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How many trading accounts have you blown?
Membre depuis May 22, 2017
posts 85
Sep 30, 2022 at 22:44
Rococo_XVII posted:master800ve posted:Rococo_XVII posted:master800ve posted:Rococo_XVII posted:master800ve posted:Rococo_XVII posted:
I blew one account. It was more then 4 years ago. I decided to open real one and had about $3000. And because of my huge mistake I lost almost all my capital. After that I became very cautious.
Well it can happen to anyone.
Blowing up accounts taught me a lot about myself and trading in overall.
Hope you are trading better these days! Rock on!
Thank you. For now I am really feeling more better than any time. The loss helped me to be more attentive. And careful. Now I got back what I once lost. And very happy about it.
I'm very glad to read that! Keep up the good work!
Thank you.
And what about you? Did you recover after blow the account? How much time did it take?
Yeah I recovered, took a few months, wasn't easy. But at least I accomplished my goal.
Wow. This is great. What is your goal? Is it about 10 000 of profit during this period?
Well When I lost everything it was around 40k and now Im up on 65k, my profits they go from 3:1 to 2:1, If there is a market condition that will allow to do even more I'll hop on that.
And I became consistent on my drawdowns, I never let my account go below 6% on a trading session, if that happens I'm out of that trading session.
It's just weird how just the mindset settles when you have been a lot through the trading arena.
As far as goals go, well I hope to reach 100k at some point. I don't mind how long it takes, just want to get there.
What's your goals?
F*** it we ball!
Membre depuis Mar 31, 2021
posts 222
Oct 03, 2022 at 12:56
master800ve posted:Rococo_XVII posted:master800ve posted:Rococo_XVII posted:master800ve posted:Rococo_XVII posted:master800ve posted:Rococo_XVII posted:
I blew one account. It was more then 4 years ago. I decided to open real one and had about $3000. And because of my huge mistake I lost almost all my capital. After that I became very cautious.
Well it can happen to anyone.
Blowing up accounts taught me a lot about myself and trading in overall.
Hope you are trading better these days! Rock on!
Thank you. For now I am really feeling more better than any time. The loss helped me to be more attentive. And careful. Now I got back what I once lost. And very happy about it.
I'm very glad to read that! Keep up the good work!
Thank you.
And what about you? Did you recover after blow the account? How much time did it take?
Yeah I recovered, took a few months, wasn't easy. But at least I accomplished my goal.
Wow. This is great. What is your goal? Is it about 10 000 of profit during this period?
Well When I lost everything it was around 40k and now Im up on 65k, my profits they go from 3:1 to 2:1, If there is a market condition that will allow to do even more I'll hop on that.
And I became consistent on my drawdowns, I never let my account go below 6% on a trading session, if that happens I'm out of that trading session.
It's just weird how just the mindset settles when you have been a lot through the trading arena.
As far as goals go, well I hope to reach 100k at some point. I don't mind how long it takes, just want to get there.
What's your goals?
My goal for now is reaching 100k to the end of the year. I hope to reach it. Now my capital is $87 770. I always try to reach about 2-3% per trade. And my drawdown now is about 8%.
But I want to improve my trading system and increase my capital twice next year.
Think thrice before opening an order
Membre depuis May 22, 2017
posts 85
Oct 03, 2022 at 16:00
Rococo_XVII posted:master800ve posted:Rococo_XVII posted:master800ve posted:Rococo_XVII posted:master800ve posted:Rococo_XVII posted:master800ve posted:Rococo_XVII posted:
I blew one account. It was more then 4 years ago. I decided to open real one and had about $3000. And because of my huge mistake I lost almost all my capital. After that I became very cautious.
Well it can happen to anyone.
Blowing up accounts taught me a lot about myself and trading in overall.
Hope you are trading better these days! Rock on!
Thank you. For now I am really feeling more better than any time. The loss helped me to be more attentive. And careful. Now I got back what I once lost. And very happy about it.
I'm very glad to read that! Keep up the good work!
Thank you.
And what about you? Did you recover after blow the account? How much time did it take?
Yeah I recovered, took a few months, wasn't easy. But at least I accomplished my goal.
Wow. This is great. What is your goal? Is it about 10 000 of profit during this period?
Well When I lost everything it was around 40k and now Im up on 65k, my profits they go from 3:1 to 2:1, If there is a market condition that will allow to do even more I'll hop on that.
And I became consistent on my drawdowns, I never let my account go below 6% on a trading session, if that happens I'm out of that trading session.
It's just weird how just the mindset settles when you have been a lot through the trading arena.
As far as goals go, well I hope to reach 100k at some point. I don't mind how long it takes, just want to get there.
What's your goals?
My goal for now is reaching 100k to the end of the year. I hope to reach it. Now my capital is $87 770. I always try to reach about 2-3% per trade. And my drawdown now is about 8%.
But I want to improve my trading system and increase my capital twice next year.
We are going to get there! Rock on!
F*** it we ball!
Membre depuis Oct 04, 2022
posts 3
Oct 04, 2022 at 17:21
I have blown 4 but thanks to that guy on twitter I will not be able to blow any :D
Membre depuis May 22, 2017
posts 85
Oct 05, 2022 at 15:04
liveking35 posted:
I have blown 4 but thanks to that guy on twitter I will not be able to blow any :D
Its a hard lesson but a worthy one!
F*** it we ball!
Membre depuis Sep 06, 2022
posts 26
Nov 11, 2022 at 07:07
I haven’t really blown any live trading accounts. When I was a beginner, I would take a break from trading once I see the drawdown increasing beyond my set limit. That way I am able to save my account before it’s blown. I think even a new trader can trade without blowing up their account if they pay enough attention to risk management.
Membre depuis Aug 05, 2021
posts 394
Dec 09, 2022 at 14:42
liveking35 posted:
I have blown 4 but thanks to that guy on twitter I will not be able to blow any :D
What guy on Twitter? Can you elaborate on this? I'm curious lol
Membre depuis Jan 25, 2022
posts 89
Feb 08, 2023 at 06:11
There was only 1 and I don't think I will make the same mistake again.
Membre depuis Mar 31, 2021
posts 222
Mar 01, 2023 at 12:41
princesajir posted:
There was only 1 and I don't think I will make the same mistake again.
That is great you made a conclusion and corrected the mistake. It is always worth learning from people like you. Unfortunately, it does not always work out the way you want. But not many people can accept and correct the situation.
Think thrice before opening an order
Membre depuis May 22, 2017
posts 85
Mar 13, 2023 at 15:25
utraeg posted:
I have just blown one, $4000. back to demo
That's probably for the best!
F*** it we ball!
Membre depuis May 22, 2017
posts 85
Mar 13, 2023 at 15:28
Scortation posted:
I haven’t really blown any live trading accounts. When I was a beginner, I would take a break from trading once I see the drawdown increasing beyond my set limit. That way I am able to save my account before it’s blown. I think even a new trader can trade without blowing up their account if they pay enough attention to risk management.
I agree, but I think that when you are beginning and figuring out your risk profile, its ok to blow up accounts, that's how you know your limits and if you are overdoing the positions.
At least that's how I set my risk profile, a lesson learned the hard way.
F*** it we ball!
Membre depuis May 22, 2017
posts 85
Mar 13, 2023 at 15:29
Chrisewon posted:
I have blown 2, 3200$
No worries!
You will come back from it eventually, just don't make it a habit to blow up accounts hehe.
F*** it we ball!
Membre depuis May 22, 2017
posts 85
Mar 13, 2023 at 15:29
HeavLeighGill26 posted:liveking35 posted:
I have blown 4 but thanks to that guy on twitter I will not be able to blow any :D
What guy on Twitter? Can you elaborate on this? I'm curious lol
I'm very curious as well!
F*** it we ball!
Membre depuis May 22, 2017
posts 85
Mar 13, 2023 at 15:30
Rococo_XVII posted:princesajir posted:
There was only 1 and I don't think I will make the same mistake again.
That is great you made a conclusion and corrected the mistake. It is always worth learning from people like you. Unfortunately, it does not always work out the way you want. But not many people can accept and correct the situation.
True that!
Correcting this sort of thing takes discipline and a lot of hard work!
F*** it we ball!
Membre depuis Mar 31, 2021
posts 222
May 10, 2023 at 14:18
You know, I created a thread about what tips experienced traders can give. And more and more often there flashes the idea of using an EA. What do you think? Can the EA correct mistakes in trading?
Think thrice before opening an order
May 11, 2023 at 07:26
Rococo_XVII posted:
You know, I created a thread about what tips experienced traders can give. And more and more often there flashes the idea of using an EA. What do you think? Can the EA correct mistakes in trading?
Why do many traders say that self-discipline, emotional control, and avoiding greed are important?
Because being self-disciplined and controlling emotions helps you stick to your trading plan and strategy, stay clear-headed, and avoid making decisions based on emotions.
When the market is volatile, you can make rational decisions without being influenced by emotions.
However, few people can achieve this level of self-control, as humans are emotional beings.
It takes time and exceptional self-control to achieve this level of discipline.
On the other hand, an EA is a robot that can only execute trades based on pre-programmed strategies.
It doesn't have emotions, which is both its strength and weakness.
Its lack of emotions means that it can strictly follow the trading plan without being influenced by emotions.
However, in the case of sudden market events that cause one-sided moves, it cannot adapt and still follows the programmed commands.
Therefore, manual intervention is necessary at times.
The job of an EA is to trade for profit by exchanging time for money.
It lowers the threshold for becoming a successful trader.
In my opinion, self-discipline, emotional control, avoiding greed, and strong mental toughness are qualities of successful traders.
The market always has unpredictable fluctationes，risk management is always the number one priority
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