Hi Everyone,
I put an initial investment of £200 into the Forex market, lost it after 3 months, and I’m wondering what to do now.
Should I persist and put in another £200 or accept that Forex is not for me and try and sell ice lollies this summer?
Any thoughts, opinions or experiences will be much appreciated.
Regards,
C
Hi mate.
I’m quite new to Forex but I would say to demo account for quite sometime and see what you think by the end of it. I’ve lost £1000 in the markets but that was because I was greedy, jumped in trades at the wrong times and over traded alot. Now I’m taking my time with a demo and logging all my trades and profits / losses. £200 isn’t alot in forex depending on the time frame you trade. Daily charts like i use can eat up £200 in a matter of days. You also have to be careful with your stop losses and only risk what your comfortable in doing…even on demo accounts do this as it will keep you in the right mindset should you wish to trade in the future.
All the best,
Adam
No you should practice on demo instead and polish your strategy to the extend it can double or triple your demo accounts, not too much sensitive to spreads and slippage and featured with solid money management plan.
Agreed with the two above!!! Demo demo demo…
Also, mind sharing how you lost the initial investment?
Thanks and good luck!
£200 is a pretty small amount to speculate on currencies. It’s not even enough to trade 1k lot sizes safely.
Do you mind sharing HOW you lost £200 after 3 months? What types of trades were you doing? How big were your position sizes? Were you using some sort of trading system/strategy?
Thanks for all the replies. I’ll go back to the demo account.
Initially I started by trying to trade based on support and resistance lines, which had worked well on a demo account but wasn’t working too well and my account went down to around £150. This may have also been because at the beginning if I had a losing trade I’d try and find a winning one straight after even if one wasn’t there leading to more losses.
I then started trend trading which worked better. I was risking a few pounds per trade and got back to £175. Whenever I’d get there I’d try a bigger trade and after days of trading to make £15 I could sometimes lose it in a few minutes which was frustrating.
Then the UK election came along when my account was at around £130. I made a few predictions, which happened, but not before my stop loss was hit ! These were when I lost my biggest amounts in a couple of trades and my account got wiped 
Appreciate the insight Charlie981
Seriously my friend, FOREX is not for you. The Ice Lollies sounds like a Brilliant idea, but instead of regular ice, get a permit, go wrangle an Ice Berg from Greenland, then you can shave the berg down and have the purest Ice Lollies in all of the Empire. Then you will be making some REAL $$$$$$$
The Ever Visionary VIPER
Try trading 200 pounds on a cent account. At least you’ll feel how it is done, cause you hardly understand that on a standard acc trading 1 lot with huuuge leverage.
Or use demo, as people said before.
Don’t give up if you can’t be profitable just now, you’re a beginner and it’s a normal situation.
I’ve lost money too. Everyone has.
Yup!!! Everyone will take a loss, anyone that tells you otherwise is lying. But please do learn from how you lost your account. If you don’t know what to do to fix it, stay in demo and keep learning/researching/studying until you think you know.
I am very sorry for you, that you lost your initial investment just in 3 months. I suggest you to not give up right now. My advice is doing more study about forex market can help you, do not skip anything, and do more research. Invest less than beginning. Keep this mind knowledge is power, and start with small trades.
It is not a new thing that happened with you . Many traders loose their initial investment in forex. When we trade live in forex many difficulties and mistakes are done. I loose 3 times my capital then with some experience I was able to grow my capital gradually.
Trade demo until you get three months in a row profitable with no cheating. Then trade 0.01 lots per trade in cash until you get three months in a row profitable. Read everything you can find that you think will help you as your trades run. Then you will know what to do. Plan on that taking 10 years.
In my opinion, before you invest real money again you should probably go back to demo trading for a while. Trade on a demo until you see that you are consistently profitable, only then begin trading with real money again.
This is probably your biggest problem. When you trade to try to recover fast, you tend to lose far faster. Work on taking time to assess why you lose a trade and what your next move should be.
Well said well said…
Don’t worry dear, everyone get loss in the beginning but those who learn from their mistakes can earn better, so you should not leave the forex and you should persist in this business as it is lucrative and good rewarding business, never lose your hope, learn from your mistake in order to earn from this business.
Losing initial investment is a part of Forex trading that cannot avoid the maximum beginners. So please don’t worry and never give up. Try to kick off learning from Zero level. Learn from your past mistake and you can learn from Babypips , Fx Factory , FPA forums where so many important threads about how to overcome from losses , senior experts always express their views about at any problems. And must be focus in demo account until a big success.
Most people do not know how to objectively evaluate themselves and their capabilities, for this they need an outside view.
Happens to the best of us.