Hi friends,

       By my stupid mistakes i made in gold n eur/usd.... my 500$ account is now :@ just 25$. I would like to ask know what strategy i use :S i dint even see the news and in two days i made all this mess :S ... i m investing again 100$ ... someone guide me .... !!!!

Go directly back to demo. Do not pass go, do not collect $200.

And stop playing with gold.

Go to something that moves nice and slow, like the USD/JPY.

But i need some money to get back on track. I have to invest at all cost because the 500$ i took was a loan from friend for one year without profit ! … i m taking 200$ from my brother to invest again. Your right that i should move on USd/JPy.

You broke a cardinal rule of the market:


First bit of advice is don’t borrow money to trade, especially when you have no evidence of a profitable system. One of the top 10 rules of trading is to only use funds you can afford to use. If you don’t have your own money, you have no business trading. Stick to demo until you have your own stake and while you get your system/method sorted out.

well the problem is with the market … i do admit that i made mistakes but is there any way to know when market is in trend ?? now its going up from 1.3200 … It hadnt happned yesterday but unfortunatly its happned today :S

Refrain from live trading until you can afford to fund your account with money you are “allowed” to lose…
FX is very, [B]very[/B], VERY, [B]VERY[/B] risky and speculative… go back to demo and find a consistent strategy.

Others are right that you broke a cardinal rule in not trading with money that you can afford to lose, but for me you just broke a second rule, here: you blamed the market.

The problem is not with the market, the market is just what it is. We either trade the market effectively - and make money consistently over time - or we fail to trade the market effectively, and we lose. If the market were at fault, we would all lose at the same time, and that just doesn’t happen. I am afraid that you lost here because you were not ready for live trading, and you risked too much money so it turned out to be an expensive lesson.

Seriously: go back to demo and find another way to pay your debt.

Just one: Use Stop Loss until the day you die.

well friends i admit what i did now there is no one to blame[market]. I did mistake that i traded on gold… u know i took my 500$ upto near 800$ i also withdrew some amount for personal use and give a % to my friend as we made agreement. Now, i m agar borrowing nearly 120-150$ to move up again. Mr.gone is 100% right that i should use stop loss, it really appeals me. I dont know what happned i brought sentiments in trade :stuck_out_tongue: u know i missed 7 chances to go for sell in eur/usd in last 3 weeks. damnn

Well, it is good to admit that, and respect to you for coming on here and acknowedging your losses - but I would repeat that borrowing money to start trading with is reducing your chances of success.

And don’t stress on missing setups - with a decent strategy there will always be more, and you don’t need a lot of trades to make money. Slow and steady wins this particular race.


FX is a marathon, not a sprint :slight_smile:

I go with the others. Plus a little deeper: Stop trading at all! You broke every rule out there and it would probably need at least a year if you are very very good in learning until becoming consistently profitable. Until this time you can very likely only lose with that gambling. That’s more trouble, not less. If you owe money to some, try to get it from other sources. Because right now it is fact that fx for you is a drain and no source.

I agree with what is already stated learn a strategy on demo before ever trading and use you own money to do so.

I must warn you about the second you will ever make as a trader and will most likely be your last. You are about to repeat the same process that got you in this boat. Whats the definition of insanity?

well, friends i m totally agree with you. As everyone knows that market (eur/usd) is going in buy trend. I made upto 700$ u know guys. What i did i opened a trade and just for no reason i got a nap :S dont know what it was but it ruined me :P. Ill go with Simons advice. That what i was thinking. This time i got 3 chances to do trade and u know guys broker told me that. My account is now 25$ so if i invest nearly 150$ it will be good. I m doing that because i have to pay my university fee which is 50$ per month. I have to move again :smiley: i have 2 more chances to borrow money but first i m borrwing from my elder brother :stuck_out_tongue: it wont be a loan just a gift :stuck_out_tongue:

Dude. Trying too hard to make money in this business is THE fastest way to lose it. Take it from someone who knows - I blew up a $100,000 practice account in about a week trying to make up for losses. It just kept getting worse and worse until bam, it was down to about $1000. I’m glad to this day that it was just funny money in a free practice account.

  1. NEVER trade with money you can’t afford to lose
  2. NEVER try to make up for losses
  3. NEVER enter a trade without a stop loss.

I’m still relatively new to this and those are the three things that I learned within a day of starting. Learn them quick or you’ll blow up again.

Dam true!!! You must have a 9 to 5 job, i hate the one i have, i have something like 2000 USD in debts (here in my country is a fortune), half of it in a high yield credit card and have a wife with expensive taste and expensive medical expenses. In my case, i have a real acc with jut 500 usd and i’m doing it well, by the end of the year i’ll switch to an ecn. Meantime i pay gradually my debts but not all for once because if i kill credit card debt i’ll stay with no cash and i’ll be forced to use credit card again. Then i take care of my wife and i give her hard pressure to cut unecesary expenses. Yes she has left me several times for that because she thought i was cheap, and i was stupid enough to be afraid of abandon and so i’d preffered to spend more than losing her. But one day i’ve asked for divorse and things have changed since then. She is warned, one more useless expense and i’ll be gone. Self enterpreuners are not easy to find anyway.

So while i was financialy broken i’ve decided to open a managed acc with just 200 USD and it was a good desicion because it gives me good interests but is not a fortune yet. It gives me a little emotional push to go trough the situation. My fx account and my managed one are both growing and my debts are decreasing little by little. I made an oath with myself: “Never withdraw funds from those accs no matter what” until they can put bread onto my bare hands. I’ve killed the chicken of golden eggs so many times that one day i’ve said enough is enough. If my wife wants her carreer so much that i have to sacrify myself to support her, why cannot sacrify myself for my own? I am a good trader with little funds, if i cannot add more at least i’ll keep what i already have.

If you are in a situation like mine you must take trading as a serious thing but not deppend from it. You must start with yourself, train your mind, you must lose weight and keep healthy, you must do excersice i recommend you spinning in a gym full of women, yeah!!! my favourite part of the day. The most important thing: you cannot be negligent with your life because of trading and vice versa, they are two separated activities that you must learn to go trough without letting one depends from the other.

There is no thing called easy money, if you want that go with the Drug Lords but i must warn You, DEA, Mossad, SAS or another drug mob, they do not knock at the door


well guys thanks for help… what i made in my mind is that i wont enter market again on solid trend either i have to suffer this again. secondly, i place pending orders on head and tail of candle bar just 20 20 points above/below just before the news appear. It would be rather helpfull instead opening a position diectly confirming the trend.

Mr.gone… i took it seriouly what i did i took a nap i dont know why :S i made 700$ you know i spent all of them in different things like university fees etc. well no problem, hope sustain i know ill back again online .. ill sell my kidney :stuck_out_tongue: for it :smiley:

well, as concern with women :stuck_out_tongue: i m searching pieces or cancer girl for myself :smiley: pieces have awesum eyes and cancer have deep emotional… i m also a cancerian :smiley:

Have to disaggree friend, the market is not at fault. the market is a concept, not an entity that is out to get you. if you have blown your account, especially within days, it means that you have overextended your risk, or not planned out correctly. to try trading gold with $500 is way too much exposure, did you even have a SL and position size calculated? or did you just go for a set contract size?
and when the trade went against you did you seek revenge on the market, trading in the other direction? that is always a mistake. if your system is trending you should also find that you wont use it often, that you must identify the overall conditions as trending, otherwise you will get whipsawed, like i imagine you did.