So you lost something, right? It would be great if members here announce the amount they lost or % of maximum drawdown to equity. Then we can make conclusions about average attitude to risk of forums members here. It would be useful for other rookie traders.
I keep losing, mostly because I deposit small amounts and try to trade with a high risk to make maximum profits quickly, with high leverage, and also it seems that as soon as I put a trade, the price seems to go in the opposite direction as if on purpose. I don’t know how many times I lost. But I refuse to give up.
Maybe you should try a different approach.
Or much higher time frame?
I considered higher timeframes, but it does not fit with my impatient nature.
Well there you go!
Yoda, you must meet and learn. Nature, patient it is.
Continue what you are doing, if you must, but I would suggest putting on one trade of .01 lots based on the daily charts and let it ride. Give it some time to grow.
Agreed. If battling with an impatient nature, multiply the number of (small!) long-term trades you are running. With a little luck something will be closing on several days of the week and its always nice to actually see progress at the bottom line.
I don’t see the usefulness of that at all, but you’re welcome to post whatever results you have experienced.
Losses are inevitable in forex trading, and its a common thing to incur losses and profits in any kind of business whatsoever. I have lost and made profits every now and then, but I still press on and hope to improve every single day. After all, patience and determination are the keys to success in this market
Let’s just say that as a newbie I lost more than I could afford to lose.
Lost over £1M - but that means nothing without context, as I’ve made a lot more than I’ve lost, eventually.
Anyone starting out, will no doubt lose and lose, then lose less and less, over time your wins will negate all your previous loses.
Well, the end result is what matters after all.
If you understand that why do you repeat mistakes? Remember that volatility doesn’t forgive such mistakes.
The beginner's guide to FX trading