I'm losing my deposit! Need advises! - page 2
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Hi everybody!I am newbie and I trade on demo-account. I decided to think that the demo like as real account. I think it will be useful me in future trading. I train on demo every day, try to understand in what way will go price. I have friends, they're newbies too and train on demo. So we decided to make a contest between us. The main idea of it is to make more profit. The contest will end on this week. So, I really want to win, because the winner will take a prize 1000 USD. May be I will lose and I would give that money to one of my friend... What the problem? I started well, my profit was 1 125USD. But suddenly price started to brake down. And I lost 700 USD. It's a pity. May be you'll be condemn us that we made such stupied competition. But we thought that it' ll be a good training and practise for us to study practical forex methodics of trading. Please, share some advices what should I do now? My balance is 1 125 USD, equity is near 350-400 USD, margin level is near 700%, currency pair is EURUSD. I practise scalping. I didn't close my present positions, I wait that the price will achieve that level when I opened posotions. Or it's stupied to wait the price? Tnanks a lot!
Don't think forex as a contest. If you think like that you cannot win. Consider yourself as a lucky one to contest with demo money. If you are going to do the same thing with real money then you are a gambler. Highly recommend you to learn the basics and improve trading psychology.
hello there, i suggest you should try to ask the expert like mario singh
If you lose more than 50% of your account, then you need to stop trading and go for further training. You need to know what you're doing wrong and start doing otherwise. Then you need to study the secrets of those who've been successful in the markets for many decades.
Hi everybody!I am newbie and I trade on demo-account. I decided to think that the demo like as real account. I think it will be useful me in future trading. I train on demo every day, try to understand in what way will go price. I have friends, they're newbies too and train on demo. So we decided to make a contest between us. The main idea of it is to make more profit. The contest will end on this week. So, I really want to win, because the winner will take a prize 1000 USD. May be I will lose and I would give that money to one of my friend... What the problem? I started well, my profit was 1 125USD. But suddenly price started to brake down. And I lost 700 USD. It's a pity. May be you'll be condemn us that we made such stupied competition. But we thought that it' ll be a good training and practise for us to study practical forex methodics of trading. Please, share some advices what should I do now? My balance is 1 125 USD, equity is near 350-400 USD, margin level is near 700%, currency pair is EURUSD. I practise scalping. I didn't close my present positions, I wait that the price will achieve that level when I opened posotions. Or it's stupied to wait the price? Tnanks a lot!
Please be patient in trading in the Forex market. I think you need more time to practice in demo account or else just give your broker a small amount to be able you to improve your trading ability. Anyway, what broker you are using?
Loss is a part of forex trading if you are loosing your amount quickly stop trading for some time. see your mistakes and choose microaccounts for trading practice in real market. The youwill not make great lossesy for you . Your profit and loss will be low but you can achieve valuable experience .
Yeah, you need way more knowledge.. One does not simply "learn" trading, one has to invest time.
Read a book or a good Tutorial first, you need basic knowledge to build upon.