I almost quit trading

Dear Fellow…

2 years ago. Lost 80% of my account and I quit.

6 months ago, try to trade again. At 1st everything is quite smooth. Until it happened…
I was in floating profit almost 40% of my account but it has not reached my TP yet. The worst part, It soon reversed until minus 80% of my account. How idiot and greedy I was. I wish, I woke up and found it was all just a bad dream. But, It wasn’t. It was XAUUSD.

Since then, My trading quite messy. I am afraid to take any set up an often interfere my trade because I am afraid it will reverse again.

I was using Signal and Forex manager (Split 50%-50% and acc gone in 2 days) only to feel the pain of loss (AGAIN). Currently, I am trying in demo account, an EA indicator (Forex voltage, anyone using it?). Not as I expected But maybe its still to early to judge (3 days in demo).

I am so tired. My set up mostly against me. Hit SL directly, or run profit a bit then reverse, or almost TP but then reverse.

I don’t want to quit. But I feel like I am lost. Cried a lot in the corner. When I writing this, Still in tears.

What should I do? anyone can share with me?

Sorry to hear your problems. Risk management protects your account. It is key.

Use 2% maximum risk for single trades and not more than 5% risk total for any live trades.That means keeping your S/L within that range…

I also used a demo account to practice and experiment on seeking a trending strategy and process to have a positive probability of getting more winning trades than losing ones.

So I always close losing trades quickly, and focus on the winning ones. Key. Practice small amounts on 1m - 5m FTSE and DAX trades when UK opens. DOW and NASDAQ when US opens. You will have fun to cheer you up.

There is no short cut, but perseverance is key on the road to success. Hope that helps

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Start over from scratch and learn about strategy, risk, etc.

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I’m sorry to hear about your struggles in trading. I know the feeling after facing significant losses, but it is important to pushback your learning opportunity.

Firstly Educate yourself for further on trading strategies and risk management. Then, create a clear trading plan and stick with it consistently. Then, manage your risk effectively by setting stop-loss and avoiding overleveraging. Get support from fellow traders. One thing more reflect on past trades and identify the mistakes or petterns.

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Hi, rest from trading and back fresh. New start with knowledge, strategies and properly money management, I had two crisis during 18 years journey, profitable traders doesn’t born with skills and knowledge, everyone starts from zero, you can learn it, just need time :slightly_smiling_face: Regards Greg

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Dear Fellows,

Thank you so much for your encouragement.

Truly appreciate your kind support.

Regards,
TJ

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We have all been there. No winner is born; they are made. You must depend on the one person that can help you to succeed—and that’s is no other person but you. All it takes to win after preparation is to try again. Good luck.

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You are absolutely right… :slightly_smiling_face:

Thank you

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A few things I think you need to hear:

You need to realise that trading is not for everyone. And that is a fact.

Risk management is crucial, if you don’t have an edge, your strategy is basically 50/50. You will win some and lose some. And you will never end up losing 80% of your account in one trade. The only way you blow your account is you size up too much on one single thesis and you lost on that trade.

And please forget about the trading bots… Trading is not easy and never meant to be easy. If at any point of your trading journey you start thinking trading is easy and you can rely on a bot, then your money would be the ones that goes into the pockets of the profitable traders…

You don’t sound like you have a strategy at all. You don’t sound like you put in any work into understanding your edge. You sound impatient wanting to see results after 3 days… You sound emotional when you are breaking down in tears after losing your account.
Honestly you sound like you have a lot of things to fix before you can start trading profitably… And please take this seriously because losing money when you put in the work is not fun at all.

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I felt like being slap in my face. Its hurt but its true.

Yes, lots and lots of to fix…

Thank you Doits.

profitable trading include trading via bots, but you have to gain knowledge how to build it and test it, each trader has to find own method, just for your info @Doits :slight_smile:

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a step or two back, dont rush it or get frustrated, I blew a couple of hfm accounts years ago, i was about to quit but decided to track back do some demo and just get more knowledge to come up with a semi workable strategy that can get me some profit. its normal. you got this

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Well that’s very sad to hear, sorry it went that wat but there is no winning without losing. Give it more time and be patient with everything. Best of luck in the future.

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I lost tons of money too, I’m only using demo account, not real account. I blew up many accounts as well.

I think trading is not for everybody, I think if you’re not good at it, there is no need to force yourself doing it, I see on internet 90% of people quit trading, so you’re absolutely normal.

I’m planning not do trading, maybe only doing demo account.
Always trading goes against me, I understand your frustrations.
I think you should think of other options, don’t solely rely on trading. Losing money is a big problem.

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You probably haven’t found a trading method that’s fits for you

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Thank you Profesorpips, Doits,Torchwave, Merry, dushimes, Steve, Jingoy, Charlotte and Princess :blush:

Yes…I will take a few step back and hopefully could come back stronger later.

Love you all… :smiling_face_with_three_hearts:

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You are welcome, Love88! Your gratitude means a lot to us all. Taking a breather can definitely recharge your trading spirit. We’re here for you every step of the way. Take care, and come back stronger when you’re ready!

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Dear Love88,

I’m sorry to hear about the challenges you’ve faced in trading. Here are some concise pieces of advice:

  1. Reflect and learn from your past experiences.
  2. Create a plan and stick to it.
  3. Manage your emotions.
  4. Invest in education.
  5. Be consistent in your approach.
  6. Use demo accounts wisely.
  7. Connect with other traders.
  8. Stay patient and persistent.

Avoid extremes and remember that success comes with experience and perseverance.

Best of luck!

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Actually, There was.

I was quite confident after back testing my method. But, when I apply it in real market. result is quite different especially when the market is choppy. From there, My trading psychology is ruined. Move SL further, close trade due to afraid and it turns out should be in profit if I just let it play.

you can say, don’t trade when the market is choppy. But, sometimes, We only can see the choppy pattern after it happens. When loss already happened, We say: Oh, ok the market turns out to be choppy. Fiuh… :smiling_face_with_tear:

I should go to Doctor Pips maybe to see if there is any cure for this kind of “disease” :thinking: :thinking: :yum:

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Yes Merry…:smiling_face_with_three_hearts: :hugs: :hugs: