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I blew my account today!

  • #21
  • Edited 3:54pm Apr 11, 2018 3:42pm | Edited 3:54pm
Afgan84,

Hello. I understand your pain and frustration. You will get unhelpful replies to your question with many members here taking the opportunity to chastise you or promote themselves.

My opinion is that you have gone live too early. Trade demo until you are comfortable making your own decisions. You need to develop an understanding of your chosen chart/currency/index before you go live.

Leverage will kill you. Trade small. Scale in if you need to, but trade small. Your trades should be of a size that does not make you afraid or nervous when you can't watch the charts. That means that your potential loss is acceptable to you. This is important as you will take losses. You will only be successful once you learn to accept a loss.

Have a cut off point. Place your stop loss. If price gets there are takes you out, accept that you were wrong. You are now free to trade again instead of being stuck nursing a losing trade.

Good luck. Stay positive.
Indentify > Plan > Accept > Execute
  • #22
  • Apr 11, 2018 4:19pm Apr 11, 2018 4:19pm
Think positively.

The Great George Carlin had a joke for similar blow ups.
If you meet a sexy woman, tell her:

You blew my mind!
Now blow me!


I hope you have sense of humor left.
A drop would be just enough...
Maadik Hugiis. IQ 69.
  • #23
  • Apr 11, 2018 4:42pm Apr 11, 2018 4:42pm
If you meet a sexy woman, tell her: You blew my mind! Now blow me!

u made my day
  • #24
  • Apr 11, 2018 4:55pm Apr 11, 2018 4:55pm
Quoting syntaxfx
Hi afgan84, Sorry to see you get smashed like that. Unfortunately, all the systems salesmen try to make FX look easy - which you now know, it’s not. While you are rebuilding your capital, the advice the others have given you is right: 1) It’s hard work - if it was easy, everyone who ever opened an account would be rich 2) None of the stuff in the books will work for you - yes, you need to know it, but then you must develop your own method and test it properly. You need to know you can trust it. You can’t trust somebody else’s plan. 3) Are you clear...
Hey Syntaxfx,

Thank you so much for your time and i really appreaciate what you have writing here for me, it makes me motiveated to learn more and work more, that's why i like FF, i post my story on a page on FB and you can't belive what i got like answers:,2 types:

1/ those who are good in forex and they propose their recommondations , and i don't like that kind of people because they look only where to get money!

2/those who don't understand nothing in Forex and they told me always that Forex is only arnaque!!

And for what you told me is RIGHT: i have to developp my method, and i'm trying this but until now i don't know how to figur out that because i try to trad many plan at the same time, for exemple just yesterday, in the morning, i have opnening many positions with only 20 USD that i have left in my account , and i can make 65 usd yesterday (in the same day from this 20 us) that means + 225 % of profit in the same day!! i have maked that for Tow reaisons : i was lucky and i used hight size lot 0,2, and 0,30 ....But before i went to sleep yesterday i ddin't close all positions, same are in green and other are in red so i left them run until today in the morning, once i got up i found all in RED again then i started to open other position again to recouvre those loses but thing are against me again!! then all thing went wrong this time again, and i went back to the demo account!

And the big problem for me is i don'treally have a plan, i look everytime at forum and look for a good system to apply, sametime i found samething good but i don't follow to study it then next time i look for an other one.....and i just lose time doing this because i don't focus on one thing.

As you told me ,i have to work more in demo and learning more by myself until i can get good result in demo then start again in real account.

Sorry for my poor English
thank you.
  • #25
  • Apr 11, 2018 5:02pm Apr 11, 2018 5:02pm
Quoting afgan84
{quote} Hey Syntaxfx, Sorry for my poor English thank you.
Your English is Great
Indentify > Plan > Accept > Execute
  • #26
  • Apr 11, 2018 5:24pm Apr 11, 2018 5:24pm
afgan84 take a look at USD/TRY. It goes up amost every day. Be careful because it wicked high today and came back down. Go in with a .01 position and SL at the daily opening price. I have made over 20k pips from this pair last month and so far this month.

And take in what everyone else said.

Good luck
  • #27
  • Apr 11, 2018 5:48pm Apr 11, 2018 5:48pm
Quoting wizlon32
{quote} Your English is Great
thank you brother !
  • #28
  • Apr 11, 2018 5:53pm Apr 11, 2018 5:53pm
Quoting SuperTiger
afgan84 take a look at USD/TRY. It goes up amost every day. Be careful because it wicked high today and came back down. Go in with a .01 position and SL at the daily opening price. I have made over 20k pips from this pair last month and so far this month. And take in what everyone else said. Good luck
Don't go near USDTRY
Indentify > Plan > Accept > Execute
  • #29
  • Apr 11, 2018 6:25pm Apr 11, 2018 6:25pm
Quoting SuperTiger
afgan84 take a look at USD/TRY. It goes up amost every day. Be careful because it wicked high today and came back down. Go in with a .01 position and SL at the daily opening price. I have made over 20k pips from this pair last month and so far this month. And take in what everyone else said. Good luck
Thank you brother,i will study this pair.
  • #30
  • Apr 11, 2018 9:01pm Apr 11, 2018 9:01pm
Hi Afghan84

This sound like a broken record but here goes...

1) remove all time frames from your charts except Daily, weekly, monthly.
you will be surprised how fast that changes your trading for better

2) Focus on S/R levels on Daily charts
  • #31
  • Apr 12, 2018 1:45am Apr 12, 2018 1:45am
i blew many accounts, we learn from our mistakes and move on
  • #32
  • Apr 12, 2018 5:08am Apr 12, 2018 5:08am
You are gambling right now with those lot sizes. You don't know what you are doing enough to understand how likely you are enough to win a trade. You said it yourself, you couldn't even make it on demo, and that's easy street.

Something Poundtrader said it important "learn from our mistakes". Your mistake is thinking Forex is easy, and you are gambling with the lot sizes you are using. Don't make that mistake again.
  • #33
  • Apr 12, 2018 5:37am Apr 12, 2018 5:37am
Quoting samet
If you meet a sexy woman, tell her: You blew my mind! Now blow me! u made my day
Ha ha ha! What an example! Till now I am laughing!
  • #34
  • Apr 12, 2018 1:10pm Apr 12, 2018 1:10pm
Quoting charron
Hi Afghan84 This sound like a broken record but here goes... 1) remove all time frames from your charts except Daily, weekly, monthly. you will be surprised how fast that changes your trading for better 2) Focus on S/R levels on Daily charts
Do you mean that i should only trade Daily and weekly??
I think it needs a big account to trade high time frame ....
  • #35
  • Apr 12, 2018 2:18pm Apr 12, 2018 2:18pm
Quoting afgan84
{quote} i have used demo account for 1 month and sametime i blowed it after used hight lot size, and same time i got +100 % of the capital in 1 week, but i take big risk and i know that!
True to say you are living in the unrealistic world like many other newbies. With one month demo trading you are taking high lots. It's trading. It has some rules. The concept of risk management and money management didn't introduce just to fill the rule books. The first rule of trading is your expectation should match to your skills.
  • #36
  • Apr 12, 2018 7:58pm Apr 12, 2018 7:58pm
afgan, we have all heard the stories of becoming fabulously rich very quickly by trading forex. The truth is it takes hard work and patience. Look at the daily and weekly charts. Some of the most fun I have had with my co workers is to enter in on Monday and close on Friday. We agree to not touch our positions until Friday at 4:00 PM CST USA. Almost none of us wind up losing after a week. We may only see 2% gains, but usually we see gains. I do dabble with some USDTRY stuff and seem to do well with it (I did not today.) My point is look at the longer charts.. The market is a living and breathing entity that no one can tame. It can suck in your Dollars, Pounds, Euros, Liras, Pesos, etc. and shoot you out a negative balance and it seems to enjoy doing that more than shooting out profit. Hang in there.. There is lots of profit here.
  • #37
  • Apr 13, 2018 2:46am Apr 13, 2018 2:46am
Read everyone's trading journals on FF. May be able to learn something.
  • #38
  • Apr 13, 2018 5:25am Apr 13, 2018 5:25am
Quoting altzspec
Read everyone's trading journals on FF. May be able to learn something.
Definitely, it’s a good idea! I have also learned a lot by reading the trading journal on regular basis.
  • #39
  • Apr 14, 2018 7:50pm Apr 14, 2018 7:50pm
Hi afgan84,
The other folk have given you a lot of good advice.
1. No more trading with real money until you have a validated methodology - I agree with them. Right now you are helping me pay for my new car (thank you).
2. There is no magic to this - it’s simply a lot of hours of hard work. In the end, it’s about a few things:
i) Really understanding supply and demand and what drives it in FX.
ii) Understanding how the FX markets are actually structured
iii) Recognising on the chart in real time where other traders are making a mistake.
iv) Having a written plan that takes advantage of the first two items and risk management as I mentioned in my previous post.

If you keep trading without a tested and validated plan, you will donate all your money to me. That’s very kind of you, but I doubt that was why you started trading.

So, and I say this with kindness, do the work in the demo account or pay you’ll for my Tesla. Up to you...

Cheers,
syntaxfx.
SyntaxFX
  • #40
  • Apr 15, 2018 1:43am Apr 15, 2018 1:43am
Quoting afgan84
today i have taking 4 positions based on same recomondation that i got on telegram from a guys who is good in trading and as i saw him always using 3,5 lot
LOL noob
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