Hello Everyone,
I started trading 6 months ago with Forex.com demo account. I made good profit and finally decided to give a chance & after 1 week i lost 2000$ even though i followed same strategy during wining streak. To me it appears like broker never want you to win, as soon as my position got liquified the numbers appeared to behave normally. So my Question is can we really make money from trading or is it the only demo account makes you think you are master of market.
Yes, you can make money and I don’t believe that the brokers are out to get us, we lose enough on our own. I have made a relatively large amount in a short time and lost a lot of it through dumb mistakes that were clearly on me. The market is always changing and we have to change with it. A strategy may be sound for the current market but when things change if you are not flexible then you will lose money. Maybe try another broker with a small amount to see if you can make money with them if you think it is your broker.
I think this is not for small people like me. i don’t trust any broker now. :mad:
If $2k is all it takes to make you quit then this is probably not for you. Not everybody can be a trader.
I’ve lost $20k myself… but i don’t blame the broker… as soon as i feel that i can control my emotion and i have my ‘fire’ back… i’ll be back in the game… oh yeah, my mentor had lost $50k during his early days and now he’s a fulltime forex trader n mentor…
yeah, I have heard so many people on here talking about how their broker is unfair but that would mean that there are a lot of big brokers doing bad things and nobody is doing anything about it. This could just be a case of someone trying to talk bad about a broker.
As long as you are not trading the rent money and only using extra money that you can afford to lose then you should always be able to get back in the game at some point after a loss. You seem to have a winning attitude (maybe not a winning system at this point;)) so you just have to do what all winners do, learn from your mistakes and keep trying.
I’m with IGMarkets
I’ve started live about month ago with $400AUD. I’m up to $3k+ already! I’m really not too concerned xD’
ed: Fixed numbers, quoted wrong broker/account
They do not manipulate the qoutes to cause you to loose money. Thats just rediculous.
I do agree with you on that point but this article reminds me why I go with a large Bank that has been around for a long time and has a good reputation. Anyone who refers to Forex as easy doesn’t strike me as someone that I would want to do business with. There are always people who will try to make money by screwing people over and Forex seems to be a magnet for those people.
Easy Forex slapped with a large lawsuit by a former client | Forex Magnates
Sure, people get fall for forex-themed scams all the time, but this guy lost his money, and now he’s blaming it on his broker. Besides, If he was using proper risk management, $2,000 would be a relatively small part of his account. He will just keep loosing money until he fixes his real problem.
Totally agree with you on all points. I am sure that guy is long gone now and it is probably better for everyone that way. I just liked that article especially because I was talking to my wife about a month ago how I would never do business with a broker with a name like “Easy Forex”. Just asking for trouble with that one.