I was trading on demo today and I observed that I was running on a profit sign, but after a while, I started losing my cash.
Can someone enlighten me on what went wrong?
the SELLERS said âGET OUT OF HEREâ buyers
or vice versa lol what were you trading?
Your analysis/bias became invalidated.
Action step: Close, Put a Break even stop or Use a Trailing stop.
I was trading buy âAUD/NZDâ and âGBP/CHFâ
Yes mate
You lost money !
Welcome to the forum, welcome to the hobby and welcome to the heartbreak and euphoria - of âTradingâ
Stick around - do the âschoolâ and justt keep trading âdemoâ until you have some idea of what itâs all about.
The market conspired against you. It waited for you to place your trade, then went the opposite wayâŚ
âŚjust kidding. But this is what trading sometimes feel like.
See how your strategy pans out over many trades, donât abandon it based on the outcome of this one event.
You stayed in the trade long enough for the market to turn around and eat up the profit you made. Incorporate a stop loss and a take profit target into you trading plan, this will help you to avoid this next time. Good luck and happy trading
Jaw, I know zilch about the Aud or Nzd except for squiggly lines on a chart - never presume to make money on squiggly lines.
Chf is the marketâs safe haven, that area in history where you would run to, if in Europe, in times of trouble.
You were selling Chf when the market was risk averse, ( i.e. it was afraid ) because of brexit, remember it buys Chf in such times.
Think of Switzerland, a very safe country, where train times are always to the minute, where there are no wars, no conflict, where Italian, French and German have come together without conflict during 2 world wars - thatâs the market view - safe.
Now research Jpy.
âŚand after researcing JPY, research AUD and NZD as âcommodityâ currencyâs and see how often they move with some underlying commodities like gold and copper.
Indeed Cigar, the market is a learnerâs paradise, or perhaps a thinkerâs paradise.
Think of how it is that German politicians dislike the notion of QE/money printing, primary school history lessons on the period between the 2 world wars have left a mark.
Or even why it is that the market buys Yen in risk off, the inclination of Japanese people to be canny savers/investors in the global market and how the market believes that in trouble times they bring their money home.
It amazes me that learners devote so much time to squiggly lines when there is a wealth of learning out there that can be coupled to the squigglies.