Hello everyone reading my post today and welcome to my life experiences on my losses and lessons in forex trading.
I have seen so many advert on different types of trading and I got to meet a friend who introduced me Into trading and he tried to put me through into the process.
To me the only reason why I want to go into the trading was to generate income from it and that's what matters to me.
I was desperate to always earn.
I wasn't interested in learning the chart or understanding the signal when ever its available. And that's is when I got a huge lost in the business
I started the trading with 300USD few days ago and my lost is over 125USD due to my desperation .
When ever my Brooker send me a signal, I won't wait to get the next instruction on either to wait and allow the chart keeps reading, I wil be desperate to either close the trading immediately I see that there is a small profit of 8USD OR highest 11USD. And I will also close the chart immediately I see that the lost red sign is about going Into 5USD TO 10USD, I will just close the trading without the instructions of my Brooker and that has cost me a huge lost.. aside these errors I was doing that makes me enter into a huge lost, I was just getting signals from the internet from different brookers without knowing if they brokers are legit or not, I just start trading immediately they post signal.
My loses are bigger than my profit if you can watch from the picture Forex signals offer advantages as they allow traders to make a profit while still gaining knowledge about the world of trading with currencies.but I was impatient to know more and gain more knowledge about how trading works .
I sent this screenshot to my broker who I registered with him on XM. And I was complaining to him and indirectly putting blames on him and he asked me to show him my account, I forwarded my account page to him and that's where he found out that I I not following his instructions and he was disappointed at my stupidity 馃様 I was complaining to him that I want to withdraw the remaining balance and close down the trading that I'm no longer interested. He advised me not to make such a mistake and he instructed I delete other brookers that I'm getting signals from them. Also he also instructed that I should always wait until I hear from him to either send a signal that I should close the trading for continue the trading. Yesterday I followed his instructions and I made 11USD. I'm really happy because I have learnt form my mistakes.
My trading this morning is becoming sweet for me because I'm obeying the instructions of my Brooker and I'm definitely going to learn more about the trading rules and signals as a beginner.
LESSON: do not think of earning.. learn to understand the reasons why you are going Into forex trading.
Obey the Instructions of your brooker who is sending you signals.
Thank you all for ready and it's ok to comment and send advice 馃槉