HOW I BLEW MY FIRST FOREX ACCOUNT😟

My first experience blowing up an account occurred during the initial heat of brexit(British exit from the European Union).

Well, it started as a very nice day on March 6, 2019 with my early trades giving me about 100% increase on account size because of my high leverage and the massive moves on GBP pairs which I had heavy bets on. After closing the trade in good profit for the day, a senior trader I regard a lot gave me a call from London and told me that a trade on GBP that evening would be good because of the brexit deal that would be announced. I knew about brexit but nothing about what it’s output would be, he said “deal or no deal, GBP is going to #CRASH#. Taking his word, started the journey to the big blow up…

Guess what? It ended in tears. I had a sell stop order with higher lot than usual. The trade was executed because of the big moves and like fire works, shot up and that was it. Fear and greed stepped in, sanity was suspended, I entered a buy with even higher lots to recover faster. Immediately after the buy the market reversed on me😢. I lost a whole lot that day and I was really sad...

By the time I was done with the day, I was left with about $50 in my account.

That’s my story. I lost but then I learnt a lot of lessons which I will keep updating on my later articles. Ensure to follow me to be updated.