people's experiences without needing to experience it 

Make losing a valuable experience, because that way we know where our mistakes are, and don't like to repeat the same thing just because you're curious, and never happen like that.

if we are trading without using good money management it will be very easy for us to lose big money