The Regret-My $200 forex lesson

Williams ORJI Realistic Urban

AN EXPERIENCE THAT TAUGHT ME A VALUABLE LESSONThere is a popular saying that "experience is the best teacher" but I have come to believe that some experiences are too expensive to be called teachers. My own experience was not in the classroom but at home. It was the day I lost all my savings to Forex trading.It all started one afternoon. I was on my cell phone, scrolling through t****k videos, when I saw how people were making money through the Forex market. I was like, Wow! "If others are making it, I can also make it too." I encouraged myself. As of that time, I had two hundred dollars, which is approximately three hundred thousand naira. I had this amount in my account. I downloaded the MetaTrader 5 mobile app and immediately created an account. I funded my whole balance into the Forex account.Before I could trade, I wanted to learn something about the Forex market, but I thought going through mentorship was a waste of time and money, a way the pro-traders use to exploit beginners. I decided to watch YouTube videos to see how market structure works and how to make an entry. I saw how pro-traders were making millions of dollars, like MambaFX - the richest Forex trader in the world. This triggered me to start Forex immediately.After watching several videos, I started trading that night. I set a lot size that was much higher so I could get more profit. I did not have any strategy for trading. All that was on my mind was the profit I was going to make. I did not know anything about risk management, lot sizes, or even how to control my emotions when a trade was going against my intention. All I knew was to click buy or sell with the hope that I would start becoming a profitable trader.In the first few days, I made a small profit by luck. Because most times I decided to keep it as a secret until the result would speak for me, I felt like a god, like I had discovered a secret that others were too slow to understand. I increased my lot size to 5.0 (five point zero). Then the market taught me the lesson I refused to learn from anyone else.Within a week, I had lost all the money to trading. Not by lending it to someone to pay back later, but it was all gone. I stared at the zero balance, feeling a mixture of regret and emptiness. I told some of my classmates and they told me, "Shai, you lost your whole savings on something you should have gone for mentorship for." I regretted it, but I later found out it was my fault for not calming down to study the strategies in the Forex market.My trading was based on feelings and the market does not reward feelings. The time I lost the trade, I cried bitterly. Learning from my mistakes was unbearable. The habit of not using stop-loss was one of the reasons my account suffered so much. I did not know that protecting your capital is more important than making a profit. Another mistake was my greed and poor money management, just like Jeffrey Benson always says it is a problem in the Forex market. My failure in the market taught me patience, discipline, and humility.In conclusion, blowing my Forex account was one of the most painful experiences of my life, but it was also one of the most important. I learned that success is not about how fast you start or how smart you are, it is about how well you prepared yourself. The Forex market humbled me. Today, I no longer see that failure as something to be ashamed of. I see the money I lost as the school fees I paid for financial discipline and as a foundation for future success.

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