[QUOTE=“moneyhound;632265”] I am not trying to be rude, however after a quick scan of your post, it did not take long even as a newbie myself to conclude that I can answer your query with one a one word statement… EDUCATION![/QUOTE]
i would say time (yes spend hours upon hours, have no life, total disregard for hygiene, no sleep), not education (we all know what a college degree is worth these days) is the answer.
Forex is not easy to trade and mostly people loose their money in Forex. To avoid loose money in Forex every trader should have good knowldge and skills about Forex.
All i can advise is learn about forex first before risking your money;
I have made a small video for newbees available from my yt channel page:
[video]Oops! Something went wrong. - YouTube
Hope it helps
Cheers
Go back to a demo first, build up your confidence in your method.
[QUOTE=“moneyhound;632624”] How about a reading comprehension course for yourself??? Hahahah. Did I use the word COLLEGE education anywhere in my post? You do not think educating one’s self (which is exactly what I was referring to)via study should or could be referred to as education?[/QUOTE]
first off, you would have a difficult time understanding what trading is without some form of secondary education (high school, college); try asking an eighth grader to trade a currency pair. second, college is now high school 50 years ago. third, if teaching yourself was so effective, everyone would do that instead of going off to the garbage post secondary education/indoctrination camps. you know what i’m just sick and tired of stupid, losing your money, teach yourself your own stupidity traders. sir, i challenge you to a duel (be ready with a pistol and a second)!
[B](i dont like using stop loss as I have seen the market change in favour of my open trade). [/B]
Always use a stop loss in your trade; This is proper risk management. The trade may come back in your favor, but then again, the trade may keep going against you. This is a major newbie mistake; hopeing that the trade will come back in your favor, so you end up losing your shirt when the trade doesn’t.
[B]As my equity was getting lower and lower the trades where closed by the broker because of not enough free cash in my account[/B]
Yup, this is known as a margin call. The broker has a certain amount of margin that you must maintain on all open trades. If the balance in your account fails below your required margin, the broker is going to call a margin call, and close your trades so that you don’t end up oweing the broker tons of money you may not have.
[B]How can i change things around?[/B]
You need to be using a stop loss in trade. How much are you willing to lose on each trade? This is setting up risk management. Let’s use an example: Lets say you had $100.00 in your account (Yes, I know this is a low amount), and you didn’t want to lose anymore than 2% of your account on a trade; that is $2.00 or if you are trading a micro account, .10 per pip x20 pips = $2. So your stop loss is 20 pips.
I would also go back to a demo account for awhile and trade “on paper” for awhile. You need to be receiving a profit on a majority of your trades before jumping back into real money. If most of your trades are coming out as loses, it is best to stay on the demo until you can say this.
Sorry for not replying to some of the posts, I have been busy with work and reading through different material to enhance my understanding about forex. Currently going through Babypips school of pipsology.
Keeping posting your advice its much appreciated!
Good day Mr King
Ok picked up some good info been studding my heart out Finely discovered Bill Williams old trader and what i have learnt just from watching his video and thought me heeps already making money and im using his indicators google Bill Williams
I know from experience that discipline is a major problem. Study analysis techniques and setups, learn about money management, pick a market and get to know it well. Get a demo account and put it all into practice. Once you can keep repeating trades successfully, only then think about using your hard earned money.
man, i was chasing that eur/usd today with a naked sell (kept selling)… and then it turned around and I had a 30% drawdown!!! aaaahhh! 
Hi,
Actually i will say you never mad mistakes,but sometime trading stratages changes,and you were on lucky,maybe you also ruched in, never waited for confirmation…
My advice is, look for trading stratage you understand most. also get you informed about the latest moves…
Great day…
Some of the other traders hit the nail on the head. You’re not using stop-losses.
I know there was some so called mentor endorsing this dumb idea a few years back, but don’t follow that advice. It will put you in the poor house very quickly.
ha ha good one mate.
See what i got for you…
divine198dotcom…
Thanks…