Thread: 100.000 Dollars... "blow"

I lost $50,000 a couple of days ago. And I was really pissed for a couple of days.. (ok i am still not happy about it but...)

But I will tell you the difference between me and Mirasole..

Mirasole I think it is really bad you lost all your money. I think everyone that trades forex has done that at some stage. You cant win them all.
I will tell you how I avoid it though.

no 1 rule... only put a really small % of your capital into your account.
no 2 rule... never break rule no 1.
no 3 rule... set a target and withdraw ALL $ except for a small starting capital
... The rest is all about trading smart. eg. scaling the lots your trading (MM).

eg if you have $100.000 trade $500!! Then you can lose your entire account 200 times. and you can laugh about losing all your money instead of crying.

You might think "what is the point of trading $500? It is not worth trading for that small amount!"
The point is this - If you cant trade with $500 then you definately cant trade with $100,000.

If you consistently lose your small capital, then you are doing something fundamentally wrong.

I love trading with $500.00! because my aim is simple. I want to double it, then double it again, then again ....
500
1000
2000
4000
8000
16000
32000
64000 etc

Double your account 8 times $64,000. Double it 9 time and you have made more then your original capital.(of $100,000)

I have figured out average times it takes me to double an account so i can predict the $ I should make.

I hope this helps someone out there not lose their house!

Summing up I lost $50,000, but i really only lost $2000, starting capital. and a bit of time.. And i didnt lose it all. I still have $1000.00 left in the account. So i really lost only $1000.

AR

arbus nice comment. but why not to start with $1??? then your table will look like:
$1->$2->$4->$8->$16->$32->$64->$128->$256->$512

if you can double 10 times from 1 to 512 then I think you have all chances to double 10 times again end exit with $1M

Honestly I don't understand why people exit their job... You don't need to babysit your orders.... Terminal will close them for you by TP or SL....