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these things mostly happen in many beginners and they did just because they think they will get much money in less time so they open the trades with big lot sizes and they got nothing but loss to their accounts.i have lost five accounts because not using take profit and stop loss.
Short term or intraday traders use high leverage often and expect to get very high profit, equally their trade have to face risk, if entire margin is used there are good chances of blowing account in volatile market conditions, i some time dont use stop loss especially when i feel i shall lose more than 60% capital if stop loss is triggered so why not take little more risk of blowing account or increase more chances of returning in profit, so i burnt my account several times already.
mera account taqreeban 2 bar bellow hova hy or mujhy first time 80$ or second bar 53$ ka loss hova pr is me mujhy experince gain hova or ab me ney sekha hy k greed control karni .
Yes i guessd the first one for using large lot size and it was when i had any knowledge about the lot size and MC others for holding on the losing trades and not fixing a is target and they will get much money in less time so they open the trades with big lot sizes and they got nothing but loss to their accounts.
I have done this job about 4-5 times but every time when I did it I learned a new lesson. Now I am more careful in trading and try to trade with small lot size. If we follow the forex rules then we can avoid getting MC again and again.
It has been same with me too. I have been wiped out 3 times during my trades. I lost all my money then. I was really stupid not to close the trade when the trends were moving against me so vigorously. But now I have recovered that loss and I am never making that mistake again.
i have lost about $150 in two accounts.one account lost by entering the large lot sizes.another account lost by wait for getting too much profit from small equity and it gives huge loss to me.after these,i correcting my mistakes and develop own strategy for current trends.now i got acceptable profit by my own analysis.
i lost my 2 account in 2 months; lol
first account i cannot control my emotion so i bid in huge lot to gain big profit, its work but i dont close it, i wait until it get bigger profit, in fact market movement are back and waiting so long to get it back but until MC it not back :(
second time i forget to close my open order and when next day i want to trade its gonna MC. how stupid i am.
i think that it is common for newbies and some traders who are new at forex trading that they will blow up their account...so if i talk about my account, i have blown up my account for more than 10 times...so even i do not count that how many times i have blown up my account....main reason is to get greedy and to over trade....
We are on the same boat. I have blown several account but overall I'm still making some money. Based on my experience we have to withdraw some of our capital and profits regularly so that if market suddenly make a sharp movement against our positions, we still have some profits in our bank account.Quote:
Originally Posted by adahidayat