Ever Blown Your Trading Account?

RachelEB

Corporal
Messages
101
Just blown my account last week but that was very small account and I staked all on 1 trade. It was kind of double the balance or lose all, so here I am with blown account. That reminds us all to be proper risk managers while trading.
What made you decide to stake everything on 1 trade?
 

Snowball

Recruit
Messages
5
If the the Strategist, Risk Manager/Controller and Trader/Executer are the same person. The question does not really make sense.
 

bigdolly

Sergeant Major
Messages
944
If the the Strategist, Risk Manager/Controller and Trader/Executer are the same person. The question does not really make sense.
Well all these functions can be incorporated into the profession of retail investor. So it does make sense but I think it will require a lot of mental and intellectual capabilities of the person to handle that.
 

Snowball

Recruit
Messages
5
Well all these functions can be incorporated into the profession of retail investor. So it does make sense but I think it will require a lot of mental and intellectual capabilities of the person to handle that.
Of course everything is possible. But I never meet such a person. Yes, there are really intelligent folks out there and yes again, there are also folks who have strong mental capabilities. And exactly these folks do always work in a group. If I would trade the markets again, I just want to be sure to protect me from myself. I worked quite some time in the financial industry and nobody of all the smart folks I met walked alone in the markets. Yes, I heard about some exceptional traders with incredible returns year over year. I just never met such a person.
 

bigdolly

Sergeant Major
Messages
944
Of course everything is possible. But I never meet such a person. Yes, there are really intelligent folks out there and yes again, there are also folks who have strong mental capabilities. And exactly these folks do always work in a group. If I would trade the markets again, I just want to be sure to protect me from myself. I worked quite some time in the financial industry and nobody of all the smart folks I met walked alone in the markets. Yes, I heard about some exceptional traders with incredible returns year over year. I just never met such a person.
So you mean that successful retail investors or traders are myth? Or their good performance is temporary based on luck:)
 

Etedus12

Sergeant
Messages
174
Seems like your win was a coincidence or it happened because of your luck. You made a mistake by not analyzing the situation after your fast win, if you did you would see what are the metrics and was it one time win deal or not. Also it is important to control your excitement and not to do any rush movements.
 

Olieng38

Sergeant
Messages
128
I relate well with this kind of incedent, and it is a very common experience for traders to blow accounts every now and then. My advise is that you should never involve your emotions in the trade. Blowing an account is normally as a result of wrong judgements which of course come from greed. Learning from our past trading mistakes is the best we can do anyway.
 

RachelEB

Corporal
Messages
101
I relate well with this kind of incedent, and it is a very common experience for traders to blow accounts every now and then. My advise is that you should never involve your emotions in the trade. Blowing an account is normally as a result of wrong judgements which of course come from greed. Learning from our past trading mistakes is the best we can do anyway.
Not personally blown an account, but defiantly relate to the emotional control you need and not over risking a trade to compensate for losses.
 
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