I think you can try it for as many times as you want. But somehow I found that my account password is not the same as the forum password, that is the case right? Even the username is the same.
I can't not remember my in-game account password as I could have reset it before shutdown. I used the email approach, after multiple attempts and finally landed the token email in spam folder, this was about half an hour since my first attempt.
Elysium account received my character now, Thanks Nostalrius!