Yes - I did my first 1 mil trade - I actually lost the account today -- pretty stupid as I had almost made it to like 75% of the initial equity from 30% on the previous day.
A few major things to remeber and learn for future reference:
1. TREND FOLLOWING - well, not an easy job.. need to work more on a systematic approach and actually more testing before risking the equity.
2. GREED / LEVERAGE -- needless to say the position size was times bigger than my equity and also a major factor to the demise of this trade.
3. LEVERAGE / FLEXIBILITY --- this might actually be the most important point as I had several times seen a monster profit and wasn't unable to make myself to take profit.
Then on the other way I was unable to cut loss where I would normally would.
4. PSYCHOLOGICALLY - I was a failure as I wasn't able to act right and in timely manner to adjust position size and to take advantage of the intraday directional movements.
5. DAILY RANGE -- here was a major break today as I actually realised the use of the range. It is still a new part of the intraday analytic tools.
Well wasn't a good experience at all.
However it was something I felt unevitable -- just a violent and painful reminder of the market forces and the need to adjust one's trading to the market.
Street smarts: "Lose your opinion - not your money"
I was so eager to earn a great profit with a huge position -- and I had numerous possible exits but blew them all -- can't think of a nice rationale out of this - I just think I had a too good time and it was due to get back on me and show me that there are NO EASY WAYS in life.