I get it, it can be difficult with all the losing traders. But do not give up. Practice as much you can on different broker’s demo accounts. Try different strategies and be aware about the market conditions at all times. This would surely give you a push up. All the Best, mate!
Try a different trading strategy, perhaps smaller time frames might be the issue here. Hold your position for longer and see if any difference comes about. At any cost stay away from 15, 5 and 1 minute charts.
I agree. That is what we should do when things don’t work as they should. Review your strategy, your trading plan and see what should you modify for better results.
It is helpful but you still need to work on yourself to start cutting big losses. Calmness alone will not help one.
Aliz, would you like to add something on to the practice part?
Yeah, for cutting out losses, we need to have a strong risk management strategy and got to use stop loss.
Hey, you should try taking a course that will teach how to go about your limit orders and will make things clear for you. I think that is the best way to deal with this and learning the basics will be beneficial for you in the future as well. I also took the School of Pipsology course and now I’m successfully trading with some good quality brokers like XM, IG, Fxview, etc. Keep learning and practice your trades as much as you can. Good luck.
I will look into it. Thanks!
Yup! That’s the most important.
However, many traders take the risk management part lightly.
By learning, improving and workong on yourself everyday, you get better in trading and in life
What’s your trading plan?
True, but a good risk management strategy saves you from making losses. So we shouldn’t compromise here at all.
Absolutely!
Practice, learn, be consistent and never give up.
Knowledge, Discipline and Patience.
Start with gaining knowledge about forex with proper discipline and keep patience as it is going to be a long journey.
Never realized when I got good at trading, but I think I kept on backtesting on strategy with demo. Most of the time which is one of the result why I think I got better with trading. Truly I think I still have lots way to go.
By continuously learning, practicing and preparing a good trading plan you can become good at trading also learn about how to reduce losses and risk management.
It is true and also very much important for us to make ea Trading Plan that can make us earn a regular income from the Forex markets.
Taking a break is so key when you hit a wall
When i am doing my trades and i start making a loss i will stop doing my trades for 2 days.