I will have to say I am great at turning money into no money. I didn’t no it was so easy!!
Well last week I killed my account in my second week of trading. I don’t know if it was because of the market or me being crap only time will tell. I started the fight back this week and all is looking ok after day one.
Still learning and this site has to be the best I have found so far.
Yes this site is great. Go through the school of pipschology and use sound money management you will in all likely hood have this account last longer
Since you are good at losing… ask someone to always trade against you but with more money, split his winnings LOL
how much did you start with if you dont mind me asking? I hope it wasn’t too much.
nope $1200. working it back bit at a time
i like that!!
well i win a lot I only lose big and win small. I have it the wrong way around. I lost the most when work orders fired after I closed the trade didn’t think anything was going on when I come back I see well I am F…
The other thing I think I do wrong is I watch the trade and move my stop after I put money in and don’t trust its right.
O and whats the best chat software? I am using GFT and I don’t get all the info like the Ichimoku Kinko Hyo stuff. Which makes. any ideas ?
I highly recommend watching the video on risk management in the thread titled “What Every New & Or Aspiring Forex Trader… Still Wants To Know” by InnerCircleTrader - actually watch all the videos in there!
These really opened my eyes to the fact that losing all your money quickly in Forex shouldn’t be so easy if you practice strict risk management. Starting with your balance of $1,200 and risking a maximum of 2% of your account per trade (and reassessing the amount after each loss), it would take you a minimum of 100 losing trades in a row to reach a balance of $162.39.
Assuming your just flipping a coin to decide whether you short or long a currency pair; the odds of achieving those 100 consecutive losses in a row are 1 in 1,267,650,600,228,229,401,496,703,205,376.
Obviously if you have a really horrible trading system in place that actually is capable of picking 100 of losing trades in a row you should just consider doing the opposite of whatever it says or switch to using the coin 
Obviously if you have a really horrible trading system in place that actually is capable of picking 100 of losing trades in a row you should just consider doing the opposite of whatever it says or switch to using the coin
That is really funny almost choked on that
“Experientia est optima rerum magistra”: was said thousands years ago and we can’t help saying that this is right! So, try trading, maybe you do not have to trade on real accounts in the start? you can get demo and see how the market works and so you could understand it much better. Good luck!
i like that you are honest with us and yourself (dig the name)…i think people with that mentality actually get ahead faster than those who kid themselves into thinking they can do it all right from the beginning. i think persistance is key with this…but you don’t have to learn with real money. unless you’re one of those people who just feel that they aren’t taking it seriously unless it’s real. personally, i am still upset with my losses even on my demo account. because i need to prove that i can do this, before i go live. and each loss is a setback. but some losses are inevitable, and risk management is the key to staying afloat as previous posters have mentioned. best of luck to you!
The problem is you. Too much leverage, nothing of skills. The ugly true. If leverage is there it does not mean you have to use it. It’s like your car, if it has a maximun speed of 200 mph, it does not mean that you have to run that speed.
Regards.
Hey i’m new too and found that trading a demo was ok but when you use your own money you learnt a lot quicker!!! I was told only ever risk 1-2% max on any trade. I too read through the school and there is so much info, so take your time, do a bit of small trading(10p per pip) then read some more. You can then link theory and practical together. If I loose a trade I now find out why, rather than searching faster for another. Remember-knowledge is power!!!
Good luck
Demos are just for you to test the broker and learn how to put orders and specially stop loss, never forget stop loss. And then practice with real money but with no more than 200 USD and metalize yourself to lose it. Forex is not about wining, it is about not losing.
Regards.