Only two
How many consistently profitable traders around? 87 replies
How many of us are already making profit consistently? 49 replies
Making money consistently from the markets 7 replies
How Many Accounts Did You Blow Before You Got It Right? 213 replies
Have you ever blown an account? (Poll) 3 replies
DislikedI myself have blow up 3 real account before start to do well in forex market.. it is very painful..but now i am doing ok..
The worst one is my usd1000 mini account blow in 2 trading days for trading gbp/jpy.
The main reasons for it.....are poor money management, and psycology
How about you guys....i just curiuos to know..
Did you consistantly making money from the start of opening live account? How many accoount have you blown if any?
Or tell us your experience before u consistantly profitable..Ignored
DislikedChicky's history:
1. Started trading: early 1990s ...
4. Started live trading: 3 years ago
5. Blown number of real accounts: 10 (ten)
6. Real money blown: $70,000+...
...
12. Some other reasons of blown accounts: Lack of money management/fear/greed/impatience
13. Consistently profitable since: No such thing exists or can exist.
However, make more than I lose on yearly basis.Ignored
DislikedWow, you demo'ed for 15 years?!
I too started in the 90's (late) and lost over $70k.
And, cheaper broke r, more trades -- Read that way, seven accounts lost.
Overall, I've been too rash and careless, so I failed to catch onto any instances of the other reasons.
12, then: Perfectionism versus a need to join broke my confidence.
Trading live was(/is) like a drug, so I kept feeding it money until $12.50 on a penny stock couldn't do it for me anymore.
I broke even the first year I studied chart technicals seriously (2004), and then my...Ignored
DislikedTwo 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 last account I will use, if it doesn't work, I will probably quit. Been trying to make this work for almost 3 years and still can't.
It's the most difficult business I have been involved in. Very very very hard.Ignored
DislikedFor what it's worth, here's my view on account blow ups:
http://www.forexfactory.com/showpost...5&postcount=76
PS - I'd respectfully like to call BS on the above post #38. Too many reasons to list here.Ignored
DislikedFor what it's worth, here's my view on account blow ups:
http://www.forexfactory.com/showpost...5&postcount=76
PS - I'd respectfully like to call BS on the above post #38. Too many reasons to list here.Ignored
DislikedGreat post as usual.
Too add
#8 LOVE your small losses, embrace them as you are doing what your are meant to be doing and minimising the losses, your are taking account of the fact that this time around you were wrong. If you can take comfort in taking small losses then your account will last longer for you to get it right. Also wipe the loss from your emotion memory. Holding onto it will usually lead to revenge trading or just looking to make it back. Let it go and move on
The old saying let your profits run: let them run but once you are...Ignored