Thread: How many real accounts have you blown before consistently making money in FX?

Only two

Originally Posted by ;

I myself have blow up 3 real account before beginning to do well in forex market. . It is extremely painful..but currently I am doing fine. .

The worst one is that my usd1000 mini account blow in two trading days for trading gbp/jpy.

The key causes of this....are poor money management, and psycology

How about you guys...I just curiuos to understand. .

Can you consistantly making money from the beginning of launching account? How many accoount have you ever dismissed if any?

Or tell us your expertise before consistantly profitable. .

's history:
1. Started trading: early 1990s
2. Blown number of demo accounts - innumerable
3. Demo money blown - a few million dollars
4. Started live trading: 3 years back
5. Blown number of real accounts: 10 (ten)
6. Real money blown: $70,000

7. Demo traded pair for over 10 years: USD/JPY
8. Real traded pair: EUR/USD occasionally a few more
9. Pair will NEVER trade again in my entire life: All pair of JPY

10. Major reason of accounts: Brokers' trap/tricks (this is no joke)
11. Other reason of accounts: Lack of market knowledge and the way that price moves.
12. A few other motives of accounts: Lack of money management/fear/greed/impatience

13. Consistently profitable since: No such thing exists or may exist.
However, make over that I lose on yearly basis.

Originally Posted by ;

's history:
1. Started trading: early 1990s ...
4. Launched live trading: 3 years ago
5. Blown variety of real accounts: 10 (ten)
6. Actual money blown: $70,000 ...
...
12. A few other motives of blown accounts: Lack of cash management/fear/greed/impatience
13. Consistently profitable since: No such thing exists or may exist.
However, make more than that I shed on annual basis.

Wow, you demo'ed for 15 years?!
I also began in the 90's (overdue ) and dropped over $70k.
And, more economical broke r, more transactions -- Read this manner, seven accounts dropped.

Overall, I have been too rash and helpless, so I failed to ch onto any cases of the other reasons.
12, then: Perfectionism versus a necessity to join broke my assurance.

Trading live was(/is) like a drug, therefore that I kept feeding it cash until $12.50 to a penny stock could not do it for me anymore.
I broke the first year I researched chart technicals seriously (2004), then my old trading habits caught up with me and that I lost every penny I could get.
After this, just demo'ed and demonion simulator'ed for a couple of years to now in Currency Market, a loion I believe that the most ripe for chart technicals.
Risk management still a big issue.

HOLY SHIT!

You people have blown more money on trading than we've EVER HAD!

Originally Posted by ;

Wow, you demo'ed for 15 years?!
I also started in the 90's (overdue ) and dropped around $70k.
And, cheaper broke r, more trades -- Read that way, seven accounts dropped.

Overall, I've been too rash and helpless, so I failed to grab onto any examples of the other explanations.
12, then: Perfectionism vs a necessity to join broke my assurance.

Trading reside was(/is) like a mediion, so I kept feeding it money till $12.50 on a penny stock could not do it for me .
I broke even the first year I researched chart technicals seriously (2004), then my...

so what is the purpose of wasting your life trading forex should you havent made a penny yet? Gosh man, do u not have anything else to do? Why dont you try buying selling shares. Trust me you will earn a lot more. .

I believe that the account blowing fact is strictly related to expectations (profits expectations of course).
No matter if your expectations are of make 100% a week or 10% per year.
Whenever you have some sort of expectations on your trading, a mind-mechanism just begin working, a strong and dangerous mechanics.

It's exactly the identical mechanism which at one point on your trading allow you to believe I will risk to blown my account if necessary, I do not care anymore about have my account it if I can't reach such expectations.

Appears like a dream mechanism or something not actual, but it's quite real and quite POWERFUL, it act on subcounscious degree so traders are unaware of it at all, and such mechanics trigger account-blowns or large losses.

The first pass to avoid huge losses or account blowns is simply stop having expectations, simply stay in the present instant, do not take into consideration just how much profit/loss have you made until now or just how much you expect/want to make from the near/far future.
Just trade the market, choose what it gives you (profit or loss depend on your knowledge/trading-egy).

And should you ch yourself thinking something like:
that I want to make at least 1 percent now or
that I want to make at least 10% this month or two
damn I should be at 10% right now instead I'm at -5%, etc..
Should you ch yourself using such sort of thinkings, simply quit trading and take a while to relax and meditate about expectations and how do they wipe out of your trading-mind, trading is all about have a balanced and clean thoughts, with no even the very best trading-egy will resultin an account blown.

Some traders have this sort of equilibrium from the commencement of their trading profession, others understand how to achieve it after blown off 10 accounts, some just never understand it and give up.
It doesn't matter, we all start from different things, but with time (experience) everything can be learned.

Merry Christmas!

Two accounts so far, one with 2000 USD and the other with 1000 USD.

Now I have one with 1500 left, started with 5K and hit a bottom of 200 bucks, now going up.

This is the final account I shall use, though it doesn't function, I will probably quit. Been attempting to make this job for close to 3 decades and still can't.

It is the toughest company I have been involved in. Very very very difficult.

Originally Posted by ;

Two accounts so far, one using 2000 USD and the other with 1000 USD.

Now I have one with 1500 left, began with 5K and hit a bottom of 200 dollars, now moving up.

Here is the final account I shall use, though it does not function, I will probably quit. Been attempting to make this work for close to 3 decades and still can't.

It's the toughest company I have been involved in. Very very hard.

Do you feel you are almost there? I have felt this way for quite some time now.

I feel as though I can almost do it...I understand my biggest single recurring mistake and know that WHEN I mend it, I will have a far larger probablity of success.

I would suggest that you develop a more positive mental attitude, possibly hear a success tapes.

Just 1 when I began trading, then dropped 10% to 30% on others while moving out of a broker to another.
It might have been worse, though I continue repeating some of the old mistakes. Now it is alright, I move into panic-mode at -5%

None. I had my trial and error in my demo accounts. Started of sluggish, gaining just a couple pips daily. Got fearful constantly. Now it is alright.