One more trade, this time on the EUR/USD. And it was a success. I profited 54.60 USD on a 1000 USD demo account. image What you need to know to be profitable this way: 1.You need to know if the news are relevant enough to cause a decent impact on ...

I lost everything! 😭

One more trade, this time on the GBP/USD. And it was a success. Market reaction was moderate this time. I profited 152 USD on a 1140 USD demo account. image

I lost everything! 😭

OK, this time I woke up at 4:30am local time to trade the USD/CHF. And finally it was a big (and unexpected) reaction. And this time it was a success. I profited 81.58 USD on a 118 USD demo account (including 18 USD profit from previous trades). ...

I lost everything! 😭

I know, but it all starts on demo. I am not using stop loss because the probability of the market going to both directions are very low. But if it does happen, there is a pending order on the other side, and it might be executed. But I am risking ...

I lost everything! 😭

I did one more test just now, this time on the NZD/USD pair. It is the first time I try this on a currency pair other than EUR/USD. And it was a success. The market reaction was moderate again, but weaker than the last two trades. And I profited ...

I lost everything! 😭

I did another test just now on the EUR/USD, on a demo account. The trade took place at 15:30 (GMT+3, terminal time). Again, it was a moderate reaction (as expected); but stronger than the previous trade (as expected). And it was a success. I ...

I lost everything! 😭

OK, I did another test just now, on the EUR/USD. In a demo account, obviously (after all the loss it couldn't be different). I was not expecting a big reaction from the market today, but the movement was strong enough to make a profit. And this time ...

I lost everything! 😭

OK, this time I traded on demo and another unexpected thing happened. Fortunately, I wasn't trading live this time. image Please, help me understand what happened here (this is MT4 log): Orders placing time: 2024.06.12 09:28:38.854 '79115395': ...

I lost everything! 😭

The floating spread really is a problem. I can clearly see that when the market is at opening and closing hours, the spread increases 10x or higher. My mistake was to think that wouldn't happen during news; and it happens. Lesson learned. Maybe if I ...

I lost everything! 😭

My first contact with Forex was in 2011. It does not mean I have been dedicated to trading since 2011. I spent years out of trading. I started to put some effort into this just recently. As for live trading, I am not crazy to put big money before I ...

I lost everything! 😭

Only now I am seeing I risked far beyond I should. A 0.15 lot position would take approximately 93 pips to wipe my account. I had no idea I risked that much when I placed the orders. It should be much less than that.

I lost everything! 😭

These big moves that happen in the market offer opportunity. I just tried to take an advantage of it. Time frame doesn't matter much in this case, you just need to know what you are doing. I am OK. I just lost 20 USD. It is not much. But if my trade ...

I lost everything! 😭

Yes.

I lost everything! 😭

The biggest problem was that buy order. It made me lose 223 pips, and it should not even be executed. The sell order retracted and it was 0.15 lots against 0.05 lots of the buy order. That is why few pips destroyed my account.

I lost everything! 😭

I did not trade based on others opinions. I knew the market would move big in one direction, that is what happens after news release. What I did was to try and follow the wave, considering the risks. I tried the same thing on Thursday on the EUR/USD ...

I lost everything! 😭

I agree I should have set a stop loss. I did not do it because I did not expect that buy order to be executed. But I will do it next time. Of course, the stop will not work very well because price moves too fast, but it should minimize possible ...

I lost everything! 😭

It could have been this. The spread fluctuated and hit the stop limit. I did not expect that too. I will be trading with fixed spread broker next time.

I lost everything! 😭

I did not know which direction the market would take, so I had some pending buy and sell orders at set price ranges (buy stop and sell stop). When the market starts moving, the respective orders are activated when it crosses the price. The buy order ...

I lost everything! 😭

Well, if the FCA wanted small traders out... They will finally get it. Soon, risking your money with unregulated brokers will be the norm if it continues like that.

FCA imposes bonus ban and leverage cap for CFDs