Need help !!!

[Asterisk973]

Hi All,

I am a newbie in FX world, I have gone through your pipsology school and seen videos of Steve Nison, Peter Bain and in youtube. I open a demo account in ytfx.com and downloaded their mt4 platform. Now when
ever I am trading (almost any currency) as soon as I enter a trade, profit/pips goes down to -30 or -40 sometimes -100, Can anyone explain it to me why is that ? I am being discouraged by that and I really want
to learn forex....Please provide your invaluable advise.

thanks,

Asterisk973

[Master Tang]

Knowing nothing about why you are entering trades makes just about any opinion worthless.

However, trading dyslexia is common when you first start. You identify a buy, and enter a trade, only to see price fall.

Most of the time, this stems from entering a short at support, and a long at resistance. After all, price has moved up nicely, what's to stop it from continuing?

[Asterisk973]

Thanks for your reply. did you mean i am doing opposite of instead of going long at support and short at resistance.

[Master Tang]

Thanks for your reply. did you mean i am doing opposite of instead of going long at support and short at resistance.

I'm just guessing at your problem based on the results of your trade. But since I have no idea what your trade setup is, that was my first thought based on your description of what happens after your entries.

[drick008]

Asterisk973[/QUOTE]
Now whenever I am trading (almost any currency) as soon as I enter a trade, profit/pips goes down to -30 or -40 sometimes -100, Can anyone explain it to me why is that ? I am being discouraged by that and I really want
to learn forex....Please provide your invaluable advise.

I believe this is the spread your talking about:
Let's say you have place a trade with 3 pips spread and you have a regular account, when you place a trade of 1 regular lot (1 pip = 10) then you will see right away -30. The -100 may happen when spreads got big during news.
The broker makes money on the spreads. Learn what a micro, mini and regular lots, it will help you with money management.

[nhasanbd]

Please keep in mind that we always start with loss in Forex Trading!! And it is the 'Spread'. Try to learn more about it and you will understand the reason very soon.