It’s good that you read a lot of books but what is even more important in trading is practical knowledge and experience. Without this you cannot expect to win your trades or develop a sound understanding of trading dynamics. You need to analyze your trading strategies more deeply and find where they are lacking. Learning is a continuous process, so as you trade your knowledge will keep on increasing. You’ll realize where you are going wrong and hopefully will be able to change that! So keep your hopes up. You’ll get there eventually.
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Yes it is , they know how to manage risk particularly when market moves at random , but to be a professional trader is a big deal, it’s a long term process.
Dont worry it can be done…
(Represents Return since my new strategy began in February 2018. 2016 to Jan.2018 was used to create it.)
14% target hit…30% next target in sight…
Duane
DRFXTRADING
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Take a step back, stop trading on a live account, go through the theory all over again, then begin form a trading plan and start practicing it on a demo account. Keep practicing it until you’re consistently profitable on the demo accoung, then move back onto the live account and begin executing the same plan, don’t deviate from it. Use small lot sizes initially, then gradually increase them to whatever lot you’re comfortable with.
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It is good to go back to demo account or practice more , ups and downs of trading makes trader disappointed but do not loose your hope. I think some effort for polishing your trading will certainly result in good. Practice with low risk can upgrade your confidence as well as experience . It will make you more happy when you got return from your money.
You should not give up like this. You won’t find a single trader who has not faced failures. Rather try to analyze the reasons of your mistakes. And obviously try to practice more and more with the demo trading accounts.
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Yes , there is no one in this market place who never did losses and can avoid loss completely, it’s a common attitude , but by more practice there is a chance to become experience trader that can support to avoid unfortunate losses when trading.
you just need some time and experience. if you learn a lot, but still lose, then you learn something wrong. first, try to find your strategy, when most deals will be profitable. but try it on cent account for example, in order not to lose too much money.
don’t give up!
read more analytics, try to predict currencies movement by yourself, read the news and so on. do not copy the others style of trading. find yours.
i believe you’ll find your way.
Exactly, this one experience does not have to be the end. Why are you in trading? You need to decide for yourself whether this loss means more to you than your purpose in trading. There is an old saying that if you fall down from a horse, you should sit back right away… You need evaluate what went wrong and learn from your mistakes. This could be a formative experience for you, hang in there!
Loss is a common attitude in here that anyone can’t avoid despite of good knowledge, but if we do same losses again and again there is no chance to come out from losses.
Yup Geopolitics are also part of that.
Forex trading is not an easy job. It takes a lot of sacrifice and patience from a man. Don’t lose hope my friend. Take some break from trading. Go on a vacation or obtain a hobby for a while. Just remember losing is not the end of the world.
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sacrifice from a man OR woman
I concur. Taking a break allows you to recharge your batteries and get back in the game with more focus and better mood!
Give up, and learn how to knit.
The Ever Harsh VIPER
Libr8 _bob
I’m hardly an expert, but i think risk management needs to be a priority in your trading, as trading is about managing risk.
Completely agree with you. It is required a many time
what you think there is any different between money and risk management ?
Be prepared for all types of risks and difficulties that can come to forex business. It is not an easy way of earning. Keep learning until you are not easy and relax with market. In beginning many types of sorrows will capture traders he cna beat them with patience , passion and regular hard work.
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What you’re going through is completely normal so don’t worry. As a beginner you’ll find it challenging to keep up with the markets. You may have learnt a lot in forex but you still haven’t learnt enough. Learning is something that will continue throughout your life. So keep an open mind and attitude and in time you’ll see improvements. A small tip? Step away from forex for a while and take time to unwind. Then come back and restart with fresh energy and determination. Never forget how important following a trading plan and risk management is! Practice on demo as much as you can and go slowly. All the very best! 