Hey boss! This is FOREX MARKET we are talking about. You did well to start with a demo account, especially considering that you are being too emotional. I guess if you lost that much on a real account you’d be hospitalised by now. Not judging, just being realistic here dude. Never mix emotions with trade
You lost virtual money and got discouraged to the point of taking a break! This is sad news. The reason why beginners trade on Demo is to lose and learn from those losses. You have the chance to test your strategy and learn trading discipline. Use it man! And harden your heart if you want to use a real account in future
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the suggestion from me is to try again for longer with the use of your forex guru’s.
You did a good think to start with demo, my friend. It will take you some time before you get rooted in the trade to understand that you can never trade with emotions. Just be careful not to take too long before learning since you can risk losing more than that. Revise your strategy and get moving
Work with more experienced traders, subscribe to a signal or download an algorithm if you want to trade live.
If you want to trade Forex as a practice you will need to feed yourself the proper information, the cross-pair charts alone can be very misleading when trading in a tight time-frame.
Hi!. I think your emotions are related to a lack of understanding of how it will be in the future after a month or years with this trading method you are using. You see results and extrapolate them for a longer trading period, right?. Well, the strategy of price crossover MA with no trend filters and proper risk reward, gives the results of break-even, if you select each signal with prices of previous closed bar. The solution is simple - go to demo trading only after successful backtesting applied to the risk management of the current trading account for at least the last year period. It gives you the facts in numbers that you can expect from it. Don’t waste your life time on it just to figure out how it goes through the longer period. Have a good one!
Just keep practising on the demo account, thats what its for
I’m sorry but you need a little reality check.
if everyone was a successful trader after a few weeks everyone would be sat sipping sangria somewhere sunny rather than working for a living. The harsh reality is that trading takes a lot of hard work. years of hard work not a few weeks.
Sure its frustrating, sure its demoralizing (try wiping out a 10000 demo account) but you need to go through that and start to enjoy it rather than bash yourself for losing all the time.
As for your strategy, it’s not one. simply buying on MA crossovers is not a strategy, if it was that easy again, we would all be doing it. A strategy encompases entry, exit, trade management, risk to reward, and capital management. all of those things.
If you are truly serious about this, get your sleeves rolled up and prepare for some serious work.