1000 to 150 in 2 weeks..

I have spent the last year learning the market. I did not live trade until I had doubled a demo account twice. I then live traded with Interbank FX using penny and dime trades. Only need 100-150 bucks to do that kind of trading. Now that I am getting better at it I am back to trading 1 dollar and 50 cent lots. This takes time and patience. If your not willing to take the time to get an AA or BA degree your not ready to trade. I know you cant get a real degree at a school but its the illustration I will use. This takes time to learn so you are either in for the long haul or you should not trade. Live trading pennies gives you live trading experience without the loss of money. Good luck.

You have to go extremely small now. Don't even think about trading minilots with $150. You have to go microlots and start learning and playing Money Management.

If you go for 2% loss top = $3.00 for, say 50 pips SL, you must trade $0.06 / pip. If you can grab 100 pips profit, you will make $6.00

Now if you try to go big as to get back to $1,000, you will lose the $150 faster then the devil blink his eyes...

Or, refund your account to get out of the pressure. But even with another $1,000, go microlots.

This is an advice for you not to lose your $150. As to start being profitable, you have a looong way to go.

one comment..

Thanks for paying my phone bill

Definately sounds like time for the thread starter to forget about trading live for now and concentrate on learning good strategy and money management.

Precurser,

Go back to a demo...When you have doubled your demo account balance go back and trade micro lots...

At least then you will have restored confidence in your system.

I lost $150 for the past 2 weeks.

Ah it was you I hate you...Seriously man, i hate you



--TNT--

If i were you, I would take 2 months off from trading. Use the time to:
(1) Question yourself what you did wrong.
(2) What really went wrong?
(3) I mean what really really went wrong.
(4) Do something that makes you happy. Something that has nothing to do with trading.

After 2 months of "vacation"...well, back to school. I douth if you could make some handsome profit anytime soon. Infact, I think you will loose more of your remaining balance. But, take it as an education. Learn your mistake from every looses.

Along the way, build up a trading stratergy, a method that fits you and stick to it. This i think will take months of even, years? A friend of mine bought 1 hect. of land for less then $20,000 in the 70's or 80's. Now the price has gone up to more then $100,000. The bottom line is that, STICK TO IT.

But then again, dont listen to me. Im not a pro. All I have is a 1.5year of trading expirience and a $500 live practise account. Anyways, all the best to you.


--TNT--