blew my account - Page 2
Page 2 of 733 FirstFirst 123 LastLast
Results 11 to 20 of 321

Thread: blew my account

  1. #11
    Signup for a demo account with any broker. Consider this as your live real money account and work seriously into trading attentively. Use just 0.1 Lot size consistently, however large your account size is. Remember a drop from drop matches the sea. The day you return 100% green transactions in 6 months continuous, consider yourself prepared to spend real money. Until then continue learning. Within my 18 months of trading journey this is just what I did, and now I exchange a real money account with no fear of loosing. In 0.1 the gains are modest, but then the reductions also will be small should they occur. Drive in forex.

  2. #12
    All fantastic advice here!!! As well is not overtrading Its a common error by new traders. Reason is that following a reduction that you wish to make back your money so that you have to maintain trading and the more your wrong the more you have to risk to break . When this happens you have to step back and use subject to not trade sometimes the best trade is no trade. As well once you have a series of poor trades then its time to take a step back and examine your trading egy on a demonion to work out some kinks.... This advice has saved my own account in the brink of extinction and pleased to say on the exact same live account for over a year now using some small profits monthly!!!

    Bottom line dont OVERTRADE!!!!

  3. #13
    Congratulations on coming back from the depths of hell!
    You prove this can be done.

    Quote Originally Posted by ;
    - Blewout 7 days for about $18K,, Kept picking up myself.

    Took 4 yrs. Of no profit,, I am profitable.

    Time table was like this.

    3 yrs negative trading.
    1 year even trading.
    2 years profitable.
    .

  4. #14
    Don't give up on forex. I myself began using a demo account. I used 2 practice accounts for months before going live. I tripled one practice account and created about 50% with the other practice within 2 months...I.E. it can be extremely lucrative. I eventually opened up a true live account with $5000 and followed my own pattern of trading. Within 2 months of going live I am up 39% of my money....ive also lost some transactions too.
    In my humble and unexperienced opinion, you have to just loe a pattern/trend for the day to capture some pips throughout the change of trend/shift....you won't win all of the time, but you may also win more than you lose. You also don't need 100 pip days to be successfull using forex. If you can capture 10 pips each from about 5 transactions (50 pips daily) (or however many transactions it takes you to capture 50 pips) you need to be golden; while still adjusting your components each trade over time. I mainly examine the hour graph to get the best trend changes outlook.
    Nothing is perfect and I anyone could be a fool to inform you any one specific system is perfect. You will eventually produce your own system.
    Hey. . .if it works it works. .
    Good fortune trading




    Quote Originally Posted by ;
    Hi Experts,

    I'm only 1 month old in forex. First I started using forex.com demonion, following
    seeing consistent profit, open a live mini account for $1000 after which $250.
    I have blown everything in 1 week. I hope you guys might have this type of experience. Please discuss how many of you come out from this scenario and how? .

    I'm rather confused now and don't know whether to keep forex or not.
    It s all depends on your replies. If there is no prosperous trader in
    1-2 years experience then I shall give up.

    Forex mad

  5. #15
    Quote Originally Posted by ;
    - Blewout 7 times for about $18K,, Kept picking myself up.

    Took 4 yrs. Of no profit,, I am profitable.

    Time table was similar to this.

    3 yrs adverse trading.
    1 year even trading.
    2 years profitable.

    Well past 10,000 live trades today, began with REFCO, then they stole my money. ( I recieved 40 percent back as BK settlement 2 decades after or so.)

    I trade with FXCM, CMS, FXSOL, EFX for benefits and variety and diversity following the Refco bankruptsy. I trade in a different account or 2 each day, average 15K a month profit Using 3 items.

    A Method- any will do. ( only have you )

    Dissapline- took years to give in! And admit my stubborness for wandering outside the rules!

    Determination- I would not let them beat me! Period.
    Man, 3 years adverse trading and you did not give up. That is a great testament to your desire to be successful.
    Congratulations on your success. .

  6. #16
    Maybe some ideas shared over few threads could provide you some insights.
    Https://www.forexsoutheast.asia/cryp...nnel-regr.html
    https://www.forexsoutheast.asia/cryp...ti-period.html

    One more idea which IMHO is a fantastic way to measure whether we're in sync with the market. Practice drawing S R lines using the EA and monitor your win ratio.

    All the best and take care.
    https://www.forexsoutheast.asia/atta...1270508148.mq4

  7. #17

  8. #18
    I've been investing in a live account for just over 1 year now. I started using a $1,000 account also. After my year, I've doubled my account, and I can honestly say my success is due to cash mangement. Trading at about $0.25 per pip, I'm not going to make millions, but it gives me the assurance I want to see a trade through, even if it goes at the start, and give it a chance to succeed.

    I have an acquaintance in the office who I have started in Forex. Although new to Forex, he has traded stocks for ages. When I told him the approx. Pip worth I utilize in my ranks, he asked me What is the purpose of even trading? You'll never earn any money. 1 year later, his lack of achievement has cost him his account along with the motivation to continue trading.

    Loe a system. Learn the system. Adhere to the system. Manage your account.

    -M

  9. #19
    You know folks, I dont believe what occurred to ForexMad is such a bad thing.
    If he had not dismissed atleast once or twice early in his trading, he might have gone
    to generate beaucoup $, only to lose it all, and then some more (believe me, it's too easy).
    The tough part is how emotionally draining it can be to reduce profits, beside seed capital.
    It is the understanding that all of the work you've done, including some really killer trades,
    only got washed off while you weren't paying attention, or perhaps while you watched in horror.
    Perhaps you could not even bear to look. In any event, it was just like a trusted friend simply f**ked you.

    However, remember, THE MARKET IS NOT YOUR FRIEND. Neither is your broker, should you exchange retail.
    The market is Moby Dick and you are Captain Ahab. Not even Ahab.
    As traders we're much more like Ishmael, the wandering sailor on the Pequod.

    Ahab is your broker and if you're able to survive his Bullsh*t, you still need to compete with this whale.

    There, I believe that sums it up.

    Therefore, this is gonna toughen ForexMad a small bit. This is a essential rite of passage.
    GotId shed you ass a few times. You men know this. ForexMad will know this soon enough also.

    Here's the one thing that will either make or break this would be trader:
    Do not give up, buddy. If you depart, you get nothing. You may still end up with nothing,
    butif you leave today, for sure you will get nothing except forced from this market.

    Do you wish to be a trader - specifically a Forex trader?? How awful??
    Do you wish to be a successful (profitable) trader? How bad do you wish to be one?
    Would you give up whatever you need to make it occur? That is not a reverse question.
    And that does not mean you'd need to do anything quite that intense.
    A lot of men and women find a fantastic balance between trading and other aspects of living and life.

    On the other hand, some people have literally lost everything in pursuit of this FX rainbow.
    Not only all their cash and stuff. Family, professions, even their freedom since the rougue trader element took them over.
    For most of these poor souls (and I mean poor -'cause they're broke now), they're probably beyond redemption.
    10 million dollars would not assist thembeacuse they can not accept winning.

    Do not be a market addict. Find a vice or addiction that's treatable.
    Start smoking or whacking off or something you can heal.
    Just don't allow the market eat you. It may if you permit it to.

    It is not worth it for the majority of us....For some of us, there is nothing else....
    Sadly, for the remaining masses, there is nothing else left.

  10. #20
    I want to revise and extend my previous comments so as not to offend anyone.
    (or perhaps to violate anyone I may have missed last time - I'm not sure).

    I think a lot of what wanted to impart was directed to ForexMad so as just to
    stress how important it's not to stop trying. If you truly need to do this that is.
    Everything takes time and it will fall into place in it's time, just give it time.

    Now for the rest, I think if somebody out there has lost large, such as large 5 or even 6 figures,
    made back it, lost it again, whatever... they embrace what I'm considering. The extremes.
    Even the part about smoking and whacking. Keep in mind, everything in moderation:--RRB-

    If a person has lost little, it might seem a bit much. Extreme in fact.
    And that is just it. If you've seen the extremes, then you'll recognize the signs.
    It is no doubt some veteran traders could read a post entitled, blew my account
    this far along only because they also have done so before and possess the pure curiousity into
    peek before, where they were.

    I'm no expert on anything, but I know about the extremes. Every once in a while,
    the market hands you a turd. What can you do ? That is how it goes.
    The day a trader stops permitting a little turd to turn into an avalanche of sh*t
    is they day he/she will move beyond, blew my account and in to I broke this month
    and further into, I left pips last month and into, was profitable 10 out of 12 months last year and so forth.

    By the way, I lose money also. I don't let it get me down. It is like paying bills.
    Some months they are higher than many others, especialy at the extremes (summer/winter).
    But I really don't bury my mind once the water bill arrives, I just pay it, even if I had a flow that month.
    On infrequent occasions, the bills in total exceed earnings. Then I'm stink *d off.
    But you know what I do? I pay the bills. I'm piss*d off and my bills are paid.

    Next month, I'll assess the pipes more carefully and turn a couple of lights away, maybe use candles;_) - not really...

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners.