$21,000 burn

[Pak.Lang]

War story, huh? How about a real nightmare story....About 2 years ago, right before New Years day, I was packing my stuff getting ready to go to Vegas to spend New Year..and I noticed the Pound/Yen had just moved about 400 pips down...I figured it was time to do a long scalp. So I put a 2 lot trade ($20 a pip) and tried to get about 10 pips against the trend. Well it quickly moves down another 50 pips(and I freeze up) but what I didn't know was that the market closed early that friday, and I didn't have a stop loss on. So I fly to Vegas and figure Monday I'll take care of the trade. I wasn't worried because I figured it would retrace eventually and I'd get back to even. Monday, when I log on, it had moved over another 600 pips down. This is when the Dow first started really crashing. I'm now $11,000.00 down and I only had a 13,000$ account to start with. Now I've only got $2,000 left in the account. So I run to a branch of Bank 0f America and I wire in $8000.00 to my broker so I don't blow out the account. I figure there is no way it's going down enough to take that money too. I still don't have a stop-loss cause I don't want to get out while I'm this far down. I decide to forget about things and enjoy my trip and wait for it to come back. That night it goes down another 500 pips and my account gets liquidated. Pound/yen must have dropped 2000 pips in a few days. Total loss $21,000.00. And in the next 6 months the Pound/yen never came close to coming back where it was before that. So if anyone says, "It can't go down any more....." Don't listen.

- Azhar

 

[scalperzmania...]

Trade forex hati kena cekal
X ada rezeki hari ini akan ada rezeki lebih baik utk anda kemudian hari

 

[sakuragi fx]

- Azhar

Nice story...8->

 

[abu85]

follow the trend..

 

[jibam]

follow pun kena.. lawan pun kena... sabaq aja la..

 

[moneymaker3000]

kalau dia bagitau tarikh kejadian bagus gak, aku nak tgk gj turun kaw2 tu

 

[kni]

memang hati kering ni...

kalau aku masuk post $10 per pip, aku tak gi mana2 dah...

 

[haudli]

mmg menggila ...kalau convert rm..pergghh

 

[MKO]

yg aku tau black october 2008 yg GJ junam kaw2...
tapi citer ni awal tahun baru lak...
ntah btol ke ni?

but moral of the story boleh pakai le.....

 

[NEMO]

2000 pip tanpa retrace..really nightmare....tat's why we need to put SL