its not leverage that wipes you out - leverage is your freind its lack of tradeable volatility the great thing with currencies is that once they start to trend - they continue - but if you get chopped up trying to get on the right side - you are going to find it hard to keep taking a postion that would ultimately make up the losses and bring you into profit its like a slow motion index - so the time it takes to get into a profitiable position is painful unless you are using OPM and/or really know how to trade