I’m new to forex, I’ve been using a demo with some huge mistakes.
Welcome check out the education section
Well, you should be learning how not to repeat those mistakes. Make notes of what went wrong, why it happened, and what not to do next time.
Usually the culprits are overtrading, revenge trading and gambling. Keep risk exposure to 1% per trade with a daily maximum of 5%, and keep to it. Your aim is to preserve your capital even if it’s a demo account.
Best of luck.
Welcome to the community, @marks55. Good thing you were trading on a demo account. Imagine if you were trading live. At least you haven’t lost any real money while you’re still learning. Just be consistent and keep practicing your trades. Good luck on your fx trading journey.
Sound advice, thank you
I know, it would of been a considerable amount of loss too, I had a really good profit on a trade and then got carried away.
Thanks for your advice
How much education did you do before opening a demo account? While nothing bad can come of using a demo account it will be totally aimless without some context that education will give you.
I was using an app called Trading Game, which I realise isn’t really educational but it sort of got me used to how to trade, or so I thought.
Thankfully its demo then, keep learning until you get a solid strategy together.