What was the news release?
I just double checked the babypips economic calendar and there doesn’t appear to have been any major news during this trade.
My risk for this trade was just under 2% of the account balance, so I would have to do 50 failed trades to blow the account. Admittedly I would normally only risk 1%, but I don’t see 2% as overly reckless.
You have right mix of technical indicators so with a bit of experience you should gain intuition which parameters (i.e. rolling window) would be a best fit. This is definitely a trials and errors process, no system works perfectly from the very start.
It’s 9:05am in the UK and I’ve just placed an sell order on EUR/USD.
After @chesterjohn mentioning that my position size may have been too big I’ve open a small order for just a lot size of 0.1. This means that with my stop loss I’m only risking 0.12% of my account! So in hindsight I should have probably opened a position of 1 lot which would have risked approx 1.2% of my account. I’ve set a TP for a small profit target of $5.
Lets see how this one plans out.
Account balance $9,840.21
Trade EUR/USD short, volume 0.1
Entry price 1.07124
Stop Loss 1.07251
Take Profit 1.07074
Poop! 
After approximately 30 mins the trade started to look not so good and the market entered a trading range. To mitigate my risk I decided to move my SL to the most recent higher low, which was triggered for a loss of just $4. Not amazing but at the same time not bad, as I’m happy how I managed the trade to decrease my final loss.
New account balance $9510.06
Boom! 
Not long after my loss the market tested the 50 EMA but couldn’t quite breakout and started going bearish again. As I believe that the probability was high that the market would continue in a bearish trend I placed another sell order at around 10:45am with a TP of just $7 which is where the previous lows where bouncing. I hit my TP at approximatly 11:25am.
Trade EUR/USD short, volume 0.2
Entry price 1.07114
Stop Loss 1.07174
Take Profit 1.07079
New account balance $9,843.21
There was US services PMI United States ISM Services PMI
I think that’s what moved your trade based on the description.
Your EURUSD trade is small, I suspect the XAGUSD is different ratio somehow. I know 1 lot of gold is very different on a CFD account
Poop! and then Boom!
So after this small win I made the age old mistake of wanting back into the market and over traded. This led to a losing trade. Yep, I’m an idiot. That trade looked like this:
Trade EUR/USD short, volume 0.2
Entry price 1.06935
Stop Loss 1.0704
Take Profit 1.06858
Total loss after hitting SL = $20.80
New account balance $9,822.41
I decided to then have a look at XGU/USD as that was what I won big on a few days ago. I saw it was still going in the direction I wanted and the Dollar Index was showing the USD was still getting stronger so I opened a short position. Which jumped around a bit and I finally closed just before trading finished for the weekend. This trade was a success, and looked like this:
Trade XAG/USD short, volume 0.1
Entry price 22.978
Stop Loss 23.198
Take Profit 22.873
Total profit after manual close = $25.50
New account balance $9,847.91
Over the weekend I’m going to jump back into the Brooks Trading Course and get some more knowledge on my side. I may look at placing some trades mid/end of next week.
Poop!
This morning I’ve been checking the XAG/USD charts and saw it was on a bearish trend and noticed that there was a potential bull breakout about to happen. However, as I know that breakouts are rare I made the bet that the market would eventually continue to move in a bearish direction. I saw that there was a bullish breakout tested the 50 EMA on the 5M chart and the immediately gave a bear bar. I therefore put on a short trade in the with a stop just above the previous bear high in the hope I could ride the wave down for some profit. Unfortunately that didn’t happen and 14 bars later the bull bars broke the 50 EMA and it moved up and hit my stop loss. I’m now anticipating that the market will continue to move up and potentially test the 240 EMA before it goes back into the bearish trend.
Trade XAG/USD short, volume 0.2
Entry price 22.559
Stop Loss 22.595
Take Profit 22.493
Total loss = -$36.00
New account balance $9,811.86
Non yielding assets have no business going up right now. Down is surely the direction ultimately, but it does look to be at a stubborn price point right now. Maybe a breakout down next week?
i agree with this observation - and let that be a warning-note, because i’m almost always wrong about fundamentals! 
Pauly, glad to see you are enjoying trading and experiencing the highs and lows of it!
I strongly recommend creating a trading diary if you haven’t done so already. Your demo account provider may also provide this service to be able to export data to a spreadsheet.
I would also recommend not changing the amount you risk per trade too much (or at all) as it will make it difficult to evaluate the success of your trades. I would just keep at 1%, it doesn’t really matter as its only demo, but just keep it the same.
@harveybielby I disagree with you saying that
“it doesn’t really matter as its only demo”
It’s always better to treat your demo as if it was a live account, and your saying, albeit meant well, still defeats the very purpose of a demo account.
Keep in mind that this is very much a psycholohical business.
Demo’s don’t count
There is no emotional attachment in a demo
Put 10.000 of your own money and see if you trade the same !!!
XAGUSD recently bounced off a 30 day low of 22.289. It may retest and reverse direction for a nice swing trade or simply reverse without a retest. I would go long especially if it closes above the 20 EMA with momentum. I’m looking at it from the 4H timeframe btw.
EURUSD is presently oversold on the daily, H4, and H1. The 90 day low, 1.06309, is proving to be a solid support. I expect a bullish trend soon. I would go long if the consolidation is broken to the upside.
After my post yesterday the market as expected, reversed and moved down and past my original TP, so I probably should have just had a wider SL on my trade.
I’m going to check the charts again this morning and see what’s happening and will perhaps open another trade.
Just opened the chart and it looks like it ended in a trading range over night and then broke into a bull trend. I think I’m just going to monitor the chart today and see what happens.
If you see a big move, expect a decent sized retracement the next day. There’s lots of good strategies based on this.