Suffered loss in my forex trading account

I really hoped I could have read their e-book "10 mistakes to avoid and learn from forex trading," from Forex club Asia I could have averted the losses I incurred during my live trading.

I am very much guilty of vengeance trading. I get so mad and emotional when losing trades and try to double my bet on the other direction. I try so hard to get back what I lost that I am no longer in control of my trades. It's just pure vengeance and foolishness trying to catch the price action going against my first trade only to realize a few minutes that price action is going back in favor of my earlier trade, frustrating indeed. The more consecutive trades I lose the more I want to trade hoping to win back my former losses. I never knew that it would be more helpful to stop for a while to be able to get back to my senses and control my emotions realizing that not any day is a good day for trading.

I am also guilty of moving my stop loss. The very few times that my trade was stopped a few pips away from going back strong in my favor sometimes made me hope that it would always turn out that way, hence, I moved my stops. This proved damaging as the amount of loss got bigger and bigger until it's just becoming too painful not to close the position. It always pays for your account to live to trade another day.

Go ahead and become a member of Forex club Asia for free. The E-book is only one of the good forex resources you could find in the site.