Well, to start with, I didn't have much. I felt more confident after reading an ebook on how to trade the Mini Dow (YM), so I created a $5000 account.
I had to learn the hard way that I had no idea what I was getting into. I have lost sixty percent of my capital in three days. I felt both terrified and shocked. At that point, I realized I had very little expertise about trading and that what little I did know was superficial.
I knew there was some chance in trading, and it was exhilarating to be out there trading the Mini Dow futures, so I didn't want to give up completely.
Forex was something I was unaware of at the time; I only started learning about it when I started looking up more information online.
After that, I developed an interest in Forex and tried a lot of different methods developed by other traders. I also attempted to design my own utilizing the tools provided by the trading platform. For a while, nothing was effective for me. I lost a ton of demo accounts experimenting with different tactics. I learned a lot along the way, and even though it took me a while, it was an amazing experience.
I started developing my own techniques and analysis tools after just five years of learning forex. Looking back, after 14 years of trading, I can say that the struggle was real, but it was well worth it.
I think I understand how the market operates now.
Although the majority of us may think the market is unpredictable, I assure you that it actually follows some sort of rule. You may relax and start earning money after you understand how to deal with the volatility.
I don't feel as horrible about losses as I did when I was first starting out, and I don't even want to recover them quickly because that's not the proper way to handle losses. All you need to do is focus on improving as a trader and make an effort to absorb the lessons you lose. Examine the cause of the loss and how to prevent it from happening again.
If you persist, you will eventually become an experienced, successful, and self-assured Forex trader.
I had to learn the hard way that I had no idea what I was getting into. I have lost sixty percent of my capital in three days. I felt both terrified and shocked. At that point, I realized I had very little expertise about trading and that what little I did know was superficial.
I knew there was some chance in trading, and it was exhilarating to be out there trading the Mini Dow futures, so I didn't want to give up completely.
Forex was something I was unaware of at the time; I only started learning about it when I started looking up more information online.
After that, I developed an interest in Forex and tried a lot of different methods developed by other traders. I also attempted to design my own utilizing the tools provided by the trading platform. For a while, nothing was effective for me. I lost a ton of demo accounts experimenting with different tactics. I learned a lot along the way, and even though it took me a while, it was an amazing experience.
I started developing my own techniques and analysis tools after just five years of learning forex. Looking back, after 14 years of trading, I can say that the struggle was real, but it was well worth it.
I think I understand how the market operates now.
Although the majority of us may think the market is unpredictable, I assure you that it actually follows some sort of rule. You may relax and start earning money after you understand how to deal with the volatility.
I don't feel as horrible about losses as I did when I was first starting out, and I don't even want to recover them quickly because that's not the proper way to handle losses. All you need to do is focus on improving as a trader and make an effort to absorb the lessons you lose. Examine the cause of the loss and how to prevent it from happening again.
If you persist, you will eventually become an experienced, successful, and self-assured Forex trader.