Hi @MrGoat I don’t know your education level when it comes to forex and you’re more than welcome to ignore anything I say here as I myself have not been in the game long.
However, here’s what I’ve found so far:
When you are just starting out it seems to be the best idea to be watching the markets every hour and trying to get a trade or two in to make money. The only problem with that is that you end up with this feeling of urgency to get into profitable trades and you actually end up getting into trades purely on impulse.
The truth seems to be that you need to have a massive stack of patience. Good trades, I mean the really good, calculated and high probability trades will only become apparent to you after extensive research on the how the market moves (what makes it move).
When you are watching the market all day through the different sessions there can be an unreasonable pressure to make a trade. If you combine that with a sloppy trading system without solid rules you will almost deffinetly NOT make money.
Demo for a while, see what works for you and then when you can be consistently profitable on the demo with your chosen system and set of rules move in up to the world of live trading.
This is no quick process, However, if you can grasp this and build your account there is no reason why you won’t make money. It’s just not going to happen in a week.
I blew my first live account a few months ago and that is when the real learning began. If you want, you could try that but there’s no point wasting money.
You’re in the right place, so just slow down and create/master YOUR system. The money will follow.