Keeps draining my account.

New comment
 
Ill be in a good trade and be in profit then all of a sudden the chart will glitch out and make me lose all my money. I kept forgetting to use a take profit. I keep searching live charts and the numbers never seem to ever go up that high on any other chart. Please help!. 
Files:
screwed.PNG  162 kb
 
syxdeep22:
Ill be in a good trade and be in profit then all of a sudden the chart will glitch out and make me lose all my money. I kept forgetting to use a take profit. I keep searching live charts and the numbers never seem to ever go up that high on any other chart. Please help!. 

No stop loss and no take profit will make you lose your money.

The market is full of all of sudden(s)... so you must be protected against them.

Work on your risk management too, try not to risk more than 1-2% of your capital in each trade, 5-6% for all open positions combined.
 

So this has happened to you?

 
syxdeep22 #:

So this has happened to you?

Of course, at start we've all been through these steps.

The wise thing is to learn from your mistakes and move on to better things.

Master your techniques, apply good money management and protection levels and you should succeed.

 
Thank you so much for your help. I didnt know how to place a stop loss. I should be able to do way better next time. 
 
You also need to keep an eye on the news calendar. A batch release of U.S. economic data will often shake the markets across the board, even if there's not much surprise in them (like today). And even crosses (pairs not involving USD) may spike.
New comment