How many accounts did you blow? | Forex Factory

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How many accounts did you blow?

  • #1
  • First Post: Nov 20, 2005 2:40am Nov 20, 2005 2:40am
Before starting to get profit? How long time did it take?
  • #2
  • Nov 20, 2005 5:26am Nov 20, 2005 5:26am
Quoting Vlad
Before starting to get profit? How long time did it take?
I blew 8 mini account with the avg account size of $500.00.
If I Go Broke Trying Then I Will die happy.
  • #3
  • Nov 20, 2005 5:30am Nov 20, 2005 5:30am
I blew 2 minis with 250$ was trading withought stop
kiss the trend
  • #4
  • Nov 20, 2005 6:04am Nov 20, 2005 6:04am
Quoting fx-trader777
I blew 2 minis with 250$ was trading withought stop
What kind of leverage did u use? what % of account did u use at top?
  • #5
  • Nov 20, 2005 6:45am Nov 20, 2005 6:45am
Quoting Vlad
What kind of leverage did u use? what % of account did u use at top?
200:1 leverage, 10K per lot. very risky yeah?
kiss the trend
  • #6
  • Nov 20, 2005 8:32am Nov 20, 2005 8:32am
umm...three mini accounts.....and almost blowed one standard account.
and i grow...pip by pip.......pip by pip!!!!
  • #7
  • Nov 20, 2005 10:55am Nov 20, 2005 10:55am
If you are talking about real accounts, then I blew zero..None till now...I lost some money on a mini acocunt, but I stopped trading at that point, the loss wasn't great, it was around 8% of the total account equity...

If you are talking about demos, I blew up more than 5 accounts, all in virtual money...


Thanks,

Nader
  • #8
  • Nov 20, 2005 11:19am Nov 20, 2005 11:19am
Quoting narafa
If you are talking about real accounts, then I blew zero..None till now...I lost some money on a mini acocunt, but I stopped trading at that point, the loss wasn't great, it was around 8% of the total account equity...

If you are talking about demos, I blew up more than 5 accounts, all in virtual money...


Thanks,

Nader
Great man! what leverage did you use? minis is difficult to trade.
kiss the trend
  • #9
  • Nov 20, 2005 3:13pm Nov 20, 2005 3:13pm
Quoting fx-trader777
Great man! what leverage did you use? minis is difficult to trade.
You think mini is hard to trade. that how i got my start now im making a living off of forex.
If I Go Broke Trying Then I Will die happy.
  • #10
  • Nov 21, 2005 2:59pm Nov 21, 2005 2:59pm
Quoting fx-trader777
Great man! what leverage did you use? minis is difficult to trade.
I use 400:1 leverage, the maximum my broker is allowing, but I never had a trade of more than 1 mini lot..Always playing it safe, I am still at the beginning of the road and I want to continue moving on...


Thanks,

Nader
  • #11
  • Nov 21, 2005 3:32pm Nov 21, 2005 3:32pm
none.
  • #12
  • Nov 22, 2005 2:39am Nov 22, 2005 2:39am
Rock, how long do u trade?Demos/real bucks?
  • #13
  • Nov 22, 2005 3:57am Nov 22, 2005 3:57am
Quoting Vlad
Rock, how long do u trade?Demos/real bucks?
I didn't trade demo. Been trading FX for almost 2 years and stocks/CFD's for about 5 years prior to that.

I see no reason why you would blow up an account if you use solid % based risk management. As long as your positionsizes decrease as your equity decreases then you will last a lot longer.

I am not surprised that a lot of people blow themselves up based on many of the comments on leverage and the lack of position sizing techniques that I have seen on this and many other forums. Most people don't really seem to have any idea what the term 'risk management' means!

Simon
  • #14
  • Last Post: Nov 22, 2005 4:31am Nov 22, 2005 4:31am
What are your margin management rules?
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