Totally new trader!

I have just joined this forum after watching a few youtube videos, loads of people have stated to go onto babypips if you are staring out.

I have been trading for the past 3 weeks with a demo account and have gone live 5 days ago.

What I have realised is the demo account was easier to make money, compared to the live account.

I am not sure if the software is designed like this?

I currently trade with trading212, not really sure if there is any other platforms which are better to trade with,

What should I look out for anything to invest in, currently I have 10k to invest, over the past 5 days it has been up and down, some days making £900 and then one bad trade can take it all…

As I am new at this I look at trading in small intervals…
I.E 1M-15M intervals.

USD/ZAR saved me today, I am just about broke even for the whole week after being in profit of £1,700.

I appreciate all your help!!

Hi and welcome on BP :slight_smile: some little tips for you as a start, go to education section in BP, when you finish school of pipsology, open demo account again, because you are new, don’t touch timeframe lower than H1, the best time frame for you is the daily chart for now. If you have live account close it, you don’t have need it right now, don’t waste your cash, you can always open a live account. Regards Greg

Hi, you demo for 3 weeks then you went live?
Please close your live account. You are not ready.
You made 900 in one day then one trade and you lose it all? You are not ready.

You need to work on your education. Read books. Learn about risk management. Do the babypips course. Take your time. Best of luck.

Enrol in the baby pips course my personal opinion you cannot learn much off youtube it is full of scammers/afiliate marketers preying on people.

I’m new also how ever i have traded on the demo account for months read numerous books and i do not have that kind of bank roll to play with if your losing £900 in once trade that means your risking 9%? i think this is to much but i may be wrong.

follow some journals to and have a look where they entered the trade and why i would also suggest reading a book or two on Candlestick patterns its a huge signal no matter what time frame you use.

Good luck in the future

The best platform for forex trading in my opinion is MetaTrader 4 because of its popularity. But when choosing a broker look for a broker with raw spreads and charge fixed lot size based commissions. Also look for a broker that offers extra features for MetaTrader 4 because their extra features will make the platform even more user friendly. Then when it comes to education, I’d suggest beginning with the USD majors only because they technically and fundamentally trade the best. That is trend lines tend to be respected more and they are more predictable with news trading too. Wishing you all the best with your learning journey.

I’m new into trading and looking for some new strategies to develop my skills in trading.

Has anyone been trading for more than 5 years, is there any strategy you use.

Such a quick shift from demo to live account isn’t suggested at all. I think a little more time should be spent on the learning and practice part.