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GlassOnion

What Was Your Greatest Loss in Trading ?

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As for me, I made my biggest loss in Forex trading was when i just started trading Forex. Funny enough, i made my biggest loss immediately after making my biggest profit. It was due to my attempt to take advantage of an immediate reversal of trend.

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As for me, I made my biggest loss in Forex trading was when i just started trading Forex. Funny enough, i made my biggest loss immediately after making my biggest profit. It was due to my attempt to take advantage of an immediate reversal of trend.

 

:)) I guess my health, as the belly started to grow eversince......:)

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Worst losses were shorting pharmaceuticals. Icos gave me a beating in 2003.

 

My best gains were from shorting pharmaceuticals. I shorted rigl at $21.75 on 11/30/2005 at 3:50pm and covered it the next morning at 9:50am at $8.50. Best trade of my life. Pure luck. I was in the trade for 30 minutes of market time.

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My biggest loss was time. Time spent looking at the wrong things, time spent trading without a plan or without real understanding of what was important, time wasted on indicators, etc. then time unlearning all the nonsense I had picked up.

 

The money comes back with interest, but you can't ever get that time back.

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Mine happened this year and was the classic noob mistake. It happened back in March when AAPL hit that 486 level. It did not fit any of my criteria whatsoever. It was just me getting suckered into the appearance of a potential "breakout" opportunity amidst all that David Einhorn-led "iPreferred" shares hoopla.

 

I bought about $11,000 worth of calls and suffice to say got reversed on big time. So again, buying something that did not fit my method's criteria was mistake No.1 ..... then came mistake No.2 ..... I averaged down on a big loser.

 

I rode the entire thing down to about $1,500 and finally gave up. Lost just over $20,000. Set me back tremendously.

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My biggest loss was time. Time spent looking at the wrong things, time spent trading without a plan or without real understanding of what was important, time wasted on indicators, etc. then time unlearning all the nonsense I had picked up.

 

The money comes back with interest, but you can't ever get that time back.

 

Very good point. Something everyone should make note of.

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I guess my biggest loss was my first forex trade. Brand new acct. I had just returned from a trip to Europe. I remember being impressed with how strong the Euro was against the USD.

I got home and went long eur/usd I didn't look at a chart. Actually, I had heard of charts but had never really seen one. But someone as smart as me didn't need charts and all that crap.

I margin called in about 3 hours, -$30K

 

I couldn't make this up. I should be too embarrassed to talk about it, but there it is.

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Beginner traders tend to add to losing trades or hold for too long, resulting to a bigger amount of money at risk. They do this in hopes of a trade reversal so they can get back their loss.

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11 hours ago, CrazyCzarina said:

Beginner traders tend to add to losing trades or hold for too long, resulting to a bigger amount of money at risk. They do this in hopes of a trade reversal so they can get back their loss.

Yes,l  did this with Abengoa. I lost thousands of dollars. " Catch a falling knife".  I have since forgot, and I don't want to think about it.

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On 7/10/2018 at 8:57 PM, CrazyCzarina said:

It is really sad to see that many people are losing money because of no proper knowledge and management of money in Forex.

Exactly. I have only been trading real money for about a week now but I didnt want to trade legit until I knew exactly what I was doing. I understand though how people get lost because of so many different strategies and stuff it can be overwhelming you know?

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