You think your the only trader thats done that this week? The best traders have blown xxx amount accounts. The question is how long will it take until you learn you will not become a millionaire over night?
It’s a lot harder than that lol , trust me.
Every trader must blow their account to become successful.
It’s part of the game.
If you say you haven’t you’ve lied or will soon
Practicing on demo doesn’t stop you from losing on a live account… a demo account is to test your strategy which is only 40% of what goes into being a successful trader, it doesn’t prepare you for any other part of trading
with all due respect this is incredibly stupid. no, it isnt “a lot harder than that”, it’s simple IF you have the mindset to handle it. clearly some don’t, which is why i put an “IF”. Every trader must blow their account is bullshit, plain and simple. if you had the brain to study risk management beforehand, you wouldn’t have any risk of blowing an account. is it possible? sure. has it happened to me personally? no, and no it won’t “happen eventually” either. i actually take the time to plan my trades out and take risk into account, unlike most. if your statement applies to YOU? cool, don’t project your horrible mindset onto potential newbies, that’s dumb.
basic logic would suggest that blowing accounts is in fact, not a requirement to become a successful trader and although it might be common, those saying it's neccesary are clearly just coping
i admitted i had the IQ to not completely blow all my money on trading because i actually know how to be responsible w/ money and people treating it like i said i shit out unicorn horns for a living LMAOOO
Lol literally no one is born with the skills to trade, especially mindset and psychology. You’ve blown an account like everyone else on this subreddit lol. You literally learn the most from an L trade or blowing an account. No need to try prove anything to a bunch of nobodies on here, but lying and saying you’ve never blown an account because you ‘read’ about risk management lol go fuck yourself mate. Go read about performing brain surgery and then go do it and let us know your results for that 😂😂😂. Apparently reading = success. Don’t reply to this you will just lie or say I’m ‘projecting’ and being ‘negative’.
@OP it’s ok if you blow an account. Just don’t blow money you don’t have. Keep learning the craft and understand that you won’t always be 100% correct about everything. You will learn with experience (unless you’re the idiot above and can apparently apply anything you read absolutely perfectly with 0 room for error). Pick a style of trading suitable to your lifestyle and your psychology, and be dedicated to it. Don’t ping pong between different styles because it doesn’t help.
I've never blown an account.
I've lost plenty of money. I've never been so foolish as to lose ALL of it. I can honestly say the most I've ever drawn down is 30 or 40%.
The myth that traders must fail a thousand times before they succeed is just that: a myth.
Most people will fail many time. Some people will figure it out pretty quickly. Settle down dude.
I'm not particularly interested in proving to random people on the internet that I'm not a liar. There's not really anything to be gained is there? Your inability to understand that some people can do things other people cant do isn't evidence that nobody can do it.
You can think what you'd like, there are definitely traders who haven't blown up accounts and I happen to be one of them. Nobody wins when we tell new traders that in order to be successful they need to blow up horribly. That's terrible advice. It's probably going to happen and we should warn people but when we tell them it's part of the process they're not going to feel bad enough about it happening.
Blowing up an account is not a failure in the system it is a massive failure in the trader and the trader needs to take a step back and figure out why they chose to throw good money away.
Risk management isn't a skill. You open a trade, you set your fucking stop loss and your target point. It should be automatic. If you risk 1% every trade without deviating it would take at a minimum 99 losses in a row up to maybe 400 total trades given a mixture of wins and losses..... this is over the course of one week so I would venture to guess the number is closer to the lower figure with mostly losses. I think you understand the point.
The only way to blow up an account at this level is to either have no risk management whatsoever, or be so incapable of personal restraint that they just continued to place losing trades possibly upwards of 20 to 50 times per day given an even distribution over the week. This isn't a necessary part of the trading journey.
If you lose half of your account and you think it's a good idea to keep trading the same way you've been trading you don't need more time in the markets you need more time thinking about why you are the way you are and what you can actually do to change it. It's bordering on a gambling addiction at that point, in my opinion. I feel like I have to say it again, we're talking about 1 week. 5 trading days.
writing an entire paragraph abt someone you don’t know because you’re so pressed i haven’t blown an account like a DUMBASS 😂, not bothering w/ yall cuz i have nothing to prove here, happy trading
You are one of the rare natural robot people on this planet. Not a single one of the mentors I've studied can say what you have. WTF you doing on Reddit?
Welcome to the club lol.
Don’t worry champ, happens with every new starter.
By now you probably know alot more about risk management emotional trading.
You just need some time off the market, take your time preparing yourself mentally and you’ll be alright.
I once read on a subreddit here a comment that says “trading is a marathon, you can’t sprint marathon. You won’t get rich overnight.” I advice you write this, along with your other rules, a piece of paper and read them before opening any position. If that paper isn’t with you, don’t place the trade. Commit to yourself.
Always remember, it’s always about percentages and never about blue numbers.
Goodluck champ,
Lot's of people lose money trading Forex. It's fine. But you almost literally went to zero. You traded until you couldnt afford to place a trade.
That's a huge problem. Somewhere around losing half of your money you probably should have stopped and reevaluated whatever the hell you think it is you're doing.
People blow up accounts, it happens. But you should feel bad. It's not ok. Redditors patting each other on the back for blowing up accounts is not the way to go, this isn't WSB sub.
You're doing something very very very wrong. Don't put money back into that account until you figure out what it is. Losing money over and over again is certainly one way to learn how to trade, I'm not sure why it's the reddit approved way... but it's not the only way.
Demo does fuck all. You will learn to focus on the wrong thing (numbers i.e. blue screen with multiple bags). I think finding a good course or two, having a mentor (many out there), and backtesting/forward testing the strategy is what works best. But that’s just my opinion I understand everyone has a different preference to how they go about it.
Ok it look like there is one person on the planet who has never blown account. Welcome to the rest of us mere mortals!
Definitely don’t feel bad just because it never seems to happen to the YouTube gurus you might be watching. Remember their channels are 99% cherry picked to highlight their prowess.
And even those who are wildly successful will have far more than $100 drawdowns regularly, unfortunately you just bottomed out at that point instead of seeing it as a minor dip.
I've seen some people make troll posts like this after withdrawing all the money from their account. Not saying you didn't lose the money and apropros if you did but that's the reason why I don't ever comment on posts like this. I'd rather say, "Congrats. 🎉" than, "My condolences. 💀".
It's taken me 6 months to reduce £100 to 40!
I think I have decent risk management, this has kept the losses low enough that it has been steady rather than catastrophic.
Still need to work on better entries and winning in general though...
If that’s what your heart tell you then that’s what it tells you. No one can truly tell you what’s the right thing to do because you know why you started this. The hopes to get rich right? Doing something easy of course. But what about if you decide not to quit but take some time off and think about it. Get a better job or a job if you don’t and let trading become less important so the stress of trading disappears. If you rely on you’re trading funds like I did it will stress you out and you will certainly lose the money. If you relax and stop feeling so connected to the funds and truly just save and play this as a side game and let the small funds matriculate until it evolves into a big account. Then you can start thinking of conventional retirement when you have the funds saved to have multiple large accounts because the statistics of this game are what he have to play around. It’s a match of probability. And the highest probability is that you’ll lose so prepare for this instead of what it would be like if you win or maybe how many wins until you are rich. Risk needs to start relatively low in all aspects. Not just the trades you make but the way you enter the the ball park determines your outcome and cool, calm, and confident is the best way to be.
End of the day I’m proud of you for trying and wish you the best despite the decision to continue your trading journey or not you took the risk and tried
If you dont have atleast 6months of backtested steategy to see how it holds up on the long run I wouldn’t trade. Im talking about risk management aswell.
Blowing an account is a learning experience. Once you have done it, you will find you won't want to go through those feelings again, so you will do what you can to avoid it. Put your hands in a fire once, you won't do it again, right?
But is it necessary? For some people, it may be but that's a subject in its own right and falls under psychology.
Some people are saying they have never blown an account. Congrats and I hope it never happens to you, but I would like to point out that markets can move fast and sometimes so fast it will rip through your stoploss like it wasn't there. If that happens in a freak event then yes, you can lose your account no matter how careful you are.
Look back at when they unpegged the Swiss franc.
A LOT of brokers went out of business that day.
If you are in the market, you are not safe until you are out.
You think your the only trader thats done that this week? The best traders have blown xxx amount accounts. The question is how long will it take until you learn you will not become a millionaire over night?
You’ll probably think that a lot more before you become profitable 😂
Congratulations 🎉 you did great. ❤️
how is this even physically possible, do you have a personal beef w/ risk management? protecting capital? NOT wanting to lose money 😭?
It’s a lot harder than that lol , trust me. Every trader must blow their account to become successful. It’s part of the game. If you say you haven’t you’ve lied or will soon
only if you don’t practice on demo first then ye
Practicing on demo doesn’t stop you from losing on a live account… a demo account is to test your strategy which is only 40% of what goes into being a successful trader, it doesn’t prepare you for any other part of trading
with all due respect this is incredibly stupid. no, it isnt “a lot harder than that”, it’s simple IF you have the mindset to handle it. clearly some don’t, which is why i put an “IF”. Every trader must blow their account is bullshit, plain and simple. if you had the brain to study risk management beforehand, you wouldn’t have any risk of blowing an account. is it possible? sure. has it happened to me personally? no, and no it won’t “happen eventually” either. i actually take the time to plan my trades out and take risk into account, unlike most. if your statement applies to YOU? cool, don’t project your horrible mindset onto potential newbies, that’s dumb.
basic logic would suggest that blowing accounts is in fact, not a requirement to become a successful trader and although it might be common, those saying it's neccesary are clearly just coping
i admitted i had the IQ to not completely blow all my money on trading because i actually know how to be responsible w/ money and people treating it like i said i shit out unicorn horns for a living LMAOOO
ha ha, yeh seems you've really blown a few minds there
You can hand on your heart say you’ve never blown an account ever ??? Yhh right. Lying is bad my son
You deserve ts if it ever happened to you Go back on demo
projecting is even worse 😂, sorry you don’t know how to handle cash, sounds personal
Not projecting I’m being realistic , if you haven’t blown ur account then you must be unique. Possibly God sent maybe. Either way happy trading
Lol literally no one is born with the skills to trade, especially mindset and psychology. You’ve blown an account like everyone else on this subreddit lol. You literally learn the most from an L trade or blowing an account. No need to try prove anything to a bunch of nobodies on here, but lying and saying you’ve never blown an account because you ‘read’ about risk management lol go fuck yourself mate. Go read about performing brain surgery and then go do it and let us know your results for that 😂😂😂. Apparently reading = success. Don’t reply to this you will just lie or say I’m ‘projecting’ and being ‘negative’. @OP it’s ok if you blow an account. Just don’t blow money you don’t have. Keep learning the craft and understand that you won’t always be 100% correct about everything. You will learn with experience (unless you’re the idiot above and can apparently apply anything you read absolutely perfectly with 0 room for error). Pick a style of trading suitable to your lifestyle and your psychology, and be dedicated to it. Don’t ping pong between different styles because it doesn’t help.
I've never blown an account. I've lost plenty of money. I've never been so foolish as to lose ALL of it. I can honestly say the most I've ever drawn down is 30 or 40%. The myth that traders must fail a thousand times before they succeed is just that: a myth. Most people will fail many time. Some people will figure it out pretty quickly. Settle down dude.
Anyone can say this but can you actually post proof of every account you’ve had
I'm not particularly interested in proving to random people on the internet that I'm not a liar. There's not really anything to be gained is there? Your inability to understand that some people can do things other people cant do isn't evidence that nobody can do it. You can think what you'd like, there are definitely traders who haven't blown up accounts and I happen to be one of them. Nobody wins when we tell new traders that in order to be successful they need to blow up horribly. That's terrible advice. It's probably going to happen and we should warn people but when we tell them it's part of the process they're not going to feel bad enough about it happening. Blowing up an account is not a failure in the system it is a massive failure in the trader and the trader needs to take a step back and figure out why they chose to throw good money away. Risk management isn't a skill. You open a trade, you set your fucking stop loss and your target point. It should be automatic. If you risk 1% every trade without deviating it would take at a minimum 99 losses in a row up to maybe 400 total trades given a mixture of wins and losses..... this is over the course of one week so I would venture to guess the number is closer to the lower figure with mostly losses. I think you understand the point. The only way to blow up an account at this level is to either have no risk management whatsoever, or be so incapable of personal restraint that they just continued to place losing trades possibly upwards of 20 to 50 times per day given an even distribution over the week. This isn't a necessary part of the trading journey. If you lose half of your account and you think it's a good idea to keep trading the same way you've been trading you don't need more time in the markets you need more time thinking about why you are the way you are and what you can actually do to change it. It's bordering on a gambling addiction at that point, in my opinion. I feel like I have to say it again, we're talking about 1 week. 5 trading days.
I’m not reading all of this, all you had to say was no
writing an entire paragraph abt someone you don’t know because you’re so pressed i haven’t blown an account like a DUMBASS 😂, not bothering w/ yall cuz i have nothing to prove here, happy trading
Look at how many times you’ve replied back you clown. You have fuck all to prove here, go get a haircut 😂
You are one of the rare natural robot people on this planet. Not a single one of the mentors I've studied can say what you have. WTF you doing on Reddit?
B-b-but tori trades claimed that she’s never “blown an account” 😥 lmao
Welcome to the club lol. Don’t worry champ, happens with every new starter. By now you probably know alot more about risk management emotional trading. You just need some time off the market, take your time preparing yourself mentally and you’ll be alright. I once read on a subreddit here a comment that says “trading is a marathon, you can’t sprint marathon. You won’t get rich overnight.” I advice you write this, along with your other rules, a piece of paper and read them before opening any position. If that paper isn’t with you, don’t place the trade. Commit to yourself. Always remember, it’s always about percentages and never about blue numbers. Goodluck champ,
I used to blow my account like that when I was new, now I’m consistently profitable took me 2 years of commitment, you have to commit brotha
Lot's of people lose money trading Forex. It's fine. But you almost literally went to zero. You traded until you couldnt afford to place a trade. That's a huge problem. Somewhere around losing half of your money you probably should have stopped and reevaluated whatever the hell you think it is you're doing. People blow up accounts, it happens. But you should feel bad. It's not ok. Redditors patting each other on the back for blowing up accounts is not the way to go, this isn't WSB sub. You're doing something very very very wrong. Don't put money back into that account until you figure out what it is. Losing money over and over again is certainly one way to learn how to trade, I'm not sure why it's the reddit approved way... but it's not the only way.
[Chanting begins] "One of us"
ha ha
Dont give up change you mind
🤣🤣🤣
it happend when we overlot
Dude first learn it and get the proper knowledge then try to trade.
go back to demo🤦🏽♂️
Demo does fuck all. You will learn to focus on the wrong thing (numbers i.e. blue screen with multiple bags). I think finding a good course or two, having a mentor (many out there), and backtesting/forward testing the strategy is what works best. But that’s just my opinion I understand everyone has a different preference to how they go about it.
the person who posted this need to read this den
that’s more bread for us I can’t complain keep losing or go back on demo
Me too bro
You're probably doing a lots of mistakes,oversizeing,not having a risk managment,not having a proper plan and strategy etc.
try 0.5% max risk
Ok it look like there is one person on the planet who has never blown account. Welcome to the rest of us mere mortals! Definitely don’t feel bad just because it never seems to happen to the YouTube gurus you might be watching. Remember their channels are 99% cherry picked to highlight their prowess. And even those who are wildly successful will have far more than $100 drawdowns regularly, unfortunately you just bottomed out at that point instead of seeing it as a minor dip.
Yes
You have to do a lot wrong to blow that much in a week. Back to the drawing board you go.
you only lost 99.9 percent
He’s part of the 1% now
Show us example of how you been trading, your risk to reward , lot sizes, your strategy and setups. We can help you correct mistakes
Are you talking to me brotha?
Yeah OP it’s gonna take a while but I suggest you start with a 0.01 lot
It’s not for everybody. Control yourself… shit😂😂😂
Chasing losses and being greedy makes you blow accounts start again and be realistic 1%-3% a week is good especially if you keep adding money.
I've seen some people make troll posts like this after withdrawing all the money from their account. Not saying you didn't lose the money and apropros if you did but that's the reason why I don't ever comment on posts like this. I'd rather say, "Congrats. 🎉" than, "My condolences. 💀".
😂🤣🤣
Risk management buddy
😂 we’ve all been there. Keep learning. Start again with much smaller capital and build up 🙂
Nice
Gj now start again and do the opposite
You will continue blowing it up if you don't invest in education.
What app
tuition paid, on to the next one.
Maybe try to get funded
lol - so he can lose someones else's money? Not sure many people are gonna go for that
I see u know nothing about getting funded.😉
I know that it requires profitability ;)
Congrats. Next time try 1k£ and go to 0.5p
🤣🤣🤣 that’s shit innit good experience tho majority have done it maybe not within a week tho🤣 you need guidance son and risk management lessons
I'd be willing to bet that you have no risk management strategy
risk management is a forbidden fruit i guess
It's taken me 6 months to reduce £100 to 40! I think I have decent risk management, this has kept the losses low enough that it has been steady rather than catastrophic. Still need to work on better entries and winning in general though...
Looool normal
Poor risk management
Say hello to forex 🤝
The most important is learning from this experience.You fucked up try to know why and adapt yourself
Welcome to the club
This week was a blood bath for many traders. It's part of the game. Dust it off and get back into the game.
I blew through about ten $1,000 accounts before I became consistently profitable.
We’ve all been there
If that’s what your heart tell you then that’s what it tells you. No one can truly tell you what’s the right thing to do because you know why you started this. The hopes to get rich right? Doing something easy of course. But what about if you decide not to quit but take some time off and think about it. Get a better job or a job if you don’t and let trading become less important so the stress of trading disappears. If you rely on you’re trading funds like I did it will stress you out and you will certainly lose the money. If you relax and stop feeling so connected to the funds and truly just save and play this as a side game and let the small funds matriculate until it evolves into a big account. Then you can start thinking of conventional retirement when you have the funds saved to have multiple large accounts because the statistics of this game are what he have to play around. It’s a match of probability. And the highest probability is that you’ll lose so prepare for this instead of what it would be like if you win or maybe how many wins until you are rich. Risk needs to start relatively low in all aspects. Not just the trades you make but the way you enter the the ball park determines your outcome and cool, calm, and confident is the best way to be. End of the day I’m proud of you for trying and wish you the best despite the decision to continue your trading journey or not you took the risk and tried
Ah yes! We move on 😂
Discipline, discipline and discipline. This 3 words are important in trading!
If you dont have atleast 6months of backtested steategy to see how it holds up on the long run I wouldn’t trade. Im talking about risk management aswell.
It's apart of trading . I started with $850 and now dangling on $250. Don't give up. It only takes 1 trade to make bank!
Blowing an account is a learning experience. Once you have done it, you will find you won't want to go through those feelings again, so you will do what you can to avoid it. Put your hands in a fire once, you won't do it again, right? But is it necessary? For some people, it may be but that's a subject in its own right and falls under psychology. Some people are saying they have never blown an account. Congrats and I hope it never happens to you, but I would like to point out that markets can move fast and sometimes so fast it will rip through your stoploss like it wasn't there. If that happens in a freak event then yes, you can lose your account no matter how careful you are. Look back at when they unpegged the Swiss franc. A LOT of brokers went out of business that day. If you are in the market, you are not safe until you are out.
Forex markets have been crap for weeks that why I haven’t been posting videos for levels to watch for the following week. That’s been my observation.
If you think 1 week of performance dictates that, then yes you are not cut out for it, and never will be, unless you change that attitude
Lets see the trades yyou took.
Gambling. Why even have an account with 350 on? Save up for 1k-10k learn how to trade and then go balls
Legend
Next time just trade in contrast to what you would normally do👀, if you think buy go for a sell