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The Night it All Went Wrong

 
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kahunakana

The Night it All Went Wrong

So... There I was for the 2 weeks and half in Silver 1, then 2,  In particular the last wek of Silver 1. I was up over 1000 pips, and going into the first week of Silver 3 with over 400. All in all, since I started Silver II I have done very well with the simple strategy that Todd has used in his classes in looking at the daily and 4hr to determine the trend.

I was doing very well in all with well diversified holdings in several nonsimbiotic currencies. 

I messed up when I becam over confident in a single trend, that I projected to others with the same base currency.

In this case, I really bet the farm on the CAD loosing, and boy did that come bac with a vigencence.

The moral of the story is make sure you are well diversified. I may had been lucky this time on a practice account.. However,  as for a live????

We learn more from our losses than espress. 

To this end, I bid gooo night.

Daniel

Wed, 05/16/2018 - 1:57am
 
dav16a

good lesson

 
karol230

yes this is true we lerning more from mistake than from good trades

 
richarddavidemmett

Very true. Controlling the maximum risk on every trade and diversifying prevents big losses from one trade idea.

 
Roderick Lottering

Overconfidence cost me dearly too. So many times especially if my trades are winners, I make the same mistakes.
The markets can sometimes humble one in quite a way.

 
chrismorley1957

you are not on your own think most of us have done it .I have got through lots of accounts till I got here and started to learn.
Decided not to rush through the levels but ti learn from them .I have even gone back and gone through the modules again .
finding a stratergy is the hardest for me and sticking to its rules