Daily Forex #35 - Crash & Burnt By The Markets

A few days ago I shared about how I accidentally stumbled on Forex and made a career out of it. To read that blog post, you can go HERE.

Yesterday (<-- Click this link to read yesterday's story), I shared about the first time I went out with my colleagues to party since I discovered Forex trading. I was holed up in my hotel room for about 2 months before I finally agreed to go out with them. I normally gave excuses like "I'm busy with work", "I'm tired", "I'm sick"! Sounds more like a wife or girlfriend who's giving excuses when you wanna have sex with her! LoL 😂

But anyway, that night they didn't want to accept any excuses because it was one of my colleague's birthday and I thought to myself "Well just tonight I will go out and relax, as a reward to myself for the past 2 months hard work." I had made about $16,000 profit from my Forex trading in 2 months and I think I deserved a reward to celebrate this new-found wealth.

Little did I know that it was not going to be just 1 night! That night we partied like a ROCK STAR and I paid for all the drinks which amounted to about $1,000. I was getting lots of attention from the ladies and I LOVED IT! I was hooked! I went out with them almost every other night again after that.

I would rush back to my hotel room after meeting clients and dinner to place my trades at about 8pm. I skipped the Happy Hour with my colleagues and joined them after 11pm. Some days, I let my trades continue to run while I went out to party and check them again when I returned at about 3am. There were also days where I was too drunk to check the trades and only turn on my laptop in the morning after I woke up.

I was getting a lot of attention because I was spending hundreds of dollars every night on drinks and ladies were flocking to be by my side. Needless to say, I succumbed to urges and brought a few different ones back to my room.

It was all going well and I was having a great time. Forex trading seem even easier than I thought it would be. I could simply place my trades and go out! I was still raking in the profits every week and I didn't even have to stare at the screen for hours and hours! My trading account had grew from $10,000 to $30,000 in just 3 months.

And then it happened! After a usual night out, I returned to my room one night at about 3am and I just had this very strong feeling to check on my trades. I turned on my laptop and got a shock of my life! In my haste to go out earlier, I had placed a trade and forgotten to put my Stop Loss! I was looking at a running trade and it showed -$18,000!

I was dumbfounded. Before I knew it, it was -$20,000 and instincts took over. I quickly exited the trade as I didn't want to lose my capital of $10,000. I was at a lost and didn't know what to do. I was devastated. 3 months of hard work, gone in 1 night! I couldn't understand how I could lose so much money in just 1 trade. How is that possible?

Is this the end of my Forex trading journey? Will I ever recover from this blow? Stay tuned for tomorrow's post!

Hope you enjoy today's blog post and if you have any questions please feel free to ask in the comments below and I will definitely respond to you.

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