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Today real live account blown - my experience #478418
10/17/19 12:01
10/17/19 12:01
Joined: Oct 2018
Posts: 77
S
SnoopySniff Offline OP
Junior Member
SnoopySniff  Offline OP
Junior Member
S

Joined: Oct 2018
Posts: 77
Today my account blew and I lost in total 1280€. I just want to give you some thoughts. Might these be of help when considering to take action trading capital with Zorro.

At first: I don't blame Zorro for the loss. This is a very risky market environment and maybe you could compare it with playing in the champions league. You should just do it when you are ready for that.

Zorro proclaims to take the money from the rich to give it to the poor.

This is a reputable approach to help people in financial need and so I took the chance as an investment with this robot might be a way to get out of the modern slavery treadmill for money. Maybe it was kind of make me feel safer than I was because someone who offers software with this motivation, how should I lose money? It should be less risky than most other robots on the world wide web.

I think I found Zorro a month later when I started trading last year.

So...
- I followed all instructions of the zorro help and choose the Z12 script to trade my money.
- I didn't invest more capital of my balance than recommended by the backtest result over the last 10 years. I tested countless times.
- I traded manually to get some practical experience to be able to kind of know and assess what is going on.
- I programmed a lot of ideas but none of them was profitable.
- I invested countless nights, weekends and vacations.

Today, after my account is blown, I am at a point where I am considering to give up or to dig deeper. Maybe it's not for me.

Don't think that this is a way to get rich quick. It might seem to be, but it isn't. It's more like to get poor quick. That's very easy. If you are starting off very good and making decent profits, don't get excited. My experience is that this is just temporary. There will be drawdowns and one of it can kill your account.

The funny thing for me is when I was starting off I lost half of my 1280€ till around December even I stayed below the recommended capital. I stop Zorro Z12 and reconsidered. Tests show and help says there will be drawdown months. I went in again and last week I was at 1250€ and so I almost made back my losses.
Then just in a couple of days, I lost all my money. Zorro went short on GBP/USD and at first it looked good it brought me back a big chunk of my losses. But then GBP/USD started going bullish and it just didn't stop. Zorro was closing positions to reduce the risk and tried to maintain some balance to survive but eventually, it didn't. I couldn't make a deposit as I wasn't able to put in money in a losing streak. How much money should I deposit to get over it? I need the money for my next appointment at my dentist. So I didn't do anything and just hoped in vain.

If I would invest again with Zorro I would stay way below the recommended capital to invest cause it just needs a move stronger than it happened in the last 10 years of backtesting and your account will blow.

Zorro is not a scam as somewhere here has mentioned. But you have to be very careful and at times very patient.

Unfortunately, I gave even more money to the rich and my hope was to help me and then to help people in my environment as well but I have to postpone it.

I hope it's a help for someone here.

All the best and trade safe, safer and safest!

Last edited by SnoopySniff; 10/17/19 12:06.
Re: Today real live account blown - my experience [Re: SnoopySniff] #478419
10/17/19 13:25
10/17/19 13:25
Joined: Feb 2017
Posts: 789
Chicago
AndrewAMD Online
User
AndrewAMD  Online
User

Joined: Feb 2017
Posts: 789
Chicago
I'm sorry that you had to experience that.

For your information, I do have a success story to tell later this month, once I have some free time. I hope that it can be a source of inspiration for the frustrated.

Re: Today real live account blown - my experience [Re: AndrewAMD] #478420
10/17/19 21:21
10/17/19 21:21
Joined: Oct 2019
Posts: 9
Clifford_B Offline
Newbie
Clifford_B  Offline
Newbie

Joined: Oct 2019
Posts: 9
I am sorry that you had to experience the anguish at seeing all your money wiped out. I remember times when I lost much more.

Re: Today real live account blown - my experience [Re: AndrewAMD] #478421
10/18/19 09:54
10/18/19 09:54
Joined: Oct 2018
Posts: 77
S
SnoopySniff Offline OP
Junior Member
SnoopySniff  Offline OP
Junior Member
S

Joined: Oct 2018
Posts: 77
I would be interested in your story.

Re: Today real live account blown - my experience [Re: Clifford_B] #478422
10/18/19 09:55
10/18/19 09:55
Joined: Oct 2018
Posts: 77
S
SnoopySniff Offline OP
Junior Member
SnoopySniff  Offline OP
Junior Member
S

Joined: Oct 2018
Posts: 77
Thank you, Cliff.

Re: Today real live account blown - my experience [Re: SnoopySniff] #478427
10/19/19 17:09
10/19/19 17:09
Joined: Oct 2019
Posts: 9
Clifford_B Offline
Newbie
Clifford_B  Offline
Newbie

Joined: Oct 2019
Posts: 9
When I first started out trading was like a casino to me. I was not algorithmic trading and it was very emotional filled with highs and lows. Very exciting. I used to trade the news stories and go long or short based on the result. This was 12 years ago before retail traders had some of the tools they have now. It was a learning experience. The news came out and it was positive but the stock went down. it was being manipulated and I was on the wrong side of it.


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