I am a small investor from the UK, mostly into managing my own ISA account successfully. Trading has caught my attention during my quest to further my knowledge on financial markets in the past few months.
I have been through hundreds of videos and articles on the web and stumbled across babypips. I intend to go through the forum and education section to help me with my journey.
With the new found knowledge, I have opened a spreadbetting account with IG, I had 2 profitable weeks on a small account trading forex mostly (GBP/USD & AUD/USD).
From my journal, I have made mistakes, currently in the process of learning to avoid making or beware of caveats.
I wish to learn from your experiences and improve myself for the long term.
Agree completely. But don’t be too hard on yourself, even the top 1% of pro traders suffer losers and losing streaks - that’s all part of the game. It took me eight months to iron out most of my mistakes, and make it to a break even position.
You are doing everything right (hopefully) - keep it up and you’ll get there. One tip: keep risk small, 1% is ideal, and ensure you follow your system to the letter for every trade. Repeat: Every trade.
Getting educated is the best way to go ahead. As a matter of fact, why don’t you start demo account trading alongside? I mean you can always test your strategies there to avoid making the mistakes you made earlier.
A lot of new forex traders are taking interest in the forex market and I am sure that the pandemic is one of the major reasons for this flow. But traders must not make the mistake of rushing things and doing anything that comes to their mind. You must analyse the market before you make an investment.