Wednesday, January 14, 2009

Definitely Getting Spanked


Hey, it's important to have a good attitude, so don't get me wrong. Right now I'm in the process of being spanked for being in the wrong side of the forex market. Again, if you are just dropping by, I'm only dealing with a $100 account. It's not that big a deal and I get to learn a lesson.I should close my EURUSD position and take a hefty percentage loss.However, it would really chap my $ss to see the market reverse and spank me again while I'm sitting on the sidelines. The lesson is that I need to let go of the position, work harder to not get "caught" on the wrong side of a movement, and simply not fret over any such losses.Time to accept a 40% loss and move on.If at all possible, try to learn from my experience, before you are forced to learn it with your own money.

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