Lesson for beginners from my Own experience!
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Thread: Lesson for beginners from my Own experience!

  1. #1

    Lesson for beginners from my Own experience!

    Hello folks, hope you guys are doing great, especially the beginners. I want to share a recent experience of my own thus you guys can face such situations tactfully.
    During the last FOMC meeting, there was high tension about Tapering. I was also concerned and determined not to trade during that crucial moment. But I don't know how I opened a bigger lot's trade then in one of my accounts. That account had about 100+ dollar and I opened a $1/pip sell trade in EURUSD.
    Unfortunately the market went against me instantly and I was having more than $50 negative in that particular trade. Then I opened another sell trade of same lot size! The 2nd trade became $12 profit but I didn't close it for more profit. But at last I lost the whole account!

    If I closed the 2nd trade then I wouldn't had to lose that account because I got stopped out at 1.3804 and the market's highest was 1.3810!

    So guys, in such crucial moment try to keep your calm and make the right decision. You might have to accept some losses but surviving is the key point.

  2. #2
    Yes, I've also experience that and I am having a stop out faster, it happens because the margins that we have divided into several opened orders, then that opened orders also weakened our strength margin. So it is advisable to open one order only, so that we can withstand the loss order with strong margin

  3. #3
    I really see they are 3 ways causes the loose to every new trade in forex market if we can avoid it we sure will be gainer in forex market.
    1/ We should never trade without stop loose
    2/ We should have a very strict money managamenet.
    3/ We should never trade with our emotions and feelings
    This three things is all mu expeience of forex market and the main reason to make loose.

  4. #4
    Trader
    Join Date
    Mar 2013
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    Am fuly awear of the difficulties of life,so ill try to bounce back
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    I can quit relate to your experience because u have myself been a victim of such situation which I would call either careless ness or greed, its quit unfortunate indeed to get stop out for an avoidable reason and it can he a painful experience for any trader because we fell into temptation of market volatility, and another mistake is using the high lot size.

  5. #5
    As a experience trader all i can say that when you will trade please focus on that and avoid your ego so that you can earn lots of money...If you want to become a good trader than you have to keep learn about Forex trading market so that you can earn lots of huge money and profits....keep patience and trade well..

  6. #6
    As a experience trader i can say that every beginner start to learn from demo account.Demo account is very important part of Forex trading it will help you to learn about the Forex market.Knowledge and experience is very important to earn profit from this business.Experience will help you to control your greed and emotion.

  7. #7
    I am also a new trader so I never trade during release of any Global news, as I have experienced many times that during news release hour ( some time pre release and some time post release market goes high volatile which moves either side, some time it may double our money and most of time it wiped out whole of the margin.
    So if you are not sure about the support and resistance level then avoid trading during this period.

  8. #8
    Banned
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    Feb 2014
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    I'm in this business of forex business facilities anywhere as long as it can connect to the Internet can not be run . Because so many people are interested in and obtain higher profit in this business run smoothly and can be obtained . So we are in this business is the boss , and we can connect to the internet anywhere as long as it can have an office . To get us whatever we want to get the maximum potential that exists in the forex gain .

  9. #9
    Lesson for beginners from my own experience is they should learn trading in full and then do real trading it is many times better to do daily loss and demo why because it is first step to success and demo account is freely available for learning that is reason new traders are taking its advantage

  10. #10
    Trader
    Join Date
    Aug 2013
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    Male
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    1,955
    I appreciate the efforts to share your trading experience which gives me a new lesson. I also faced same problem in many other trades. If I close the trade with small profit, then I had not to repent for big loss.
    Even, yesterday I faced same situation. My trade was 10 pips profit and waiting to reach 15 pips. But the result of those trades betrayed me resulting which I am running with floating loss for those trades.

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