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-   -   Ouch! Trader carrying heavy losses (https://www.forexfactory.com/showthread.php?t=436150)

card Jul 5, 2013 5:59pm | Post# 1

Ouch! Trader carrying heavy losses
 
http://www.forexfactory.com/amirnadiv

Take a look at his third account that is at the bottom of the page. 20% loss in 1 week on a large account. $250,000+ initial deposit. And he's doubling down. And look at how much leverage he's using.

This is why traders fail! They take on a position that is too big and after a sudden move against them, the pain is too much so they double down and hold on, hoping for a reversal. And, the reversal never comes. And they keep adding to their position. He's short big size in USD/JPY and for all we know, it won't ever come back down to his entry price. Or, it might go to 110 before reversing.

If you can't take a big loss, then don't trade the big size. He should've taken that loss at 98.00 instead. Would have been far cheaper.

Laundry Jul 5, 2013 6:29pm | Post# 2

Wow. This is why you demo for a few months before going live... and when going live with a small account. Looks like he is going through the noob phase we all go through when we start trading.

card Jul 5, 2013 6:45pm | Post# 3

Wow. This is why you demo for a few months before going live... and when going live with a small account. Looks like he is going through the noob phase we all go through when we start trading.
yeah, the noob phase except with a quarter of a million dollars.

jhehe Jul 5, 2013 11:39pm | Post# 4

yikes! is he trading or is he gambling? a lower leverage could easily protected some of his funds by being stopped out earlier, sigh, the dangers of high leverage.

testing Jul 6, 2013 12:15am | Post# 5

So from what I see, he took about a 100 trades on the 6th of July, 2013? Why...? What made him take those many trades?

Davit Jul 6, 2013 1:02am | Post# 6

Like most new traders he is unable to take a loss early instead allowing it to mushroom beyond comprehension
One of his trades he is -62k in red UJ sell and still going.By 103 his account will get busted.

This is why one should work on trade psychology and money management before even placing an order.

WhiteHorse Jul 6, 2013 1:32am | Post# 7

1 Attachment(s)
dont worry he will suck his lost money from rest of the world soon
Click to Enlarge

Name: 2013-07-06_11-01_amirnadiv's Profile @ Forex.jpg
Size: 61 KB

numbnuts Jul 6, 2013 2:20am | Post# 8

Nice to see americas foreign aid dollars being put to good use.

jen101 Jul 6, 2013 7:43am | Post# 9

Wow. This is why you demo for a few months before going live... and when going live with a small account. Looks like he is going through the noob phase we all go through when we start trading.
Really?!? Regardless of the sum, he's 1700+ pips down on some trades! Clearly not a believer of stop losses. And to have all that open over the weekend.

You guys are priceless. I've seen some laughable stuff on myfxbook but none compared to this. And there's me with my little $500 DEMO account...

Vitez Jul 6, 2013 6:44pm | Post# 10

dont worry he will suck his lost money from rest of the world soon {image}
Israel is the only country not enslaved by the devil...don't be fooled by the illuminati..


As for the guy he might be rich and laughing at this thread

EmeraldEyes Jul 6, 2013 9:39pm | Post# 11

He's on the right side of the fundies on a lot of those negative unrealized profit trades, accumulating carry trade on most if not all.

Good luck to him and his margin. Its only a loss when its 'realized'!

Kanzler Jul 7, 2013 2:41am | Post# 12

He's on the right side of the fundies on a lot of those negative unrealized profit trades, accumulating carry trade on most if not all. Good luck to him and his margin. Its only a loss when its 'realized'!

Ken A Jul 7, 2013 5:36am | Post# 13

1 Attachment(s)
He is definitely not a scalper but yes the draw down is too extreme even for positioning.

Click to Enlarge

Name: Capture.JPG
Size: 143 KB

jen101 Jul 8, 2013 6:00am | Post# 14

He's on the right side of the fundies on a lot of those negative unrealized profit trades, accumulating carry trade on most if not all. Good luck to him and his margin. Its only a loss when its 'realized'!
Eh? So how does chasing your losses AND hedging work then?

EmeraldEyes Jul 8, 2013 7:24am | Post# 15

That's why I said good luck, there's still a chance

hayseed Jul 8, 2013 8:28am | Post# 16

multiple countertrend small lot trades with no stoploss..... sounds familiar....

most countertrend ea's do not space out the additional trades properly.... they are focused more on the prospects/hope of reversion-to-mean and less on the time it will require.... this leads them to make too many too early trades.....h

EmeraldEyes Jul 8, 2013 8:38am | Post# 17

Is that why there's such an odd lot amount?

O man, those huge SPY shorts are scary!

mmaker Jul 8, 2013 8:49am | Post# 18

Here are the individual links to each account,
http://www.forexfactory.com/amirnadiv#02
http://www.forexfactory.com/amirnadiv#08
http://www.forexfactory.com/amirnadiv#68

act333 Jul 8, 2013 8:59am | Post# 19

His choice of broker is quite bad too IMHO.

jen101 Jul 8, 2013 9:01am | Post# 20

I wonder what the $ are for the first 2 accounts, being -25% and -11% respectively. For all we know they could be 250k accounts too


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