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How many blew up an account before becoming a successful trader?
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Created: by liquidcci Attachments:1

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View Poll Results: How many blew up an account before becoming a successful trader?
Yes, I blew up an account. 24 22.22%
Yes, I blew up more than one account. 36 33.33%
I did not blow up an account but it was so close count me in as blowing up an account. 18 16.67%
No, I never blew up an account 30 27.78%
Voters: 108. You may not vote on this poll

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How many blew up an account before becoming a successful trader?

  #31 (permalink)
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I blew up a couple of small accounts, for me it was part of the process it was my education as I have learned a lot from it.


Last edited by mrphr; February 1st, 2014 at 05:54 PM.
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  #32 (permalink)
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nourozi View Post
Isn't the real reason why everyone seems to lose because the market is a casino and the house always wins. When you think about it, trading is a negative sum game after commissions and spreads are taken into account. So to win consistently, you need a big advantage/edge over the other players and then to take money home after the rake/commissions are factored in.

Trader = Gambler
Market = Casino
House = Exchange and Brokers
Rake = Commissions and Spreads.

Very similar in my opinion.

Corporation produce stuff, for example your computer, your phone, your shoes, your watch, your cloths are all products of the stock market. But is true markets are very speculative by nature.

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  #33 (permalink)
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A better question is how many trades did it take before you blew up your account

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  #34 (permalink)
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Itchymoku View Post
A better question is how many trades did it take before you blew up your account

I think this question is misleading. Before even placing a trade you should have designed a money management plan to prevent you from losing your entire bankroll. So how should i proceed to develop such a rock solid money management plan? What is the link between leverage and the possibility to lose it all? etc. Those are more interesting questions in my opinion. Asking how many blew their account won't really help you as a trader.

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  #35 (permalink)
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trendisyourfriend View Post
I think this question is misleading. Before even placing a trade you should have designed a money management plan to prevent you from losing your entire bankroll. So how should i proceed to develop such a rock solid money management plan? What is the link between leverage and the possibility to lose it all? etc. Those are more interesting questions in my opinion. Asking how many blew their account won't really help you as a trader.

I agree whether you die from a shotgun blast or a thousand paper cuts, the reason why your account is killed is usually the same.

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  #36 (permalink)
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As a matter of interest, i received an interesting document in my mail box from Mike Reed @ TradeStalker.com

It's all about trading the e-minis and money management. This document offers a template/roadmap you can use to build your own version of money management.

It's a word document so if you do not have Word installed on your computer then just download it on your computer and read it using Google's toolbox at: docs.google.com

Good reading and stop losing your account.

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