Hi,
I'm new here and I'd like to discuss my story. I began forex trading on demo as part of my school course at the end of last year. The competition was over and I came but my trading did not end there. In all honesty, I got addicted to it. I had been doing demo until the end of March when I had been quite profitable.
I understand it was too soon to spend but I could not resist. I was greedy and I spent $1000. I can't sleep when the market is available and I'm infront of my computer as much as possible.
After trading live for seven days, I lost some and gained a few but in the end, my equity is $950 so I lost $50. I got $50 bonus from the broker but that does not count. So, I'm $50 from where I began under.
I exchange micro lots and mini lots when I feel convinced. The truth is, when I commerce, though I have spent only $1000, the pressure is extreme and it gets harder for me to control my emotion. I though it's gonna be the exact same but performing demo is nothing like moving live.
Well, after reviewing my transactions, I have found that I put an order almost at the ideal time, but my exit is not perfect. That is because I get frightened. By way of example, once I exchange 0.1 lot, I put stop loss at 10 pips and have profit at 10 pips. The majority of the times, stop loss is hit or I shut the trade due to the fear of loosing more. However, once I reviewed my transactions, I have found that when I'd hold on to those lost transactions for an hour or two, I might have made a lot of money instead of loosing.
I don't understand how I can solve this issue for me personally. So I arrived here hoping that I would be helped by one of you experts.