Tired of losing money in forex - Page 2
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Thread: Tired of losing money in forex

  1. #11
    Do not be discouraged. I was wiped from my account twice in a row when I first started trading a few decades back.

    I then decided to be serious and treat trading like a business and I spend time learning from online courses and reading some Currency Market sites to obtain knowledge.

    At this phase, you may still lost money if you trade because what you are lacked of is experience.

    You should go to register a demo account then trade with those egies that you have heard from any courses which you have taken.

    From my experience, you need at least half a year of learning and practicing a demo account until you are able to consistently earn money with the egy that you have learned.

    Even in case you have a one to one mentor, I wager your mentor will still ask you to practice on a demo account using a egy you will love to trade with but the distinction is your mentor will be there to point out the common pitfalls that you may have met if you are trading alone.

    Your mentor can only shorten your learning curve however, you still need to devote time to understand and practice in order to be successful as there's not any magic button that can transform you into a successful trader.

    If there is, everybody will stop their job and spend everything they need on a mentor. You can only be successful only in case you put in the hard work and establish yourself.

  2. #12
    Quote Originally Posted by ;
    And the biggest thing, never let a winner become a loser.
    I respectfully disagree with this generalization. This is dependent on your TF. I exchange based on a daily TF and most frequently I am already 100 pips green then it reverses although not hitting my stop loss and I am 100 pips at the red, but at the end I still have my TP, which can be set at 1000 pips.

    I agree with the emotions part, my main enemy at the start is seeing my green pips evaporates and I second guess my machine, but now I can stomach impacts of that size.

  3. #13
    Quote Originally Posted by ;
    Thanks very much. This shows people are concerned about the problem of the man by reading it word for word. But we'll also love it if you can contribute in assisting new forex traders when they need assistance, as others have already been giving their counsel.
    Hi Kenny

    that I like the chalange that the Fx market gives. I learn something new. But most of alll like to teach what I know. There are a couple systems I use you might want to try. Or design your own.

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