Can anyone explain to me why I cannot seem to make more than like 3-4 dollars per tra

Trading Discussion Risk Management Practices
#1

Can someone please explain to me why I cannot make more than some change in my trades?
I dont understand this at all. I have had people explain to me leverage time and time again and I understand what leverage is but how is my 50:1 leverage affecting my trades.
I am winning trades and making such little profits thats it would barely be worth trading even though I am using nearly the maximum amount I can and often run out of funds to trade with and have to wait until I hit my takes to set up new trades .When I try to buy 10000 units twice i am told I have insufficient funds. But when I hit my take on a trade of 15000 units i make like 1.90 . I have around a little more than 1k available in my account. Its a practice account. Im frustrated as heck with this part of it. I can close trades and often dont take trades but what I think is going to happens happens but whats the point with profits this size.

To say that these concepts are frustrating me is an understatement.

Log from 2-8-2016.jpg700×317 34.2 KB

#2

Hey Panda, cant zoom read the picture. Even if I save it.

#3

Also, Dont use all your units.

Take your total units, divide by 10, and use that number. Then, you can add 5 more trades if you wanted to at that same size.

Not sure what your straedgy is, but evidently your new to Forex, hit Baby Pips school.

Are you scalping for half a pip?

At this point, its best to only use 10% of total units available, have definite entry and exits. Work off the 4 hour Timeframe.

Dont use market orders, ( Instant trade ) use Limits/stops within Support and Resistance off the 4H chart.

What that means, if your looking for a short, you should be using sell Limits, meaning the price must run up INTO your order, with anticipation it falls to your target Take Profits, and vis versa.

If you feel you need to jump a trade instantly, NEVER market order, at least set a sell stop UNDER last candle, just NEVER EVER EVER use Market orders as a strategy to enter a trade.

Good luck

#4

Panda, if you like to discuss the details of your last trades (maybe 5 to 10 trades) we can take a better analysis of where is the problem. How many pips are your risking (stop loss distance from entry point) how many pips did you take when you closed the trade, were them limit or manual closes, etc…