1000 to 150 in 2 weeks.. | Forex Factory

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1000 to 150 in 2 weeks..

  • #1
  • First Post: Jul 19, 2007 3:14pm Jul 19, 2007 3:14pm
help me! i need advise on my problem at the moment..i open 1000 account, and after 2 weeks, now i only hav 150..and im stuck at the moment, giv me advise on wut i shld do...thx. giv me adivise on the techniques that i shld use now to repair my account...thx again!
  • #2
  • Jul 19, 2007 3:41pm Jul 19, 2007 3:41pm
Seems that blowing FX accounts in the quickest way as possible is a popular sport in Forex.
Losing 85% of your account in 2 weeks and asking how to make 600%+ to recover your loses is a pointless question.
Stop placing trades, take your time in studies and develop yourself(read the noob section and demo) and take the remaining 150 to practice before you are going to put more money
  • #3
  • Jul 19, 2007 3:49pm Jul 19, 2007 3:49pm
When you find your self sinking...................STOP DIGGING THE HOLE

Do not get mad at the market and try to get it back right now. Welcome to Forex, now the real learning starts..........

Take Care
Rsq955
  • #4
  • Jul 19, 2007 4:05pm Jul 19, 2007 4:05pm
One of the most important things you MUST learn is Money Management
Trade what you see, not what you think.
  • #5
  • Jul 19, 2007 4:10pm Jul 19, 2007 4:10pm
Just a point of reference for you but I blew out about 90% of my account when I first started in a couple of weeks. It took me over three and a half months to get about 70% back. Good luck, you'll need it.
  • #6
  • Jul 19, 2007 4:50pm Jul 19, 2007 4:50pm
I'm sorry to hear that.

Unless you lost about 100 trades in a row, your numbers tell me that you weren't using any Money Management.

The first thing you should do is read up on MM.
This is a good place to start. (as well as the other stickies in the Beginner forum)
http://www.forexfactory.com/showthread.php?t=3690

Don't trade live anymore. Go back to demo and trade using proper Money Management and test out your system there.

Good luck

Tom
  • #7
  • Jul 19, 2007 6:20pm Jul 19, 2007 6:20pm
This is a perfect example of not doing money management.

And no, this is not me trying to be judgemental, just saying it is obvious.

My guess is the greed got ahold of you.

I have found that small consistant gains with the occasional homerun is how this is done.

Unfortunately, your story isn't rare. Forex is about not allowing yourself to lose your money. The opposite of what you would think.

If you constantly aim for massive gains on a small account, while playing large amounts, you are sure to lose.

I think you can get back to 1000 USD, but I am guessing it is going to take a very, very, long time.

At 1000 dollars, you shouldn't have been playing for more than 1 dollar a pip, and depending on how big of a stop loss you needed, that's probably too much.

Best of luck.
  • #8
  • Jul 19, 2007 7:14pm Jul 19, 2007 7:14pm

thx dude! greedy is my biggest enemy! i learned my lesson. guys, pls give me tips/techniques on how to repair my account..i really need ur ideas and comments so that i can improve my trading method. what will u do if u encounter the same problem? thx..

  • #9
  • Jul 19, 2007 7:23pm Jul 19, 2007 7:23pm
Quoting precursor

thx dude! greedy is my biggest enemy! i learned my lesson. guys, pls give me tips/techniques on how to repair my account..i really need ur ideas and comments so that i can improve my trading method. what will u do if u encounter the same problem? thx..

Here is a tip:

Stop trading a live account and get yourself educated.

But you'll probably just ignore the tip just like you ignored all the advise given to you above. Unfortunately what you should do is not what you want to hear...
Stubbornly persistent
  • #10
  • Jul 19, 2007 7:24pm Jul 19, 2007 7:24pm
Quoting precursor

thx dude! greedy is my biggest enemy! i learned my lesson. guys, pls give me tips/techniques on how to repair my account..i really need ur ideas and comments so that i can improve my trading method. what will u do if u encounter the same problem? thx..

What I would do
1) Stop trading.
2) Open a nanolots account using the balance. Don't trade yet.
3) Start studying more and go on demo trading till I can make profit.
  • #11
  • Jul 19, 2007 7:54pm Jul 19, 2007 7:54pm
Quoting sergiu
Here is a tip:

Stop trading a live account and get yourself educated.

But you'll probably just ignore the tip just like you ignored all the advise given to you above. Unfortunately what you should do is not what you want to hear...
Im not blind dude! nway....thx!
  • #12
  • Jul 19, 2007 10:40pm Jul 19, 2007 10:40pm
Quoting sergiu
Here is a tip:

Stop trading a live account and get yourself educated.
Twice !
  • #13
  • Jul 19, 2007 10:47pm Jul 19, 2007 10:47pm
Quoting precursor
Im not blind dude! nway....thx!
Well... you are either blind or SOL. Either way, what you are doing presently is not working. Step back and evaluate before further exposure.
  • #14
  • Jul 19, 2007 11:08pm Jul 19, 2007 11:08pm
Blown my account twice...learnt a good lesson, minimise leverage. $1000 traded on leverage...ALWAYS creates a contempt for greed. If u trade 1k dun dream of making it a 100k in a blink, if you trade 10k, quit dreaming of 1M

If you make it into 1050 in one month, u have a return rate of 5% which is fairly good R:R...you blew it coz u were aiming for the sky. That simple.

Get a grip, throw away any excel sheet that shows you a 5% a day return ratio with 1k and where it could get you in 1 month...
  • #15
  • Jul 20, 2007 2:11am Jul 20, 2007 2:11am
so threadstarter .. what are you doing now ?
  • #16
  • Jul 20, 2007 2:44am Jul 20, 2007 2:44am
as for now, im trying my best to repair my account, using 0.10 lot slowly to repair..this is the challenge that i need to take and im glad, bcoz this a great lesson that i can use in order to be a better trader. its better to defeat now, coz i believe this is the price that i need to pay to be a better trader in the future. i learned alot now..and im hepi! this is just a beginning for a better day tomorrow. thx guys!
  • #17
  • Jul 20, 2007 2:49am Jul 20, 2007 2:49am
Quoting precursor
as for now, im trying my best to repair my account, using 0.10 lot slowly to repair..this is the challenge that i need to take and im glad, bcoz this a great lesson that i can use in order to be a better trader. its better to defeat now, coz i believe this is the price that i need to pay to be a better trader in the future. i learned alot now..and im hepi! this is just a beginning for a better day tomorrow. thx guys!
You'd definitely rather use demo account before going live again !!!
  • #18
  • Jul 20, 2007 3:12am Jul 20, 2007 3:12am
Definitely you are not hearing advices. Money management isnt all you need if you dont have solid trading strategies and methodologies. I will tell you what is your big problem: "Impatience to make money"
  • #19
  • Jul 20, 2007 6:23am Jul 20, 2007 6:23am
A miracle is not going to happen so it's better to start learning from your mistakes
Trade what you see, not what you think.
  • #20
  • Jul 20, 2007 6:44am Jul 20, 2007 6:44am
Quoting karmostaji
A miracle is not going to happen so it's better to start learning from your mistakes
thx alot my friend. im improving myself now. i need this kind of support. thx again..
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