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:
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.
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
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.
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.
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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.
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