Hello there fellow traders!
I have been trading for 3 years now, i have seen the good side of trading and that is why i’m still optimistic and confident in trading forex BUT, but recently i blew my account of 1500$ and now i have 100$ left… all because of XAUUSD… can anyone relate to my story or can anyone share a strategy on how to build back my account smoothly…??
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There is no easy solution, although you have learnt how easy it is to lose money. FX trading is always speculative and there are no guarantees.
I’m attaching a link to a pro trader who shows his DAX, DOW, FTSE, & NASDAQ indices trades live on telegram at no cost. Follow him one day and you could recoup your losses as you have clearly disregarded risk and money management.
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much appreciate your time and attention for reading my post! i will certainly send him the telegram request
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Look on the bright side, at least it is not 15,000! Small consolation, I know.
Losing money is part of the tuition you pay for learning to trade. I’ve been at it for over ten years (really, I lost count). I still struggle.
The last few weeks have seen brutal price action, probably due to the craziness in Eastern Europe, who knows. The key is, once you stop listening to everyone else and find a way to trade that is right for you, you’ll do better, promise.
Keep after it, just trade smaller. Also, widen your stops 
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I suggest you complete Pipsology. That’s the best thing to do.
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In outline, how did you blow up your account? These things usually don’t just happen one day, so it might be a pointer for some traders already on that downward spiral to understand how it happens and maybe how they can get out before the impact.
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Hi, why did you trade XAUUSD? This is a difficult currency pair to trade.
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Same and also what was the timeframe and over how many trades?
It’s a great lesson you’ve paid for. Hopefully it makes you a better trader because of it.
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I’ve bust out 2 x £2k accounts and now just take it slow and steady and have invested what I can afford to lose
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I’m sorry to hear about the loss but my best advice is not to give up because of it. I’ve also lost chunks of money myself and but I always tried to remember that it’s a part of it sometimes and not to obsess over those losses.
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just with draw and walk away bro lol… draw up a new trade plan
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“all because of XAUUSD”
Really? Did XAUUSD jump on your chart and force you to trade it? No, you chose to trade it. So,let’s fix that: “all because I chose to trade a metal with huge price swings (aka - ATR aka volatility) on a small account with insufficient capital. All because I took WAY too much risk with my small account.”
I’m sure you took way more than 0.5% to 1% risk per trade and you probably OVER-traded on top of that. This is why you blew 90% of your account.
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you need to build a consistent strategy and stick with.I charge for training
i can help you to restore your balance in a month
but i will have 50% of profit
and i need to know you broker name
and we will work for a month before i take any profit share
if you are ok with my offer then let’s work
if you don’t like my offer then just disregard it
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Hey,
Like others have said, you must have been risking big amounts of your capital or seriously overtrading.
I have two questions.
1: Did you follow your process and stick to your edge. Sometimes you can take the right trades, for the right reasons but simply be unlucky.
2: What feedback did you give yourself when your journalled your trades?
Cheers.
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Every good trader has lost at some point.Focus on the process and don’t give up.I offer training and mentorship
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Naw my 1500 account is now 5000, just do the opposite of what you did and you would have made 1400 and not lost it lol.
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Were i had seen that movie. Ah i did it to… Is, not the same trade a currency pair than gold or oíl…, even if you have a small leverage yo esily be swept… Or you pit and order and left the screen, and bam!! When you return the trde was in the opposite direction, or you dont use SL, your PS AND leverage is a bomb! So if you dont manage your risk… Bye bye… The gold can be generous but at the same time if you dont trade it well your worst night are… There are some reason so analyze your self what you did
Did you keep trading journal? What is the trigger for you to trade XU? Signal from technical analysis or news? Did you follow money management? Did you calculate how much value per pip for XU? How about stop loss, did you know how much to risk if market went the other way?
I suggest you read again babypips, if you finished earlier then read books recommended by babypips. I suggest you read Trading In The Zone by Mark Douglas and others Our Favorite Forex Trading Books Listing - BabyPips.com. Some advices here are good too.
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