Hi guys and girls,
Im a complete newbie and managed to watch my account go from 2000 to 300 in minutes. I was using a platform called 24option, 1 minute candlesticks combined with rsi and Bollinger bands. I realize now I have a lot to learn but I was wondering if anybody could advise me as to whether or not im going in the complete wrong direction or what?
Although they are focused on FOREX, all what you learn there can be applied to reading the price charts of any financial instrument: equities, futures, forex, etc...
Take your time to go through the entire school, and use your SIM account to practice in the meanwhile.
Once you are ready, and that's after months and months of practice, perhaps even years; you go back to your LIVE trading account, top it up to €5,000 or so if possible, and take it from there - You shall be able to recuperate your €1,700 by then in roughly 6 months to a year.
Successful people will do what unsuccessful people won't or can't do!
The following 2 users say Thank You to Fadi for this post:
Yeah, I definitely get more worked up with real money but I am keeping a journal and sticking to the strategy. I just seem to be chasing more often than not.....and this eats into the money management side of things. do you think I am using the right tools?
I believe it should be incredibly obvious to most anyone after that where most traders fail and why, and then you can make sure you are on a different path.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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