I've started trading forex margins since early 2005.
Before that I only heard of margin forex trading but never participated in it because many say it's a very risky type of investment, well, better say it scalping for short term profits.
But in 2005, I have made some savings and since I'm always interested in new things, things I've not tried and different types of investments, I decided to try it and opened a demo a/c.
I did not know any good systems at that time, just buy and sell by simple logic. My logic that time was: Buy when price crosses up ma (default value, forgot which period though haha...) and I feel like it's going up, and sell when price crosses down ma, and when I feel like selling. The results were beyong expection! Very good, 5o% rise in balance within 2 weeks!! The next day, I opend a real a/c with forex.com, a company that appears at the very top when I search for forex in google haha:D So that begins my very first step of the long march. Maybe every new guy has some luck, I've increased my a/c balance 40% just in a few months time. And on July 21, the Chinese government announced to reform its exchanged rate system o a managed floating exchange rate regime, that night when I learned the news, I quickly use all available margin I can to sell as many lots as possible the usd/jpy pair, and at midnight plus when i went to bed, the a/c bal increased another 60 percent. I though the pair would just go down and down to maybe 80, or at least close to the historical low. However...
On the next morning when I got up, I found the floating profit has shriken by more than half, but I did not do anything, I did not know the importance of s/l, nor t/p, nor trailing profit, not any one of them, I just simply hold the belief that it will go down and down and just let the pair open...in the next following days, the profit kept shriking, and eventually from profit to loss....then what I did was like what nearly every freshman would do, and more. I top up my a/c and sell more lots of usd/jpy. I think you would know what happend next....the god damn pair kept rising up and up, with a hope of belief that it finally come down, I did not do anything (except worrying and seeing my a/c diminishing) and finally I got my first margin call....sigh...margin call, "D Call" that no one welcomes!!
Not long after I lost a huge amount, the fucking pair started to drop!! and fiercely!!! 1000 pips down!!! April that year, probably one of the worst months in life...yes, it's finally down, but I've not much left to take advantage of this drop, so I used the remaining bal to again make myself in the airforce of the battle, try to bomb the pair down further!
This time, it started to be good, 'coz it was still dropping when I put my hard earned in, and that made me feel good, so I set the same target, and when it went down below 110, I put more, bombing it down to 80! However...
The next month, the bloody pair started to shoot up again!! And I dun wanna describe how bad I was hurt during the battle...but I've lost confidence fighting this battle and I said to myself I would never touch this evil pair ever again!
Before that I only heard of margin forex trading but never participated in it because many say it's a very risky type of investment, well, better say it scalping for short term profits.
But in 2005, I have made some savings and since I'm always interested in new things, things I've not tried and different types of investments, I decided to try it and opened a demo a/c.
I did not know any good systems at that time, just buy and sell by simple logic. My logic that time was: Buy when price crosses up ma (default value, forgot which period though haha...) and I feel like it's going up, and sell when price crosses down ma, and when I feel like selling. The results were beyong expection! Very good, 5o% rise in balance within 2 weeks!! The next day, I opend a real a/c with forex.com, a company that appears at the very top when I search for forex in google haha:D So that begins my very first step of the long march. Maybe every new guy has some luck, I've increased my a/c balance 40% just in a few months time. And on July 21, the Chinese government announced to reform its exchanged rate system o a managed floating exchange rate regime, that night when I learned the news, I quickly use all available margin I can to sell as many lots as possible the usd/jpy pair, and at midnight plus when i went to bed, the a/c bal increased another 60 percent. I though the pair would just go down and down to maybe 80, or at least close to the historical low. However...
On the next morning when I got up, I found the floating profit has shriken by more than half, but I did not do anything, I did not know the importance of s/l, nor t/p, nor trailing profit, not any one of them, I just simply hold the belief that it will go down and down and just let the pair open...in the next following days, the profit kept shriking, and eventually from profit to loss....then what I did was like what nearly every freshman would do, and more. I top up my a/c and sell more lots of usd/jpy. I think you would know what happend next....the god damn pair kept rising up and up, with a hope of belief that it finally come down, I did not do anything (except worrying and seeing my a/c diminishing) and finally I got my first margin call....sigh...margin call, "D Call" that no one welcomes!!
Not long after I lost a huge amount, the fucking pair started to drop!! and fiercely!!! 1000 pips down!!! April that year, probably one of the worst months in life...yes, it's finally down, but I've not much left to take advantage of this drop, so I used the remaining bal to again make myself in the airforce of the battle, try to bomb the pair down further!
This time, it started to be good, 'coz it was still dropping when I put my hard earned in, and that made me feel good, so I set the same target, and when it went down below 110, I put more, bombing it down to 80! However...
The next month, the bloody pair started to shoot up again!! And I dun wanna describe how bad I was hurt during the battle...but I've lost confidence fighting this battle and I said to myself I would never touch this evil pair ever again!
