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How much did you start trading with?

  • #1
  • First Post: Apr 17, 2020 3:04pm Apr 17, 2020 3:04pm
Hey Guys,

Just wanted to ask How much did you guys start your first live trading account with? If you blew your account, how many times did you do this and how much was your next account?
  • #2
  • Apr 17, 2020 7:48pm Apr 17, 2020 7:48pm
Quoting akamrp
Hey Guys, Just wanted to ask How much did you guys start your first live trading account with? If you blew your account, how many times did you do this and how much was your next account?
Hi Akamrp

Talking to a broker mate of mine, the average new trader blows a few accounts averaging around $3,000 in total then quits.
Many come back a year later.
The old saying they should have stayed with demo however most must enjoy the pain of losing. Strange.

Cheers
Trading thin liquidity at the boundary of the charts
  • #3
  • Apr 17, 2020 7:54pm Apr 17, 2020 7:54pm
5K
Live today like theres no tomorrow-- Prioritize like you will die today
  • #4
  • Apr 17, 2020 7:55pm Apr 17, 2020 7:55pm
Quoting akamrp
Hey Guys, Just wanted to ask How much did you guys start your first live trading account with? If you blew your account, how many times did you do this and how much was your next account?
In those bucket shop days prior online trading, the smallest lot size is 1lot with 5pips spread for usddem. Minimum account deposit is usd10k(if I remember correctly).
Know what you trade
  • #5
  • Apr 17, 2020 9:03pm Apr 17, 2020 9:03pm
My first account was 30+ years ago. WoW time flies lol
It was 3k with one of the major stock brokers in Vancouver BC.
Made 6k profit in my very first week of trading live.

Thought I was the king of Howe St. LOL Alot of money from a
20 something yr old... But then i had been paper trading since i Was
mmm 14 yrs old or so.

And Ya I subsequently lost every penny plus owed the broker money.
that was a downpayment on a townhouse back then easily.
Alot for a kid to lose back then. But i believe our greatest learning
experiences come from adversity.

Pigs goto slaughter was a lesson I had to learn and learn again.

Went on in latter years to being profitable trading stocks and cutting
my teeth on this whole new thing called the internet and online charts !!!

Then Stock screening software tC2000 wowsers ...thats when things got
serious and daytrading became my passion.

Then I discovered Forex........

Forex I blew my first 2 accounts in mid 2000s...
Last blown account i traded from $200 to 20k in 2 weeks.
Learned abit from that one too you might say.

Many scars..... many lessons learned the hard way before things
really clicked, (thank you George)

Market structure....market psychology and targets targets targets

Fear and Greed the basis of all human emotions... Conquer them
conquer your emotions conquer trading.....

And never ever forget PIGS GOTO SLAUGHTER.
PIGS BLOW ACCOUNTS.
DONT BE A PIG.


Cheers
Blue
Master your Mind,,,Master the Market
  • #6
  • Apr 17, 2020 9:15pm Apr 17, 2020 9:15pm
Quoting bluesteele
My first account was 30+ years ago. WoW time flies lol It was 3k with one of the major stock brokers in Vancouver BC. Made 6k profit in my very first week of trading live. Thought I was the king of Howe St. LOL Alot of money from a 20 something yr old... But then i had been paper trading since i Was mmm 14 yrs old or so. And Ya I subsequently lost every penny plus owed the broker money. that was a downpayment on a townhouse back then easily. Alot for a kid to lose back then. But i believe our greatest learning experiences come from adversity. Pigs...


Market structure....market psychology and targets targets targets ..... exactly!

No S and R, no S and D no Cot Report.. simply as Kevin says, Market structure with its inherent psychology, and targets . it repeats continuously, all pairs all timeframes.

Great post
  • #7
  • Apr 17, 2020 9:21pm Apr 17, 2020 9:21pm
Quoting bluesteele
My first account was 30+ years ago. WoW time flies lol It was 3k with one of the major stock brokers in Vancouver BC. Made 6k profit in my very first week of trading live. Thought I was the king of Howe St. LOL Alot of money from a 20 something yr old... But then i had been paper trading since i Was mmm 14 yrs old or so. And Ya I subsequently lost every penny plus owed the broker money. that was a downpayment on a townhouse back then easily. Alot for a kid to lose back then. But i believe our greatest learning experiences come from adversity. Pigs...
wow that's quite a journey.
  • #8
  • Apr 17, 2020 9:49pm Apr 17, 2020 9:49pm
Quoting bluesteele
It was 3k with one of the major stock brokers in Vancouver BC. Made 6k profit in my very first week of trading live. Thought I was the king of Howe St. LOL.......

Last blown account i traded from $200 to 20k in 2 weeks. Learned abit from that one too you might say. Many scars..... many lessons learned the hard way before things really clicked
That's a consistent streak at getting rich quick. Who doesn't? Lol

Quoting moodybot
Great post
Not just great, it's real.

Quoting bluesteele
Many scars..... many lessons learned the hard way before things really clicked, (thank you George)

Market structure....market psychology and targets targets targets Fear and Greed the basis of all human emotions... Conquer them conquer your emotions conquer trading.....

And never ever forget PIGS GOTO SLAUGHTER. PIGS BLOW ACCOUNTS. DONT BE A PIG. Cheers Blue
Lesson from my scars,

If I can't objectively quantify it, FARK IT.

Fool me once shame on you, fool me twice I'm an idiot. Lol
Know what you trade
  • #9
  • Apr 17, 2020 10:05pm Apr 17, 2020 10:05pm
Quoting BWilliam
{quote} That's a consistent streak at getting rich quick. Who doesn't? Lol {quote} Not just great, it's real. {quote} Lesson from my scars, If I can't objectively quantify it, FARK IT. Fool me once shame on you, fool me twice I'm an idiot. Lol
  • #10
  • Apr 17, 2020 10:16pm Apr 17, 2020 10:16pm
100% Agree

Attached Image
Empty your mind and let the market guide you
  • #11
  • Apr 18, 2020 2:42am Apr 18, 2020 2:42am
Quoting bluesteele
My first account was 30+ years ago. WoW time flies lol It was 3k with one of the major stock brokers in Vancouver BC. Made 6k profit in my very first week of trading live. Thought I was the king of Howe St. LOL Alot of money from a 20 something yr old... But then i had been paper trading since i Was mmm 14 yrs old or so. And Ya I subsequently lost every penny plus owed the broker money. that was a downpayment on a townhouse back then easily. Alot for a kid to lose back then. But i believe our greatest learning experiences come from adversity. Pigs...
Great post bluesteele
  • #12
  • Apr 18, 2020 4:10am Apr 18, 2020 4:10am
Quoting SunnyCoast
100% Agree {image}
Fool me once shame on you....Fool me twice shame on me....lol...The original fraze....
Insanityoing same ting over expecting different results..Einstein
  • #13
  • Apr 18, 2020 10:58am Apr 18, 2020 10:58am
Quoting bluesteele
My first account was 30+ years ago. WoW time flies lol It was 3k with one of the major stock brokers in Vancouver BC. Made 6k profit in my very first week of trading live. Thought I was the king of Howe St. LOL Alot of money from a 20 something yr old... But then i had been paper trading since i Was mmm 14 yrs old or so. And Ya I subsequently lost every penny plus owed the broker money. that was a downpayment on a townhouse back then easily. Alot for a kid to lose back then. But i believe our greatest learning experiences come from adversity. Pigs...

Wow, time really flies if you have been doing this for 30+ years. Your still around so you must be doing something right lol

How did you get money again after you blew you account? Did you have savings or was you working?

Do you prefer forex over stocks and are you still trading stocks right now?

also, $200 dollars to 20k in 2 weeks??? How did you manage that, that sounds crazy lol 100x in 2 weeks
  • #14
  • Apr 18, 2020 11:00am Apr 18, 2020 11:00am
Quoting RickM
{quote} Hi Akamrp Talking to a broker mate of mine, the average new trader blows a few accounts averaging around $3,000 in total then quits. Many come back a year later. The old saying they should have stayed with demo however most must enjoy the pain of losing. Strange. Cheers
The number of quitters must be huge. Do the people that come back quit again when they blow another account?
  • #15
  • Apr 18, 2020 4:00pm Apr 18, 2020 4:00pm
$100 was my first ever account., Blowed 8 accounts in total probably around $1700.
  • #16
  • Apr 18, 2020 4:12pm Apr 18, 2020 4:12pm
Started few years ago with $500 and that went up in flames
This is quite a few times eventually i think i lost maybe $5k through this whole process
The grind never stops
  • #17
  • Apr 18, 2020 5:19pm Apr 18, 2020 5:19pm
Quoting akamrp
{quote} The number of quitters must be huge. Do the people that come back quit again when they blow another account?
Pretty much works like this -
Attached Image (click to enlarge)
Click to Enlarge Name: ff in.png Size: 354 KB
Trading thin liquidity at the boundary of the charts
  • #18
  • Apr 18, 2020 8:57pm Apr 18, 2020 8:57pm
Am starting with $10 tomorrow fx. Is it too little to grow?
  • #19
  • Apr 19, 2020 3:57am Apr 19, 2020 3:57am
Quoting Blaxst3r
$100 was my first ever account., Blowed 8 accounts in total probably around $1700.
Thats quite a lot of accounts blown lol, but not much in total I guess, What would you say caused you to go through so many accounts?
  • #20
  • Apr 19, 2020 4:00am Apr 19, 2020 4:00am
Quoting LewisTheguy
Am starting with $10 tomorrow fx. Is it too little to grow?

Depends what you goals are and what you want to grow your account into, It will be a slow grow though if your starting with 10$.

I am no pro but I would say start with a demo account and save your 10$
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