Hello everyone my name is Sim I’m from South Africa and I’ve been practicing FOREX TRADING for like 2 years now and it’s been hard hey! So I just wish I could learn something from here …at first I was dreaming and thinking I’ll be making some thousands by now but it didn’t happened and I blew 3 x $100 Accounts because that’s all I can afford …so I now I just only want to make at least $100 a month will be good for me …but hey I’ve been hitting stop losses most if the time … sometimes I will feel like I’m waiting my time but hey I’m still here so I’m still trying to figure out how to grow my $100 Account
Do not trade live until you have proven yourself consistently profitable, especially if your funds are very limited. That is my advice. Two years is a good amount of time for practice, but if you are still not seeing positive results by now, then you may need to ask yourself why. For example, are you trying to force a losing strategy to work, or are you jumping around from strategy to strategy too much or maybe you are not sticking to your trading plan etc.? If you are hitting stop losses most of the time, then look at what you can change to fix that. You are only wasting your time if you are not learning in the process.
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^^On top of that I’d ask what are your risk per trade because you have such a small window if the market goes against you and I’m also guessing your having tighter stop losses as well with limited capital. But the bigger thing is to examine why you’re not able to have winning trades? Is it possibly due to your strategy? Do you possible enter the trade during the end of momentum/reversal? It’s a multitude of things but until you actually figure out where you’re going wrong you truly won’t be able to progress to the next step. If I was you I’d try to find out what were the common denominators when you blew up these 3 accounts (over-leveraging, bad trades, and etc). Then and only then can you start to remedy this issue. The fact you still have persistence is beautiful and will go a long way in what you’re trying to accomplish. Just look at what you’re doing from a different perspective and a different lens and that can help you identify key issues.
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