Easiest way to lose 150 bucks

Is to gamble at the casino or .. do forex....or give it to my wife. I choose forex since my wife gets money from me everyday anyway..
I intend to keep track of it here just for fun. So once the money are gone I will still have a memory of it ..

I lost some money in forex in 2009 and 2010. After a big break of about 1 year, since I hate demo I am starting again with a live penny account to play for a litlle bit.

I know how you suppose to make money in forex.... you bet flat 1% or 2% or 3% or whatever appetite for risk you have and enjoy the profits.... If you have an edge.

First problem.. an edge??
I don't have an edge, at least none that I am aware of. and even if I think I have one (regarding direction, volatility, indicators) I learn in all this years since I heard about forex that the best out of the best traders, the ones that lasts for years... make around 5-15 % a month profit and this is outstanding, if any possible...

personally I really believe it is close to impossible to trade forex for living and to make regular withdraws.

I also know for sure that the majority of retail forex traders (small people like me) lose money in forex. So all the odds are against me. AM I one
of the exceptions, am I one out of 5 % of people who can make money trading currencies... I don't think so. I am just a regular guy. I can full myself and start throwing money in the market.. but math is math, and reality is reality. And even If I am very special and gifted and succeed to make 5% a month I need a huge account so I can trade for living. Lets say for $5000 a month to make I need 100 000 dollars in my account. I don't have it. So why not just throw all the rules outside and put 100%-500 dollars in an account and ... gamble. We all are doing it when we have accounts so small, even if we see it or not.

you want to fool yourself... you do it, as for me ... I will say the truth.. I just want to have fun, I am a type of a gambling person, and If I would go to a casino I would lose a lot more in a night or so...

First week I just took some sell positions on EUR/USD with no stop loss.
Second week that actually ended today I just discovered that my broker has a tradestation and helps u open and close positions with one click. Played with it a litlle bit and I opened positions on all pairs with spreads under 10 pips.. I closed them once they were in profit and I martingale myself out when they went in negative since there were hardly any stop loss.

personally id rather give it to your wife !

Third week, I hit the troubles, i went martingale so deep that I had to add to the deposit more money. Eventually I got out, I just wasn't ready too call it quits so fast.

I know How I should trade, I know what is a good money management, I trade the right way into my main account. I just opened this 150 $ account and I just open random entries on all pairs, and once in draw down I martingale myself out. I am up at this point, but I know it was just luck.

If it does not go bust till I hit 1000 $ (which I doubt) I will change my trading style for this account and take it more serious.

Well one more week with this account and my money are still growing.

I still trade all pairs random entries no stop loss, and martingale myself out of drawdown. If I survive next week I will have to change at least entries, and start somekind of system. we'll see.

This week 25-30 December is the last week from this year 2011 and it was a very good week for me. My account equity is 450 dollars already. I trade very risky and i was very lucky till now. Honestly i thought I will lose all my 150 $ in the first week.

I have about 4 weeks since I start with this account. I made 50 % in a month, not bad, but I just don't have confidence in it, i know I was just lucky since I had no stop loss, so It was possible to lose all my equity anytime.

This morning I played to much with my trades and lost 40 dollars in couple minutes. I went sell Eur/usd with all my equity (all in).

The direction was right just timing bad. I had to take 40 dollars loss , waited 2 more hours for the price to raise more, and when I considered was high enough went again all in for a sell on Eur/usd.

I was 99% convinced in the last hours of this year Eur will go down. I went with all the maximum lot I could go with the account I have that is dollar and 40 cents a pip, I put a take profit at about 50 pips than I went to work. While at work I was checking this account on my phone and got crazy when I saw the price got 1 pip away from my take profit that was about 70 dollars in profit and went up again and stopped at 50 dollars for the weekend. I thought I would be on time back home to stop it manually but I got delayed. I am unhappy, my broker IBFX does not have a mobile software for my android phone.

I am a Little bit worried however the trade is still open and I am not sure what is going to happen next week since it will stay open over weekend.

Hopefully I will have something to talk about next week too and I won't go bust.

yes the trade over weekend went in my favor, made 70 dollars on that one alone.
Today I knew had to raise a Little bit - not to much volatility since it was bank holiday almost all over. Made good money today (for the account size) by scalping Eur/usd here and there with maximum lot size allowed by this account.
It is so easy to scalp when there is no volatility therefore low risk when your lot size is big.

So I start this week fresh nothing open at this point, no rezidual trades, all good and clear.

good job! are you going to withdrawl some and create a "savings" in case you hit margin call?

Can you tell me about your trading systerm. I openned an account with 500$. Now I lost 470$

maybe if i get to 1000$. The more you have in acount the more you make...or lose

Don't worry, be happy. See the good side of what you did.


1. You learn something - you actually added a Little bit of forex experience to your life.

2. You lost only 470$? That is not a lot. I know personally people who lost over 30 000$ with forex. If you compare yourself with them you are very, very very lucky my friend.

So.. don't worry be happy. Learn more, get more experience and in a month or two when you have a good system try again...or just quit forex altogether depends how you feel. I wish you the best in the new year. enjoy life. Julian.

Thank you, and I wish you the best in the new year, too.

I had a good day today.I did no more martingale this week.

But now I have over 70 positions open.

I will try tomorrow (friday) to close most of all so I can start fresh next week. We'll see...

One more week in the past... I am getting close to 1000$. Total account balance 961$.

This week I made 177$. That is 23% of the total account balance.

I still KNOW for sure it is just luck. There is no system involved.

Sometimes I trade with maximum lot possible (at this time is about 3 dollars per pip) and steal 1-5 pips. I get lots of thrill and excitement when I do this. I really feel like I am doing forex.

But remember kids, when you feel excitement in forex that means you are risking to much and going to lose your money.

I can lose my money anytime, but at this point I don't really care - it will not be the end of the world if I lose my account balance. Anyway what Can I say sometimes forex is fun.

Hi, sounds like you trade similar to me. I open trades on all trending pairs and just close the ones that go against me and hold the good ones. Good luck with your trading.

Exactly. I am happy to find out that actually somebody else can make profit like that.

Do you have any major entry rules? Did you calculate what is your hit rate? For sure you have to have more than 50% other ways you would not any money if you keep same lot size on all trades.

My entry rules are... if it's trending, jump on.

I use small position sizes so I can afford to be wrong on lots of trades but be right on only a few and still make money overall. I believe if you are trading with the trend then you just need patience and the nerve to sit through some drawdown before your trades become profitable. I'm not using stop losses at the moment because I think that I know when a trade is not working out and when it probably isn't going to ever work out how I want it. I used to use 200 pip trailing stop losses (for daily charts) but then I would usually close a trade down before it got that far anyway.

I really believe it is the position sizing and just opening multiple trades that is the key, only ever one smal position per pair and if you are right you can always add on. If you are wrong you can just take a small loss and move on. I would never add on to a losing trade, if it never comes back you will lose double your initial risk and what's to say it will come back? After all you were wrong about the direction once already.

I see you have posted in my other thread but I haven't read it yet, this probably answers that too.

Hopefully we can work together to prove this type of trading works? What time gmt are you?

1 year past allready since I opened this thread, my account eventually went bust I will try again, it's fun I will allow it to myself to spend some money doing something that I like to do. I will consider it like a Christmas present.

I tried in the past to follow all the right "rules", but who has time to spend day after day for a messy 3% a month on an account of 100$? I think it is easy to be positive 1%-3% a month, every month, but I just can not afford it right now...

Why? Because Where is the fun? Where is the thrill? I am spending days on my computer for 3-5 dollars a month.. where is fun in that. Actually trading the right way is very boring, I need excitement, I need reasons to spend my precious time in front of my computer.

If I want to feel good about forex I want to make at least 10 bucks an hour, on my calculations you need 100 k in the account to make this money.. so the answer... is increase risk and try to take 100 dollars to .. a lot more. That gives me pleasure, thrill and makes me happy. So instead going to a movie theatre and see 10 movies with 10 dollars each and feel good for 20 hours, I will put another 100 dollars in my forex micro extra mini account and feel good for days, with lots of hope that I can also might make some extra change.

So yeah.. this is my Ideal in life.. get paid to have fun, I think this is the holy grail for me.

Now I almost found my holy grail, well at least I found half of it... I am having fun and feel good when I place orders, all I need now is to get paid for doing that by having lots and lots of profits...

A good honest thread. Sadly, as with most gambling businesses, the house are only winners. Sure, a winning streak is possible - but over the long run, the house wins.

But - yep, I would do this for only entertainment purposes also - good luck and hope you make some decent 'pin money'.

more than 4 years later,

Well guys, I am still around, my wife loves me and is still with me , but I calmed down my gambling addiction a little bit in the last 4 years, I had to sign off of the majority casinos around, they said if they even catch me in their parking lot, I would be arrested for trespassing lol, I did it all by myself wanted to quit gambling once for all...

HOWEVER is winter again, beginning of a new year, I am bored and work is slow, wife never home in the daytime and I feel like I should give forex another shot, however this time I would take it more serious.

So here is where it gets interesting, I am more mature, I know a lot more than I ever did about the FOREX exchange, and I am actually looking to see if I have an edge on my trades. In order to see if I have anything as little as it can be to help me make some money on the LONG run, I will be sincere with myself, placing some actual rules that I will TRY not to brake (still don't think I have as much control over myself as I wish I would). I opened two accounts deposited 500 dollars in each.

so here are the rules for the account number 1 and account number 2:

1. NO GAMBLING (well its all a gamble anyway, but I will call it an educated guess, so I can feel better and important). No gambling means I will actually enter a trade believing that the direction BUY or SELL, based on the prior back tests I made will take my trade into positive (that means more chances to go to the take profit instead to the stop loss)

2. always a STOP LOSS (big difference since 4 years ago, I know) . when I say always I mean always, not mental stop loss, a hard stop loss.

3. R/R - that's risk reward, or the difference between stop loss and take profit at least 1/1, this will help me actually see if I have an edge or not, very easily. Random entries R/R 1/1 chances of wining are a coin toss or 50% and we slowly bleed our accounts because of the spread from our brokers, so if in the long run (not sure how many trades will that be, maybe 1000?) I have a positive amount of money, that means , I actually have an edge my confidence will grow and I will start making deposits in order to actually get rich , if my account will be in negative in lets say 1000 trades, it will convince myself that I have no edge, and my trades, despite the back tests and direction chosen, were just random entries.

4. I will be risking 50 pips on my majority of the trades and hoping to make 50 pips, so TP 50 pips, SL 50 pips

5. no martingale, just risking 1% flat, that's 5 dollars for me since the account starts with 500 dollars. In order to do this I need my lots to be 0.01 (10 cents a pip)

HERE WE GO