you are doing something illegal
because you are not yet eighteen years old
so stop wasting your money
and go to the demo account until you reach eighteen years old
anybody advising this kid into continuing his illegal activity
will be an accomplice in that illegal activity
Ever heard of a custodial account ? The account is under my brothers name. You should be happy that I took this path at this age most 15 year olds are playing fortnite.
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Please calm that negative way of thinking. There are obviously ways he can have an account he does have parents and older sibling as he stated. Instead encourage him on the right path because he’s already thinking differently from such a young age. These are the kind of kids that end up doing something great later in life. Just have faith and patience he’s young and still learning the laws of life itself. Don’t extinguish his hunger and urge to be financially free. Like I stated earlier I wish I had even a portion of his train of thought at that age.
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Hi eamen,
Im very sorry to say this but my advice will go against all the above. I will not congratulate you nor recommend you trade a live account. There are a number of reasons for this:
You mentioned you have anxiety/ depression causing you to leave school. The truth is if you found school hard, trading will be too difficult for you to keep your emotions in check. In fact, you could be doing more harm to yourself as in school you can take on less work in trading the market doesnt care and will punish you severely for a lack in concentration.
The way you have been trading is hugely over-leveraged and too much risk for your account. My concern is you have not understood money management/ risk management and have already been trading a live account. You can read any book, watch any video or read any online page and the % risk is always risk 1-2% per trade. Did you know this but chose to not follow?
Despite the above, you can make a success of trading but not the way you’re going. You need to take time off and get back to trading education. Do the babypips course as a first step and only trade a demo account for now. Trading is great but just like being a doctor/lawyer/ footballer; you need to do the hard work first. Hope this all helped and I wish you the very best.
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I didn’t explain it more but it wasn’t because of education I had problems with people in the school causing me to be scared to go. It’s been a year now and I’m better controlling my emotions with therapy and medication. Also Yes I knew but I followed it for a while but I got too greedy and messed up. I said I will stop and until may keep on learning and then get a part time job for myself so I can fund my account but I’ll trade with 0.01 lot size. I understand it takes a long time since I found about trading I always knew It take’s more then a couple of years of hard work to really see some good profit.
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@anon84881086 despite the above positive and negative comments, I’m gonna act like I didn’t read most of it.
Stay live. You do not need a demo account. The purpose of a demo account is to learn to navigate the MT4 platform. Once you have that down, micro trade the live account. If you overdue your lots, YOU… know what’s gonna happen.
I’ve read countless books that warn about the NFP, holding a trade open during a weekend and a host of other warnings. Today, I trade the NFP. i always hold a trade over the weekend under MY criteria.
I personally would never risk 5% on any initial trade, however I know traders who do. There are also countless ways of adding to a winning position with zero risk.
Always remember ill eagle is noting more than a sick bird. No broker is going to fund a teenager.
Hang in there. the bottom line here is YOU decide what happens. I strongly urge you to again… avoid anything negative. There are lots of naysayers out there.
Finally, my two biggest streaks BOTH came during a major holiday. I rarely use a TP.
HAPPY TRADING
Reno .
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I think you need to help yourself mentally and emotionally before taking trading any further I am myself a beginner but one thing I do no and have learned over past few months is that the financial markets a definite a way of becoming financially independent but from everything I’m learning and feeling myself when I’m trading it’s a mad emotional rollercoaster I think the big key to being successful is controlling our emotions and having the right mindset and last but not least putting a shitload of hard work in too it. Oo my grammar is terrible too 
can’t spell lol.
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I think one the best things happened to you. You are lucky that you didn’t win in your early days of trading. Start paper trading and make some money using stop-loss boy. After 100 trades, look at your balance chart. If you see almost linear growth, go trade 0.01 lot (not more than that).
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I would advise not trading and getting more education and demo practise first (atleast 6 months)
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Educate yourself first. Make use of paper trading to understand yourself better.
-
What type of trader are you?
a) Day trader or swing trader?
b) Trend follower, breakout trader or reversal trader? -
Are you looking for a system that has a high win rate but inferior risk to reward ratio (RRR)? Or are you looking for a system that allows your winners to run and each win is able to compensate for a few consecutive losses?
-
Are you looking to replace your active income from your day job with trading? Or are you looking to build your wealth through trading?
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Every system has its drawdowns and down times. Are you patient enough to let your system prove itself even if you suffer 10 losses in a row (assuming you have done your back and forward testing)?
-
Forex is not a get rich quick scheme.
Hope it helps.
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Hey man I’m a 16 year old forex trader as well. I started out with about $500 USD and have slowly been growing it. I’m not the greatest at trading but I’ve put in tons and tons of hours into my trades and am slowly getting better. I was looking for another young person my age doing the same things I am and I am happy to have found you! Keep up the great work and if you ever want we could definitely combine our brains in the trading world😂
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you are gifted i might say. first of all, avoid trade when you feel sad or angry or desperate. 2nd, you should lower your lot size eg 0.01 and mark all mistake your have done, the process will take time for you to sharpen your skill and knowledge. 3rd, follow your own sop, which is design by you yourself. More Discipline if you follow your sop, you might alter the sop after some time. 4th, pray.
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greed is a horrable thing always remember that trading is not a get rich quick scheme stick to your trading plan and always remember to check the economic news on a daily biasis before you enter a trade high impact news will move the market so dont trade the pairs with high impact news trade other pairs that are not affected stick to trading 0.10 untill you feel conftable with being able to manage the stress of losses we all lose but the the idea is lose tades but come back if you let the loses affect you you will take trades without sticking to your plan if you lose stop trading for the day and come back the next day all fresh also go over your trade to see where you went wrong most of the time you can see where you went wrong when you look over your trade with a fresh head
good luck hope this has helped you
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The first response you got said it all. You re going to face further losses in the future. So, find a way to move past this one. If you can turn 250 to 600 with smaller lot sizes, you can do it again. So take 1% of 100 on your trades and start doing what you do best.
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Go to no nonsense forex on youtube and watch every single video, have your eyes opened to the diffrent routes than those preached by the masses, you won’t regret it
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Wow. Props to these young people for entering an industry that’s not gaming or just Instagram! 
What’s your account at now?
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Keep that chin up, shoulders back. Keep your head help high. You got this kiddo. I think we ALL are cheering you on. One foot in front of the other. You are already a CHAMPION !!!
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Basically, you learned how probability and statistics work in trading. In a nutshell they start to work in the long run - i.e. in the series of trades. Same as a coin toss - you may get TTTTT in the first 5 tosses and win 5$ but in the long run expected value of your gain is zero. Without strict money management (I.e. risking no more than 1% of equity per trade, determining TP and SL beforehand according to acceptable risk) every trader is guaranteed to fail because, in 100 of trades you WILL get a trade that will be powerful enough to drive your equity to 0. Your trades should be always protected from unexpected and unlimited risk = trading without stop loss is a disaster.
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Hi Eamen442,
Your an amazing 15 year old firstly, most people your age are too busy chasing down girls or glued to the playstations and xbox. I have nothing against it but your level of thought and your passion for progression is fantastic in this day and age. I understand that school can be hard, i worked in education for 10 years in the UK and it was not fun at all. All i can say to you is, do the baby pips course first, you will discover some of the errors you will be making. Take your time and please feel free to make mistakes, remember little darling, F.A.I.L stands for FIRST ATTEMPT IN LEARNING. I dont know you but all i can say is i am a mother and i am proud of you. Keep going stay focused and you will find your way.
PS: Open a demo account it allows you to make mistakes safely its the same as live account and you can go crazy here with making mistakes. Remember the more mistakes you make the faster you will learn what works and what does not.
Keep going your fantastic!
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If you have already done the school of pipology here on BabyPiips, go to YouTube and check out No Nonsense FOREX. It is a long education, but it is free and worth all the time you can put into it.
Good luck!
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