Hey peeps!
So I started forex trading last friday, started with some copy trading, started out very well, then lost biiiig (for my situation) the last few days. Got sad, did some research, found “thetradinggeek” on insta and he recommended this page. So here I am, down to my last $100 trying to learn about forex trading before I get back in there. I learned from my mistake, will not just blindly copy signals anymore …
But yeah, even though my first week was horrible, thewhole topic seems incredibly interesting and I’m very keen to learn enough about forex trading, daytrading and volume trading in general to evolve this from a side hustle to my main income (I know, big dreams for someone who started out so badly).
Let’s hope for the best! ![:slight_smile: :slight_smile:](https://f.bpcdn.co/images/emoji/twitter/slight_smile.png?v=9)
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Be prepared to lose. 90%+ fail long term. Hardest market in the world to succeed in. But once you learn it, or skill/intelligence, it is awesome.
Start with $100. Trade $1 micros. Take it slow.
IMO, and it’s only my opinion, that trading a small $100 account is the hardest challenge any new trader faces.
Why? Because like yourself, you’re looking for a fast result and playing around with the odd few dollars doesn’t rock your boat. Without discipline and patience, you will be tempted to revenge trade, overtrade, and gamble which will be your downfall.
There is no short cut to eventual success, that’s a given. To take FX trading seriously, prepare for months, even years of hard work learning how to trade proficiently. Preserve your capital at all times, as without money you cannot trade.
Best of luck.
Yeah will definitely take it much slower now ^^ I started with 400 bucks, made 300 in the first 3 days then lost 600 in the last 2. Really thought the Yen was weaker ![:sweat_smile: :sweat_smile:](https://f.bpcdn.co/images/emoji/twitter/sweat_smile.png?v=9)
Thank you! Yeah revenge trading is what got my into this mess, I almost double my deposit in the first 3 days, but then lost like 100 and tried to make it up by risking more money in following trades thinking “they were just wrong about this trade, no way this would happen again”.
But yeah thanks for the idea, I’ll be extra careful now ![:slight_smile: :slight_smile:](https://f.bpcdn.co/images/emoji/twitter/slight_smile.png?v=9)
Read the books How to Make a Living Trading by Courtney Smith
the book Naked Forex, the Mark Douglas Trading in the Zone books.
The forex subreddit has a book summary.
I also have mentioned a bigger list on here before of general finance and investing books that everyone should read.
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