How Many Accounts Did You Blow Before You Got It Right? | Forex Factory

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How Many Accounts Did You Blow Before You Got It Right?

  • Poll

  • How Many Account Did You Blow
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  • #1
  • First Post: Jun 13, 2012 12:06am Jun 13, 2012 12:06am
How Many Account Did You Blow Before Developing A Winning System. You Can Post Your Exact Number
  • #2
  • Jun 13, 2012 12:10am Jun 13, 2012 12:10am
I Blew 10 account each was funded with 1k, so i lost $10,000
  • #3
  • Jun 13, 2012 12:16am Jun 13, 2012 12:16am
don't forget to vote
  • #4
  • Jun 13, 2012 12:18am Jun 13, 2012 12:18am
I'm still on my first live account... but I've only been doing this for about 2 weeks now.

We'll see I guess...
  • #5
  • Jun 13, 2012 12:18am Jun 13, 2012 12:18am
Never blown an account, came close.. never really made it though..
  • #6
  • Jun 13, 2012 12:29am Jun 13, 2012 12:29am
Quoting PixeLM
Never blown an account, came close.. never really made it though..
time will tell, wish you well
  • #7
  • Jun 13, 2012 12:30am Jun 13, 2012 12:30am
There is no option for zero
"Don't Panic..."
  • #8
  • Jun 13, 2012 12:31am Jun 13, 2012 12:31am
Quoting Halifax
There is no option for zero
my bad, i assume in this business your at least blown one account.
  • #9
  • Jun 13, 2012 12:33am Jun 13, 2012 12:33am
I used to not believe it when I heard the best traders in the world only trade with 1-3x leverage. But I certainly do now.

Never blown an account, but have experienced bad draw down when I first started out trading (8 months ago) 10x leverage, which I quickly learned from.

I risk no more than 0.5% per day, 2% per week, 5% per month. If those levels are reached I cannot trade anymore until the day, week, or month ends. So i start the day/week/month off small, and work my way up to trading slightly larger amounts once I have profit to back it.
An opportunity lost is not a capital cost.
  • #10
  • Jun 13, 2012 12:36am Jun 13, 2012 12:36am
10 accounts? Are you sure you have it right yet?

I blew 2 significant accounts and a suffered a handful of big drawdowns before the lights came on. Unfortunately I was learning with six figures.. Go big or go home right

However the important thing is that I've learned valuable lessons from my losses. Most importantly:

- Money management
- Taking better Risk/Rewards... patiently waiting for the right entry point

I have to thank gatorinla for making me a better trader. He provides golden information and wisdom on a daily basis (not just the tech numbers). My trading has significantly improved accordingly.
  • #11
  • Jun 13, 2012 12:36am Jun 13, 2012 12:36am
Quoting BFSGcapital
I used to not believe it when I heard the best traders in the world only trade with 1-3x leverage. But I certainly do now.

Never blown an account, but have experienced bad draw down when I first started out trading (8 months ago) 10x leverage, which I quickly learned from.

I risk no more than 0.5% per day, 2% per week, 5% per month. If those levels are reached I cannot trade anymore until the day, week, or month ends.
i see where your comming from, the reason why new traders use high leverage is because there account is small and they want it to grow quick, when your trading millions it's much easy to trade 1-3x leverage.
  • #12
  • Jun 13, 2012 12:38am Jun 13, 2012 12:38am
Quoting diggo
10 accounts? Are you sure you have it right yet?

I blew 2 significant accounts and a bunch of smaller losses before the lights came on. Unfortunately I was learning with six figures.. Go big or go home right

However the important thing is that I've learned valuable lessons from my losses. Most importantly:

- Money management
- Taking better Risk/Rewards... patiently waiting for the right entry point

I have to thank gatorinla for making me a better trader. He provides golden information and wisdom on a daily basis (not...
shit happens, it was all in one year i was gun slanging trying to get rich quick
  • #13
  • Jun 13, 2012 12:39am Jun 13, 2012 12:39am
Cast Your Vote!
  • #14
  • Jun 13, 2012 12:43am Jun 13, 2012 12:43am
Quoting PoundTrader
shit happens, it was all in one year i was gun slanging trying to get rich quick
Unfortunately that's the trap most newbies fall into, myself included.
  • #15
  • Jun 13, 2012 12:43am Jun 13, 2012 12:43am
I busted two accounts in my early trading. It took me four pretty frustrating years to learn enough to start making consistent profits. I found it had much more to do with my mental attitude and trading discipline than with the system I use.
  • #16
  • Jun 13, 2012 12:44am Jun 13, 2012 12:44am
Quoting diggo
10 accounts? Are you sure you have it right yet?

I blew 2 significant accounts and a suffered a handful of big drawdowns before the lights came on. Unfortunately I was learning with six figures.. Go big or go home right

However the important thing is that I've learned valuable lessons from my losses. Most importantly:

- Money management
- Taking better Risk/Rewards... patiently waiting for the right entry point

I have to thank gatorinla for making me a better trader. He provides golden information and wisdom on a daily...
we learned very similar things. one more thing is to control our greed which i still fighting..

I lost 4 account on my early day in forex
  • #17
  • Jun 13, 2012 12:50am Jun 13, 2012 12:50am
I blew more than ten,though small accounts but learned valuable lessons from it.
  • #18
  • Jun 13, 2012 12:54am Jun 13, 2012 12:54am
2 accounts in 4 years (1k and $500).
Come with me if you want to live....
  • #19
  • Jun 13, 2012 1:14am Jun 13, 2012 1:14am
Blew 7 accounts in 6 months in my early days trading forex, each with approx. $500-$1k deposit funds in it. Also lost a fresh funded accounts in like 2 hours once..
  • #20
  • Jun 13, 2012 1:43am Jun 13, 2012 1:43am
I cannot remember how many acct or much I have blown but must be around $50k. Most of the money was when I first started 5years ago.

I had a very comfortable cashflow so I just throw money in. Now it seems I'm getting it better but I haven't been as consistent as I would say I have gotten it it right.

Honestly, I am better and more relax than when I first started. My new job doesn't give me enough time to study the market and I don't have cashflow like before. Wifey is in now to help spend the money.

I'm still in for the long haul. Still open to ideas and suggestions. I want to trade full-time someday.

Thanks!
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