Have You Ever Blow An Account? Share Your Experience

[moonchild]

Blowing an account is not seen as a big deal in Forex, traders term it as a compulsory tuition that everyone has to pay eventually in the trading markets, I have been trading since 2020 and I have my own fair share of bad experiences, I think this is one of the reasons that make Forex unique from other types of online businesses, you put money on the line before you can play, other types of businesses have lesser requirements, it's mostly time investment and it can be overlooked by many or even be termed as an experience, either way, today we will be talking about blowing accounts in Forex.

My own story is I think around mid 2021, after learning all I had to learn, I decided I want to start a live account, I borrowed money from my uncle around $200 at that time and started trading USDJPY, which was a relatively non volatile pair, after successfully trading for three consecutive times. I was super excited which pushed me to double down my risks so that I can 3x my account on my next trade and that was the end of my account, it started in profits then after a while price started reversing and due to inexperience I held on to the trade thinking it will reverse back to my direction and that was how I lost everything, you don't want to hear my escapade with my uncle😁😁

 

[Sotherefore]

No , I never have such experience before. There was a time , that was recently after I have completed my training on forex that I have to fund my account with $20 to start my trading journey . After I funded the account to start trading, I came to find out that my emotion was what plays out the most and I was not able to trade without emotion.

Because of my inability to control my emotion I have lost the sum of $5 from the account because I was just trading everyday just to make profit without having a clear indication of my analysis to enter the market . Ever since then I have to stop until I get used to the fact that I only have to trade when it is absolutely necessary .

well I am not regretting because all these are experience we have to pass through.

 

[eldavis]

I don't think there is any trader out there who have not blown their trading account at least once before. Personally for me i have blown my account on so many occasions. I remembered the first time it happened, i had used all my savings and earnings to fund the account, only for me to loose it all in just minutes. After my first loss, i was so angry that i didnt speak to anyone at all, i was just angry with everyone like it was their fault. In the end though i came to fully understand that what i had experienced was also part of trading.

 

[Asahi]

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