I have put money I can't afford to lose for trading

Beginner Questions
61

@Hunkydory yes that’s exactly me :sweat_smile: I asked the broker and they said over 6 months of inactivity will have fees for you so I am thinking of taking out my money in the upcoming months if I don’t feel confident enough to trade

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@emmaforbes thank you so much for your comment and yes I am working on back testing strategies to find which feels right for me :wink:

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@ponponwei thank you my dear :blush::revolving_hearts:

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Doesn’t have to be locked. You can take it out when you please. But the APY is annually of course.

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65

It’s a great tip, but one of the hardest to succeed in. It takes time to test and make a change, and test again, and make another change, and so on. What worked once won’t necessarily work again or as often. And what once didn’t work, might now work. The market is ever changing, that’s what makes it tough to be successful. And as you gain more knowledge and experience, things you maybe glossed over in the past will make more sense. It’s definitely a journey to success.

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66

Traders should not invest much more money in Forex than the amount he can’t afford. Traders get discouraged highly once they get a huge amount of loss. So, traders should select their time frame of trading as well as their strategy.

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67

rookie move…hope you get out of it

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68

@dudebro good information thank you :star_struck:

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69

@dudebro exactly what I’m going through

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@Kathlyn_Pollich thank you for your comment :star_struck: and yes that’s what I’m currently doing backtesting my strategy

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@jessoprules good news… I’m out of it :sweat_smile:

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Sorry to say it but the first one is a veeery big mistake. How you’ve learned you lesson from this.

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73

The issue of excitement in this industry is extremely important. You need to be able to control yourself and your expenses for work.

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74

@momo3HC good news I have stopped that copy trading and have let go of that money until I get back and work with it, this time only by myself :v:t2: :grinning:

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75

@bukasoper hard lesson for me that I hope sticks to me forever :grinning_face_with_smiling_eyes:

76

good to hear

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77

@jessoprules :cherry_blossom: :smiling_face_with_three_hearts: :pray:t2:

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78

Concentrate on your trading skills rather than making money until you feel you can risk real money. When you do, remember to learn from your mistakes and only utilise money that you are willing to lose fully.

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@Asher_29 Thank you for your comment :star_struck: yes I have currently closed the part that shows balance and other stuff and am only focusing on developing my trading skills :smiley:

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I will be straight to the point. This is a business. Not a playground. Never do this. Be able to afford it first, build skills by lots of practicing and then trade.

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