It’s all about managing and controlling emotions. Discipline and patience with FX currency pairs minimal lot sizes 0.1 - 0.2 with a 200:1 leverage for a wider margin.
Money makes money. IMO, to make a small consistent profit, it’s necessary to have an account size of at least $500 to be able to breathe when faced with consecutive losing trades, as does every trader on the planet.
For financial freedom target an account size of $100,000. There is no short cut to riches.
Your lot sizes are not negligeable. Same for the leverage. Also, your strategy seems not so bad.
In fact I will even say at least $1000 as a minimum for an account size.
Also, you know that you won’t consistently make money with this secondary account of about $60 : A good strategy could be to put weekly on this secondary account your profit from your primarly account which size I believe is about $1000. This is the (‘technical’/cash flow management) strategy I will be using when I will restart live trading 
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Yes, it is very important to compound accounts for growth. I set aside 10% of my monthly income for my primary account which is my main aim right now. Thanks for raising that strategic example for others reading.
I’m aiming to add a portion to my secondary account from January, so I can focus on FX currency pairs, as well as continuing to trade the DAX Frankfurt and London breakouts.
And best of luck with your $1,000 account, which is a very sensible amount. If you need any tips on how to manage emotional control, just message me.
My main emotion issues with my last trades were due to my environments. Also, I believe I’m not too bad in term of emotion management.
If I’m not wrong in another topic you stated that Fridays use to be one of the a day you make more money : from my side, trading Forex on Fridays is not for me…
I trade Asian FX markets on Fridays, close before London opens.
In this post, on Saturday 20th Fenruary 2021, I planned to try trading on Fridays…and…the next Friday, 26th February 2021 I tried but blown my account…during the Asian session trading USDJPY…but the main cause of this last issue (as demonstrated in my journal) was coming from my broker (on Friday, things goes fast).
However, I still totally agree with your statement below.
What type of risk to reward trades do you take or about how many pips do you aim for
I don’t aim for anything except whether a trade meets all my criteria at the time I start in the morning. That includes a three time frame chart set-up all in synch - mostly Daily, 4hr and 1 hr.
Sometimes, if I’m trading a trend breakout, I’ll place a pending BUY or SELL STOP with a S/L that provides breathing space. And for those trades that follow my direction I use a trailing S/L with a objective to reach the next resistance zone. Hopefully, if it breaks through that, I’ll move the S/L up to breakeven and let the trade run to the next resistance zone, upping the S/L if it continues - and so on.
It only needs one profitable trending trade to cover the losses that would invariably occur. Which means controlling the fear of not cashing in a profit at breakeven level.
Today, many people struggle with anxiety and depression
The problem will keep getting bigger. I wonder how to use it. Are there any companies that focus their products and services around mental problems? I know there are big pharmaceutical companies, but I am looking for one that is oriented exclusively to this aspect. This can be a good investment idea.
Trust me ,youll be good.all you need is just a losing streak.in my case,after 37 losing in a row,i got numb of it
Every beginning trader has a feeling of anxiety until he understands that there is nothing to do in this business without risks. Trading is directly connected with risks and it should be understood as early as possible.
It is normal. nevertheless, try to trade off your emotions.
I believe Fitness or trying at home to get 6 packs abs could help.
I’ve had a problem with this recently. In my strategy, there could be up to 2 or 3 false signals before catching a swing. I was wrong 2 times, then I got scared. I ignored the third signal, and the pairs started trending. I jumped in late.
I’m experiencing fear with following thru on my strategy sometimes. I try to keep in mind that I just have to follow my strategy and the strategy will take care of the rest.
Good idea. Google it.
Yes, in principle, I agree. Todays markets makes it difficult for every retail trader, as the effects of Covid on major currencies is to increase surges of volatility - usually by media reporting affecting market sentiment.
As such, signals while also lagging would also suffer from excess false reversals. It is important to understand that emotions won’t ever go away, it’s being able to recognise them, then manage them that’s important. Your solution is spot on - it’s focusing on following process for every identified trade.
That is your edge.
BTW you could try 4 EMAs - 8,22,44, 200 where a Daily buying opportunity on the 2-4 Hr charts uses the 8 crossing above the 22 both below the candles, as well as the 44 and 200 being below the candles as trend confirmation. The opposite for a selling opportunity.
The EMAs are taken from the Ichimoku 6 day parameters, amended for a 5 day trading week.
Keep plugging on. You could lower your lot size in the meantime until regaining confidence.
Cheers.
Yup. That makes sense. But, for now, I’m mostly on the sidelines. I recently opened about two trades or so. GBP/ILS long is one of them. We’ll see how that goes.
There’s a lot of D1 consolidation at the moment. So, I’m not adding to any positions in case of reversals. Can’t force the trade. Just gotta wait.
I had trouble during a round of consolidation not long ago. This time, I’m not sweating it. No shaky hands, of FMO.
What makes you the most anxious? Is it the unknown, or is it losing money or something else. I think you need to really identify the source of the anxiety and fear.
If it’s blowing your account balance, then trade an amount you’re willing to lose. An amount that can go to zero and you won’t be in a worse-off place.
Is it the fact that you could lose a trade, regardless of the amount? Every trader loses. You will have losing trades. You may even have losing streaks. You must become comfortable with that reality.
What else causes you anxiety?
Reduce your trading capital and start smaller if you’re struggling with the idea of losing money.
Feeling anxiety, fearfulness is very common and also normal when you trade with a live account. But these negative emotions can affect your trading decisions adversely. Try to meditate and keep your mind calm and stable. Make decisions logically rather than emotionally.