My Forex Trading Experience (I)
In previous articles I wrote about emotion and strategy, in this article I want’s review my trading history and talking about my emotional problem and show you how I pass that season to become successful trader.I am sure that you are faced or you will face with all of these emotions.
To control our emotional behavior first we must understand what is happening in our mind is it from our wise or emotion?!Sometime realize this situation is very hard, we can’t specification that our decision is emotional or wisely, this contradiction will hesitant us to make right decision in our life too.Of course I don’t want write about society psychology! I want write about my own experience and different emotional that I had faced when I start my trading I hope these experience will be useful for you.
When I met the Forex market for the first time , I started my first real account after only 30 days demo trading and it’s very amazing that I earn profit up to 50% in the first week without any knowledge ,I try to analyze Forex market just by looking the chart movement!I am sure that you had experience that earn a lot of profit in the short time the first thing that will come in your mind is this sentence : ” Oh yeah ! I am rich now!”
After the short time huge profit you will calculate your future fortune immediately! And think that yes if I continue like this I will buy my Mercedes in the next month and you will go to your hallucination!!In the second week I lose all my profit plus a few amount of my initial deposit!It was very amazing because I thought that this is not important cases, I’d told myself that don’t worry you was successful on the first week then you can recover your losses and this imagination happened and I got 25% profit in the third week.
It was amazing I did not know anything about the market no indicators no resistance and support and etc.
I got profit just by looking the chart and price movement.
Well I pride myself a lot and I thought that I found the property way! And I did not think that I need learning!
One month later I got call margin!
Only one matter came to my mind for the first time and it was my profit!!I just looked my history and repeat these sentencesfor myself:
Oh yeah if I bought on that price now I had 1000$ profit with one trade!
Oh my god that loss position if it was open till now I had 2000$ profit!!
After that horrible trading I decide to go to the learning class and I always thought that when I did not know anything I got 50% profit! Then if I learn Forex market analysis I will earn 200% a week or more! And I went to the class with this ridicules imagination!I learn support and resistance line first, and then I have feeling that: “I learned market analyzing completely and now I am ready to start real account again!”
Because I had real trading experience I did not trade on my demo account seriously.Demo account Instead of a considering and becoming main practice converted as a fun game. And I could not trade or even look for demo account seriously. I sent deposit to my real account when I learn some indicators and resistance support and trend line!It’s fantastic when you learn these indicators in the class room the teacher show you the part of chart that the indicator was show correct signal and it is funniest teacher learning I will talking about this later.
Well my second real account with a lot of new information’s about analyze the chart go to zero in a short time again!I got call margin again and again during my learning course and when I pass my class and I’d learned all technical parameters and tools I could not earn profit!But the problem was not my learning the problem was other.I found my problem with a heavy loses! And now I am writing it for you for free and I wish you don’t pay your money to solve your mistakes in the Forex market.The short history of my trading contain very important note and I will explain them and I will show you why I could not stop my losses and trade with my mind.
Fear and Pride
The first trade is very important just like the first penalty in football! If you earn profit in the first trade you will get self-confident and if in the first trade you lose you will fear to trade in the next orders.The best way to prevent this problem is when you closed your first trade even in loss or profit leave trading for 1 or 2 days and let emotional decision go out!
You have enough time to trade don’t worry!
Every time when you earned profit continual you will face with pride sense and you must know that you are in pride trap now! Leave trading immediately it’s not important that how much knowledge do you have pride will force you to trade with emotion and the worst matter will happen when you earn a lot of profit and again lose a few amount of your profit .The pride makes you greedy and then you don’t like to accept losses in this situation you want attack to the market to get back your profit!!
Sometime the brokers requote will make you crazier! And you want open an order immediately and broker wants this situation exactly!
Broker want make you crazy and angry.
Well Remember that if you had feel happy a lot after a few trades or of you had feel fear a lot after a few loss leave trading and rest for a while When you feel you have found the rich way! Leave the trading if you don’t leave you will lose very soon Look at your demo account just like your real money if you look it like a game you will lose in your real account surly.
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