Hey guys Please Help

I’m a newbie here but I’ve been trading the Forex market for two years now but I just can’t stop blowing accounts. I’m tired, I need help because I love trading Forex and I just can’t stop.

Have u found whats make u blow ur account?

Morning are you familiar with risk management and spread method?

Not really

Ja, sometimes it’s multiple positions and on other cases its the entries.

Blowing accounts normally suggests taking on too much risk.

Are you using stop-losses? How do you find the level to set them at?
What percentage of your capital do you risk per trade?

I use previous highs/lows

That’s usually helpful but you need to make sure you’re not selecting highs/lows too close to current price - some people use ATR to make sure their stop is not too tight - for example, 2 x ATR20 is a useful measure for the minimum entry to stop distance.

What about % capital risked per trade?

Do you journal your trades at all? As a trader, its important to journal and study your losses, as well as your wins.

1 Like

I think that question just gave me the answer to artawidi’s question. I’ll have 5 trades on a 50$ account and in most cases I always have gold and pound on my trades. So I guess I’m currently not fit to trade a live account because I’ve lost so much that I’m emotionally crippled. Anger and Greed have me by the …

1 Like

Not really

Over leveraging?

trust me, start to journal your trades. Write down every trade you take, and record whether you win or lose the trade. And once you start to study your losses, you’ll see your trading start to improve

1 Like

Ja too much

Ja thanks ner

try to focus 1 pair only, i suggest XAUUSD,
Dont overleverage,
Try scaling in too,

1 Like

Good advice