moonchild
VIP Contributor
Blowing an account is not seen as a big deal in Forex, traders term it as a compulsory tuition that everyone has to pay eventually in the trading markets, I have been trading since 2020 and I have my own fair share of bad experiences, I think this is one of the reasons that make Forex unique from other types of online businesses, you put money on the line before you can play, other types of businesses have lesser requirements, it's mostly time investment and it can be overlooked by many or even be termed as an experience, either way, today we will be talking about blowing accounts in Forex.
My own story is I think around mid 2021, after learning all I had to learn, I decided I want to start a live account, I borrowed money from my uncle around $200 at that time and started trading USDJPY, which was a relatively non volatile pair, after successfully trading for three consecutive times. I was super excited which pushed me to double down my risks so that I can 3x my account on my next trade and that was the end of my account, it started in profits then after a while price started reversing and due to inexperience I held on to the trade thinking it will reverse back to my direction and that was how I lost everything, you don't want to hear my escapade with my uncle😁😁
My own story is I think around mid 2021, after learning all I had to learn, I decided I want to start a live account, I borrowed money from my uncle around $200 at that time and started trading USDJPY, which was a relatively non volatile pair, after successfully trading for three consecutive times. I was super excited which pushed me to double down my risks so that I can 3x my account on my next trade and that was the end of my account, it started in profits then after a while price started reversing and due to inexperience I held on to the trade thinking it will reverse back to my direction and that was how I lost everything, you don't want to hear my escapade with my uncle😁😁