Define wiping out: Losing all your risk capital to where you have to deposit more to continue trading .. or Losing all your risk capital to where you have to quit trading and go back to a real job
Most of voters are lier here. We have lote more people for "0" times. They want to make Newbies think trading is a easy business.
Never wiped out! I learned about the importance of MM before putting my bet. When I started my risk was 10%. The first book I read was "How to make profits in commodities" by WDGann. I was following the rules blindly so never had a problem. Good Trade! Trend
Getting wiped out shows lack of discipline. A trader who's undisciplined / unexperienced enough to lose all of his capital shouldn't be trading stocks, but paperbrokers and books. Happy Trading! ~Scientist