made the big error of trading the euro/usd pair yesterday with wide stops!
thought i had a system to handle the news.
whereas in reality i should have sat on my hands!:44:
sent from a very profitable demo trader with 1st small step into the real world
any advice?
what reports to avoid trading etc pls!
If your system uses a tight stop (<< 50pips) then you should be avoiding trading most of the high impact news
(Central Bank rate decisions, GDP, CPI, & Unemployment figures etc) especially on volatile pairs like EURUSD / GBPJPY
for example, unless you really know what you 're doing which I doubt since its your first live account!
Volatility can bring you great profits as well as great losses…
Don’t get discouraged, blowing up account(s) is more common than you think especially in the FX market!
Keep your risk low until you become consistently profitable in a live trading environment (veeery different from demo)
and then you can increase your leverage accordingly!
The longer you stay in the game the higher your chances of success are!
thanks i appreciate your comments!!!
will learn from this