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Lost $4.2k in 1 week

  • #81
  • Feb 19, 2018 3:09am Feb 19, 2018 3:09am
Quoting wicktrader
Trying to recover your losses will depend on how much you have left in your account and what your new strategy will be going forward. You shouldn't use the same strategy if it resulted in such a loss. What system or strategy were you using?
Crikey wick, that was quick...
Come with me if you want to live....
  • #82
  • Feb 19, 2018 3:32am Feb 19, 2018 3:32am
I lost $30k and more than 3 years to learn forex trading
  • #83
  • Feb 19, 2018 3:57am Feb 19, 2018 3:57am
Learn money management, it is the key. There are many strategies which are really profitable, but if you dont know how to apply the money management, you will probably end up losing sooner or later. Trade like you are going to trade again for tomorrow. Learn to accept loses, they are part of trading.
  • #84
  • Feb 19, 2018 8:33am Feb 19, 2018 8:33am
Quoting imtav
Simple rule I learned that has dramatically changed the way I trade: If you're losing money, you're trading too much. Use this logic to consistently find ways to filter out the bad trades you are making. And keep repeating the process. A lot of people will reach the realization they have to filter out ALL their trades to stop losing money (most of us are just bad traders). But this doesn't mean they will. If you find yourself trying to trade more to recover losses, then you are gambling, pure and simple. No 'investing' happening. And remember, it's...
these are my losses and there are many many more also please please please some one help me i need atleast 20$ per day for now to earn nwo i dont think about recover i just want to earn 20$ a day for my living please some one help me any sort of
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  • #85
  • Feb 19, 2018 9:14am Feb 19, 2018 9:14am
Quoting samekhanok
{quote} these are my losses and there are many many more also please please please some one help me i need atleast 20$ per day for now to earn nwo i dont think about recover i just want to earn 20$ a day for my living please some one help me any sort of {image} {image}
You have lost 4200$, that is too much, I cried for 120$ , just week before week . also i had lost 100$ two months before , because of placing 1.0 lot both times unknowingly , both time on Gbp usd pair I did not had time yo cum immediately I was shocked after placing trade, how it happened , but for recovering you need at least $ 600 and 45 days time or in a month , if you have that much it can be done , but not on 20 or 50 pips method , 1000 pips method , earning is not difficult but problem is we dont know how to swim and jumps directly into the ocean no way to survive, I am not condemning you or your mistake I want to tell you how to swim in the ocean , because i am in the same sea , swimming regularly . I have seen many cyclones and big dangerous sharks , You need to know how to be safe rather than fighting with them. But trust me one day you will prove to be the greatest trader. Without fall no one rise here . So be fresh and start new day with new sunrise.
I will do every possible help you have to wait
Neither a Bro Nor a Pro I am I
  • #86
  • Feb 19, 2018 9:31am Feb 19, 2018 9:31am
Hello,

You dont lose, you learn.

Stop trading for a while then try to learn with micro account like 100 $.

Good luck with your journey.
Bottomless wonders spring from simple rules, which are repeated without end
  • #87
  • Feb 19, 2018 9:48am Feb 19, 2018 9:48am
Seems to me you are using funds you cannot afford to lose. Get a side job and get a steady source of income to fund your trading. Learn as you go using a micro account trading small lot sizes. Before you decide to continue trading forex, make sure you figure out what went wrong in the first place. Until you fully understand why you blew your account, do not try to trade. If you did not learn from your first mistake, it will only happen over and over again. So slow down, take a step back, revisit all your trades you took, why you took them, and what you can do to improve that trade. Also, start looking into risk management - something a lot of people overlook while trading. They can be very good at finding and entering trades, but because their risk management isn't good, even if their win percentage is high, they may not be profitable. You are trading UJ and gold, 2 pairs that are inversely correlated. So if UJ isn't going the way you intended it to, gold will most likely not be going in the direction you intended as well so your exposing yourself to double the risk. Stick with UJ, a more friendly pair, and trade gold once you mastered UJ. The forex journey is hard brother, I hope you can recover your losses and make a comeback!
  • #88
  • Feb 20, 2018 4:10pm Feb 20, 2018 4:10pm
well just try a very very good system on demo then when you have 7 wins out of 10 then go live
look in that picture you cannot lost with a move has that even i have a Disney chart or some idiot comment on that ????
Gbp/Aud

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  • #89
  • Feb 20, 2018 4:19pm Feb 20, 2018 4:19pm
Quoting samekhanok
{quote} these are my losses and there are many many more also please please please some one help me i need atleast 20$ per day for now to earn nwo i dont think about recover i just want to earn 20$ a day for my living please some one help me any sort of {image} {image}
You want to earn money? Let us get to work. EJ right mow is 132.357 sell it here Sl is 132.598 and tp is 133.083 So risk the 20 usd on that call. In several hours you will be a winner and we shall use the crystal ball method to get you back to breakeven.

Attached Image
  • #90
  • Feb 20, 2018 4:40pm Feb 20, 2018 4:40pm
Quoting HabibiForex
{quote} You want to earn money? Let us get to work. EJ right mow is 132.357 sell it here Sl is 132.598 and tp is 133.083 So risk the 20 usd on that call. In several hours you will be a winner and we shall use the crystal ball method to get you back to breakeven. {image}
Maybe if you change the style of the pictures your TE will look different than the "Cup and handle formation".
  • #91
  • Feb 20, 2018 4:41pm Feb 20, 2018 4:41pm
Quoting samekhanok
{quote} these are my losses and there are many many more also please please please some one help me i need atleast 20$ per day for now to earn nwo i dont think about recover i just want to earn 20$ a day for my living please some one help me any sort of {image} {image}
You want $20 a day? Then get a job!!!! because you have no idea how to trade.
Stop crying over your losses.

You came here for the truth and let me unveil it for you
  • #92
  • Feb 20, 2018 4:46pm Feb 20, 2018 4:46pm
With a job you could make 20$ a day, every day of the week where in Forex you are limited to 5 days only ... think about it!
  • #93
  • Feb 20, 2018 5:05pm Feb 20, 2018 5:05pm
Quoting samekhanok
Hello i lost some 4.2k$ in 1 week from last 9 months i am working daily 20 hours a day on please i need some help i need to recover my money please slowly but surely can some one please help me and give me some system from which i can earn consistent earning just few pips per day and then closed trading and then read and practice on demo please some one help me i am so much worry Thanks
Hi samekhanok,
i think You need more rest in day, because 80% of trading is psychology.
my suggestion is this for good risk (( yor balance divided into 50000 = your lot size )) for 1 order. good luck.
Never despair
  • #94
  • Feb 20, 2018 5:10pm Feb 20, 2018 5:10pm
Try looking at Davit's monthly pivots. The thread has many pages and many people are following it. Putting pressure on yourself isn't the way to go because eventually emotion will fail.
  • #95
  • Feb 20, 2018 5:52pm Feb 20, 2018 5:52pm
Well, I will help you out.
I looked at your first trade:
XAUUSD - spot gold on the 18th at 22h short

Why did you short? you were approaching a rejected level.
Volume was also bad.
And you kept it open till the 25th?

The 2nd trade, same thing
XAUUSD - spot gold on the 22th at 10:30h short

There is no evidence of a stop loss, or you were moving it against you the whole time
The 2nd trade is called doubling down, this is really bad trading.

You need a coach, or at least to understand basic principles of trading.
  • #96
  • Feb 20, 2018 6:39pm Feb 20, 2018 6:39pm
Quoting bruce_loco
Well, I will help you out. I looked at your first trade: XAUUSD - spot gold on the 18th at 22h short Why did you short? you were approaching a rejected level. Volume was also bad. And you kept it open till the 25th? The 2nd trade, same thing XAUUSD - spot gold on the 22th at 10:30h short There is no evidence of a stop loss, or you were moving it against you the whole time The 2nd trade is called doubling down, this is really bad trading. You need a coach, or at least to understand basic principles of trading.
Doubling down isn't necessarily bad.

What amazes me is how people with available leverage of 500:1 or some such nonsense DON'T have enormous balances. With that much available leverage you can pass on 90% of the trades everyone else has to fight and grind for and you'll still make a shit-ton of money. Literally; just a few great trades and you're all set. The rest of us have to squeeze out extra pips on half-assed trades just to get even close to similar returns.

It boggles my mind.
"The fun is in the hunt. Not the kill."
  • #97
  • Feb 20, 2018 6:48pm Feb 20, 2018 6:48pm
Hi samekhanok,

some days have passed and wonder how you are doing? Have you taken any advice here on the forum?

Cheers buddy!
  • #98
  • Feb 20, 2018 7:44pm Feb 20, 2018 7:44pm
Stop wasting your time posting in this thread.

The OP has already moved on to begging and pleading for some miracle cream in other threads. He clearly has no interest in improving his trading skills or learning anything in regards to risk management. In reality, recovering his losses at this juncture in his "trading career" would probably lead to bigger disasters in the future.
Pride always comes before destruction.... -Proverbs 16:18
  • #99
  • Feb 20, 2018 8:25pm Feb 20, 2018 8:25pm
Yeah, I notice recently for some pair we have more shadow few hours with unclear direction and the shadow hit SL quite often. It is quite tough for new comer even for experience trader, trust me. Breakout trader trap with fake breakout. No system can consistently help you unless you try to see the behaviour of the pair and justify with numbers like ATR/ADR or candle ratio shadow and body or with math (algo,fibo,vortex math). Study the market behaviour. No revenge in forex. once profit, just withdraw. It is good if you can withdraw daily and stop trading after withdraw. Seems like you are hard working that is your attitude, but hard working in real world is not equal to more dollar. Make sure with your trading strategy, control your money management (MM).
  • #100
  • Feb 20, 2018 8:40pm Feb 20, 2018 8:40pm
Quoting Redeflect
{quote} Doubling down isn't necessarily bad. What amazes me is how people with available leverage of 500:1 or some such nonsense DON'T have enormous balances. With that much available leverage you can pass on 90% of the trades everyone else has to fight and grind for and you'll still make a shit-ton of money. Literally; just a few great trades and you're all set. The rest of us have to squeeze out extra pips on half-assed trades just to get even close to similar returns. It boggles my mind.
Available leverage doesn't equal to actual effective leverage used.
It most certainty a double edge sword to go full in any time, with no money left for a plan B to execute. Home runs vs wipeouts?
See, OP posted above his losing trades....for example went heavily into US2000, but hardly paced himself for the volatility. And when plan doesn't work, And there was no free margin, only prayers left to resort. This time, as often, they were not working.
there is always, always another trade!!
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