Quickest Way To Blow Your Forex Account
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- Опубликовано: 21 июл 2024
- In today's episode, Mark covers the key reasons why retail traders blow their accounts and talks about the importance of risk management in your trading routine.
This episode dives deep into the thought process behind making sure your emotions don’t overpower your knowledge and the steps you can implement in your own routine to avoid blowing your account.
Sit back, relax and get ready to take notes!
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"Patience is one of the hardest things for a trader to adopt. The truth is knowing when to stay out the market is just as important. Protect your capital rather than forcing yourself to constantly be in the markets and take trades that don’t fit your plan." - Mark Hutchinson #FalconFX #forextrading #fxtrading
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This topic needs to be discussed more. Lot of people are Never taught this. It's about the longevity not a quick buck!
This video came at the perfect time for me. Thank you!
I always new you trade the falcon style
Amayo Prosper actually she doesn’t😭
Blew my first account. Learned so much.
Over risking and making big figures is the quiet before the storm for sure...
honestly the free vids you put out are the best value on youtube
Falcon student here. Was running at about 1% profit but lost 4% in EURNZD last Sunday night due to the gap and slippage. I'm glad I risked only 1% on that trade. Got it all back and more selling the GBPUSD later on the week. I know a lot of people who broke their account this week. Very sad to hear that. Currently I'm flat as markets have been crazy lately. Not holding positions over the weekend.
Currently down 80% on my account. Revenge trading is absolutely horrible and risk management is an absolute must.
We would love to know your biggest takeaway from this video and whether you’ll be implementing any of the tips that Mark mentioned in the video. 🦅🦅
Wow. A very nice piece.
Alot of information taken up. Risk management is key.
Thank you @Falcon Fx
Just to keep a level head. Learning how to implement the correct risk
Also when and how do you decide to pay yourself/withdaw funds?
My biggest takeaway is that, if you mess up your risk management you could die! 😁 That is crazy but so true.
I am doing fairly ok with my risk management. One thing Mark mentioned that I am not implementing is a "maximum number of open trades at a time" or "maximum % account exposure at a time". I literally modified my daily goals list for today to include this in my trading plan.
Many thanks Mark and team Falcon FX!🦅🦅
bro you good
When started out i started with 0.5% risk and trust me when i say it was very helpful.What I learnt is that at the time I had so many loses to a point that if i over risked i would have blown many accounts and that own its own kills your confidence and your mental state as a trader. But looking back now all those loses where part of the process and this has not only helped to know what I was doing wrong but also shaped me as a trader.Now I am sticking to 2% per trade and I must say i am confident in my trading style and have an edge.
Priceless information! I blew my third demo account on that slippage. Thank you!
Every trader needs to hear this video
MARK was in beast mode on this one 😂👏 VERY WELL SAID SIR
Nice content...lost 30% of my trading capital due to Ego...currently building it up...thanks for this video
Great video, makes so much sense, appreciate the great content.
Bro, straight talk.... No bullshit. I love the way you bring the message across. 👍
I had to claw my way back up from a 14% drawdown while I was trading at 2% risk. It happened because I was too exposed. Too many open trades at once. Trying to play correlated and reverse correlation for/against each other. And it blew up in my face. Learned my lesson. Now I do 2 at a time. Only adding after 1of the 2 goes to B.E.
It's the best remedy for "overtrading".
wow.....fantastic video. I really enjoyed it. revenge trading is a problem I still have....will watch this video again Thanks Mark :)
best forex related channel on youtube!
quickest way to blow a forex account just right after i blew mine ,,,, hahahahaha
Hye thanks for the advice. I Lubs you Falcon
Can we get more chart work👋😫 it's been a while
Just recently blew my account lol I was having a good run then got ahead myself... 😅
We've all done it!
I'm very thankful for this video. I've learnt my lesson(chuckles)... The funny thing is I kinda knew I would blow that account if I continued that trade that day, but I just couldn't stop revenge trading at that point in time... Until it was too late. I was busy chasing percentage.
Thanks for addressing this topic.
a golden one , thank you !
Great video
What your talking about with total risk on your portfolio I call it portfolio heat. I only risk 1% per trade with a maximum of 5% of portfolio heat (level of exposure). If you do loose that 5% that’s we’re ASR comes in and you need to identify why you lost that 5% and were you sticking to the plan or did your psychology change to try and make a quick gain. The weakest part of your trading plan is the human behind it.
btw mark, What % drawdown are you personally comfortable with when trading your system?
Hope this is gonna be great
Thanks man it reminds us to stick to risk management
Why happened to your eyebrows? 😂... Love the video still 👍🏼
Watching the vedio after almost blowing my account
Lesson learnt the hard way
The important thing is that you're taking steps in the right direction! One step at a time.
This video have just saved me from myself.. thank you.🤝
amen to these videos
falcon forever 🦅👨💻
Hello Mark, when risking e.g. 1% what does that mean exactly? You only have 1 trade opened or 0.5% per position if you have 2 positions etc.. ?
He means 1 percent of your whole current balance in your trading account
Hey mark i feel like I've consumed too much forex knowledge it leaves me with a ton of options and directions i think the market could do when im trading and im left stranded and not even understanding what im Doing.. Please help
Forex trading is accessible, exciting, educational, and offers traders lots of opportunities.
How do you calculate your budget percentage with pips?!
do you need any assistance with trading options? do you need a company you can work with that will earn you money
I know you want me become successful, for you're always share the truth of this market. I am not only believed your info but also take that trading-psycho by heart and apply restrictly.
You know you are hearing from an expert when he has the ability to simplify the topic, that is why the strategy seems so simple although it is complex. Best mentor out there :)
I honeslty believe smart people really have a problem with trading. IQ doesnt mean consistency, EI does, Emotional Intelligence is the crux of any performing Trader :)
Comeplety agree, forex trading has even helped me in my everyday life especially with patience
If you are risking 1% per trade, what is a realistic percentage gain that you can make in one year?
Lolz
I think if you are skilled enough you can go risk big in the short term. Especially if you have a small account.
Does the gap in the market skip stoplosses or am I being stupid
yes it does ...and it wipe out, like no body's business
Yes mate, it does
Yes!
Its called slippage. You can have a stop loss of 1% in place, but a gap like that could lose you 5% or 10%. Very risky if you're in a position and you get a gap at open
I really thought you are the type of person who doesn't curse haha
🖤🖤🦅
...
I've been a victim. And I thank you for this video. A lot of information taken in
@@MarkHutchinson22 I will. Thank you for the piece 🙏
Plz ineed falcon strategy
Its pest powr full strategy
Aniga ayaa kusiinaya somalinimo ayaan kuu siinayaa aniga ayaa haayaa all course
My biggest takeaway is RISK is the quickest way to building/growing your account. 💲
"If you hang around with clowns dont be surprised when your life ends up as a circus" 😂⚛
Only when the tide goes out you see those who are swimming naked - Warren Buffet
Then i will be doing the opposite
Ohh big thanks to vchack02 on Instagram for her wonder strategy sold to now I make my cool maney