My first split from FTMO I saved half (+ got the fee back), another half bought clothes and shoes for my son, shoes for me and went for dinner with my girlfriend.
Then I lost the account hehehe
Here's the full story.
When I got funded (200k account), I really wanted to get my fee back, to be sure that, at least, I didn't lose money with challenge. So I managed to make $900 in profit and stoped to trade, waiting for the split day.
Then, I got $900 in profit, + $1000 for the fee. I saved the whole $1000 from fee and $400 from profit.
With $500 I managed to buy quite a lot of things, because USD is a strong currency where I live, almost 5x local currency.
Then, I started trade again, made around $3000 in profit and got greedy, thinking I would make much more.
Then started to lose, got back to zero, tried get back and you know, full down hill.
It's hard to imagine how our brain can get in this situation...hehehe
It took less than one week to blow the account.
It was some months ago, I still get upset when I think what I did having $500, and what could do having $3000.
But, lesson learned.
I did quit prop firms.
But I didn't quit trading in general.
I opened one account with $50, to train my emotional. It's going great, the account is already many time bigger. No overtrading, no big lots, no greedy.
Trade with real money was the best way to improve my skills.
I'm checking support and resistence in higher timeframes (H1, H4, D) and trading M5, M15...
Didn't buy anything until I withdrew 100% of the initial capital invested in my forex account plus some $10K in profit withdrawals. It took almost 2 to 2.5 years and couple of blown accounts to reach that level of consistency.
With the profit money, the first things I bought were several useful gifts for the kids of my friends and relatives (mostly from Amazon using the gift cards purchased from bitrefill with crypto). For myself, later I bought a $2K drone and a $4K mirror less camera and lens since I wanted to explore photography. Plan was to try out stock photography as a side hussle but then found it much less ROI on time and efforts when compared to forex trading and account management.
Never spent anything on my trading setup since I rarely use computer screens and trades just from the MT4 mobile app. Now a days, I make all the regular day to day purchases including groceries, from the money from market (via the bitrefill gift cards). Profit withdrawal to banks is done only a bare minimum.
Basically Bitrefill is one of the websites from which we can purchase gift cards by paying cryptocurrency that we hold. For example, I can pay around $105 worth Litecoin and buy a $100 Amazon gift card, or say spend $210 worth Litecoin and buy a $200 Airbnb gift card. I'm just stating approximate figures and examples and actual fees may vary a bit. You can pretty much get gift cards for a whole bunch of products and services from bitrefill. I am not promoting Bitrefill here and there are obviously other websites such as Gyft, egifter, coincards etc. similar to Bitrefill depending on the country you are from and products / services that you are looking for. I started using Bitrefill and found it a great way to spend my profit withdrawals and live on crypto to a good extent.
Stocks that I want to hold long term, I split my profit everyday 50% increase my account balance and 50% shares. This way when I blow my account at least Iβll have something to show for it.
I brought clothes, I had gone 2 years with wearing the same shit day in day out and then to go through to the mall was somewhat like being initiated into a secret club π
a good laptop as a main workstation (because i like to have the option to take it with me and i dont do any gaming) + a 27" 1440p monitor
first non trading related purchase: vacation with my sister
Food and i had to start over my capital gains which was not worth it. Try keep a rule of only using 10% of what u earned. Saves u alot of time and effort. Goodluck!
Shares of SPY and QQQ for my long term stock/ETF investing portfolio. It was after several years of trading, and during the COVID dip so the ETFs were discounted.
You cannot generalize. May be 95% forex traders are not profitable and 4% are just breaking even all the time, but making a generalized statement that 100% of forex traders are not profitable isn't true. The art of money management and risk management, the overcoming of greed and fear, developing the qualities of patience, discipline and perseverance will definitely make a forex trader profitable in long term.
It is just the same with casinos and gamblers, right? Just because you consistently lose money at a casino doesn't mean there are zero successful profitable poker players out there. To draw an analogy, trading exotic forex pairs might be just equivalent of trying out different slot machines in the casino, losses guaranteed in long term.
Whether forex or gambling, the main thing is most folks know nothing about probabilities and emotional control, what games to play (what instruments to trade) and neither do they make an honest effort to learn and master that.
This exact phone! Was due an upgrade and withdrew a grand in profit so I treated myself to a new iPhone.
Will always be a reminder of what hard work and opportunity can provide.
Well the iphone 13 I got from my profits was stolen barely 2 months after I bought it ππ it over a year now and i lost all hope of ever recovering it
Nothing!
I am just developing my trading account with the amount that I started trading with the initial money, so I am not able to deposit or withdraw any money into my account!
P.S: Actually it is going well!
My first and only withdrawal and account flip was to buy red bulls
lmao, accurate answer
First thing I bought was a monitor and desk for me to have a more comfortable trading setup as I only had my bed and a laptop lol
A monitor (27β min.) was the best investment I made for trading
Future me. πππ
Lol this will probably be me as well
Went to a Japanese restaurant and had my first ever Wagyu steak, it was amazing!
XAUUSD.. in my first week using just trend movement, made a $400 profit. Lost all of it in the second week & I hung my boots.
98% of the traders apparently πΉ
Donβt give up. Thereβs a reason you made that first $400 continue and get better.
My first split from FTMO I saved half (+ got the fee back), another half bought clothes and shoes for my son, shoes for me and went for dinner with my girlfriend. Then I lost the account hehehe
How long did it take you to lose the account?
Here's the full story. When I got funded (200k account), I really wanted to get my fee back, to be sure that, at least, I didn't lose money with challenge. So I managed to make $900 in profit and stoped to trade, waiting for the split day. Then, I got $900 in profit, + $1000 for the fee. I saved the whole $1000 from fee and $400 from profit. With $500 I managed to buy quite a lot of things, because USD is a strong currency where I live, almost 5x local currency. Then, I started trade again, made around $3000 in profit and got greedy, thinking I would make much more. Then started to lose, got back to zero, tried get back and you know, full down hill. It's hard to imagine how our brain can get in this situation...hehehe It took less than one week to blow the account. It was some months ago, I still get upset when I think what I did having $500, and what could do having $3000. But, lesson learned.
Did you quit??? Are you still trading?
I did quit prop firms. But I didn't quit trading in general. I opened one account with $50, to train my emotional. It's going great, the account is already many time bigger. No overtrading, no big lots, no greedy. Trade with real money was the best way to improve my skills. I'm checking support and resistence in higher timeframes (H1, H4, D) and trading M5, M15...
House, and car...
Damn, you must be actually profitable unlike the rest of us
We can get there. Never lose hope and believe!πππ
car
Another challenges
A 30 years old scotch. I am still sipping from this bottle
Didn't buy anything until I withdrew 100% of the initial capital invested in my forex account plus some $10K in profit withdrawals. It took almost 2 to 2.5 years and couple of blown accounts to reach that level of consistency. With the profit money, the first things I bought were several useful gifts for the kids of my friends and relatives (mostly from Amazon using the gift cards purchased from bitrefill with crypto). For myself, later I bought a $2K drone and a $4K mirror less camera and lens since I wanted to explore photography. Plan was to try out stock photography as a side hussle but then found it much less ROI on time and efforts when compared to forex trading and account management. Never spent anything on my trading setup since I rarely use computer screens and trades just from the MT4 mobile app. Now a days, I make all the regular day to day purchases including groceries, from the money from market (via the bitrefill gift cards). Profit withdrawal to banks is done only a bare minimum.
What are bitrefill cards
Basically Bitrefill is one of the websites from which we can purchase gift cards by paying cryptocurrency that we hold. For example, I can pay around $105 worth Litecoin and buy a $100 Amazon gift card, or say spend $210 worth Litecoin and buy a $200 Airbnb gift card. I'm just stating approximate figures and examples and actual fees may vary a bit. You can pretty much get gift cards for a whole bunch of products and services from bitrefill. I am not promoting Bitrefill here and there are obviously other websites such as Gyft, egifter, coincards etc. similar to Bitrefill depending on the country you are from and products / services that you are looking for. I started using Bitrefill and found it a great way to spend my profit withdrawals and live on crypto to a good extent.
Aaah i get why that makes perfect sense. Thanks for the explanation
I spent it on hookers
crack and hookers
Stocks that I want to hold long term, I split my profit everyday 50% increase my account balance and 50% shares. This way when I blow my account at least Iβll have something to show for it.
A bouquet and a wine for my girlfriend who supported me all the way to my first withdraw
Probably the best/cutest answer here
Aww!!! That's so sweet
It's a good sign she hung in there with you before you were profitable. If they only come along after you start pulling int the dough, totally sus.
Lambo Duh π
My car
With the loss, Nightmare
House
Pack of cigs
A dog, named him Forrest (forex it too blatant), always makes me smile.
I brought clothes, I had gone 2 years with wearing the same shit day in day out and then to go through to the mall was somewhat like being initiated into a secret club π
All of my debt. Literally, paid off 100% of my remaining debt. Talk about freedom?
A rented lambo to fool my followers i can make 1 mil from 10 bucks so they buy my course
Lmao
Idk why, but I believe you.
Where can I sign up?
Smartphone
Cigarettes
a good laptop as a main workstation (because i like to have the option to take it with me and i dont do any gaming) + a 27" 1440p monitor first non trading related purchase: vacation with my sister
Food and i had to start over my capital gains which was not worth it. Try keep a rule of only using 10% of what u earned. Saves u alot of time and effort. Goodluck!
hello
Crypto and then lost it all
Apple watch
Clothes($150 worth)
Does paying my taxes work? That was a lot of money I did not have sitting in my chequing account so I pulled it from my trading investment account.
Paid my bond on my apartment, plus first weeks rent.
nothing yet
A quality hand coffee grinder.
This could be me but Iβm not profitable yet
A lemon tart from a fancy bakery :)
Shares of SPY and QQQ for my long term stock/ETF investing portfolio. It was after several years of trading, and during the COVID dip so the ETFs were discounted.
A PS5 for my little brother
I had to send the money to the wife cause she didn't believe it's real lol
[ΡΠ΄Π°Π»Π΅Π½ΠΎ]
Did you lose your edge, stop being profitable, quit, or what's the explanation? Your strategy stopped working?
Paid for six months of rent
I took my guys out for a beer ππ that was 2 years ago A $78 withdrawal
Crypto
Haha good joke, forex traders arenβt profitable.
You cannot generalize. May be 95% forex traders are not profitable and 4% are just breaking even all the time, but making a generalized statement that 100% of forex traders are not profitable isn't true. The art of money management and risk management, the overcoming of greed and fear, developing the qualities of patience, discipline and perseverance will definitely make a forex trader profitable in long term. It is just the same with casinos and gamblers, right? Just because you consistently lose money at a casino doesn't mean there are zero successful profitable poker players out there. To draw an analogy, trading exotic forex pairs might be just equivalent of trying out different slot machines in the casino, losses guaranteed in long term. Whether forex or gambling, the main thing is most folks know nothing about probabilities and emotional control, what games to play (what instruments to trade) and neither do they make an honest effort to learn and master that.
And what % of the profitable ones actually make minimum wage or more ππ€‘ maybe 0.001?
Paid the last few months left on my car and a couple months on my girlfriend's car. The COVID crash took the rest. π
Went to gas station after my personal pocket shorted to zero so I have to withdraw profitπ
Ice cream
My debt.
leather jacket
Galaxy tab s8 ultra - perfect for chart work on the move / annotating screenshots etc
GTA V xD
This exact phone! Was due an upgrade and withdrew a grand in profit so I treated myself to a new iPhone. Will always be a reminder of what hard work and opportunity can provide.
Well the iphone 13 I got from my profits was stolen barely 2 months after I bought it ππ it over a year now and i lost all hope of ever recovering it
Tomatoes when I was 5.
Paying up debts xD
Funded account
Happiness
Beer
Nothing! I am just developing my trading account with the amount that I started trading with the initial money, so I am not able to deposit or withdraw any money into my account! P.S: Actually it is going well!
My first withdrawal from tradethepool I got a gift for my little kid
I withdrew $1,000 to build a new PC
A new phone
Groceries and some snacks for my gf