I'm a (Forex) Loser

DailyForex.com Team

I'd had enough. I'd "?played" for a few days, doing lots and lots of simple trades in the demo mode. This is kids stuff, I think. I canForex trading - Losing money is part of life solidify my Forex trading strategy as I go along; I'll just keep using my "?toe in the water" approach and it will be fine. Gulp.

I sign out of demo mode and sign into "?Real USD." Gulp again. No more tokens, no more Monopoly money. This is the stuff in my wallet, in my kids' piggy banks – the stuff I work pretty darn hard for (okay, maybe I work a little hard for it). It's real honest-to-goodness George Washington dollar bills.

Okay, I'm in. Deep breath. I'm going with the old EUR/USD standby which I've been following very, very closely. There are some issues over in Portugal (aren't there always) that should give the Euro a little bit of trouble, so I'm thinking a slight drop is more than probable. I've read the analysts' insights and adhered to professional Forex trading strategies and most agree that the Euro will be hard pressed to find any support.

In for a penny, in for a pound – isn't that the old saying? (Or in this case ten thousand dollars!) Against all earlier inclinations (and my gut instincts), when confronted with the choice, I opt to go higher than the minimum trade. I am that confident. I put in a $10,000 sell order for EUR/USD.

So much for analysts' insight. The Euro seems to be finding some support after all, at least in the few seconds after I've got my trade in. Like a car accident that you can't look away from, I'm compelled to watch. And it ain't pretty.

I'm down $3.00 (Diet Cokes are too expensive here, anyway, I think).

I'm out $10 (there goes the Chinese food for lunch – oh well, MSG probably isn't good for me).

$15.00 (I can get away without a haircut for another month – the shaggy look is in here).

$25.00 (I'm pretty sure my daughter can squeeze into her sneakers for a while longer if she scrunches up her toes a bit).

And I'm thinking, why the heck am I still watching this? Why isn't my well thought out Forex trading strategy working? Why am I not putting an end to this madness? I can't help but watch the numbers move back and forth, worsening, improving, worsening more. Finally, it dawns on me – I am losing for goodness sake – and I just don't have it in me to take anymore punishment!

Why didn't I put a stop to it earlier? I'll tell you why; it's pure gambler's mentality – the next spin is going to give me the jackpot. Or maybe it's the one after that? In any event, for now, I am a Forex loser.

DailyForex.com Team
The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.

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