Never attempt trading without knowledge
I did not just arrive but I started somewhere, somewhere not fun at all, and ooh!! I haven’t even arrived yet, I am still very far from where I want to be. From the past few years that I’ve been trading Forex I struggled a lot when it comes to reading real stories about Forex trading.
Why did I start this blog?
When I started this blog I was a lonely trader looking for a space where I could share my bad experiences but unfortunately I couldn’t find any forum or group where traders shared the reality of Forex trading or rather real stories, but only flashing of possessions and selling of dreams to aspiring traders.
I therefore decided to be a “storyteller”. I started this blog to tell my Forex trading story in a real way possible since everyone out there is more interested in sharing the beautiful story and happy endings. Most of the time I get people asking me why do I hate Forex trading groups and forums? I do not hate Forex groups.
I just decided to stay away as I couldn’t find what I was looking for at the time. I was looking for real stories, for people who were willing to share what I was going through, but being there in groups made me to feel like a failure as no one would really share their worst moments or reality. I therefore became a loner (still am) and started this platform, my diary to share my Forex trading stories.
I never even thought people would read, but I am happy that people are reading and following. This place might be the right place for you, maybe you are reading here now and what I’m about to share is exactly where you are or what you are going through.
Ok I am not sure if it is me or there are Forex traders who think like me out there, everyone seem to believe that Forex trading can be learned in just 2 days, I don’t. I tried and believe me it didn’t work, maybe for someone who’s been trading for a while, someone who just need to learn a new strategy or new tricks, yes I agree 2 days might be ideal, but definitely not for a beginner because strategy is not everything, understanding the financial markets can never be achieved in 2 days, unless I am the dumbest woman on earth to ever fail to learn Forex trading in 2 days.
I know someone might be reading this and stopping right here just because I said it is impossible to learn everything in 2 days, I know it is impossible, I am yet to see a successful trader who learned in 2 days. As a mentor myself, I find it very hard to find people who are in a right state of mind, the influence from social media is too huge, only financially matured can survive.
My worst moments
There are few moments that were the most difficult in my trading life, but let me tell you about this one in particular. It was Friday, I had everything “under control”so I thought. I cannot even begin to think of how on earth did I do something so stupid. I had $900 in my account and had 20 positions opened at the same time.
I am not exaggerating I really had 20 position. Forex trading was the only thing I spoke about to my friends and family, I was forever telling them how I’ll make my first million soon, little did I know I was about to”kiss”my trading account goodbye on that Friday, I would never forget it but I now smile as I write this, what an experience.
It was the first Friday of the month and Non Farm Payroll (NFP) was about to be released, I didn’t know what was that all about, I had never heard anything about the economic news that take place on a daily basis. I was still very naive to believe that the currencies move randomly.
I was very lucky I must say, I see a lot of traders who are just lucky, pity luck runs out in this business and when it does, it hits you very hard, back to my 20 open positions. I was watching my charts moving up and down and feeling like a “dollar queen” thinking to myself, I got this.
I was really sure I got this. I had over $900 on my balance (which I thought was everything at that time) I watched my 20 position closing one by one.I did not really think I was in trouble (when you don’t know what you don’t know I was not scared at all even when I saw the red line flashing, I didn’t know what it was or what it meant.
I got an email, before I could even finish reading it, all my open positions were automatically closed and the $900+ on balance was suddenly reduced to $0.36, still I was not scared at all as I didn’t know what was happening in fact I thought the platform was playing tricks on me (in tears laughing as I write this) I went to my broker’s live chat to ask them to rectify the error, I got the shock of my life, I was told I was on margin call. I did not even know what was a margin call. For some reason I still thought there was a solution to reverse the margin call, ooops!! there was no solution, I actually lost everything.
That was the end of me and talk about my confidence being bruised, I got so embarrassed and ashamed. I got revolted and told myself I will get this one day. My trading buddy, knows how I used to tell her about my son teasing me every time he gets a mosquito bite and get that itchy red mark, he always teases me and say “mom look , I’m on margin call” and we both laugh about it, he was 9 years when it happened and that was 4 years ago.
It was so hard for me, I was so traumatized and even scared of using or looking at a microwave as I was scared of any moving numbers. At a petrol station, it was just a nightmare to see any moving numbers. I would just see my trading account vanishing before my eyes, it reminded me of the day and the flashbacks were just horrible.
Thank you for reading as I wait for real stories. Kindly share yours by leaving a comment. Thank you for stopping by, please do share the post and tell us your own story. I enjoyed telling you my story I hope you enjoyed reading. Contact me for private coaching so you can avoid the same mistakes that I made.