Losing forex trade and forex profitability

Hellow my fellow babypips follower,how are you guys
It is almost 1 month and about two weeks since i started taking forex business seriously.
I have two questions for you all

  1. When and which conditions do you use to know that your trade is loosing…???
  2. Is forex a really business…?? And can i make a profit of 15 usd each day starting with a capital of 150 usd
    Dont laugh at me please​:smiley::smiley:

Nobody should laugh at a new trader who asks good questions.
Why are these good questions? - Because so many new traders ask them and want to know the answers.

I will have a go at No.1.
If you have a strategy with rules for your set-up and entry and exit conditions as seen on a chart, the chart will show you a number of features which make this a trade you should take. Make them into a list or table and put the most important ones at the top. Let’s say you now have a list of 6 or 8 or 10 TA features. Let’s say the top 3 are very important and the rest are less important. A good time to exit the trade would be when one of the top 3 or two of less important features disappear after your entry.

Of course, if you have a trade open you should have a stop-loss, set with the broker (or in your head if you can keep watching the position). When price reaches the stop-loss you must get out to protect your capital. This is going to be very hard with only $150. I have never heard of such a small account being profitable, maybe someone else can comment on your Question No.2.

I’ll take my attempt a Q#2 coming from an individual that started with an account in that range.

Question #2.

Well your basically saying you’re willing to risk 10% per trade to get a profit of $15 on an account of $150.

If you literally have 3 trades go against you, you’ve blown about 30% of your account.

I’d say you should aim for a number that’ll keep you in business incase you have a few trades go against you. (1% - $1.5 / 3% - $4.5 / 5% - $7.5)

That way incase anything truly goes wrong you’re still in the running and have a shot to eventually recoup your losses. It’ll be much harder to do if you lose 30-40% of your account because your mind will eventually be playing mental tricks on you and have you all psyched out.

Again if you’re looking to be aggressive in your approach I’d recommend that before taking the trade it satisfies about 70-75% of your trading system (maybe a little higher to really be on the safe side).

Just trade cautiously my friend. It is very easy to lose money & it’s not that easy to make money.