I'm a fool

I don't know why I do it though I seem to have a major problem when I make a trade and then it swings the wrong way and so I make more trades expecting it to swing the way I was originally anticipating, today I went short on the EUR/USD expecting it to drop after a big price rise that I wasn't at my computer for.

No sooner had I made the trade than the price began to rise, so when I next saw what I thought was the peak I went short with 10 lots thinking "excellent, this is going to make me some nice cash when it drops"... sure enough it kept climbing and I made the same mistake a couple of more times though only with single lots. Needless to say I'm well and truely in the red and have used up nearly all my margin.

It is slowly dropping towards my breakeven positions though it certainly isn't going as quick as I would like! 

Hopefully someday I will learn to think before trading! I'm just incredibly lucky that I can practice all this on a demo account without sending myself into bankruptcy.

Related

1. Definately a fluke
2. Think before trading
3. Going short wasn't a good idea
4. I have a long way to go
5. Latest progress plus more...

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