3 Mistakes That Nearly Wiped Out My Forex Account
When I first started trading, I thought all I needed was a good strategy. But the truth is, my biggest losses came from bad habits:
1. Overleveraging – I kept increasing lot sizes just to recover losses.
2. Chasing setups – If I missed a move, I jumped into the next candle without a plan.
3. Ignoring risk/reward – I’d risk $100 to make $20, and it caught up with me.
Once I fixed these, my trading slowly started improving.
Which of these mistakes have you made too? Or do you have another one that almost killed your account?
I actually share some of the safe setups and my personal trades in a small Telegram channel for free. If you’d like me to send you the link, just drop a comment saying Interested.
Wilsonfx5 posted:When I first started trading, I thought all I needed was a good strategy. But the truth is, my biggest losses came from bad habits:
1. Overleveraging – I kept increasing lot sizes just to recover losses.
2. Chasing setups – If I missed a move, I jumped into the next candle without a plan.
3. Ignoring risk/reward – I’d risk $100 to make $20, and it caught up with me.
Once I fixed these, my trading slowly started improving.
Which of these mistakes have you made too? Or do you have another one that almost killed your account?
I actually share some of the safe setups and my personal trades in a small Telegram channel for free. If you’d like me to send you the link, just drop a comment saying Interested.
The mistakes you listed are real — overleveraging, chasing, and bad R:R blow up more accounts than anything else. But I have to be honest, when someone immediately plugs a Telegram group it feels less like sharing experience and more like fishing for sign-ups.
Traders can learn these lessons without needing another “free signals” channel. In the end, the best fix is proper risk control and journaling your trades, not relying on someone else’s setups.
Wilsonfx5 posted:When I first started trading, I thought all I needed was a good strategy. But the truth is, my biggest losses came from bad habits:
1. Overleveraging – I kept increasing lot sizes just to recover losses.
2. Chasing setups – If I missed a move, I jumped into the next candle without a plan.
3. Ignoring risk/reward – I’d risk $100 to make $20, and it caught up with me.
Once I fixed these, my trading slowly started improving.
Which of these mistakes have you made too? Or do you have another one that almost killed your account?
I actually share some of the safe setups and my personal trades in a small Telegram channel for free. If you’d like me to send you the link, just drop a comment saying Interested.
It seems that you didn't even back test your strategy (if you even had one in the 1st place), so how do you know it will work in the long run?
Yes... trading is always a risk. You can lose, but you can also win. I lost count several times, but then I continued trading again. It's exciting.
Good post — those are all classic early mistakes, and I’ve made every one of them too. Overleveraging was probably the worst for me, especially when combined with chasing and emotional revenge trades. Once I started automating my strategy and letting the algo handle execution, things got more consistent.
My own EA has been live for years, trading XAUUSD only. It’s now up 916% overall, and made 100% in the last 12 months alone. Took 3.5 years to build and tune, but it was worth it.
So yeah, fixing habits and sticking to a process makes all the difference. Whether manual or algo, discipline always wins.
