Please help, 40% drawdown | Forex Factory

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Please help, 40% drawdown

  • #1
  • First Post: Mar 26, 2025 7:59pm Mar 26, 2025 7:59pm
Hello. All of you guys are geniuses to make trading work. I have developed an appreciation for what those of you who are successful can do. I feel so stupid.
Please help. I have a 40% drawdown and don't know what I'm doing wrong. I trade price action on the one-minute charts.
I tried using an atr stop loss and an atr trailing stop loss, take profit, high risk-to-reward ratio targets, and low position sizes, and I ended up losing countless small trades because the stop loss kept getting hit no matter how I adjusted the risk-to-reward ratio. I then tried using an EA that limits daily drawdowns instead of a stop loss or trailing stop loss. That worked, but because I was no longer using a take profit, I felt very greedy and wanted it to keep going. It was at a decent profit, and then I lost money to that trade. Then I became depressed and exited all risk management and traded impulsively, and now I have a 40% drawdown. I have a screenshot of my account. What should I focus on to try and improve so I never have such a significant drawdown again? How do I prevent myself from completely blowing this account? Many thanks. Hugs.
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  • #2
  • Mar 26, 2025 8:25pm Mar 26, 2025 8:25pm
Quoting PianistMat
Hello. All of you guys are geniuses to make trading work. I have developed an appreciation for what those of you who are successful can do. I feel so stupid. Please help. I have a 40% drawdown and don't know what I'm doing wrong. I trade price action on the one-minute charts. I tried using an atr stop loss and an atr trailing stop loss, take profit, high risk-to-reward ratio targets, and low position sizes, and I ended up losing countless small trades because the stop loss kept getting hit no matter how I adjusted the risk-to-reward ratio. I then...
I didn't think I'd want to do it again after 12 minutes.
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Inserted Video


Inserted Video
Theory of Everything is Liquidity...https://www.youtube.com/@FxArt.Trader
  • #3
  • Mar 26, 2025 8:50pm Mar 26, 2025 8:50pm
Dear friend, please do not open another trade.
You need to spend at least 2-3 months analyzing your mistakes to identify the flaws in your trading system.
If you continue trading without addressing these issues, you will incur even more losses.
Your explanation about your trading system is unclear to me, at least. It would be helpful if you could provide screenshots and more detailed information so others can point out the mistakes they observe.
Every wrong trade you've made needs to be reviewed one by one to identify the problems in your system.
Theory of Everything is Liquidity...https://www.youtube.com/@FxArt.Trader
  • #4
  • Mar 26, 2025 8:54pm Mar 26, 2025 8:54pm
Quoting PianistMat
I have a 40% drawdown and don't know what I'm doing wrong.
I don't want to seem cruel, but by your own statement, you don't know what you are doing. You don't know enough to ask a trading question. I have the following suggestions: 1. withdraw the remaining 60% from your trading account and deposit it in your bank account. 2. locate the Technical Analysis Fallacy thread on FF (the thread moderator, fti, is no longer on FF so there will be no one to answer questions). Read the first 250 pages of that thread. Take copious notes. Then, reread the same 250 pages while updating your notes from what you learn or relearn in that second reading. 3. Study what you read and learned in step 2 for 6 to 12 months using a demo account. 4. After doing steps 1-3, make an honest assessment of your trading skills and decide if you trust yourself to risk the 60% in your bank account, which by the way is probably worth 61%, but that is better than having zero in the next few days, should you continue on the path you are on right now. Good luck.
  • #5
  • Mar 26, 2025 9:24pm Mar 26, 2025 9:24pm
Quoting GEfx
{quote} I don't want to seem cruel, but by your own statement, you don't know what you are doing. You don't know enough to ask a trading question. I have the following suggestions: 1. withdraw the remaining 60% from your trading account and deposit it in your bank account. 2. locate the Technical Analysis Fallacy thread on FF (the thread moderator, fti, is no longer on FF so there will be no one to answer questions). Read the first 250 pages of that thread. Take copious notes. Then, reread the same 250 pages while updating your notes from what you...
You have summed it up correctly, I would like to emphasise on trying your trading style on demo and once you are sure you do have a winning strategy I suggest you start with 5-10% of the intended capital, test your strategy on this real account for at least 3 months and if you are comfortable enough, you may start with your desired capital.

I must add, almost every retail trader has blown one or more account (in my case many accounts) before becoming a successful trader, you need to learn and adapt quickly as a winning strategy today might bit be the same 2 years later
  • #6
  • Mar 26, 2025 11:28pm Mar 26, 2025 11:28pm
you just need to learn trading first to become a trader, and only after this trade again. sounds simple and it is, but needs patience.

and you are extrem lucky:
- you started with very small amount , so you lost small amount only
- you lost on beginning! this big luck not all have!!! nothing is more bad than winning on beginning and dont see it was by luck , increase amounts and deposits and then loose big.

so you are in a very good position. stop trading, learn it.. and than do it again if you still want to after you know what it means to be a trader (all positive and negative points what it means and what to do to get where you want to be). until this do simple use etf index longterm investing and invest monthly splitted more and more or simple take an other job for the time trading..... all should bring much more win against trading with big luck needed (trading vs gambling).

winning in trading is also by knowing when to stop trading and do other things first before come back to trading ( or stay away because you different ways...).
  • #7
  • Mar 27, 2025 4:23pm Mar 27, 2025 4:23pm
Quoting PianistMat
Hello. All of you guys are geniuses to make trading work. I have developed an appreciation for what those of you who are successful can do. I feel so stupid. Please help. I have a 40% drawdown and don't know what I'm doing wrong. I trade price action on the one-minute charts. I tried using an atr stop loss and an atr trailing stop loss, take profit, high risk-to-reward ratio targets, and low position sizes, and I ended up losing countless small trades because the stop loss kept getting hit no matter how I adjusted the risk-to-reward ratio. I then...
1 min chart is for pros, start with higher tfs...
People don't plan to lose. They lose because they don't plan.
  • #8
  • Mar 27, 2025 10:47pm Mar 27, 2025 10:47pm
I am also a losing trader for a long period of time.It is not very helpful, but I am reflecting on it.
I'm sloppy with my trade records and can't keep them properly!
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  • #9
  • Mar 27, 2025 11:50pm Mar 27, 2025 11:50pm
Quoting PianistMat
Hello. All of you guys are geniuses to make trading work. I have developed an appreciation for what those of you who are successful can do. I feel so stupid. Please help. I have a 40% drawdown and don't know what I'm doing wrong. I trade price action on the one-minute charts. I tried using an atr stop loss and an atr trailing stop loss, take profit, high risk-to-reward ratio targets, and low position sizes, and I ended up losing countless small trades because the stop loss kept getting hit no matter how I adjusted the risk-to-reward ratio. I then...
You just have to be patient while you are on losing streak just stop when I loss continuously for 2 times just increase your position size and decrease your R:R- 1:2, 1:3 trail your stop loss
  • #10
  • Mar 28, 2025 8:11am Mar 28, 2025 8:11am
Quoting GEfx
I have the following suggestions: 1. withdraw the remaining 60% from your trading account and deposit it in your bank account.

That's my absolute top, #1 suggestion, too.

I have three others, too.

2. STOP trying to learn to trade from online "information".

3. Read a book called "Profitabiity and Systematic Trading" by Michael Harris.

4. Read a book called "Trade Your Way to Financial Freedom" by Van Tharp (not his other, later books).

Do nothing else until you've done those four things.

Just my suggestions. Good luck!
Amelia
  • #11
  • Mar 28, 2025 5:40pm Mar 28, 2025 5:40pm
Thankyou for your feedback, I am taking it all in, writing notes and thinking deeply about it all. I will give a proper response later once I've reflected more.
  • #12
  • Mar 29, 2025 3:39am Mar 29, 2025 3:39am
Quoting PianistMat
Thankyou for your feedback, I am taking it all in, writing notes and thinking deeply about it all. I will give a proper response later once I've reflected more.
…while you are reflecting..,
briefly..,
nobody can help you.., do not want to hurt anyone
trading is a self-taught “business”
you are the only person to be responsible for:
~your style of trading
~your confidence with pair/s & system/s you trade

if you need more from me, just ask

have a nice weekend
dolce vita
  • #13
  • Mar 29, 2025 8:31am Mar 29, 2025 8:31am
Dear PianistMat:

Keep in mind that more than 90% of all people who have tried their hand at trading never make any money. This percentage is possibly close to 100!
(That is not to say that I belong to those 90%, quite the contrary.)

This is a game of unitiated and the "providers" are making money on those uninitiated.
  • #14
  • Mar 29, 2025 1:50pm Mar 29, 2025 1:50pm
I think you already got good advice from the first few comments. I agree with the others that are suggesting you withdraw and do go back to learning the theoretical basics. Of course there will be a vast range of suggestions about which system/strategy to actually learn, but that is up to you to decide for yourself and find a good fit for your personality.

I just wanted to add one comment on the size of your account as this is something that's not talked about very often: While you can have fun trading a 1.5k account and even make a few hundred bucks here and there, please be realistic and true to yourself. In order to trade full time and achieve (taxed) earnings that justify you investing a serious amount of time and mental capacity, the old saying holds true: you need money to make money. Anything below 30-50k (ideally >100) I would say is undercapitalised for realistic success. (And then often lured into >25x leverage causing complete havoc to accounts in very short time.)
  • #15
  • Apr 9, 2025 2:40pm Apr 9, 2025 2:40pm
So I'm going to have to forget about using a stop loss. Is that the initiation? (Ie stop hunting is obviously happening)
  • #16
  • Apr 9, 2025 2:56pm Apr 9, 2025 2:56pm
literally no one said that. Seems like you’re hell bent on taking a 40% loss to 100.
stop, recover, demo and save your ammo
  • #17
  • Apr 9, 2025 3:01pm Apr 9, 2025 3:01pm
I still need to respond properly to the previous suggestions, I am just going through something right now. I will let you know that I have started reading some of the materials suggested.
  • #18
  • Apr 9, 2025 3:03pm Apr 9, 2025 3:03pm
I know, but I keep getting stopped out even when the market doesn't reach my stop loss.
  • #19
  • Apr 9, 2025 3:06pm Apr 9, 2025 3:06pm
I use a 3*ATR stop loss. I am frustrated with risk management and stop losses and trailing stop losses and risk to reward ratios... I was going well just thinking about price action and support/resistance with no indicators, I have studied some of Al Brooks' books on price action and am happy with that method for the strategy, I am most definitely losing money because of the risk management attempts and not the strategy.
  • #20
  • Apr 9, 2025 3:25pm Apr 9, 2025 3:25pm
Also, I forgot to mention I do get most of my losses from revenge trading which I am working on overcoming, but I'm talking about my other more disciplined style of trading, from that style of trading, most of the losses are from the stop losses getting hit all the time even when price does not visually show that it reached that level on the chart, and I have both bid and ask displayed on the chart, so I am convinced about the people who talk about stop loss hunting, I just don't know what to do with my 3ATR stop losses, should I increase it to 6ATR just to stop the stop hunting?
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