Keep getting wiped out in FX

[prudent76]

if I can make x% on 10k, its logical to conclude that I should be able to do the same on a 100k or 1m account.

Emotions don't affect traders who know what they are doing, risking 0.5% on a 10k account is no different from risking 0.5% on a 1m account. .

Well from this statement here, he seems to think that trading psyche is the linear whether you trade 10 k account or a 1m account. You name me one aspect of human psyche that is linear.

Simple experiment. Play a game of heads or tails with $0.50 as wager. Should be no issue for most people. Increase the wager to $10 a game, you will notice that some people won't play with you. Up it to a $1,000 a game. See how many people play with you then. The mechanics of the game are exactly the same, but the responses are markedly different. You can try this on fairly well to do people and the result is the same.

Leave it to you folks to speculate the size of the account he trades. Clue, most newbies think that if they can trade a Practice account, the result will be the same when real money is involved.

Don't even get me started on emotion.

Some people are like the clouds. It's simply a better day after their gone.

 

[Mr.Canberra]

I don't trade fx.
I don't do anything that risks an account blow up.
I have not gone bankrupt even though most of my investable assets are in my trading account.
Yes I have made more than a million (probably gonna hit 2m by next year or 2020 latest) from trading in the last 13 years.
Compounding is awesome when you have a stable/profitable strategy.

Finally I'm not here to put down others, I'm trying to save people from wasting their time and money on this pointless endeavour, but do what you guys want to do, I couldn't care less. I think I have said enough about this so peace out.

Jin hao lian sia!

 

[Hot_Dog]

Jin hao lian sia!

Don't think he is boasting, he is making a point, that maybe he knows what he is talking about, given his time in the market and the success he had achieved. He does have point you know

 

[Mr.Canberra]

Don't think he is boasting, he is making a point, that maybe he knows what he is talking about, given his time in the market and the success he had achieved. He does have point you know

Hahaha I dig your sarcasm!

 

[Hot_Dog]

Hahaha I dig your sarcasm!

Nope, I'm serious, he does have a point. I mean the more leverage one uses, the risker it is, though on the flip side the greater the rewards.

And by "I don't do anything that risks an account blow up." I take it to mean he does not use any leverage. If he can make money without it then why not?

 

[prudent76]

Nope, I'm serious, he does have a point. I mean the more leverage one uses, the risker it is, though on the flip side the greater the rewards.

And by "I don't do anything that risks an account blow up." I take it to mean he does not use any leverage. If he can make money without it then why not?

Based on his understanding of trading psychology, it's questionable if he is trading successfully. Only noobs think that trading a 10k account is the same as trading a million dollar account.

 

[Hot_Dog]

Based on his understanding of trading psychology, it's questionable if he is trading successfully. Only noobs think that trading a 10k account is the same as trading a million dollar account.

You know what, my own pov is that both views are not wrong.