Just lost over 2,000 GBP! Any tips on what to buy?

I made over 2000 GBP on the demo account and finally started the live account 3 weeks ago.
Initially made a £350 and then lost over £2000 after the missile strike by N. Korea :frowning:
I made about £200 today after the market went up again.

This incident really really broke me! I’m not even sure what to buy etc. Can anyone help in suggesting what to buy etc.?

PS. Lost over £2000 in the USD/JPY pair :confused:

I suggest you go back to Demo.

The Ever Suggesting VIPER

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Remember to only risk 1% or less of account per trade

My suggestion: use stop loss to prevent big losses

Go to North Korea, they are laughing at you, look at there smiley faces - ask them for your money back.

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What the… Haha look at their face!!! Make mi want to vomit bro… Wahaha… Anyway… Idk (I don’t know) how u lost 2k… U let it run? Waiting for pull back? Or in few trade?

Hey .
Sorry for your loss.

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that what happens when you never put a stop loss buddy.

Unless the 2k is 1% of your account.

Sounds like you may be jealous you don’t have that kind of money to lose. I heard through the grapevine you trade on your mom’s computer.

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A lot of traders go through this. If you have 100,000 in your account, it’s no problem. If you don’t it may be a problem. Trade 1-2% of your account on any one trade. It may be useful to go through the BabyPips course all the way through so you can have a basic understanding of trading. Then give it another try using much smaller position sizes.

Hope this helps.

This is true, still on demo Steve and living at home in a shared bedroom with dial up connection :joy:

Keep up the trolling you loser.

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May I know about your demo trading experience please? I mean, how many months you used demo?

If you’re replying back to my post above regarding a demo FX account, then it was in sarcasm, so apologies for the confusion.

However, when I did use a demo account I did so for around 2 years, maybe even approaching 3 years before I funded a live account. Everyone is different and we all have our own choices. At the time I took demo very seriously, unlike some, which is perhaps one contributing reason as to why I spent a rather long time before going ‘live’.

All in all I saw a minimal difference between that of a demo account and a live funded account - both concerning emotions and returns.

What’s your risk reward ratio? Listen, you can’t take more than 2-3% risk ratio in your per trade position! I see, you didn’t follow money management and risk management rules!

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I am sure, you tried for live trading without practicing your demo! Listen, its not easy job! If you try without enough preparation, then you’ll lose your money that’s very natural! So learn first then try to make money!

Yes - absolutely, definitely: you need to buy a few proper beginners’ textbooks on trading, and read them before trading again, even on demo.

And for God’s sake stop listening to people like Togr, Steve Eppeson, LauChoKun, and “Peter Siddle”, who have absolutely no idea what they’re talking about.

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You Mad Bro. hehehehehehehe,:joy: “I second your emotion” you are right on with your assesment. So yeah OP, go through the BabyPips School, then read everything by Alexander Elder, especially Trading For A Living. Then go on Sim for about 3 years, then start with $500.00, then after 2 years you can start trading size. Of course the step up in size is predicated on generating Alpha in the sim environment and small size account.

The Ever Knowing This Stuff VIPER

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thanks for saying what we are all thinking

@Quickly
you are the one who has no idea what you talk about
I have been, unlike you, trading for living for years.
I have unlike you many real, profitable and verified accounts.
So stop behave like a small child attacking everyone who does not posses the same set of ideas like you.

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Chalk it up as an extremely harsh lesson.

Losing 2K GBP is rough but if it makes you feel better I’ve lost 16K GBP in the past 10 months!

Rule 1 of trading: Never trade what you can’t afford to lose.

I remember back in college my friend lost 10K USD in one night when he first started out, but now he’s become very successful in Forex.