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

  • #121
  • Jun 26, 2012 11:13am Jun 26, 2012 11:13am
Quoting avibe
lost $1.2m
damn, you need to be in my other thread, ( at what point to you give up forex ) if i lost $1.2m i would of quit unless you started your 1st account very big, this is why you always start small
  • #122
  • Edited 11:27am Jun 26, 2012 11:19am | Edited 11:27am
Its all good..took me 10months to make that money trading spot Gold...had an altercation with my broker today..he closed all my positions..right now just sitting in my couch..sipping some whisky as i watch colbert report..

good thing i told my wife..i will take a break...learnt some very powerful lessons..trading is a good thing..

we will bounce back that is what we traders do

Hope this will encourage all traders

Inserted Video
practising coitus interruptus
  • #123
  • Jun 27, 2012 4:48am Jun 27, 2012 4:48am
Quoting PoundTrader
damn, you need to be in my other thread, ( at what point to you give up forex ) if i lost $1.2m i would of quit unless you started your 1st account very big, this is why you always start small
Demo Account will be wise
  • #124
  • Jun 27, 2012 10:16am Jun 27, 2012 10:16am
In 2 years learning to trade, I've lost 7 or 8 accounts most pf them are around 500 dollars, i would sum up i'm down around 3000 dollars but not sure i need to check, my bank statements, on demo i'm doing good, but when it comes to real money, i start thinking about how much i need to make and i will fuck up everything. Few times I would make 50 to 100 percent during 3 weeks and on last few days of month in day or two I would wipe it out.

One thing that I have noticed is if i make certain amount of money and set goal to put some more or round it i would lose them all, and all because I start over-leveraging.

Planing to start with small account 150 dollars and practice discipline and get my emotions under control.

I never give up
  • #125
  • Jun 27, 2012 10:56am Jun 27, 2012 10:56am
Quoting avibe
lost $1.2m
Tell us some stories, buddy!
  • #126
  • Jun 27, 2012 11:36am Jun 27, 2012 11:36am
I am still with my first account but I lost more than 50% of it!!
I have decided to verify my strategies again and see what went wrong!
Actually I am verifying strategies from Rockwell Trading (Boomerang, Seahaw, Simple strategy,..)! They use range bars.

Any comments about those strategies?
  • #127
  • Jun 28, 2012 3:24am Jun 28, 2012 3:24am
Quoting felgab
I am still with my first account but I lost more than 50% of it!!
I have decided to verify my strategies again and see what went wrong!
Actually I am verifying strategies from Rockwell Trading (Boomerang, Seahaw, Simple strategy,..)! They use range bars.

Any comments about those strategies?
You are exactly in the same boat as I am. Halfway my first account, actually it had dipped a bit lower. I would recommend you check out X-man's super simple system. I wish I had discovered it earlier. I can see the light down the tunnel and it gets brighter as I read on.
  • #128
  • Jun 28, 2012 3:29am Jun 28, 2012 3:29am
Quoting avibe
lost $1.2m
You gotta be kidding!!!! Gold wiped out two of my demo accounts (100K each). I vowed never to trade gold again. How did you do it in such a short time? 5% of what you lost would have sent me into early retirement.
  • #129
  • Jun 28, 2012 3:33am Jun 28, 2012 3:33am
Quoting PixeLM
Never blown an account, came close.. never really made it though..
I have never blown my account either
  • #130
  • Jun 28, 2012 3:35am Jun 28, 2012 3:35am
Quoting felgab
I am still with my first account but I lost more than 50% of it!!
I have decided to verify my strategies again and see what went wrong!
Actually I am verifying strategies from Rockwell Trading (Boomerang, Seahaw, Simple strategy,..)! They use range bars.

Any comments about those strategies?
I know only the Simple Strategy, bun not the others. Hardly i can give comments
  • #131
  • Jun 28, 2012 3:37am Jun 28, 2012 3:37am
0
consistency wins
  • #132
  • Jun 28, 2012 5:56am Jun 28, 2012 5:56am
Quoting leopard31
I know only the Simple Strategy, bun not the others. Hardly i can give comments
Where did you find the simple strategy? Was it with Rockwell trading? I try to find someone who have used those strategies!
  • #133
  • Jun 30, 2012 3:11pm Jun 30, 2012 3:11pm
http://www.easyfreesmileys.com/smile...mileys-327.gif
  • #134
  • Jun 30, 2012 9:09pm Jun 30, 2012 9:09pm
Quoting TheDivine
In 2 years learning to trade, I've lost 7 or 8 accounts most pf them are around 500 dollars, i would sum up i'm down around 3000 dollars but not sure i need to check, my bank statements, on demo i'm doing good, but when it comes to real money, i start thinking about how much i need to make and i will fuck up everything. Few times I would make 50 to 100 percent during 3 weeks and on last few days of month in day or two I would wipe it out.

One thing that I have noticed is if i make certain amount of money and set goal to put some more or round...
same hare I loss around 2000$ now all things are adjusted except one!!! I make 200-300% in a week!!! (yes it is on 50$) but with in a day or two all wipe out, I know I have the system, I can make money, but last part I can't protect it, one way is to with draw the amount when you reach the 150-200% and again start with 50-100$ than make up to 100-150% and withdraw it and so on, THAN slowly add more fund for start up fund say 100+20$,every month. I let know if it will work for me, I start coming week with 50$ and trade only xua/usd.
just live a life, don't be hard.
  • #135
  • Jun 30, 2012 9:42pm Jun 30, 2012 9:42pm
Quoting TheDivine
In 2 years learning to trade, I've lost 7 or 8 accounts most pf them are around 500 dollars, i would sum up i'm down around 3000 dollars but not sure i need to check, my bank statements, on demo i'm doing good, but when it comes to real money, i start thinking about how much i need to make and i will fuck up everything. Few times I would make 50 to 100 percent during 3 weeks and on last few days of month in day or two I would wipe it out.

One thing that I have noticed is if i make certain amount of money and set goal to put some more or round...
learn more on money management and it will helpyou alot for the future=)
  • #136
  • Edited 10:31pm Jun 30, 2012 10:21pm | Edited 10:31pm
I just got started...
I fund $7000 to my standard, ECN account.
After having lose $1000 initially, I manage to recoup all my losses and now only earn a meager $200 after 2 stressful months
I hope my account could last much longer ...
  • #137
  • Edited 2:50am Jul 1, 2012 1:52am | Edited 2:50am
I wish I was up 200$ after only 2 months, that's not a bad start and to re-coup your loss'es already is not a bad start to trading.
I will be-refunding agin on Monday with an aim to use only 5% of my balance on every trade.

Good Luck to you and stick with it.
  • #138
  • Edited 2:16am Jul 1, 2012 2:05am | Edited 2:16am
i start using 45 pip s/l and it only got hit 25% of the time
Hi Again, i'm starting again from Monday 2nd July, I see that you are using a 45 pips stop loss ( I was looking at 40 but will start at 45), what I am asking you is what would your stop limit (take profit) target be ?

I am looking at break even or 1.25-1.5 / 1 in my favour so maybe target 60 pips.

My other problem in the past was getting out of a trade to early and taking small profits instead of letting my trades run either to stop loss, or stop limit.
I now aim to put trades on and let them run to either the stop loss or take profit targets.
The week before last I managed 107 trades in a week with 24 loosing trades, but kept adjusting my stop loss'es which I know is the 1st rule of trading, before I knew it my stop loss was suddenly 200 pips....I will learn from my last 18 months of trading, and start letting my trades run till the end.

Many Thanks
MossY
  • #139
  • Jul 1, 2012 2:08am Jul 1, 2012 2:08am
Open an account with 5 Millions

Goal: become a millionaire.

2 weeks later account is down to 1 Million

Goal achieved. Success.
  • #140
  • Jul 1, 2012 2:15am Jul 1, 2012 2:15am
Quoting avibe
Its all good..took me 10months to make that money trading spot Gold...had an altercation with my broker today..he closed all my positions..right now just sitting in my couch..sipping some whisky as i watch colbert report..

good thing i told my wife..i will take a break...learnt some very powerful lessons..trading is a good thing..

we will bounce back that is what we traders do

Hope this will encourage all traders

http://www.youtube.com/watch?v=MwKYjZ_8EcE
... One depressing piece of pure hubris.

(Hubris ( /ˈhjuːbrɪs/), also hybris, means extreme pride or arrogance. Hubris often indicates a loss of contact with reality and an overestimation of one's own competence or capabilities)
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