I’m Danso Emmanuel Effah a 20 old year boy looking for opportunity to be a mentee, most mentorship are given at high cost so a friend told me about babypips and here i am. I have been trading forex for a year now and I’m kind of cool with price action trade. i keep blowing my account so i just realized I need more than knowing price action. I’m here to learn more so please help me achieve my trading goals. thank you
There are many mistakes you could be experiencing:
- Account size too small - money makes money.
- Poor risk manaagement - aim to maximise open trades at 5% and stick to it. That could force you not to gamble/overtrade, revenge trade.
- Poor discipline and patience.
- Lack of emotional control management, which is a critical mindset whether you succeed or fail.
- Not quickly closing losing trades. There’s always another trade waiting.
- Not nursing winning trades.
- Failure to learn how to be on the right side - there’s only two outcomes, you win or you lose.
A mixture of the above are the reasons why 85% of traders fail. Tick off those that’s happening to you.
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Welcome to the community, Danso. Hopefully those accounts are just demo. if not, I suggest that you trade first with demo and don’t trade live until you’re consistently profitable. Good luck on your fx trading journey.
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Hello and welcome Danso! Do not rush into trading with your real money. Focus on getting the required skills and practice.I hope you’ll get the help needed in this community and learn from all the free materials here. Good luck!
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i hope you will be benefited by this community with no doubt. have a good journey
practice is important but any kind of practice session can be useless if you trade in a demo. because there is no emotions. so no seriousness works when trading.
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