Biggest Drawdowns?

Assuming you’ve got to a certain skill level now where you’re not blowing your account and getting margin called, what is the biggest ever drawdown (% wise) that you’ve experienced and then managed to turn back around? What were the reasons for this as well? Bad MM, choppy martkets?

Have hit a bit of a bad patch at the moment so am suffering :frowning: looking for inspiration! :smiley:

I know of a couple of traders over at MeetPips.com who have suffered double-digit drawdowns. Don’t worry, it’s all part of the game especially if the trading system that you’re using is not too profitable in the current trading environment. Here’s a popular thread about positivity!

Hello NewYorkJackal,

I had a demo trade once where my EUR/USD Sell went against me by over nine hundred pips!! I think it was a 10k lot, with a 50k account, so it was still a considerable negative sum… I opened the trade in November 2012 and waited until February 2013, by which time it had gone down to just two hundred pips against me… I think it eventually went to breakeven… It goes to show that if you trade with a size that you are comfortable with, you can build in huge swings and collect carry along the way, waiting for price to ‘correct’ in your direction (unless you are going long the AUD/USD, silly)! Of course, it is better to come out early of a negative trade and re-enter in the direction of the prevailing trend, but if you are, for example, collecting carry, that interest will add up and, when back in the black, your trade will be magnified considerably, so sitting on those negative pips could be time well spent.
Sorry, long answer, in typical PipMeHappy style…

Happy Trading.

PS - What is the biggest drawdown that you have suffered? What is your current ‘bad patch’… do you have a few floating orders that are making you sweat?

Thanks for that ForexGump! All need that little boost sometimes when it gets dark!

PipMeHappy - Currently experiencing a drawdown of around 35% which is tough. That’s over about 2 month of pretty consistent losses. Before that I would normally grow the account anywhere from 5-10% a week. Maximum loss /week would be around the same. Lately I will admit to making some bad decisions but I’ve also been very unlucky with stop losses getting tapped and then reversing back the way I bet! Have to admit that’s knocked me which has affected the whole psyche and sort of printed more bad decisions!