Don’t trust the ads. Trust your own judgements - read what the broker in question offers, read reviews by clients, look for any warnings that regulators might have issued against them, talk to customer support, etc.etc. All ads can help with is to notify you that a certain service exists, nothing more.
Thank you for sharing this, this is invaluable lesson ( albeit harsh ) to newbies such as myself. I recently finished BabyPips School and it taught me a seemingly conservative way to approach the markets.
I’ve dipped my toes on cryptocurrency without taking any lessons and learned the hard way, and I understand now that proper risk management helps us newbies avoid mistakes such as this.
Forex is not a place of gamble. It is always advisable to learn money management and some strategy before going to trade in a live account. I am really sorry learn such sad story. But this is common story among newbie traders.
If you can think forex as a business and avoid your greed of becoming rich overnight, you can win from this market. Always calculate how much risk, you can take in each trade.
So, why you invested your hard-earned money here if you don’t know how to trade properly? It’s not any game man!! Very Sad.
Trying any kind of trading with prior education is generally not a very good idea.
As for the Babypips school, it really is a great way to learn. Did you take the trading quizzes after finishing the school? I find them a great way to reaffirm one’s knowledge.
Hi,
Yes, I finished the courses and completed all the quizzes for each section to ensure I have a full grasp before I moved on.
Now it’s just testing different systems and demo trading until I’m ready.
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Keep going. Don’t be afraid to experiment, to try different ideas, systems, strategies, brokers, etc. Now is the time to gain basic knowledge and experience about all these things.
Yeah, right. I always ignore such posts those are misleading you with wrong information about the work and trading. Focusing on your self and learning with yourself is the good way to be successful.
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I started with 10 Euro. At the moment I have 7.35 Euro. Why start big when you are just starting to invest in a business? I do wish you all the best.
That is a good approach to have.
I was very naive when I was a newbie and I believe a lot of the advertising I saw. Needless to say, I got pretty badly burned more than a few times. Now I am exceedingly cautious.
I am a newbie, I have never considered myself as a trader. I always feel like, I am a new trader and started my trading from this day only. Every new day is something new to me. Never trust anyone, yourself can do anything that you want.
Any person who trades is a trader. They could be a newbie, an experienced trader, a professional trader, an amateur trader, a part-time trader, etc. but they are always a trader.
Keep trading and keep learning. 
Good straight talk that we all need to hear.
The golden rule: don’t invest more than you can afford to lose
Yes. Definitely do not trade live.
You’re 5 years too late
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Lol. I should really pay attention to that.
It happens more often in this market when people enter into the market with zero practice or a little practice on a demo account and end up losing all they have. You people are strictly advised not to enter the market without home work.
Yeah right without adequate preparation and research it is not only risky but also foolish to start trading. The volatile forex market is not kind to the unprepared trader.
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Very sorry to hear that you have lost most of my life savings in the forex market. It is a very true fact that forex is a highly competitive market place and a trader will require proper risk management and fund management to ensure safe trading. You should also try to work with various pending orders to achieve your goals.
I agree there can be nothing more heartbreaking than losing your entire life savings in forex. But most traders trade rather sloppily on demo accounts and use too much leverage when they go live. So the end result is that they suffer badly and end up blowing away their investment. And when it comes to risk management they through caution to the wind. The thing is that almost always it our faults or shortcomings that lead to our doom in trading rather than some external factor.