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

I've blow up 3 actual account before beginning to do well in forex market. . It's very painful..but now I am doing fine. .

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

The main causes of it....are poor money management, and psycology

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

Can you consistantly making money from the beginning of launching account? Many accoount are you dismissed?

Or tell us your expertise before consistantly profitable. .

Originally Posted by ;

I myself have discounted two acc before this
all this because of poor management and greed
and am starting to start all over again rite now
expect it didnt fails me following that
such an experience

Don't stop trying. .

As I have experienced the pain before, my advice to u is to trade demo until u turn into profitable in every demo accounts and then only finance your actual acount for the next time.

Good luck to you. You did better I am 3 you two.

The achievement don't come without pain (at least for me personally. .)

Me, ve blown trice on mini acc (FXCM), GBP/JPY n AUD/USD. As u guys perhap, cope with plogical role, greed, poor timemanagement not as acknowledgement following daily finance news n undiscipline. Now I'v to start trading slowly with less than $2H for tomorrow, hopefully fortune upon me to develop somewhat n a little nowadays.

Originally Posted by ;

me, ve blown trice on mini acc (FXCM), GBP/JPY n AUD/USD. As u guys perhap, deal with plogical role, greed, inadequate timemanagement not as acknowledgement following daily finance news n undiscipline. Now I'v to begin trading gradually with less than $2H for tomorrowhopefully luck upon me to grow a little n a little nowadays.

Good luck in your 4th attemp. We're draw...

Currently I'm trading with my reside funds equilibrium from acc 2
about 2 dollars abandoned ,out of 900 at the start
in order I only trade based on usd
so I predict usd will always weak
and so if I play with ucad or gu
I siding sell and long
us having a prob of crude oil rite now
and I dont think could be settle in brief time
so far no prob with my egy
besides, I practice using SL as my defense as I dont practice before those 2 ago acc
that's a result of my confidence level which the pair will be back to regular
but what I could say, it still go against us
until I got a margin call, what a day
but still got a long way to experiment it
what would u guys think bout my opinion

but rite now, I'm still not look like performing trade
cos once I make profit
a day later I got a SL rather, or perhaps an hour after
usually those heading to SL is the only I'm going against my thinking
when I'm placing buy at ucad and brief at gu
apart from my opinion, sometimes I fell that these pair are much too overbought or oversold
thats why I'm contrary to my first opinion

there goes my own profit

Only a question. Why would you open a real account when you get a clinic account to play until you have mastered 1. A egy two. Good money management, 3. Plogy, and 4. When to exchange and if not to trade?

I'm no expert and have suffered a few losses, but haven't dismissed an entire account. Only a few tips for you guys which are thinking about starting a real account. Look for the forums and READ,READ, READ subsequently PRACTICE, PRACTICE, PRACTICE with a demo account. No one gets all the pips. Trade exactly what you SEE and not what you THINK!

Another suggestion. If you exchange the (GBP/JPY) between 2-6 am, wait for the trend to come up with and you can make 100 pips per nighttime easy, just exchange your system and do not get greedy.

Originally Posted by ;

Just a question. Why can you open a real account when you get a practice account to play with until you've mastered 1. A egy 2. Proper cash management, 3. Plogy, and 4. When to trade and when not to trade?

I'm no expert and have suffered some losses, but have not dismissed a whole account. Just a couple tips for you guys that are thinking about starting a real account. Search the forums and READ,READ, READ then PRACTICE, PRACTICE, PRACTICE using a demo account. No one gets all of the pips. Trade exactly what you SEE and not what you believe!

Another tip. If you trade the (GBP/JPY) between 2-6 am, await the tendency to come up with and you can make 100 pips a night easy, just trade your system and don't get greedy.

Demo account is simply for us to get used to the platform. Knowing where to click(setting trade, tools, alarm, etc etc) and all. However, for trading practise, it's useless. Espicially as it pertains to plogy, as you say above. Alot of novels talks about greed and fear. Yes, I do agree that anxiety is that our enermy, but greed? I dont agree with that. Greed might not be such a bad idea. Lets take this for a good example:

Assume that you open a $10k account. How long would it take to double your account? Keep in mind 10k is a small volume. How could you ever make 6-7 digits with in, say 10 years if you continue risking 1-2%/trade? An are you sure you system will still be operating say 5 years from now? Beeing greedy with combination of some intelligence is the only way IMO. Yes, you will loose in the future if you continue risking high. That is the reason why intelligence is nessecery. There are time you need to take advantage of the market(when it's trending) and you will find time you need to take cover. The point is, greed isnt nessecery a bad thing.

Anyways..back to the subject. . .guys....Even if we have no tutor to edue us about appropriate trading, nevertheless we will need to pay some fee (ya know what I mean?) . How much we must pay, it's all up for us. I havent mention how much time it will take us to become successful, did I? Below 24 months is bull. Even a rocket scientist probably will loose

I'm not saying that I'm already effective but I know people who are successful and unsuccessful. And I could tell the diffrent. Its obvious. I learn alot from this both parties. But, I'm curious tho. . .why are they some unsuccessful people pretend to be THE KING OF TRADING? Watchout newbies for this kind of people. They are all around. I myself got caught by this type when I first began trading. Result: BLOW MY FIRST ACCOUNT.

Thanks for reading.

I have blow up 3 accounts with 3 diferent brokers -forex.com,cmsfx,saxo bank.Was about 6000$.Forex. Com was the worst broker I ever tried.But today I'm doing fine with good system

Originally Posted by ;

Demo account is only for us to get used to the platform. Knowing where to click(setting trade, tools, alert, etc ) and all. But for trading practise, it's useless. Espicially as it pertains to plogy, as you mention above. Alot of books talks about greed and fear. Yes, I do agree that anxiety is that our enermy, but greed? I dont agree with this. Greed may not be such a bad idea. Lets take this for an example:

Assume that you open a $10k account. How long would it take to double your account? Remember 10k is a little amount. How can you make 6-7 digits with , say 10 years if you keep on risking 1-2percent /commerce? An are you certain you system will still be working state 5 years from today? Beeing covetous with combination of some intelligence is the only way IMO. It's true, you will loose in the future if you keep on risking high. That's why intelligence is nessecery. You will find time you want to make the most of this market(if it's trending) and you will find time you need to take cover. Bottom line, greed isnt nessecery a bad thing.

Anyways..back into the subject. . .guys....Even if we don't have any tutor to teach us about appropriate trading, still we have to pay some fee (ya know what I mean?) . How much we have to cover, it's all around us. I havent mention how long it will take us to become successful, did I? Below 24 months is bull. A rocket scientist likely will loose

I am not saying that I am already successful but I know those who are successful and unsuccessful. And that I could tell the diffrent. Its apparent. I know alot from this both parties. But, I am curious tho. . .why are they some unsuccessful men and women pretend to be THE KING OF TRADING? Watchout newbies for this sort of individuals. They are all around. I myself got captured by this kind when I first started trading. Effect: BLOW MY FIRST ACCOUNT.

Thank you for reading.

--TNT--

I agree with you 100%. Best case, find something which is right for you and keep it up.

Originally Posted by ;

I agree with you 100%. Best instance, find something that works for you and keep it up.

I agree with you also. Its like you buying a piece of property and wait for as long as you can. It'll pay off in the end or atleast in most cases.

BTW DollaBill, I enjoy your avator.

Thanks.