blew my account can I ever recover?
- Thread starter bat1
- Start date
1) If the OP is lyin, then shame on him. However, new traders can blow an account the fastest!
2)I blew out my account back in 2000 thinking it can only go up. It goes fast when you don't know what you are doing.
Not having any brains... got some more cash and I continued to think it was going up from 2000 to 2003. Got out at the bottom.
AND...I came back. After paper trading my confidence back, I am considerably wiser in my old age. It is possible!
Bat1....
In conclusion,
You're saying that watching key S & R levels is pointless? Intraday? Daily? Both?
As said why will this time be any different? I will tell you that I have blown out my account and lived to tell about it. It required major chances on my part though. I had a profitable approach but lacked discipline.
What made me develop the discipline? I had to work for minimum wage at Dunkin Donuts to help pay some/any bills. Knowing that I've made more in an hour trading than i did in a week as a "coffee jockey" and that I could be doing that(or something like it) for the rest of my life caused me to get on track.
If discipline is your problem get it together, make your plan and trade accordingly. If its your method that sucks then don't trade another cent until you get a method that gives you an edge.
What made me develop the discipline? I had to work for minimum wage at Dunkin Donuts to help pay some/any bills. Knowing that I've made more in an hour trading than i did in a week as a "coffee jockey" and that I could be doing that(or something like it) for the rest of my life caused me to get on track.
If discipline is your problem get it together, make your plan and trade accordingly. If its your method that sucks then don't trade another cent until you get a method that gives you an edge.
I have suffered many blowouts, though most of them were using 100. to 300. at a time in 08 learning how to trade options.
I blew out my futures account early in 08 but only had 3000. out of pocket, which I more than doubled before making a fatal, overconfident mistake one day. Lost 85% in one day! SO stupid lol
In my three years of stock (and one year options) trading, I have had mixed success. My stock account has been completely wiped out twice. Both times I was out of work though, I used my account balance to pay months of bills while my trading floundered under the stress.
2008 was my first profitable year for my stock and options account.
From mid November to now I have taken my account from 800 bucks to 7K not counting 2500. in withdrawals to pay bills...damn bills!
So things look good going forward, we all go through trials and tribulations learning to do what is probably one of the hardest things to be successful at, trading. Takes 100% passion and determination and the ability to learn and change in a huge way.
Good luck!
P.S. How the hell do you blow through 240K!!!!???? Right now I would practically kill to have access to that kind of money. You shouldn't have to risk jack shit to make a decent living with 240K if you know what you are doing or have any business trying to trade. Get it together!!! lol
I blew out my futures account early in 08 but only had 3000. out of pocket, which I more than doubled before making a fatal, overconfident mistake one day. Lost 85% in one day! SO stupid lol
In my three years of stock (and one year options) trading, I have had mixed success. My stock account has been completely wiped out twice. Both times I was out of work though, I used my account balance to pay months of bills while my trading floundered under the stress.
2008 was my first profitable year for my stock and options account.
From mid November to now I have taken my account from 800 bucks to 7K not counting 2500. in withdrawals to pay bills...damn bills!
So things look good going forward, we all go through trials and tribulations learning to do what is probably one of the hardest things to be successful at, trading. Takes 100% passion and determination and the ability to learn and change in a huge way.
Good luck!
P.S. How the hell do you blow through 240K!!!!???? Right now I would practically kill to have access to that kind of money. You shouldn't have to risk jack shit to make a decent living with 240K if you know what you are doing or have any business trying to trade. Get it together!!! lol
