Hi all, I began getting interested in forex 2 years ago.
I got used to trading on demo to start with and have been trading a live account for exactly a year now.
It’s only a small £1400 account but after one year and literally hundreds of trades I am only down £19. It has been a lot more but I feel I am actually getting comfortable with it and have just settled into the type of trading I want to master.
I love learning, practising and analysing my trades hope to very soon begin making growth to my account. If I can get to that stage on a regular basis it will be awesome.
I am in the UK so I am restricted to 1:30 leverage, and to be honest I am glad about that.
Thanks everyone, it’s great to communicate to fellow traders.
2 Likes
Welcome aboard, and well done for keeping your account balance at breakeven. I suggest you do more of what works and less of what doesn’t - which means try reducing your trades to those which could give you a better probability of success.
On a $1,400 account you have breathing space for your S/L. Use it. If you limit your daily risk exposure on open trades to 5% ($70) and keep to it, that will be a benefit. As for 30:1 leverage, it doesn’t stop you from opening more than one position within the margin exposure.
Best of luck going forward.
2 Likes
Thanks Steve, that’s great advice. I’ve now managed to get my account into profit!! Not a lot but for me it’s a milestone and I am going to try to keep it gaining ground.
I’m concentrating my efforts to basically two types of strategies which I’ve found suit me and am also practising on bar replay. I’ve also decided to journal using a spreadsheet from now on which I am looking forward to.
Really appreciate your reply, it’s very encouraging to communicate with fellow traders.
1 Like
That’s really good news. And you’re now doing everything right. Just follow the same process, day in and day out.
As my pro trader friend says, ‘onwards and upwards’.
1 Like
Hi
UK.too you coming across as very wise ,your not Dr Pipslow in disguise are you? good to see your steadily getting where you want to be
1 Like