Hi everybody, I’m Noxolo from South Africa , I’m in my first year of trading, I won’t lie it has been a challenging one from gaining to losing money, I find myself want to give up sometimes but I have dreams and goals so I rather grow than give up. Hoping when time goes by things will make sense and it won’t come to a point where I find myself wanting to give up because my losses are dominating my profits.
What leverage is best when you are using a broker leveraging from 1:100 - 1:1000, any suggestions?
Don’t beat yourself up mate, reading your post you have more awareness and insight then alot of new posts on here .Trading a gradual progression not a get rich scheme,winning and losing is all part of the game. Many successful traders have big losers but come back stronger and more determined to succeed.
I use spread betting platform UK ,I’m happy I don’t have to stress about leverage ratio s
I have no idea since I’m a pretty early noobie, but my guess is that you should go for the lightest leverage possible, cause you wouldn’t want to clear your progress in a small amout of time.
Play small, mitigate risks.
Perseverance will get you anywhere.
Perseverance is key to eventual success - well done. Aim to do more of what works and less of what doesn’t. I suggest you find a regulated broker using 30:1 leverage which gives you space on a small account, and limits your risk exposure.
Having said that, I have traded a $65 account for four months using a 200:1 leverage, but that’s high risk if you are not at least a break-even trader. What that exercise taught me was to always follow my strategy process (Ichimoku), and maintaining rigid discipline, patience, and emotional control management.
It’s tough, and it took me one year 8 months to become profitable, albeit on a small account size. Forget about gaining and losing money, focus your mindset ONLY on percentages, and the rewards will follow.
Welcome to the forum. Do not use too much leverage as a beginner. Only trade with the money you have and spend some time on a demo account first. Work on devising a strategy first and pay more attention to risk management. Do not give up as you will only get better if you learn from all these experiences and losses as a trader.
, I’m in my first year of trading, I won’t lie it has been a challenging one from gaining to losing money, I find myself want to give up sometimes but I have dreams and goals so I rather grow than give up. Hoping when time goes by things will make sense and it won’t come to a point where I find myself wanting to give up because my losses are dominating my profits.
