Last few months blow up most Forex accounts

Any body notice that in last 2 months alot of forex accounts being wipeout or in deep trouble ?
Seriously ,Many good experience traders had trouble in last 2 months .
I think We can learn from here :
- Summer is not good time to trade big ( Do small lot in summer or quit completely for July . August ) .
- Summer the trend tend to do one way ,slow but long .
- It is very dangerous and hard to make profit if market slow and less violated .
- No matter what pair you trade , all the times pay attention on USD .
USD rules the market and effective all other pairs .

Any body have more experience about other hard times to trade during the year ? or why most of us have trouble in last 2 months ,Please share .

Here is couple of longest ,best traders in forex market have trouble last 2 months ( I see many many other accounts have trouble too.Seem like every body has trouble in last 2 months ) :

 + https://www.myfxbook.com/members/konstantinfx/konstantinfx-aggressive-live-one-million/706898
+ https://www.myfxbook.com/members/startumbler/johnpaul77/786533
 

I guess summer vacation is the best solution ;)

I was quite surprised too to see Johnpaul's debacle on a few unguarded EUR/USd trades. He didn't use any SL and let the losses mount. I dont know what went wrong with his discipline.

Don't blame summer! It's all about better trading discipline. Control your greed and you'll control your losses!

https://www.myfxbook.com/members/tmk471/sq1/998275

And johnpaul77 yesterday left myfxbook - great...I've followed most of the top traders for last month and my account is 30% down - i only started a month ago - i'm devastated - i can't believe these so called traders have lost so much

steveh2014 posted:
And johnpaul77 yesterday left myfxbook - great...I've followed most of the top traders for last month and my account is 30% down - i only started a month ago - i'm devastated - i can't believe these so called traders have lost so much

I would advice before following some traders blindly you should find out a few trustworthy ones and make personal contacts with them to know more about their trading philosophy. The so called top traders have the pressure of being in the top that so often they break discipline and take more risks to recoup any earlier losses.

In the same last few months I have given positive yields mostly. You can view my accounts. So can't agree market was responsible for their failures.

Cheers and happy trading.

Why have so many accounts blown up in past 2 months?

steveh2014 posted:
Why have so many accounts blown up in past 2 months?

Well ,
I think the summer is slow ,USD wake up finally after 5 years weak .
The USD has been slow long trend all summer .USD rules the market and effect on all other pairs .
Most of traders use buy LOW sell High or grid system . (Some follow the trend but most of traders take profit right away .No one follow the trend for all 3 months summer ) .
Just like US stock market right now .No one can believe that long trend without correction .
For stock market with long 1 way trend than it may be good for many buy and hold investors .
For forex market , slow 1 way long trend , and without violated will wipe out all high return traders accounts and loss on all other accounts .
Well , I guess just like play chess .
Start the new GAME .
Good luck .

tmk471 posted:
Don't blame summer! It's all about better trading discipline. Control your greed and you'll control your losses!

https://www.myfxbook.com/members/tmk471/sq1/998275

You are just idiot new baby on Forex .
Dont show your account and keep your mouth shut if you done have 1 year or longer account .
Forex is not easy wait few more months than you will see if your account being blowup or not .

VN

Please stop being rude to people whom you even don't know. The assumptions you made about traders' behaviour in summer months could be totally ridiculous too. Millions of people engaged in this industry can never think in the same way. Remember for all the sellers in the world there was always a buyer and vice versa. People who have blown their accounts helped their counterparts to make some money. It will be utterly foolish to assume that MOST OF THE TRADERS lose money in forex when the market trends in one way for long long time.

@vinabao

I won't go to your level to respond but you must be a complete idiot to think of me as naive in forex trading after reviewing my strategy and results. With my current strategy and risk management, I'd need to lose 120 consecutive trades just to lose 10% of my account. In other words, I'd need to lose every single trade for 3-4 months just to lose 10% of my account. How many years it will take to blow out my account? I would leave that to your excellent calculation skills. Forex is not for gamblers!

Also, I wish you had some better results to show too!

There are many points which don't make sense to me.

The biggest reason why some have been wiped out I will put it out to the central bank expectations which are dictating the markets across asset classes, not only FX. That's by far the most important thing going over this summer - the getting out of the massive printing room.

But if you disregard that, though you MUST NOT, then:

- "Summer the trend tend to do one way ,slow but long ." ---> If you capture a trend, just go with the trend. Be patient. Why not follow a trend if you actually identified there is a trend? Speaking of the USD, some big fishes must have been following the USD/JPY long trade for over 6-7 months now, if you look at public long/short contracts.
  
- "It is very dangerous and hard to make profit if market slow and less violated ." ---> You mean volatile. Yes, lesser volatility means lesser profits but the opposite is true too. Less volatility means lesser chance of losing more and losing it fast. So that holds against people getting wiped out. But again I disagree. There were several CB driven events that pushed up volatility pretty high over the summer. Check for that the USD/JPY's latest vol going up quite a bit.

@takechance Don't blame Vn, it's not his fault. What else would you expect from a loser?

Is it not true that most traders lose money though? I heard only 10% are profitable...is that not so?

I agree with this: " for all the sellers in the world there was always a buyer and vice versa."

I also agree that someone somewhere is always profiting - I think this has to be so for as you say the winners are created by the losers...if you have one you must have the other...

I don't think it is theoretically possible for everyone to win or lose at the same time - but maybe this is wrong?

Just to add to my last post I still do not understand why so many in last 2 months have blown their accounts for if they buy low and sell high as VN says then when USD is strong buy USDJPY?

All the traders I follow have good track records and are in the top 10 or 20 of myfxbook - yet almost all of them every day for last month and a half continuing to this day are losing...

I am amazed that over a 6 week period these traders who do have a good track record of usually more than 2% each a month (some much higher) can't make any profits...

I am not brand new to trading - this is a very unusual situation - there is probably a reason why this is so but i do not know what it is...

Has the USD really woken up that much after 5 years of being weak? Would this account for these people losing?

EURUSD and GBPUSD have gone down a lot on the charts over last month or 2 - but AUDUSD has gone up...

All the EURUSD has done in last month or 2 is go down after a long period of going up...However decent traders - and i think the ones on myfxbook are decent based on their track record - should be able to deal with a trend change...

Again I am amazed that so many on myfxbook in last 6 or 8 weeks have done badly - why is this so?

Maybe it is usd waking up as VN says - i'm not sure...

Any one else want to comment please?

steveh2014 posted:
Just to add to my last post I still do not understand why so many in last 2 months have blown their accounts for if they buy low and sell high as VN says then when USD is strong buy USDJPY?

All the traders I follow have good track records and are in the top 10 or 20 of myfxbook - yet almost all of them every day for last month and a half continuing to this day are losing...

I am amazed that over a 6 week period these traders who do have a good track record of usually more than 2% each a month (some much higher) can't make any profits...

I am not brand new to trading - this is a very unusual situation - there is probably a reason why this is so but i do not know what it is...

Has the USD really woken up that much after 5 years of being weak? Would this account for these people losing?

EURUSD and GBPUSD have gone down a lot on the charts over last month or 2 - but AUDUSD has gone up...

All the EURUSD has done in last month or 2 is go down after a long period of going up...However decent traders - and i think the ones on myfxbook are decent based on their track record - should be able to deal with a trend change...

Again I am amazed that so many on myfxbook in last 6 or 8 weeks have done badly - why is this so?

Maybe it is usd waking up as VN says - i'm not sure...

Any one else want to comment please?

Yes .
That is what I am talking about .
I understand Forex is zero sum game .
But my side I am talking about is not zero sum game .I am talking about those professional traders I know with track record for more than 1 year and they trade for living .Most of them lost in last 2 months .

@ SQForex (aka tmk471) I just looked at your SQ1 equity curve...it seems you have made 25.94% since the start of this year - this ofc is very good - well done...

Please can you tell me - are you placing your own trades as it seems? My guess is you are not copy trading?

I am copy trading some of the top ranked traders and in last 6 weeks they have done very badly.

I've only been with myfxbook since start of june - all of june until july 23rd went v well but from july 23 until today it is down a lot - sniff.

Do you have any advice for me please?

@ZOOM - you said:

'The biggest reason why some have been wiped out I will put it out to the central bank expectations which are dictating the markets across asset classes, not only FX. That's by far the most important thing going over this summer - the getting out of the massive printing room.'

This is interesting - if you have time to explain your theory further i would be interested to read - thanks.

@VN:

Concerning your comment:

'Yes .
That is what I am talking about .
I understand Forex is zero sum game .
But my side I am talking about is not zero sum game .I am talking about those professional traders I know with track record for more than 1 year and they trade for living .Most of them lost in last 2 months .'

This is exactly what i am trying to understand...do you really think the strong usd is/was the only reason these good traders lost in last 2 months??

Also why has usd become strong recently?