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The day I blew my first trading account...
STORY THREAD
STORY THREAD
The day I blew my first trading account was a Wednesday (you never forget these things 
)...
Anyways, it was a normal day, I woke up, got ready for my 9-5 and I went to work like a regular day...
)...Anyways, it was a normal day, I woke up, got ready for my 9-5 and I went to work like a regular day...
The AM was packed with a 4 hour office meeting so I thought...
“Perfect chance to make money while being paid already”
“Perfect chance to make money while being paid already”
I took my seat right at the back of the meeting room...
... knowing the lights would be off for the presentation, I sat where I could trade without eyes over my shoulder
... knowing the lights would be off for the presentation, I sat where I could trade without eyes over my shoulder
[Fast forward 30 minutes]...
I whip out my phone, do a quick check of fundamentals, open my MT4 and get into about 5 multi-pair positions for the first set of GBP news data releases...
I had a 1:1000 leverage and 7 months experience, I was ready to hit the market... HARD!
I whip out my phone, do a quick check of fundamentals, open my MT4 and get into about 5 multi-pair positions for the first set of GBP news data releases...
I had a 1:1000 leverage and 7 months experience, I was ready to hit the market... HARD!
The plan was to place trades based on the news data that came out and to exit my positions once the meetings were over...
I’m thinking proudly “Solid plan, this is how the gurus do it, ‘quick in and out’”
I’m thinking proudly “Solid plan, this is how the gurus do it, ‘quick in and out’”
The 1st set of news data comes out, the data supports my positions and it’s allllll blue on my screen...
Profits are flowing thick and fast now...
So what do I do? I DOUBLE DOWN for the next release!
Profits are flowing thick and fast now...
So what do I do? I DOUBLE DOWN for the next release!
[Fast forward another 40 minutes]
... 2nd set of news data comes out and deeper I go into profits...
I just can’t believe what I’m seeing...
I’m doing silent fist pumps in the meeting now...
... 2nd set of news data comes out and deeper I go into profits...
I just can’t believe what I’m seeing...
I’m doing silent fist pumps in the meeting now...
I was already browsing the Lamborghini website at this point.
I was looking at which colour I would be buying my new car in with my forex riches
I was looking at which colour I would be buying my new car in with my forex riches
Everything is going swimmingly and the meeting ends.
Everybody piles out of the room and I’m still there watching my blue profit screen...
You’re probably thinking that now’s a good time to lock in profits...
Nope! I triple down now and I’ve got 30 running entries
Everybody piles out of the room and I’m still there watching my blue profit screen...
You’re probably thinking that now’s a good time to lock in profits...
Nope! I triple down now and I’ve got 30 running entries
This is where it all goes dark... 
We go back to our stations and I’m looking at closing all positions and taking my winnings.
Then my boss calls me... “Drop what you’re doing, there’s an urgent matter I have for you”
I quickly head to her office to pick up the client file
We go back to our stations and I’m looking at closing all positions and taking my winnings.
Then my boss calls me... “Drop what you’re doing, there’s an urgent matter I have for you”
I quickly head to her office to pick up the client file
I come back after 5 minutes and my screen is mostly RED now...
It’s pullback time and I quickly realise what being overleveraged means...
I’m just thoroughly confused at this point
Paralysed really...
It’s pullback time and I quickly realise what being overleveraged means...
I’m just thoroughly confused at this point
Paralysed really...
I’m going deeper and deeper into red territory...
My mouth dry, palms sweaty, knees weak, arms are heavy...
My mouth dry, palms sweaty, knees weak, arms are heavy...
I’m trying to focus on an exit plan but my focus has long left me as emotions take over.
I go even deeper into negative margin territory
My mind at this moment
I go even deeper into negative margin territory
My mind at this moment
My colleagues notice something is up and they’re asking “What’s wrong?”
Me: “Nothing, everything is fine
”
Me: “Nothing, everything is fine
”
In my mind: “I’M LOSING MONEEEEEYYYYYYY! 
”
”
I’m frozen still...
While I search for my senses as the pullback wrecks more havoc on my balance
...
While I search for my senses as the pullback wrecks more havoc on my balance
...
I decide to offload losses now...
But it’s too late...
Lost too much time freaking out...
Price spikes and my account margins give in...
But it’s too late...
Lost too much time freaking out...
Price spikes and my account margins give in...
My trading screen freezes, refreshes and reflects 0.00 all over. Zero positions showing.
I’m in denial now...
I reset my phone. Log out of my account and log in again.
Still all 0.00...
Shock sets in now
I’m in denial now...
I reset my phone. Log out of my account and log in again.
Still all 0.00...
Shock sets in now
I was silent for the remainder of the working day 
I drove the speed limit all the way home with no music, or radio that day.
Just me and my hurt feelings.
I drove the speed limit all the way home with no music, or radio that day.
Just me and my hurt feelings.
I left forex for about 4 months after this
I’ve still got war wounds til this day but I learn what leverage meant this day.
[END]
I’ve still got war wounds til this day but I learn what leverage meant this day.
[END]
