melisky,
The first thing that jumps out and some may have pointed to it on this thread, is that you could be trading beyond what your account can hold. In fact, this is serious Rambo factor stuff.
Try trading mini contracts and ensure your account is properly funded. I think the advice on this site would be to have an account of $10k for one mini contract, something I agree with. If you trade full sized contracts, this would mean an account size of $100k for each contract!
I Have had margin calls most due to my emotions , some due to broker slipage. So there are different reasons . One way to avoid this in the future if you trade the same pair everday at the beggining of trading figure out what you are willing to risk for the day. And set a stop at that point. In both directions and DO NOT MOVE IT !!! Unless your making money Then move a little so you don’t lose all you made…
Good Trading Ken LeeI gotta say, you got some big brass ones if you are trading a standard lot with less then even 25k. I think its pretty evident that you were trading out of your means. Im by no means a good trader, but I can tell you that trading a standard lot with not a lot of expendible income is a terrible idea… I just hope that this lesson in no way shape or form damages life outside of forex.
Good luck and I hope you have better times.
Hi, can you explain to me why it’s a bad idea to trade standard lot with a 25 000$ account?
I don’t do any long term trade (I really need to sleep the night, don’t want to stress because of that).
So, if I trade to get around 20 or 30 pips by trade, and I use stop lost (at least… start to use…) where is the problem?
With that kind of trade whats the difference between having a 25 000$or a 50 000$ account?
have just read the FIRST post but not the others which im sure have already answered your question, but you said the indicators indicated OVERSOLD, so you REMAINED IN ?
needless to say, if nothing more, get to learn the meanings of the word OVER and UNDER !
AND take some profits.
no reason i know of not to use one lot with a 25K account !
mp
MP, I’d readed many post you made, you seems to have alot experience… May I ask, what pair do you trade, what’s the spread and what do you think about this post?: 301 Moved Permanently
Thank you very much!
Well I guess I should rephrase it isnt a bad thing… but it is if you have no money management 
I get the impression that you are extremely desperate to make back your money. That is the absolute worst position to be in when trying to extract profits from the market, I assure you. Do yourself a favour and take an extended break from trading. And when you come back, focus on LEARNING and gaining experience. Don’t expect to get that money back for a very long time.
If you think you’re going to find some winning system and then get all your money back, forgiving you of your big big big margin call mistake, it’s not going to happen. It’s pure fantasy, and if you have to lose even more money to learn that, so be it. But at least you can come back and see that someone cared enough to warn you about reality.
Just a personal note - in reference to TRO’s (The Rumpled One’s) thread -
My philosophy - [B]Learn all you can from all you can.[/B]
Where the first all is amount of information you can take in and
the second all is referencing whomever it comes from. I’ve learned tons from millionares to (I’d like to say homeless folks, but I don’t personally know any) not so well off folks.(I’m in between there)
A bit vague maybe, but in my opinion, TRO gets a bad rap because he knows stuff.
I do not know the person, nor do I know what he knows, but I found his “Never Lose Again” thread VERY VERY informative - problem for me I don’t “SEE” it yet, but I think everyday I get a bit closer.
Study, study - and your gut will tell you what or who to trust - it’s pretty amazing, there are some that say an EA or robot - is crazy, there are some who say (and actually sell their robots) automated is PROFITABLE.
The only thing that I think I know - FOREX trading is NOT for faint of heart. If you can’t afford to lose it, then maybe you can’t afford to be in the game.
I mean no sarcasm, probably just a little self reflection.
Discipline and Money Management are some of the most important traits that you must learn.
Also, keep your lot sizes small so that if a trade does go sour, it won’t affect your account that much. Always try to do whatever you can in order to remain in the game.
Interesting post — I kept looking to see if i had written it.
brings back a time i was watching tv out of the corner of one eye and creating a decent omelet with the other (well, my hands had a part in that operation also) and i caught a scene that i thought was gorgeous, with exquisite camera moves and just SO beautiful, and i felt jealousy and perhaps envy ---- after the initial pangs of hatred towards that OTHER DP, i then i realized I HAD SHOT THAT MOVIE !
so many principles in that post that seem as if i had said it, that i kept looking to see if i HAD written it in another life — but no, it really is someone elses work, but i agree totally.
the “grail” is within yourself (somewhere around the pancreas i believe) and used in any manner you wish. Its the experience and psychology you bring to the table — the ability to SEE and understand what is happening is what i post about constantly — and offer some of the tools that have made it possible for others to “see” also on my thread over there around the corner, and next to the gingerbread house !
its stepping BACK away from the charts and LOOKING at them as if to actually see the forest, and not be confused by whether there are oaks or elms or pines or whatever ! It comes from experience and a zen like calmness which breeds understanding — but without getting metaphysical here, its just something you LEARN over a period of time that you couple with the other “tools” you have available.
so many want to dive in or hope to find SOMETHING that will make it easier, so that they can skip the learning process and just get on with MAKING MONEY, and they find it just aint that simple.
if you take the time, wait as each piece of information sinks in and becomes added to the OTHER pieces of information, you begin to understand what looks like a silly and random jumping around of numbers is actually a very DIRECTED situation ---- you just have to step back from each tick of the chart and SEE the direction and KNOW where the speed bumps are (support and resistance) so you can trade with some FEEL !
some do extremely well and some do very poorly, and in the middle are literally TONS of people doing JUST FINE !
work at getting into the middle of the middle and then see where it takes you ---- continue learning and absorbing and trying (even with a demo for ONLY the amount of real money you intend to trade) and it just COMES TOGETHER one day.
watch out on that day cause you might just well punch yourself for having missed it for so long, and its best to earn a bit of money before you have big hospital bills !
OH YEAH – right now im trading the EURUSD at 2 pip spread for no other reason than thats what im trading — i wander around in a rather random manner, which could certainly be improved with some research into WHAT currency is PRESENTLY in a good trend, which has the lowest/highest volitility, which has the lowest spreads so shorting is simpler — all that good stuff !
But im lazy and so i stick with one or two currencies for a while till i get bored, which usually takes a month or so, and then (fickle as i am) i run off to another smiling face and well turned ankle, and start a NEW relationship.
Now, one doesnt just pick up and start a new relationship that simply — i make the currencies do a “lineup” for me, where i can judge their “physical attributes” most easily — kinda like consumer reports judging vacuum cleaners. To do this, I look at an H1 or H4 chart of each currency and pick the one that appeals to me — today it might be a VERY smooth and simple chart, with no big jumping around or tomorrow, i might go for a mexican jumping bean, because i feel like scalping the 30 second chart for a few days, just to get the sluggish bloodflow streaming faster again !
Cant always tell ya what i want to do, although i tend to “mix it up” a bit, but THAT is the way i find what i want, even if i dont always KNOW what i want when im starting to look !
enjoy and trade well
mp
[I][B]Within the great hall at Elfinore stands a wondrous coffer, precisely four cubits square and securely latched against the outside world. Inside that repository, shut away from impertinent eyes, abides many an intriquing trading secret garnered from around the world and over the ages !
As a child, i used to watch from the darkness as the secrets were debated and annotated by the elders. No one there held a single thought of my presence – BUT I KNOW WHERE THEY HID THE KEY !!
[/B][/I]
We get margin call because of entering this market without proper knowledge and training. Most of the traders who get margin call in their first trade is because of lack of knowledge and training.
That’s a real smart post. If you take nothing else from this thread, focus hard on those 2 elements highlighted above.
You can have the best strategy/system in the world, but unless you can get a handle on your discipline & apportion sensible risk & position management, you may as well dump it straight in the trash.
[B]akeakamai’s[/B] comments back at post #28 are worth considering too if you’re serious about taking this gig a little further.
Well, because it’s a fraud?
Is it the correct answer? I’m sure it is.
http://forums.babypips.com/newbie-island/18969-very-hard-trust.html
And about android, the market is WAY TO FAST to have time to deal with all the data it need.
Well, Jocelyn, when you lose 16 000$ (real cash) in about 2 hours, you learn faster then ever those concept. Don’t worry, I get it now.
Some of you could think I’m rich, but I assure you, I’m not. It took me a serious time, hard work and sacrifice to get that money…
But there’s no way I give up.
No Fu***** way!
The next time I come back live, Im going to use my mostly my brain rather than JUST indicators.
But thanks to all of you for your support.
How much was the chair worth?
Now you’re out 16k and a chair.
Let’s recap… Lost 16k (and a chair) in two hours on a 200 pip movement. Do you want to be a gambler or trader? Most folks on here can only give you trading advice. To get advice on losing 16k in 2 hours on a 200 pip movement you will need to go to a gambling forum and not a trading forum.
BOL2U:)
The very dead chair worth not much. I didn’t pay for it. I get the table and 4 chairs with it from a friend that don’t wanted it anymore.
In a way, it helped me to destroy it so… It was worth it.
And yes, of course, I want to be a trader, more than ever!
And I’m going to do what it take to get there!
Three more margin calls and you will be out of chairs.
You forget the table my friend.
lol!
A few questions:
I’m going live in a few days (micro account) and have studied and practiced with the ichimoku method Ichimoku Charts.com - Home …but while waiting for long/short opportunities i study candlestick formations and look for opportunities to grap a few pips here and there.
If you have the desire to continue, you should learn as much as you can about the style of trader that you are …it appears that you dont like long trades, so ichimoku might not be for you, but there are plenty of swing styles that may suit you. Also for each there is usually a community that you can connect with.