so what happened after the broker went out of business? did you get paid at all.
There are guys on here opening accounts with $100 or less. BP has traders from all over the world and in some countries $100 is more than a months salary.
After the Swiss event I split my account into about 10. The ones I trade with typically have between $300-$1500 in them, depending how well my trades are going. I don’t usually open a new trade until my current trades are in profit.
If I lost all my accounts, it wouldn’t cause me any issues. I’d be a bit pissed about it, especially if it was my own stupidity that was to blame, but I could refinance and start again if I wanted to.
I’m trading because I enjoy it, not because I need to or want to get rich quick. Some people drink, some gamble, some take drugs. I trade forex.
My broker was one of those who didnt go out of business. Again, just luck as 1 of the 3 I considered opening an account with did go out of business, Alpari UK.
Is it gambling to you eddieb?
Theres always an element of risk, but you need to treat it as a business or investment. Do due diligence on your brokers, learn as much as you can, demo trade, develop a strategy and a trading plan. Decide what you want to achieve and how much you’re prepared to risk on every trade.
Its only gambling if you dont understand what you are doing, dont have an exit plan, or don’t know why currencies move the way they do.
would you say you have a good trading strategy? Do you profit consistently?
How much more have you made since you started?
what kind of trades do you make in your $300 account and what kind in your $1500 account?
Most of my trades are made in either of two ways.
One is explained in my Balls Of Steel thread.
The other is explained in the 3 Ducks Trading System thread.
Too much to explain here but plenty of reading material in the threads
Do you profit consistently?
When you say that do you mean forex is the same as gambling, drinking and taking drugs?
No, I mean I don’t spend my money on or get enjoyment from drinking, gambling, or drugs. I spend my money on and get enjoyment from forex.
The day I stop enjoying it is the day I stop trading
are you full time trader? how long have you been trading? do you have a family?
Spend a few months at the school here, take ALL the quizzes, keep reading the threads, and at the end of this you will be able to devise a strategy and trading plan to suit yourself.
Thanks Eddieb for this comment. I only hope that many, many traders, new and experienced, pause to really think about what you are saying here.
If trading is [I][U]only [/U][/I]about an urge and ambition about making big money, and fast, then it is unlikely to succeed and most likely to produce a whole lot of frustration, depression and financial disaster - as is often written about on this site. Forex trading is not a constant action, money-making cash machine churning out new millionaires every day. It is either a business or a hobby like any other business or hobby.
The key element behind those that run a profitable business is their passion for their industry as a whole and the satisfaction they get purely from being immersed in an industry that they love and developing their own particular product and market niche within that market. Profit is almost a secondary issue, primarily to simply keep them in the activity they love.
Similarly, if one is passionate about a hobby then one willingly invests/spends money on it - and often huge amounts like with photographic equipment. The point here is that if trading is a passion then losses are not an issue provided they do not wipe you out. They are an acceptable cost of being able to enjoy one’s hobby. If, on the other hand, you [I][U]only [/U][/I]trade hoping to make profits then every loss is a big negative and can even detrimentally affect your future trades.
There is as big a need to think about how and why you trade as there is about what strategy to use. It is precisely these multiple aspects that make trading so fascinating and absorbing: studying your entire international market, deciding on your own favourite market segment, developing your product, testing your product, launching and monitoring its success and failures, setting your projections and targets, analysing your results, communicating with other market participants and much more.
Studying currencies is about studying the nations and economies of the entire globe. There are so many fascinating spinoffs from such study. History, politics, economics, culture, travel - in my case I even started collecting paper banknotes 
But I am rambling…Happy New Year and a Successful and Absorbing Trading Year 2016 to you all!
Difficult thiing in forex is how to making profit consistently, which sometime loss occur, usually as trader after they open any entry point actuallly they hope price will move to their favour, but in fact sometime still against their order and as tarder they need risk management to avoid big loss due mistake in analysis.
The hardest part is sorting thru bad information. Finding the right information, is imperative to starting any business. The problem is, you dont know whats right or wrong, when you know nothing about it from the beginning. - MoneyNVRsleeps
Theoretically, in a case of a Black Swan where a SL wouldn’t do the job
due to slippage and i end on one account with, lets say -$1000,00 wouldn’t
the broker cover the missing amount from the funds of the other accounts?
Read your brokers TandC’s and use a broker regulated in your own country not somewhere else with less stringent regulations. Its your responsibility to protect your own interests, don’t assume the broker will put your interests ahead of his own.
Alright, thanks for the fast reply.
This is reasoning to be in the market as little as possible, and making the most of the Trades you make.
Never know when something can happen, split seconds out of no-where, its all gone,…
Find a certain time of the day, backtest its efficiency with your strategy in that time lot. Then make the most of it when your assumption tells you to take action…
The limit i want to be exposed to the price is not more then 5-10 minutes a day, hopefully less, like seconds.
Whole new plan folks, #Takeaction