Bro I’ve been trading seriously for 3 months and I’ve lost 2k. But I know I’m gonna be profitable because it’s all about mentality. Turns out, more than half the trades I “lost” I closed because I thought they were gonna go the other way. They didn’t.
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To follow a trading signal means you trust them so win or loose you should accept it. Before you choose any trade signal you should understand the strategy been applied and you should be able to use it independent of the signal provider, but personally I don’t trust them.
There is a way to always win in trading, majority of trader don’t apply it or simply ignore it, RISK MANAGEMENT. Read up on the fundamental, learn new strategies, get a mentor, find your edge in the market, remember it will probably get worse before it gets better so don’t lose your s**t yet
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Loved it! 
You probably should just quit. No stops, taking trades from someone else. Either master the markets and your own emotions 1st for 6 months or a coupla of years or quit
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If u dont know how to manage your risk correctly, you shouldnt be trading, losing that money is all on you.
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The video link doesn’t work for me in Canada…Can you provide another link or more detail so I can search it?
I am a newbie, so take what I say with a grain of salt.
It took me a few months to do (and absorb) the baby pips course, and I have a background in finance. I had about 150 pages of notes at the end of it. I then spent a month or so going through those notes and making a summary. I then backtested my trading system (using daily charts, going back to 2012) which took a couple of weeks. Once I was comfortable with those results, I started demo trading which was in March this year (15 weeks). My balance has gone up 116% in that time, but I still don’t feel ready to go live. I am still learning lessons!
One thing I notice from the screen shot of your trades, was that you don’t have a stop loss. Some people trade without them, but it might be something to look into (babypips course will cover this). I also notice that your position size is huge! You need to look at risk management to make sure you aren’t risking too much for each trade (most traders don’t risk more than 1% - that is £17!)
My suggestion is complete the course, understand the course and then demo trade until you feel comfortable with your trading system/s. Also, don’t trade with money you can’t afford to lose. Good luck!
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I can see you have TP and no SL.
Please please… before entering a choose the amount of money that you wish to loose
It would have been understandable if you had SL and lacked TP because we might assume you want to trail your trade
Don’t repeat next time buddy
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Honestly don’t give up, we have all had good and bad days trading. I would sit back and analyse, what can you do differently to try and change the out come of that trade. I personally don’t like signals as I like todo my own work to study charts and do my home work based on a positions past movement. Honestly when I first started trading, I lost £1,000 and this was due to not playing out my demo period of trading everyone wants to trade real currency, as baby pips says in your training… demo trade your way to success. Try not to get angry if a trade goes wrong, just study and change you game play.DONT GIVE UP! It’s a long hard journey trading and it takes years to master but believe me it’s totally worth it. 
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I always work on a 5% capital risk and 5% gain. So when I very first started I made a chart with £1000 at top and £1,000,000 at bottom, along my chart I work out amount of max Negative I can go based on my capital, max gain.
For example:-
£1,000/-5%=-£50/+5%=+£50/Vol=0.02
£2,000 /-5%=-£100/+5%=+£100/Vol=0.04
(Also work out your SL so on 0.04 you rough pip value is 0.36, so if I had 9 positions open I would set my SL @ -40 as this work out a loss of -£14.40 over 9 trades is £129.60, yea it’s a little over your £100 max loss but chances of all 9 positions hitting stop loss are unlikely.
For example with you capital size your lot should have been 0.04, also remember that 5% loss is shared between all your positions.
Hope this helps
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HEllo im new here comin for me robinhood trying to learn every night. WHat broker would you recvommend to get started.? And forums or videos u suggest? Thanks in advance
IC Markets great spreads, use along side meta trader 5. As I’ve stated in previous comments my Friend spend at least 6/12 months demo trading, you have to factor in emotion and when your demo trading as you learn emotion isn’t in play. Once you move to real currency then you have emotion. If you have you trading plan with you risk management in place it’s a little better as you can relax to a certain extent. Honestly baby pips is amazing go through the course the whole lot twice if you need to the study each section on you tube whilst putting your training to practise.
I once lost 5000 dollars because locusts practically ravaged my crops bro. it was devastating, but i learned to cope with it with the help of the people you love. so, it is frustrating to lose money but being destructive doesn’t help you bro. anyways, i hope you will overcome this
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Hi bro.
Sorry I only just saw your post, would have replied earlier.
Firstly, beginner traders almost ALWAYS make losses in their first trades. Like in driving. Learners will one day definitely scratch the car. Key point is to take actions that will minimize the risk of crystallizing that eventuality.
In your own case, the number one problem I’ve sighted from your screenshot is the margin ratio. Baffled me how a floating loss of -187.38 would give a free margin of 19.99 on a 1,707.37 account. Until I saw your margin ratio.
Take a break from trading for now (for at least 3 months, I’d recommend 5 in fact) and use the period to go through babypips school from the very beginning.
I got introduced to FX in Aug '17 through a “snake-oil peddler” who marketed and sold a pre-purchased EA to novice me at cut-throat rate. I was impressed with what I saw (at the time). Profit of $20 a day on a $750 account. I did the math and with time got to open 8 different trading accounts from profits made and some deposits and had EA installed on all of them. Things went smooth for a while until BOOM on 3rd Jan 2018, everything was wiped out. I’d been hooked though, so I funded the accounts again. I don’t think they lasted one week before being wiped out again. I quit for about 3 months and on a hunch, decided to start trading manually. I also enrolled in babypips school around that period. I was a bit successful for about a month (made around $500 profit on an $800 account in 2 weeks) though in hindsight, I think i was just shooting in the dark with the rudimentary knowledge I’d gained from the early stages of the school. I eventually burned the account again. Long and short of my experience is that from that Aug '17 to Q3 2018, I made some profits along the way, but made a cumulative loss of about $4,000. At the end of the day I was neck-deep in debt (because most of the funds were borrowed - another BAD idea), had strained relationships with everyone including my mom who eventually passed away in June '19 due to ill health and was depressed. Like suicidal depressed. Only the thought of what’ll happen to my kids was what stopped me from offing myself.
I uninstalled the trading app and MT4 from my phone and avoided all news relating to FX. So from June '19 to Mar '20. I never did any trading. But I researched heavily during the period and read up to about 10 pdf books on fundamental analysis, various TA tools especially on Bollinger bands, Ichimoku Kinko Hyo-San, RSI and their effects in trend reversals.
Mid March this year I decided to try again. It’s very difficult to quit FX, if you’ve made ridiculous profits in the past. LOL. Started with $1,000, made around $700 and burnt the account again. My learning point? Greed! With a capital G. I was using lot sizes and setting up too many trades that, yes they’d give me quick profits if things went my way, but if things headed south quickly, they’d wipe my account again. So I quit that March. On June 1, 2020, having funded the account again to $1,000 I started again tentatively. First day, I lost about $8. Happened because I used a stop-loss which got triggered. 2nd June, the loss was $70 on CADJPY. See screenshot (period is from June 1 to 26). Now on the weekend before I started trading, I decided to do a bit of digging online to get traders who gave good trading tips. I came across a few, studied their past predictions and compared them with the market outcome in order to measure their prediction skills. I settled with one. It was his tips that I traded with on Monday and Tuesday, that gave me those losses. Tuesday night, I stumbled upon another guy based in the UAE. From Wednesday June 3rd, I began to use his tips only. I don’t follow the recommendations to the letter. After he’s given a strategy with entry points, SL and profit point, I’d go and check the economic calendar for that particular currency pair for events of the next 2 days, review the chart on ALL timeframes using Bollinger bands, RSI and stochastic oscillator and determine my entry points and profit point. I’ve been using buy or sell limit. Never by current market price or sell or buy-stop and I stopped using SL because I made sure that I’d checked the chart for the last highest or lowest price ever in any timeframe and used a small enough lot size such that even if the price, by any miracle should go against me to that extreme point, the floating loss would never exhaust my free margin. That’s what I’ve been doing since Wednesday 3rd June 2020 and I’ve not made a single loss since then to date. The one loss I had was on June 22. I got up to pee in the night, there was no light and I was using the phone light to see. I always trade on my phone and I had been studying XAUUSD charts before I went to pee. I thought and I’d screen-locked the phone. While peeing, I heard this “kpo” notification sound the phone makes whenever I place a trade. In horror I looked at my phone screen and saw that my thumb had inadvertently placed buy XAUUSD, 0.25 lot size, and gold was falling at the time! Without thinking or anything, I closed the trade. Brethren, that unholy pee of less than 20 seconds eventually cost me $40! In my country, the broker conversion rate is $1 to NGN433. NGN17,320! Because I was peeing and failed to lock my phone. I’ll make sure my grandchildren get to hear the story.
I didn’t get to fret about it much though as my daily profits had gradually risen to multiples of that amount. I was mildly shocked to receive a call from my broker’s account officer the following week. Dude called to say he wanted to know how I was doing, how trades were going on, anything special I was doing, bla bla bla… I know they’d gotten surprised at how how my trading pattern had suddenly changed to profits only. All the years I’d been burning my account and funding their vacation trips with my hard-earned money, I never got a single ring from them.
I’d placed some sell on Gold at 1732.0, 1736.0 and again at 1740. But for some weird reasons the metal kept pumping. When I saw that the end did not seem to be in sight, I had to counter my sell trades with equal buy lot sizes at 1764.0 and 1769.0. So for now, my free margin no longer decreases and the buys are in profit. I also had to make additional deposits to shore up the free margin. I’ve been made to understand that a strong resistance awaits at 1800, 1805 - 1810 (I’d like the opinion of other traders on this) and I’ll make my decision at that point. The gold trades are my headache at the moment, but hopefully there’ll be a price reversal and things will turn out just fine.
My final advise to you is this:
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Take a break from trading for now.
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Restart your babypips school and commit time and effort to understand the processes of trading. There’s never a thing as having learned enough. Just recently I got to know about the Committee of Traders COT, and the effect of their actions on long-term price movements and reversal. And when I dug further I found out that it was even treated in the babypips school (I think at Undergraduate level). There’s no limit to what we can learn and there are so many tools and resources out there to assist with our decision making process. Keep your mind open for critical news releases in economic calendars, learn about TA tools and how to use them. Like I said, I use only Bollinger bands, RSI and stochastic oscillators, because I prefer trading trend reversals. Everyone will have his/her own unique strategy.
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In the course of your study, do not trade at all. Not even demo trading to practise what you’ve learnt. You’d be tempted to go live. Believe me.
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Quit the use of EAs (personal opinion). When you’re adequately prepared to trade, it’d be better and more profitable for you to be the one making the decisions on lot sizes, entry and profit points.
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Seek out very good traders who give tips that you can back test to guage their accuracy. I got to discover that even the UAE guy I subscribed to from day 3, isn’t even as good as I had imagined. Get their tips, study and analyze them, then enter at a point less riskier than their recommendation. You don’t have to trade all their tips. I don’t use a stop loss, but I make sure that with the trading lot size, if the price should move against me to even exceed the all-time high, my free margin never goes below 50% of my account balance.
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Trading never works with emotion. Shun greed and the temptation to use lot sizes that may turn out to be dangerous to your capital if the trade should go against you. Blind rage, seething rage, paralysis, euphoria at hitting profits, all those stuff will have to go out the window if you intend to succeed with FX trading. If you are a choleric, then you must eat your humble pie and adorn the garb of a Mel-Phleg. Dr Tim LaHaye (“Why you act the way you do”) can explain better. If your trades should move against you, adopt a calm disposition, study the charts and news in order to understand why they happened, then outline a strategy to safeguard your capital. I’m not that much of a good chess player, but I have been told that in the game, the best line of defence, IS TO ATTACK. I stand to be corrected. Your topmost priority is to secure your capital. Whenever you are adequately trained, you’d make lesser bad trades and if they do happen, you’d be able to define strategies to make the best out of the situation.
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Lastly, stop using this your trading account. Whenever you’re ready to trade again, use an account with trading margin not exceeding 1:500. That way, there’d be a lesser chance of your free margin being wiped out, should the trade move against you.
I looked at your currency pair and saw that there’s the chance of GBPNZD bouncing up at around
1.9152. If your margin ratio had been lower, you’d have had ample funds to place a counter sell trade at even the price in your screenshot. Your free margin would lock (no further reduction) and you’d have floating profits from the sell trade that you could close when the price starts retracing. So you see, as a learner I could see the opportunity in your situation. LOL.
Do as I’ve said and you’ll probably turn out fine.
Take care bro.
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You’re never going to succeed in the long run if you’re taking drugs. They’ll mess up your analytical ability and power of judgement.
Happy to be of service 
Should be recommended watching for anyone thinking about paying a “tipster” in any field - methinks.
When he did the “10 heads in a row” - I thought we should show it to those people thinking "AhA - MARTINGALE System"
Also – one wonders how many of the “you Tube Gurus” take endless videos of themselves “Trading” until one of them acts as “predicted” ?
Anyhow Glad you enjoyed it !
Sadly I know your “Child Emperor” - Trudeau doesn’t trust you - his “subjects” to make grown up decisions for yourselves - about trading - so I suppose he deems it “Sacriligious” to let you watch anything Gambling related.
However - If you search you tube for ___ Derren Brown - The System
For me it brings up 2 full length vids and another one divided into 5 parts - hope this helps .
Just know you are not alone in losing accounts/lots of money by following signal providers. If you’ve signed up to a broker through their affiliate link, this is exactly what they want you to do. They want you to keep feeding more money in and trading more as they get a payment for each trade you make. Forex is a constant lesson. Every mistake you make is a step forward. But you must learn your own way to trade as you won’t ever be satisfied by trying to trust other people, especially when things go wrong. Good luck
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You entered the same trade twice… You are exposing your defense too much!
Which broker do you use?
Couple of things:
- Did you realise that you were trading against the trend?
- If you are getting this emotional about the trade, you should spend some time understanding trading psychology
Firstly, trading against the trend is obviously going to have a lower probability of success. It is totally avoidable. Have a look at Baby Pips/Market Milk - it has all you need regarding this.
Secondly, I can recommend Mark Douglas’s ‘Trading in the Zone’ book to give you an understanding of trading psychology. In that, you’ll come to realise that once you have placed the trade, you should just forget it - move on, write off the risk and only engage in trade management in accordance with your rules.
And here lies the problem here. I’m guessing that you haven’t developed your own rules and am happy trading off others suggestions. Might be worth you taking ownership of your own success and invest some time in education and research yourself. Again, Baby Pips is a good source here - why not plough through the School of Pipsology.
There is a quote that is appropriate here. “You get what you work for, not what you wish for” (Anon.). Maybe it is time to put some effort into this rather than paying someone else?
Good luck.
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