Congratulation that u never dismissed an account....Originally Posted by ;
But for me blowing off usd500 account still better/ give better lesson than shedding usd3k out of usd10k account...
I am thankful that I have gone through it and profitable now.
If you stated making 100 Pip (nett) per night is simple...I agree. But I don't say it's simple but it's acheveable but not every day.
The three account I blow up was about usd2500.
I consider it as tuition fee...
In case your testing, creating or demoning in ea's, seems to me demo's can be of high value....
The weak link in backtesting is the inability to account accurately for spreads.... Running ea's in demo accounts will expose most problems in that region....
The demo account will even indie if orders have been stepping on each other or other errors along online....
I have multiple live accounts but 3 times as many demo accounts.... Those demo accounts are flat filled with running ea's making hundreds of transactions a day.... Accurate, those transactions aren't makin money nevertheless still valuable knowledge can be gleaned from them....
A couple more usefull appliions of demonion's also come to mind...h
solute u 3013, u have surpass me, mine only gone us1800. Possibly the equilibrium acc will grown drasticly so u r 3013 n surpass our loses a month a year. Now lets concentrate n be wise during our trading day, the profit will be on our side yeah. Gd luck to all trader
I simply blew my 1000 account....
Quite pathetic b'cos I raised it to $9,000
Poor money management I figure
Currently, I am trying to finance my account
I agree with you very much. Never blown an account. I'm yet to conquer the fear of losing out.
(like in never got in my live account). The guy who put me through stuffs simply blew his account. The systems operate on the Demo but like you said it does nothing to excercise your own psycological'skill'.
#8220;To get profit without risk, experience without danger, and reward without work, is as hopeless as it is to live without being born#8221; #8211; A. P. Gouthev
Here is some free advice. You need to always withdraw your profits on a regular basis. You made 900 percent profit and did not withdraw. That's my friend, a error. Banking profits enables you some breathing space when you've got a poor run. You could well have banked 5k at the time and you would have lost just the staying 4k. Which allows you to send 5 times 1k for trading in the future; lots of chances and breathing space. However, all of us learn.
Lol, I blown at 10 account when I got started each financed with $1,000 but dismissed more then because each account did rise on average to $5,000 per, I had been overleverging and I paid a hefty price for that, ive since learn my lesson and make my living from trading Foreign Exchange, 99% of traders in this company goes thru this, I guess it is a part of the learning process.
I have came close to blowing it all but have stopped trading prior to getting murdered!
I taught my Brother a simple system and he began with $250.00 account with IBFX within 6 trading days that he had it up to $2,500 then within the next two days he had been down to approximately $50.00! ... Why Money Management and GREED!
I kept telling him he had been levereged but he insisted that he was fine afterward he began lossing and went All In on some trades.
Now he's no more trading and trying to get his head back in order before he begins again....
Its a hard one to handle when you first start out.
They say that 90 % of traders loose... thats incorrect... it's 90 percent of people who open accounts loose!
There's a gap at a trader and a individual just trying to exchange...
Trades are long term and have trained themselves to conquer greed.
Hope this help gives a different look at why people blow accounts
I busted two mini accounts, $300 each. These occurred.
The very first time, I made 100% profit in half an hour. Busted. Second time, $300 to $800. After, busted again. I've learned my lesson sincedo not EVER be afraid to take a loss.
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