I blew my account today!
Page 1 of 505 123 ... LastLast
Results 1 to 10 of 41

Thread: I blew my account today!

  1. #1
    Hello everyboday here! I hope you are alle fine.

    First of all, excuse me because my english is quite bad as I live in Morocco and I talk only freanch and arabic.

    I would like to post my little story here using the Forex for 2 reaisons wich are:

    1/ I need your advices and ideas.
    2/ I don't want that other people make same mistake I make.

    So like I said from the tille, I blow my accout today after my 2 weeks on investing in reel account, I lost then 500 usd, I understand it is not so much for many of people here but it is much for me.

    Here is same mistake I make:

    1/ I have started using 500 usd and I have used hight size (0,10),(0,50), (0,25), I understand it is quite much for tht capital (500 usd), but as I have litte capital and want to make it big then have usage hight size.

    2/ juste today before I have make 350 usd of benefice with that 500 usd and I had in my balance 850 usd, but didn't take profit and let it run until everybody goes against me !

    3/ today I have taking 4 positions based on a single recomondation which I received on telegram out of a men who's good in trading and like I saw him always using 3,5 lot (he's big account of course) so I though that his analysis will probably only be right as most of time plus I have utilized then 0,20 in 2 positions and market gold and the trend goes against me again! then the account was blowed! !!

    So I would like get you advices please and all thoughts will be good for me. I know that same people may told me that FX isn't for me, but belive me I am very interested and want to find out more and make same cash from that since I don't get decent salary from my job. I operate usually 9-10 hours each day and obtained only 600 usd a month! And that is not enough for sameone that want to live good and who has a family accountable, and then I thought that the FX is the only solution for me to acquire same cash until I learn good then I can trade whole time and escape from my job that I don't even like

    that why I want to find out more about FX and make same cash in but I don't yet find the ideal way until now

    Thanks so much for you all and I'm sorry for my bad english!

    Med

  2. #2
    This will be
    among the most hated posts
    at the background of F.F.

    The Brutal Truth
    Most retail traders
    will never triumph
    in trading.

  3. #3
    Quote Originally Posted by ;
    but as I have litte funds and want to make it big then have use hight size.
    //-----

    hello afgan.... A 500$ account should just trade the smallest lot size... 0.01 sized lot or 10 cents per eurusd pip.... You can double a 500per account in 4 months at 10 cents a pip....

    You must trade small.... You should trade with the trend.... You must do it yourself....

    Are you familiar with the publiion the alchemist.... Santiago was from morroco also.... To create it in Foreign Exchange, there's no better role model than him...h

  4. #4
    Quote Originally Posted by ;
    quote //----- hey afgan.... A 500$ account should just trade the lowest lot size... 0.01 sized lot or 10 cents per eurusd pip.... It's possible to double a 500$ account in 4 months at 10 cents a pip.... You should exchange little.... You should exchange with the trend.... You have to do it yourself.... Are you comfortable with the publiion the alchemist.... Santiago was from morroco also.... To create it in forex, there is no better role model compared to him...h
    Agreed micro-lots (.01). And the Alchemist. Everyone should read that publiion.
    Edit: I am in a 6 percent drawdown, which I anticipate to pull out of soon. The main reason I am at 6 percent is because I just risk 2% capital per trade. Things go against you all the time in this market. You'll be lucky to get two or even three winning trades in a row. If you're risking so much a single trade takes you out, you'll never make it large.

  5. #5
    [quote=BubaYaga;10943195] in 2 weeks you managed to turn $500 into $850 (you created 70% yield in two weeks!) .

    Thank you for you response!


    Yes I make it but I did not trust myself and most of time I think that others are almost always right and my analysis is wrong!

  6. #6
    Quote Originally Posted by ;
    quote //----- hey afgan.... A 500$ account must just transaction the smallest lot size... 0.01 sized lot or 10 cents per eurusd pip.... It's possible to double a 500per account in 4 weeks at 10 cents a pip.... You should exchange small.... You should exchange with the trend.... You have to do it yourself.... Are you comfortable with the publiion the alchemist.... Santiago was from morroco also.... To make it in forex, there is no better role model than him...h
    What that publiion says??

  7. #7
    Let me figure out why you lost your account after only two weeks if it isn't already clear for you, you had no idea what you were doing you're simply gambling! May seem harsh and you might not acknowledge it instantly but I will guarantee you'll need to recognize it sooner or later hopefully sooner instead of before you eliminate everything. And next point you don't follow everyone to generate money or depend on indiors but your self - you need to work hard to develop your own method it is likely to take years!!! 5 years before you start making a dime it is tough work and will take a long time if you continue persisting your reliance on RSI MA or Nial the PA guru of this kind with additional high leverage you'll never make it ever after 5 decades.

    Clear out the mess and study the naked chart the PA and the patterns develop your own method from scratch proceed after the ideal understanding. I wish I arrived here with the right expectations, you are not and your heads in the clouds. You should return to demonion and remain there for a long time at least before risking any money online - focus on creating a proper egy that certainly defines a directional bias you should take on any given pattern entry and exits specified accordingly be orderly but also elastic - it is a tough nut to crack. I'm just wondering if it's possible to push it for 5 years at least without a monetary gain most probably you'll lose I went through two mini accounts myself in my first 3 decades. And once you have developed a proper method not only few lucky stripes you start up a reside and start trading with the tiniest lot. It is a long road - and you'll not make a huge sum in the beginning, because without appropriate money management even if you've got a proper method you'll still lose your funds.

    Now go sit somewhere having a cup of tea or coffee and think about what I have just wrote here, if you would like to dismiss it entirely and think you're definitely going to be a special case (like I did and likely many others) go ahead no ones stopping you - however if you're smart no counter take a step back and actually contemplate about it all if you're willing to devote the next 5 decades of your life going after something which might not bring much for your own life but rather a ton load of headaches if you still think you have to do this then get it done the ideal way!!

  8. #8
    Quote Originally Posted by ;
    Hello everyboday here! I expect you are alle fine. To begin with, excuse me as my english is quite bad as I live in Morocco and I talk only freanch and arabic. I'd like to post my small story here using the Forex for two reaisons wich are: 1/ I need your advices and thoughts. 2/ I don't want that other men and women make same mistake that I make. So as I mentioned from the tille, I blow my accout today after my two weeks on trading in reel account, I dropped afterward 500 usd, I understand it is not so much for most of people here but it is much for me personally. This exactly the same error that...
    Tell me about your presentation trading experience; how many moths you used the demonion? What was about your demonion trading result?

  9. #9
    Quote Originally Posted by ;
    quote What that publiion says??
    //--

    hey afgan.... The alchemist and the old king said, in the event that you truely need some thing.... If you truely need some thing and will willingly walk from tangier into the pyramids.... In case you truely view it as your destiny.... The entire world will come together to assist you in finding your destiny....

    However, your still going to have to make that long walk into the pyramids your self.... And their are thieves all along the way.... And in the end you'll see it where you least expected....
    //-----


    trade small.... Trade the trend.... Read the novel...h

  10. #10
    And when you are being assaulted by one of those thieves, the thief will tell you you are foolish for following you dumb dream. And he will tell you about his dream, which he never bothered to follow, because he isn't so ridiculous as to think in ridiculous dre. And after that you're able to stick to the burglar's dream, and make your dre come true.

    Yeah, that is ideal. I read the book. .

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners more information