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Coming back after account blow-up

  • #21
  • Jul 13, 2013 10:07pm Jul 13, 2013 10:07pm
Quoting Kanzler
Easy. Don't use a live account. I guarantee you every one you make is going to blow up until you really understand what's going on.
I doubt it
coz human nature,,lazy to do something
that does not provide benefits markedly
if there is something you should keep secret,simply just save it,, so, just
  • #22
  • Jul 13, 2013 10:09pm Jul 13, 2013 10:09pm
Quoting danny6787
{quote} I was in the same boat as you a few years ago where I didnt blow up an account but i was scared out of the market when I lost about 85% of my profit. What I learned is that if you are having trouble with your trades try a longer term time frame, smaller positions and work your way up, dont get into a position just to get into something. It all takes time and patience. No one can become an amazing trader overnight, just develop a plan and stick with it.
No one can become an amazing trader overnight, just develop a plan and stick with it.== yes
if there is something you should keep secret,simply just save it,, so, just
  • #23
  • Jul 13, 2013 10:11pm Jul 13, 2013 10:11pm
Quoting Goldflake
Trade long term.

how long ?
if there is something you should keep secret,simply just save it,, so, just
  • #24
  • Jul 13, 2013 10:12pm Jul 13, 2013 10:12pm
Quoting peregrine
I fell down the Rabbit hole. Blew up an account. Any suggestions? Or programs? Did all the classic mistakes. Going to reWrite my rules. Rules of engagement. Exits. Etc. Going backtest minimum my 100x with notes to see if any nuances I need to tweak. Part of problem was conflicting trading styles on same account. As in using momentum(breakout) and value(pullbacks) trades at the same time. I "Chased" a big loss that I incurred from being overleveraged, as most of my trades were actually profitable, but I failed to EXIT according to my backtested...
, wanting to make loss back in one trade,==

I think you know better than others, because you are experiencing it
if there is something you should keep secret,simply just save it,, so, just
  • #25
  • Jul 14, 2013 6:16am Jul 14, 2013 6:16am
Wether it was market forces or trader psychology or even anissue with your strategy as long as you identify the issue and learn from it you will be all the wiser
  • #26
  • Jul 14, 2013 7:25am Jul 14, 2013 7:25am
Quoting Mingary
{quote} I use 1:1 on a 1:50 account. No SL. So there.. your turn.
Yeah, it's pretty hard to blow up an account using that kind of leverage. I generally use 2:1 on a 1:50 account.

I saw your other thread about failing to reach a margin call. Well done.
Nothing worth having is easy.
  • #27
  • Jul 14, 2013 12:24pm Jul 14, 2013 12:24pm
Quoting sandycarrot
{quote} how long ?
What worked for me was 1hr then as I progressed step down lower over time, I still only trade the 1hr once in a while ill take a scalp on the 5 or 15 minute
  • #28
  • Jul 14, 2013 12:29pm Jul 14, 2013 12:29pm
One more thing that helps is stay away from the news, news will wipe you out, unless you want to take the gamble and have a few bucks laying around dont do it. another thing stick to one pair, let it setup, once it sets up take the trade, patience
  • #29
  • Jul 15, 2013 6:30am Jul 15, 2013 6:30am
ready for another lickin'?
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #30
  • Last Post: Nov 14, 2014 10:20am Nov 14, 2014 10:20am
Quoting Patience
{quote} Yeah, it's pretty hard to blow up an account using that kind of leverage. I generally use 2:1 on a 1:50 account. I saw your other thread about failing to reach a margin call. Well done.
I laugh when I see posts like this, 'use a 1:1 leverage instead of the 1:50 or 1:200 provided by the broker',it's just like saying you should not exceed 20km/hr while driving a Bugatti on the Autobahn! C'mon guys, you can as well quit forex and go back to trading the stock market then.
Less is more...
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