Building a Newbie Community

So, newbie here, with just about 2 months of practice. Here’s my journey.

Starting trading on a Demo Account, blew my account. Thought to myself, that can’t be because of ME, it must be because it’s not REAL money. It must be because I wasn’t emotionally attached. Deposit money, blew account. “Lesson learned, idiot.”

All the books about trading say that once you lose money, you must go draw back your account size and position size. So I deposited $500, and I saw that dwindling. “Lesson learned, idiot.”

So my plan is to trade with a $5 account with 1 to 2% position sizing (10/20 cents) till I can become profitable with that $5. I am willing to blow as many $5 accounts until THE LESSON IS LEARNED.

Now, I want to build a community, I am the only one out of my friend group who believes in this forex system (most of my friends are on the get rich quick scheme on $GME/$NOK or into stocks), and I want to build a like-minded community. People who are committed for the long run and simply want to share ideas, NOT signals. People who are independently working, but communicating at the same time. Updates on progress, mistakes, new systems, back-testing results, all that “boring” ■■■■. Just as our severely over-priced undergraduate programs do, I want to build a cohort for those who are about to take Forex 101, and eventually graduate this university.

I’m in it for the long run, I am ready for the 1-2 year journey and I have merely taken the first steps. Just wanted to see if anyone else wants to climb Everest with me, incase my oxygen runs out at any point during my journey.

If you’re interested in such a community, a place where strangers awkwardly start conversing about their journey and this sort of “guild”, private message me!

Please only reply if you’re in it for the long run and committed to getting better!

Thanks for sharing your trading experience. I have learned lot from you.

Basically what you’re saying is what BabyPips does… :slight_smile:

1 Like

Haha very true! I meant more of a small cohort!

Thank you very much for the information, I am sure it will help me

Maybe I’m lucky, however I traded a demo account for 8 months - as if it was a live account - which reined in my tendency to overtrade. It was an enlightening process to finally reach a break-even position by gradually learning from my mistakes.

I used that mindset to open up a live account with a capital of $1,000, leverage of 1:100, and Ichimoku strategy exactly as I had set it up on the demo account, which made the transition psychology simple.

Currently, I’m still in break-even mode, with more losing trades than I would like. Therefore, similar to yourself, I’m lowering my lot size, keeping a <1% risk per trade with a view to obtain at least a 1:1.5 reward.

While I respect and admire your new-found discipline and patience trading cents, IMO your mindset has not yet accepted that - because trading cents and blowing $5 is also immaterial, psychologically.

I hope I’m wrong.

Best of luck.

BTW - markets are acting every which way in today’s political and covid 19 environment, with more attention being paid to media reports, that affects market sentiment and causes many retracements.

Interesting times.