Think Asher29 meant practice on demo first without risking capital
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right now I’m practicing to build my skillsI can not agree more. It is like digging one’s own grave.
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Perfect; keep digging it! I hope, your trading strategy would be more profitable in near future!
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I like this perspective. Problem is, most people don’t know what it means to run a business. They don’t understand what it means to operate just by yourself. They go to work, are basically told what to do, and they do it. Many, very successfully.
But starting this journey alone, with minimal background and education (ongoing or existing), it completely explains why 70-90% don’t succeed. It’s easy to get in, it’s extreme hard to remain and be profitable, as in the real world of running a business.
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work hard ,invest in stock ,stay away from forex,youll in good hand
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To state the obvious, before risking more funds, you must be consistently successful with a tiny account. When I indicated that larger accounts present distinct psychological obstacles, I meant that when you’re earning thousands of dollars a day and losing tens of thousands, it might be difficult for individuals.
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the first rule of trading: NEVER use your last money.
it puts too much stress on you hence you cannot be cold-minded
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Money is lost in forex trading, as a rule, when high risks are taken in order to gain high profit.
For example, they buy assets “with a leverage” - an amount, which is 2 or even 10 times more than their own funds.
As a result, when the market moves adversely, the investor loses 2 or even 10 times more money than he invested.
Acting at random. An investor who does not understand what and why he is buying, does not know his level of risk, and has no clear goals is doomed to failure.
Actions on emotions. The market is constantly changing, the quotes rise and fall, the opinions of analysts can change minute by minute. If not treated with a certain equanimity, the stress will inevitably lead to mistakes and deviation from the chosen strategy due to news or excitement.
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Trade with patience. What you lose can’t come back. However, you have the potential to make handsome rewards in future if you learn from your mistakes.
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Take your losses as paying for the experience. But don’t come back with the real money until you’ve got a grasp on what went wrong.
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Exactly, the market isn’t going anywhere so there is no need to rush things. Never compare yourself with others, rather learn from them either good or bad to better your trades.
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I think you must learn first and then try out different ways of approaching a strategy. Anything can happen in the market, it is uncertain most times. Research and gather some new tricks and skills to trade better.
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It’s very common scenario in the beginning; so don’t be upset & try to use a small trading capital (in demo)! It will help you to focus on your learning process!
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While reading the topic I thought that you put a huge amount of money for a trade by mistake but after reading the question I am assuming that you are still learning with a demo account so you won’t actually lose any real money. That was a relief. Also I don’t think there is any trustworthy method to mimic copy trading and ensure the safety of your funds. So please keep practising and learning and make sure to start with a small amount when you start trading with real money.
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Copy trading can be profitable to a certain extent but to be successful in the long run one needs to learn how to trade.
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It is advisable to put trading on hold for the time being. For the time being, all you can do is learn and practise on a demo account. Putting your money in the market without proper planning and familiarisation is risky. It will only result in losses. It is advised to invest in the market only after becoming familiar with the subject, and you should not invest if you cannot afford to lose.
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Demo is a must before putting any money in for sure
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