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

  • #41
  • Jun 13, 2012 11:19am Jun 13, 2012 11:19am
many times just because ignorance and stop loss
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  • #42
  • Jun 13, 2012 11:42am Jun 13, 2012 11:42am
Been trading(or should I say practicing) for close to 3 months now. Made 40% gain in 2wks, then blew away 50% of the acc in one trade(trading news). Since then it has been an up and up down journey. what I make is what I lose. Problem is I am yet to develop a trading system. on average I have a 2 : 1 win - lose trades but my losses happen to be bigger than the wins.
  • #43
  • Jun 13, 2012 12:02pm Jun 13, 2012 12:02pm
Quoting mangaradja
many times just because ignorance and stop loss
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this shit is too funny
  • #44
  • Jun 13, 2012 12:06pm Jun 13, 2012 12:06pm
also the best trade is no trade.
  • #45
  • Jun 13, 2012 12:16pm Jun 13, 2012 12:16pm
Zero on blown accounts but does the ex-wife count?

made rather a lot, only to lose it all to her in the divorce.....

nothing like marrying a planner
12 months she waited for me to hit her magic number then BAM!

so poorer but wiser now........
  • #46
  • Jun 13, 2012 2:23pm Jun 13, 2012 2:23pm
Quoting zax1150
Zero on blown accounts but does the ex-wife count?

made rather a lot, only to lose it all to her in the divorce.....

nothing like marrying a planner
12 months she waited for me to hit her magic number then BAM!

so poorer but wiser now........
yep, good planners plan all the way to the end
  • #47
  • Jun 13, 2012 2:30pm Jun 13, 2012 2:30pm
i notice some traders blew 10+ accounts like me, i have another question, at what point do you give up on trading forex? how many blown accounts or how much money your willing to lose and how many system your willing to try before you realize forex is not for you.
  • #48
  • Jun 13, 2012 2:41pm Jun 13, 2012 2:41pm
Three about 1200$ total - on the right path atm - MM and patience is everything.
swing it!
  • #49
  • Jun 13, 2012 3:32pm Jun 13, 2012 3:32pm
Vote
  • #50
  • Jun 13, 2012 4:13pm Jun 13, 2012 4:13pm
Quoting PoundTrader
i notice some traders blew 10+ accounts like me, i have another question, at what point do you give up on trading forex? how many blown accounts or how much money your willing to lose and how many system your willing to try before you realize forex is not for you.
I guess I will keep going it's not that I don't know how to trade. I'm a good trader I just don't stick to my own trading plans. Once I can do that I will be a lot more successful.
  • #51
  • Jun 13, 2012 4:34pm Jun 13, 2012 4:34pm
cannot vote cause still have my first live account since 2009

main reason is i trade without leverage

but it seems to shrink consistently over time
  • #52
  • Jun 13, 2012 8:41pm Jun 13, 2012 8:41pm
Quoting torkay77
cannot vote cause still have my first live account since 2009

main reason is i trade without leverage

but it seems to shrink consistently over time
  • #53
  • Jun 13, 2012 8:45pm Jun 13, 2012 8:45pm
Quoting PoundTrader
i notice some traders blew 10+ accounts like me, i have another question, at what point do you give up on trading forex? how many blown accounts or how much money your willing to lose and how many system your willing to try before you realize forex is not for you.
i've been through my share of accounts, and im not even sure if the current one is me getting it "right"

but each time i blew up an account, i took a step back and analyzed the failure: was it me? was it the system? what caused the initial failure? what exacerbated it to the extent of failure? 100% of the time it was not the system it was my discipline of not following my own rules and becoming emotionally impulsive. knowing this keeps me going

also the malcom gladwell book outliers, one big concept covered is 10,000 hours of experience to become an expert

to a lesser degree, im a former competitive golfer and i find many parallels in the masochistic pursuit of success in something that require good grasp of your own emotional psychology
  • #54
  • Jun 14, 2012 2:39am Jun 14, 2012 2:39am
Quoting neuron
i've been through my share of accounts, and im not even sure if the current one is me getting it "right"

but each time i blew up an account, i took a step back and analyzed the failure: was it me? was it the system? what caused the initial failure? what exacerbated it to the extent of failure? 100% of the time it was not the system it was my discipline of not following my own rules and becoming emotionally impulsive. knowing this keeps me going

also the malcom gladwell book outliers, one big concept covered is 10,000 hours of experience...
  • #55
  • Jun 14, 2012 2:56am Jun 14, 2012 2:56am
I strongly belive that our a/c s are being blown only because of our EGO as well as GREAD .
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  • #56
  • Jun 14, 2012 3:09am Jun 14, 2012 3:09am
Quoting johNal
Been trading(or should I say practicing) for close to 3 months now. Made 40% gain in 2wks, then blew away 50% of the acc in one trade(trading news). Since then it has been an up and up down journey. what I make is what I lose. Problem is I am yet to develop a trading system. on average I have a 2 : 1 win - lose trades but my losses happen to be bigger than the wins.
to succeed you need profits bigger than losses (for the most part). that way you can win only 50% of trades and still always profit, and you wont have to win 90% just to profit
An opportunity lost is not a capital cost.
  • #57
  • Jun 14, 2012 3:45am Jun 14, 2012 3:45am
On my third account now - and am trading simple supply and demand which has the best R:R. Having said that, if you're trading blind and don't understand the markets, all a proper R:R is going to do is slow down your losses. Not make you profitable.
  • #58
  • Jun 14, 2012 3:58am Jun 14, 2012 3:58am
I only put in $100 a time when I get called based on what I'm down I'd guess approx 14 times, some of them in the early days wouldn't last a hour or 2.

I think it's 2 years since I last got called might even be 3 but not ruling out more to come just yet.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59
  • Jun 14, 2012 4:00am Jun 14, 2012 4:00am
Quoting Pedini89
On my third account now - and am trading simple supply and demand which has the best R:R. Having said that, if you're trading blind and don't understand the markets, all a proper R:R is going to do is slow down your losses. Not make you profitable.
Someone else actually gets that, so much emphasis on MM and that is all it can ever do, you've earned yourself your first vouch sir!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #60
  • Jun 14, 2012 4:02am Jun 14, 2012 4:02am
Quoting Turveyd
Someone else actually gets that, so much emphasis on MM and that is all it can ever do, you've earned yourself your first vouch sir!
Why thank you!
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