Dear All,
Most of you know me, especially Curioso, as I’ve been working tirelessly since I discovered the Forex market. It’s been nearly two years, and I’ve been committed day and night, thinking of how to stay profitable and achieve my dreams.
Unfortunately, last Friday, I made a significant mistake and blew my account from $100 down to $2. Ironically, during the same time, I placed 3 trades on my demo account without any losses.
I know this journey is extremely tough, and I’m aware of the potential in the XARD system. However, my mindset hasn’t been fully trained yet, which led to my account blowout.
That said, I’m okay and have accepted what happened. I spent a day reflecting and recovering my mindset. After growing my account by around 20%, I lost it all in just one hour. It's like the saying goes: building a house takes time, but destroying it can happen in an instant.
I would really appreciate it if my colleagues could share more live trade examples. I’m familiar with reading charts using the 2nd dot and the 4-mindot. Analyzing past data is fine, but live trading remains a challenge for me. I like taking trades after the 2nd dot appears.
For those wondering why I blew my account, here’s what happened:
1- After a loss, I panicked and felt the need to recover immediately.
2- I still don’t know what to do when the up or down arrow appears—I often assume a reversal is coming and take the trade.
3- I made impulsive trades without thinking clearly, and after multiple losses, I increased my lot size to recover, which ultimately led to blowing the account.
4- Another key issue was that I kept switching between multiple versions of the system during trades, which also contributed to my losses. This inconsistency made it difficult to follow a clear strategy and stick to a solid plan.
Everything I did went against what I’ve learned from this forum and about trading in general, but I accept the consequences.
I'm sharing this because I want to encourage everyone who has experienced failure to take the time to analyze why they failed. In the screenshot below, you'll see that I took multiple trades in less than 3 minutes, going in two different directions without any clear strategy. This is exactly why Xard777 and many others here emphasize the importance of managing our emotions and staying disciplined in our trading.
If anyone can share with me the exact strategy rules and the version you are using to enter and exit trades in more details, I would greatly appreciate it.
Finally, I will never give up until I achieve my goals. Wish me luck on my next attempt, everyone!
I’m open to any advice you have to offer and will gladly accept any suggestions you feel are necessary to help me improve.
Attachments forums
Re: XARD - Simple Trend Following Trading System
tmostafa007, Sun Oct 13, 2024 4:37 pm