How to blow a $100 account | Forex Factory

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How to blow a $100 account

  • #1
  • First Post: Edited May 23, 2016 10:56pm May 12, 2016 1:51pm | Edited May 23, 2016 10:56pm
I thought it is about time someone come out and say it as it is....

Well, here it is............. I will show you how to blow a $100 account using two of my robots as martingale scalping bots.

Yes, it is a demo account, because I don't have $100 to invest.

Wish me luck

Rules for when trading with a Forex Robot / EA (More rules will be added as I go along)

  1. Never Ever leave your robot unattended - always check SL and TP levels and make sure all orders close as per presets


New Accounts Loaded

  1. 13 May 2016 - Starting new account with Push Notification in order to monitor all trades
  2. 20 May 2016 - Now on account #3

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  • #2
  • May 12, 2016 5:31pm May 12, 2016 5:31pm
​Excellent.
  • #3
  • May 12, 2016 8:19pm May 12, 2016 8:19pm
Quoting fxinvestfund
I thought it is about time someone come out and say it like it is.... Well, here it is............. I will show you how to blow a $100 account using two of my robots as martingale scalping bots. Yes, it is a demo account, because I don't have $100 to invest. Wish me luck
I haven't found a robot yet that won't blow your account. Not to say they are not out there.
Look Left Trade Right
  • #4
  • May 12, 2016 10:42pm May 12, 2016 10:42pm
Quoting Basill
{quote} I haven't found a robot yet that won't blow your account. Not to say they are not out there.
The whole "set and forget" saying that is going around is what makes forex robots so unreliable. Human intervention will always be needed when trading with a forex robot and many traders, more newbies than others want something they can drag and drop and forget - and that will never never work. Leaving a robot to trade solo on your account without management and intervention is looking for trouble........... still looking for that one as well.
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  • #5
  • May 12, 2016 11:18pm May 12, 2016 11:18pm
Hi fxininvest,

Congratulations to start a new system, feel free to follow and track our automated system which is based on set and forget rules.

http://www.forexfactory.com/showthread.php?t=573729
We are proud to be most consistent signal provider in entire industry.
  • #6
  • Edited 12:00pm May 13, 2016 11:38am | Edited 12:00pm
And this is exactly why you CANNOT leave ANY forex robot unattended!!!

My last order was placed, but the SL and TP was not placed, hence the 40% Draw Down.

Let this be a lesson for newbies using forex trading robots.

Always check your orders, make sure SL and TP levels are correct and that your orders close at these levels.

This might be a demo account, but on a live account this little error can cost you a lot of money.....

13 May 2016

Starting new account with Push Notification in order to monitor all trades
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  • #7
  • May 15, 2016 10:50pm May 15, 2016 10:50pm
Quoting Eonfx
Hi fxininvest, Congratulations to start a new system, feel free to follow and track our automated system which is based on set and forget rules. http://www.forexfactory.com/showthread.php?t=573729
Yeh, thanks but no thanks. Your risk/reward is completely wrong and it looks like you don't use a SL or a very wide SL. Some closed orders went against you for -30 or even -50 pips only to gain 5 pips or 6 pips. That is maybe why your Draw Down is more than 30%.

No I'll stick with my EA's and closely monitor each and every one's behavior.

Thanks anyway and Goodluck

Now, back to blowing this $100 account........
Trade Safe!
  • #8
  • May 16, 2016 12:31am May 16, 2016 12:31am
Hello,

Our EA is state of art and first of its own kind, we have stop based on percentage of account and not pips....btw you just linked another demo account, how many you plan to blow ? and whats the out come of this practice?

Thanks and Goodluck
We are proud to be most consistent signal provider in entire industry.
  • #9
  • May 16, 2016 3:31am May 16, 2016 3:31am
Quoting Eonfx
Hello, Our EA is state of art and first of its own kind, we have stop based on percentage of account and not pips....btw you just linked another demo account, how many you plan to blow ? and whats the out come of this practice? Thanks and Goodluck
You'll see the outcome shortly, but in the meantime I don't know how many demo accounts I'm going to blow.Btw, please do not delete your trade explorers when you have big drawdowns. I've noticed in the past you delete your bad accounts and keep the good one's and it is misleading. But, let's not get off topic, this thread is about my account, not yours.
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  • #10
  • May 16, 2016 4:02am May 16, 2016 4:02am
Quoting fxinvestfund
{quote} You'll see the outcome shortly, but in the meantime I don't know how many demo accounts I'm going to blow.Btw, please do not delete your trade explorers when you have big drawdowns. I've noticed in the past you delete your bad accounts and keep the good one's and it is misleading. But, let's not get off topic, this thread is about my account, not yours.
why getting angry bro? you can blow million account no worries after all its all demo, I trade real account and provide signals to my clients, this is your thread ofcourse.

I just wanted to know what is point of blowing these demo accounts? what are you planning to do? what is the out come?
We are proud to be most consistent signal provider in entire industry.
  • #11
  • May 16, 2016 4:53am May 16, 2016 4:53am
Quoting Eonfx
{quote} why getting angry bro? you can blow million account no worries after all its all demo, I trade real account and provide signals to my clients, this is your thread ofcourse. I just wanted to know what is point of blowing these demo accounts? what are you planning to do? what is the out come?
I'm not getting angry bro, I'm very much relaxed. You'll see the outcome of this exercise shortly.
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  • #12
  • May 16, 2016 2:08pm May 16, 2016 2:08pm
that title though.

I'm also trade with martingale.

Good luck for your trade!

I'll watch your TE brother.
Risk comes from not knowing what you're doing.
  • #13
  • Last Post: May 16, 2016 11:16pm May 16, 2016 11:16pm
Quoting dragonexpert
that title though. I'm also trade with martingale. Good luck for your trade! I'll watch your TE brother.
I'm pushing really hard with this exercise trying to show the possibilities as well as the down side of using a martingale type system.

This is only for experimental purposes - my ea's are running on other accounts with proper control and risk management.

BTW - some awesome stats you're producing on your side - great stuff!
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