Not true! A “news” trading strategy is different than a trend following, retracement, long term or short term strategy. One would not have to “reevaluate” their price ranging strategy in order to make profit during high impact news releases. They only have to add/learn a news release strategy (not recommended for newbies; they should stay “OUT” of the market during these times). Different strategy for different market conditions.
Hi FOREX.com
I mostly trade in major currency pairs. I use 1% of my account and 1:10 leverage so in 500$ account i have 3open trades of 0.02 vol and 0.01vol or 5 trades 0.01vol but mostly I use the 0.02 vol in my trade so I use 1% of my account so my is stop loss $5.00 and my take gain $5-$10 sometimes i close it early when seems the market is going to against on me. My strategy is price action, I’m watching for pin bar, inside bar reversal, 2 bar reversal and Engulfing bars.
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Hello GoodPipHunting
Yes you are right 3weeks is not a long time. The year that I am in demo is lose and won but sadly my account in demo was always disappearing like I just don’t log on in one day once I get back its gone. I’ve been make higher my demo account too but its going to disappear and make another new account.
Yes honestly last 5 days ago I over trading cause of losing I want to get it back, I know its my bad and fault.Lesson learned! 4 days ago I’m back on track again for being discipline. I do price action, I’m watching for pin bar, Inside bar reversal, 2 bar reversal and Engulfing Bars in 1 hour time frame. What can you advice on me on best time frame to use? I can sit all day in the market to watch.
Thanks for these details @MDix
One factor to consider is how closely your trades in major pairs could be correlated, especially if they all have USD on one side. While this can work in your favor when you pick the direction of USD correctly, it can equally work against you when you’re on the wrong side of the USD move.
You may have thought you were risking only 1% of your account on each of three distinct trades, when in effect you might have been risking 3% of your account on a single USD trade. Taking three such losses in succession would result in a 9% drawdown in your account.
It seems you were sizing your trades to use as close to 10:1 leverage each time. You could use less. On the trades where you used 0.02vol, if you had used 0.01vol instead, you could have risked twice as many pips and still stay within 1% of your account ($5). It might be worth taking a look at whether that extra breathing room would have made a difference on these trades.
Hello Carnell, as famous man once said “well, there you go again”.
EUR/USD
7/26/17
- 15 week up trend
- Weekly breakout last week, above level .1465 which is a level that has held since Feb 2015
- On Jul 12 Fed Chair Yellen extremely dovish comments
- After a 26 day, daily consolidation, a breakout above .1261, this level has held (within 20 pips or so) since Sept 2016
- We have been in a 60 pip 6 day hourly range, which is basically a consolidation.
- The FED was not going to raise rates.
So this was NOT a news trade, it was a uptrend breakout, with a news component as a catalyst. Also someone who has a $500 account should not be trading multiple pairs or have multiple trades on at one time, they do not have a big enough NUT. One pair, short term, 1-2% risk per trade, this means your stop loss cannot exceed 1-2% of your total account. Hard stops, not discretionary. Low leverage, 500 to 1000 units. Stops and TP based on one hour ATR, maybe 8 period or so on the ATR.
The Ever Opinionated VIPER
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Hello TradeViper,
Your first post…
Then you write…
Not a news trade? Okay.
Well, the best advice that I can give you is this: most people say “lesson learnt” after something bad happens. It’s not just about Forex. When you go out with your friends to celebrate something special, you drink a lot and the day after you start to throw up and you feel awful, the first thing that you say as a reaction is “lesson learnt”. It’s easy to say to reassure again yourself, but discipline is not easy to keep and most traders fail because of it.
So, regardless of time frames and strategies (I use mainly H1 TF just to reply to your question), I would focus on being disciplined and staying disciplined in the long run, not just for 5 days 
Then, after your admission of over-trading, what Forex.com writes is right, you could have risked more than just 1% considering some correlations that you might have missed.
Good luck 
I’m very surprised, when someone’s using 1% position sizing and has lost 10% of the account so quickly, and is asking for advice, to see people suggestion bigger position sizing.
My advice is the opposite: use smaller position sizing with wider stop losses (and verify on demo first with a couple of hundred trades without overall loss) that there’s a real positive expectancy for the method before risking any funds at all).
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Hi Carrnell good morning! Sorry late reply
I’m just using stop loss 1% of my account sometimes didn’t reach the support and resistance.Thanks for a good advice.
Hi laughingCharlie,
Sorry late reply! Good morning! Thats what I am planning to back to demo again cause seems like my knowledge and strategy is not good enough. I did loss and won on that demo before.
Well I’m not drinking so I can’t relate on that but I am really trying hard my best to be discipline just one time I did not discipline. I am using H1 TF too. Thank you for a nice words it helps my understanding well.
Yeah thats a nice adea. I will make a demo account again and learn more. Thanks for responding and giving some advices.
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Do you use fixed Stop Loss ? Using Fixed stop loss is a problem! You have to set your stop loss position according to the market context! You can use buffering system (few more pips in order to your analysis) on Stop Loss and Take Profit trading tool.
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Hi Peter_Slide
Yes I do then its a tight stop loss so when one or two candle stick against on me its going to hit my SL. Now I’m back to my demo account and test more and have a break for a little while in live.
What do you mean “buffering system” I never heard that before?
Hi Charlie, were you replying to me? I can’t see where I advised to risk more 
I give you just one simple TIP…
Identify trend using moving averages in any TF.
Wait for 61.8 % counter trend move (retracement/pullback), then take your position along the trend with sl jist 10-15 pips above/below last swing high/low… use fibo extension 100% or 127.2 % or higher (or trailing sl), its up to you.
by using this method you will win min 70% of your trades…
I am new user I can’t load images. if you wish I can send you through your email…
Hi najibmalik! Thanks for the advice. I will try that in my demo if it works on me. I’m in the good track now I’m trying to be discipline and patient again. I know after a lot of straight losses I’m kinda lost inin the good way, Now I’m saying on my self that I can do it! 
Your stop is too close… The market has to breath and if you are too close to this natural rhythm of the market your stop is hit. Try having a stop of 2 times average true range
Barry
Hi bazzyboots! Yes you are right my stop loss is too tight, Im using 2% now
Guys thank you for all the advices, now I’m kinda slowly back my losses. I’m back in my live 3days ago seems like just need rest for a little while in my live after losses.