I was introduced to trading a few years ago by a young guy from Forex CT in Melbourne. All was ok, but I lost interest and think I dwindled my $1000 to nothing as i was a beginner and didn’t take the time to learn. 6 months later enter another rep from the same company who said, hey I think you would have won 80% of your trades if you didn’t put a stop loss on them. I kicked off again with no stop loss, but reasonably careful tech analysis of my trades. I quickly made around $9K profit. One late Friday day my 5 thumbs added an extra 0 to one of my trades. By the time the weekend passed, my account liquidated and I was out. I blew around $10K of my money all up. Most of the workers from that co. have been banned due to dodgy practices, including the account manager I had. Despite this, had I not made that mistake, I think I would have been ok with trading. Anyway, until now I vowed no to do it again, but yesterday signed up with NationalTradeCenter dot io using the automatic trading feature on the Meta Trader 5 platform, focusing on crypto/USD trades, but it’s a trial confidence booster for me to see if I can get back on the horse. It is an exciting area I think, and if you can master it, you’ll do alright…
Welcome aboard this great education site. I would suggest you need to focus on risk and money management techniques to at least minimise your losses, because your weaknesses seem to be an ability to overtrade with high risk exposure. Which is gambling.
However, I’m sure you are now aware of the pitfalls - and I suggest you keep your NTC leverage to 200:1 maximum, and keep your risk exposure on open trades at a maximum 5% - which should be the daily maximum.
Also keep in mind that there’s no short cut to eventual success. I hope it works out for you.
try to overcome from overtrading , only due to this reason most of the traders fall a great trouble.
Where was overtrading mentioned by the OP?
Nice post even negative experience s can become beneficial