Keep getting wiped out in FX

[3dfxplayer]

What you talking is basically rubbish. lol.

More like your strategy is rubbish (and you want to charge some newb a "fee" for it lmfao), thats why you are only willing to risk a puny 6k on it while every single cent of profit you make from gambling on this strategy is withdrawn from the account asap.

You obviously have zero confidence in your strategy and ability to not blow up, perhaps you have already blown up gazillions of accounts and this is your nth one.

 

[it_geek]

More like your strategy is rubbish (and you want to charge some newb a "fee" for it lmfao), thats why you are only willing to risk a puny 6k on it while every single cent of profit you make from gambling on this strategy is withdrawn from the account asap.

You obviously have zero confidence in your strategy and ability to not blow up, perhaps you have already blown up gazillions of accounts and this is your nth one.

why don't we stop bickering here, that's not the focus of this thread. Flare each other in PM please.


Since you pride yourself on your 13 years of trade experience, have a look at the trade log i posted and spot what you know are clearly newbie mistakes... lol

 

[3dfxplayer]

Since you pride yourself on your 13 years of trade experience, have a look at the trade log i posted and spot what you know are clearly newbie mistakes... lol

Got no time to dissect the long ass trade log, but its obvious that you have a losing strategy when your largest loss is 7 times that of your largest profit and your win rate is only 50%.

 

[numbers]

wow...i would have thought u would quit after losing so much money....

i tried twice, took 2 courses, traded after each course. Lost 5k+ inclusive of course fee.

Told my self thats it, forex is a lie and stopped trading FX. Either u got alot money to keep losing or just quit ba

 

[tiertime]

i been trading FX on and off for ard 10 years... bursted my 1st account with USD $2K with IBFX and FXCM, that time i was using Mt4 also...

now on my 2nd account for ard a year with pepperstone, funded it with $1700 and did more than a hundred trades, now at least my account is still positove

i prefer pepperstone cTrader platform as compared to Mt4, it's platform is aesthetically pleasing and user friendly...
i dun put stop loss anymore, but i monitor my trades and try to close them within a few hours with small profits

every buy/sell trade i make also earns me rewards tat gets converted into money into my forex account at the end of every day through a cash reward link which i used for signing up the account

i take small quick profits like this:

 

[Mecisteus]

i been trading FX on and off for ard 10 years... bursted my 1st account with USD $2K with IBFX and FXCM, that time i was using Mt4 also...

now on my 2nd account for ard a year with pepperstone, funded it with $1700 and did more than a hundred trades, now at least my account is still positove

Some fun facts about FX.

1) It is just a gambling strategy
2) You won't be able to grow your wealth
3) It is normal to blow up a few accounts

1 simple evidence is,

Just look at the accounts in this thread. Nobody will dare to put more than $10k or hundreds of thousands. And grow this amount.

That is what 3dfxplayer is trying to convey.

 

[Mecisteus]

Some people spend 1 or 2 hours making trying to make $50 to $100 trading FX daily by taking a lot of risks.

Some people rather work at Mcdonalds to earn same amount without taking much risks.

 

[it_geek]

i been trading FX on and off for ard 10 years... bursted my 1st account with USD $2K with IBFX and FXCM, that time i was using Mt4 also...

now on my 2nd account for ard a year with pepperstone, funded it with $1700 and did more than a hundred trades, now at least my account is still positove

i prefer pepperstone cTrader platform as compared to Mt4, it's platform is aesthetically pleasing and user friendly...
i dun put stop loss anymore, but i monitor my trades and try to close them within a few hours with small profits

every buy/sell trade i make also earns me rewards tat gets converted into money into my forex account at the end of every day through a cash reward link which i used for signing up the account

i take small quick profits like this:

your account is positive as long as you still got margin...


so even if fall below margin still positive what :facepalm:


negative means you owe the broker money liao... no go

 

[it_geek]

wow...i would have thought u would quit after losing so much money....

i tried twice, took 2 courses, traded after each course. Lost 5k+ inclusive of course fee.

Told my self thats it, forex is a lie and stopped trading FX. Either u got alot money to keep losing or just quit ba

It's a demo account, I never spent a single cent learning FX. I learn it through the free seminars and all, some I got through complimentary referrals.



I don't believe that you ever need to spend much (OR EVEN AT ALL) to pickup financial instruments. If you paid, you are quite kum gong. The fundamental info is all over the internet, just discern which is true and which is bull.

 

[havetheveryfun]

Some fun facts about FX.

1) It is just a gambling strategy
2) You won't be able to grow your wealth
3) It is normal to blow up a few accounts

1 simple evidence is,

Just look at the accounts in this thread. Nobody will dare to put more than $10k or hundreds of thousands. And grow this amount.

That is what 3dfxplayer is trying to convey.

Nobody will dare to put more than $10k or hundreds of thousands firstly because there's not a need to. Second FX affects your emotions a lot more when your capital is higher. Some people have a maximum cap of how much they can tolerate (e.g. onegoal who just keep 5-7k in his account and withdraw profits everytime and his lot size never seems to go past a certain amount). but i do know a guy who trades FX on a million dollar account, yet his sizing is only like a 20-30k account.

FX is still a way to grow your health but it is probably a lot harder than one think it is going to be. A more realistic expectation is earning an average of 3-5% per month over a year, so that is around 60%. But then the 60% can't be a percentage of a large amount like 100k, but rather maybe just 10-20k.

 

[prudent76]

More like your strategy is rubbish (and you want to charge some newb a "fee" for it lmfao), thats why you are only willing to risk a puny 6k on it while every single cent of profit you make from gambling on this strategy is withdrawn from the account asap.

You obviously have zero confidence in your strategy and ability to not blow up, perhaps you have already blown up gazillions of accounts and this is your nth one.

This is a perfectly valid money management strategy. Another CHF type event will probably happen again. It would be prudent to chop your capital into a few blocks(be it 2k, 10k or 50k blocks). I'm assuming that's what he's doing. It's just part and parcel of FX. Perhaps you should try to understand the rationale before commenting.

 

[onegoal]

This is a perfectly valid money management strategy. Another CHF type event will probably happen again. It would be prudent to chop your capital into a few blocks(be it 2k, 10k or 50k blocks). I'm assuming that's what he's doing. It's just part and parcel of FX. Perhaps you should try to understand the rationale before commenting.

this 3dfxplayer is just trying to put down others.

who would risk money on high risk trading?
High risk means high gain or
High risk means high loss.

Therefore, we should always trade with caution. Never go with big trades.

His method seems to be All money always prepared to be in market when time arise.

Since he claims he use alot of his money in high risk trading, I am seriously keen to see how many standard contracts he trade? 10 or 50? and aim for 100pips? wow....wow... I am impressed.

if u listen and follow him, u will be bankrupted soon. Lol. And if he really is successful, He should be multiple millionaire.

I am here to share. Now to put down others. And I know my skills. There is nothing for me to proof.

 

[tiertime]

Some fun facts about FX.

1) It is just a gambling strategy
2) You won't be able to grow your wealth
3) It is normal to blow up a few accounts

1 simple evidence is,

Just look at the accounts in this thread. Nobody will dare to put more than $10k or hundreds of thousands. And grow this amount.

That is what 3dfxplayer is trying to convey.

but one shd NEVER have thoughts that your income can depend on it, otherwise you will sink to become a gambler before you know it

your account is positive as long as you still got margin...
so even if fall below margin still positive what :facepalm:
negative means you owe the broker money liao... no go

i meant my initial investment still in place la...

 

[3dfxplayer]

Nobody will dare to put more than $10k or hundreds of thousands firstly because there's not a need to. Second FX affects your emotions a lot more when your capital is higher. Some people have a maximum cap of how much they can tolerate (e.g. onegoal who just keep 5-7k in his account and withdraw profits everytime and his lot size never seems to go past a certain amount). but i do know a guy who trades FX on a million dollar account, yet his sizing is only like a 20-30k account.

In trading your profit is only limited by liquidity, 99.9% of retail fx traders are pikers who will never trade anywhere near the size thats required to move price so there is no reason to not deploy more capital on a profitable strategy unless they already know they will blow up and lose money at some point. So your point regarding no "need" to use more capital is moot, its not about "need", 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. Fear only grips you when you know its impossible to control risk (when people take on massive leverage).

FX is still a way to grow your health but it is probably a lot harder than one think it is going to be. A more realistic expectation is earning an average of 3-5% per month over a year, so that is around 60%. But then the 60% can't be a percentage of a large amount like 100k, but rather maybe just 10-20k.

60% on a 10k account is 6k a year... I think a person working part time can make far more than that in a year, its also guaranteed income with no chance of a loss.

 

[LittleFinger123]

Good Eye bro

 

[3dfxplayer]

This is a perfectly valid money management strategy. Another CHF type event will probably happen again. It would be prudent to chop your capital into a few blocks(be it 2k, 10k or 50k blocks). I'm assuming that's what he's doing. It's just part and parcel of FX. Perhaps you should try to understand the rationale before commenting.

First of all not all brokers forgive negative balances, so you can still be on the hook even if the account has blown up. Secondly, he is not chopping up his capital into blocks, he is withdrawing them as soon as he makes a profit, the account doesn't grow and god knows what he does with the money made from punting fx.

 

[3dfxplayer]

this 3dfxplayer is just trying to put down others.

who would risk money on high risk trading?
High risk means high gain or
High risk means high loss.

Therefore, we should always trade with caution. Never go with big trades.

His method seems to be All money always prepared to be in market when time arise.

Since he claims he use alot of his money in high risk trading, I am seriously keen to see how many standard contracts he trade? 10 or 50? and aim for 100pips? wow....wow... I am impressed.

if u listen and follow him, u will be bankrupted soon. Lol. And if he really is successful, He should be multiple millionaire.

I am here to share. Now to put down others. And I know my skills. There is nothing for me to proof.

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.

 

[klarklar]

A couple of months doesn't mean jackshit in trading, nobody is going to take that seriously.

My CAGR over 13 years is over 100% and even with that I dare not claim that I have it all figured out but I think I know what is sustainable and what isn't.

This is very impressive performance. I would not have believed you if I had not been following your past posts.

What markets do you trade? From your posts, I guess you avoid forex. I assume you trade equities. Do you trade futures as well? I prefer futures to forex because futures are more regulated.

 

[Mr.Canberra]

Most people will lose money from Forex trading. This part I agree. You need to have your own strategy or play NO STOP LOSS if you are a lousy trader like me haha.

Hahaha obviously one guy is trying to be obnoxious and it is not Mr. MikeDirnt78. He has not read the Forex Chit Chat thread on my monthly trading performance.

My account #1 current balance US$39,091.58. Working capital was S$18,000. Unrealised loss -US$17,250.

Account never exploded even with NO STOP LOSS.

Account exist exactly 2 years.

Ok ok laugh at or flame me. I already admitted I am a lousy trader wor!

 

[Shinji.Ikari]

Hi Forex Charting Sexpert!!