EURUSD (by qingye_shu) Quick Stats
The user has deleted this system.
Rating: Empty Star Empty Star Empty Star Empty Star Empty Star
EURUSD Discussion
Previous 1 2 Next
moneybotfx

Member Since Sep 14, 2009  87 posts Join and Enjoy Thousands of Effort Free Pips (moneybotfx) Jul 15 2011 at 07:28
MARTINGALE MINDS BEWARE: SEE ANOTHER ACCOUNT DESTRUCTION.
This is what happens to all who use no proven trading strategies and expose to SUPER HIGH account loss risks.
They demonstrate easy unrealistic and not sustainable monthly performance in order to drive newbies in.
Then the result is to destroy accounts. We are not talking about controllable DD or A month in Loss which is part of long term profitable trading. We are talking for destruction, as they usually trade over-leveraged and without SL, and increase LOT SIZING after entry and without a good plan and market advantage..

Case Study for all.
This Person has Deleted accounts on Public Signal Offering. Beware!

Havea look at FX Robot developer Forum and see his previous advertising for signals:

http://www.forex-tsd.com/rentasignal-service-elite-section-discussion/29782-just-eurusd-just-eurgbp-4.html

He deleted This
http://www.myfxbook.com/members/qingye_shu/just-eurgbp/119806

He Also deleted this
http://www.rentasignal.com/signal/view/34001

BUT you CAN SEE HIS ACCOUNT DESTRUCTION HERE, WHILE HE WAS OFFERING MARTINGALE SIGNALS:

http://www.rentasignal.com/signal/view/34001

http://www.rentasignal.com/signal/view/34007

<a href=''/></a>

<a href=''/></a>




Wise discuss Ideas, Average comment on events, Silly gossip Others
moneybotfx

Member Since Sep 14, 2009  87 posts Join and Enjoy Thousands of Effort Free Pips (moneybotfx) Jul 15 2011 at 07:33

Sorry the deleted link for EURUSD at my fxbook is

http://www.myfxbook.com/members/qingye_shu/just-gbpusd/119804

Wise discuss Ideas, Average comment on events, Silly gossip Others
qingye_shu

Member Since May 13, 2011  6 posts qingye_shu Jul 15 2011 at 10:20
Yes, I blown my account on eurusd, and have loss about 50% with eurgbp, that's true. and I'm just going to move the money together for trading. but for now, I have to trade on these account for more time.

sit and see what will happen in the future.

qingye_shu

Member Since May 13, 2011  6 posts qingye_shu Jul 15 2011 at 10:32
qingye_shu

Member Since May 13, 2011  6 posts qingye_shu Jul 15 2011 at 10:32
here is the link to the 3 account.

qingye_shu

Member Since May 13, 2011  6 posts qingye_shu Jul 15 2011 at 10:35
I had a good risk control in the last 3 months. but just a mistake destroyed all my effort.

too much confidence, that's why I added more trades when it is losing.

I will try to get the account back, just as what i did in the last 3 months.

let's see what would happen in the future.

smart_hasan

Member Since Jul 14, 2011  7 posts smart_hasan Jul 15 2011 at 17:34
what about your customers in future ? what if you had a customers with this mistake ?

come on shu..this is not what Real Trader doing

learn from your mistake and move on my friend..but please remember..you trade with other's money and they may have a plan in their life , maybe it's their families money..keep that in ur mind when you open trade after trade

god bless you


moneybotfx

Member Since Sep 14, 2009  87 posts Join and Enjoy Thousands of Effort Free Pips (moneybotfx) Jul 15 2011 at 20:11
qingye,

smart_hasan has right.

You missed the basic rule of trading Money Management.

If you had declared a minimum capital of $5000 instead of $500 you would not be in this position right now.
You would have just a normal DD or drop of 10-20%.. Even with $2500 you would have a severe hit but no account loss.
But You wanted to gain attention from newbies and show quick account doubling...

You had a small starting capital declared , in order to produce unrealistic monthly performances that are not sustainable long term.
The customers pay the price by trading over-leveraged and loosing accounts.
It has be done again and again, either managed accounts, signals or robots you name it.
They try to get a few hundrent - thousands pips and make increases like 200%, 1000% or even 10000% ..
Soon or later Account BOOM!
Also if you trade without exit or disaster plan or SL you risk account.
What if you loose connection, or a market crisis produce a rapid drop of 1000s of pips?

Money Management Advantage Exercise. --> All wanabe good traders do the test.

 Take a coin and play tails on EURUSD buy and sell otherwise. Go for the same 5, 10 or 20 pips a time. That is SL and TP to be the same distance 1:1.

Now will you make money?
You must be able to make money on MM alone. Without any other real advantage of a good trading method.

This is a good exercise for all newbies.

In this test fail most PHD , (Doctorate) students. (An expirement has been made by a trader, google for it)

Solution:
Decrease your lot size while your are in loss, increase it proportionally while capital grows.
After every and each winning abd loosing trade.
Test with a demo account of $100.000 in order to have more accurate lo sizes.



Wise discuss Ideas, Average comment on events, Silly gossip Others
qingye_shu

Member Since May 13, 2011  6 posts qingye_shu Jul 15 2011 at 21:24
hi, smart-hasan and moneyborfx,

you both are right.

I think I did a really good job in the first 3 months when I had a small balance, and for the last week, when the balance was over $4000, I wanted to gain more, so, betrayed my rules and money management, that's the reason why the account blown up.

any way, thanks for your advice.

I will not make this mistake again.

Shu

smart_hasan

Member Since Jul 14, 2011  7 posts smart_hasan Jul 15 2011 at 21:37
Shu..
you are good trader and you had very good performance before

but such mistake can hurt you so badly especially if you want to make real good business with clients and managing accounts

you just started your service and you need to stick with strong rules to continue your success

we'll follow you and I'll subscribe to your service if you really will avoid ' Hold and Hope ' method

let's forget about the past and look into the great future

Regards,
Hasan

Previous 1 2 Next
Tools Community Reviews Platform Company Support
Economic Calendar Community Brokers Features About FAQ
Forex Broker Spreads Systems Expert Advisors API Blog Help
Streaming Forex News Strategies Signal Providers Translations Twitter Contact Us
Community Outlook Contests VPS Services Mobile Facebook Report A Bug!
Widgets EA Programming        
RSS          

Site Map  |   Terms & Conditions  |   Privacy Policy
©2011 Myfxbook Ltd. All Rights Reserved.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
*GFT is a sponsor of myfxbook.com for advertisement purposes only. GFT does not endorse any other products, services, or companies represented on myfxbook.com. The views of myfxbook.com and all other parties contained therein are not necessarily those of GFT, and GFT makes no warranty as to the accuracy of information provided.