Hello trader gang!!!I’m not asking a question I just wanted to share my experience. So when I first heard about trading and downloaded the MT5 on my phone I practiced a bit and when I say practice I mean an onset of going in and out of the market with no plan no strategy no nothing. Ugghhhh!!!that was so horrible but everybody’s gotta start somewhere. So anywho, me feeling like ohhh I can totally start a live account and start trading making some big money.(never go in the market with the incentive to get money ) I got 200us and put it on my account and I ended up getting 400us I was so excited!!! Thought was like psssshhh trading is eassyyy. Chiiillleee I lost all that money and blew my account every single cent 
but it taught me a very important lesson in humility and learning. It taught me that I had a lot more to learn about forex and that this is not a get money quick scheme. So after that I happened in May I watched a lot of videos with top traders and now I’m following their advice. I got on my Demo account and got an excel sheet to record my trades. I’m learning about risk management. I only take 4-5 trades three days out of the week sometimes 4. I still have a lot of stuff to work on and a lot of time to invest but I know once I work hard and develop my trading psychology i will be consistently profitable someday. So keep the faith guys let’s keep learning and growing and trading !!!
I am loving your energy! 
Haha. Welcome to babypips Ruth! 
I love how you used your past mistake as a learning opportunity and I’m glad you didn’t let it discourage you from pursuing forex. I wish you all the best in your journey! Do you have any plans of creating a trading journal here?
Haha thanks for sharing and sounds like you are now on the right track! Look forward to hearing how you progress as you seem self aware and willing to learn from your mistakes!
Good luck!
Nate
Thank you ria_rose 
I’m really trying to be realistic about my trading journey I know losses are unavoidable and yeah I’m thinking about doing a trading journal here it will keep me aware and accountable. How long have you been trading for which area are you from ?
Thanks Nate! Self awareness is everything!
Looks like those $200 were not wasted entirely, you learned a valuable lesson of needing to learn a lot more about trading. I wish you all the best.
Always try to make all you r mistakes as your learning opportunities. You can make a good career in this market.
I am glad you learned the lesson. I wish many new traders can read this thread, They could learn from it as well.
Mistakes are part of a successful trade and everyone does it. All novice traders make the same mistake, some of them give up on subsequent trades, and some of them are trapped in a loop where they can’t get out. It’s very important that traders should pay attention to their mistakes and never repeat the same thing.
That’s so true. We all need to keep learning and growing as traders.
This is very good that you make your mistakes as a learning. I hope you will make better profit next time.
Averaging down is adding to your position (the price you purchased the trade at) as the price moves against you, in the mistaken belief that the trend will reverse. Adding to a losing trade is a dangerous practice. The price can move against you for much longer than you expect, as your loss gets exponentially larger.
Sage advice! This should be a rule set in stone. Never, ever add to a trade in drawdown.
mistake is very common thing and i think there is no way to avoid mistake in life or trading , but if this mistake happens again and again then its your own choice.
My second favourite book to ‘Trading in the Zone’ is …
’Zen in the Markets’ - Edward Allen Toppel (available free in PDF)
Rules -
- Never add to a loser.
- Add to winners.
- Let profits run.
- Cut losses fast.
- Don’t pick bottoms.
- Don’t pick tops.
Confessions of a Samurai Trader.
What he means in rules 5 and 6 is that the market can always go lower or higher. He is an avid trend trader and does not favour reversal trading against the trend.