Hello, Accountant turns Fx trader!

[Soji4x]

Hello everybody,
I am Soji, from Lagos-Nigeria.
After years of running the rat-race as an accountant in the corporate Nigeria private sector. I have finally chosen to turn to Forex Trading.
I plan to keep my white-collar job for a couple of years more, then i hope to retire soon and fully concentrate on forex.
I have lost 50% of my initial fx-deposit last week.
I am here to learn ways to prevent (or reduce) further loss.

-Soji

 

[Romeo]

Hello everybody,
I am Soji, from Lagos-Nigeria.
After years of running the rat-race as an accountant in the corporate Nigeria private sector. I have finally chosen to turn to Forex Trading.
I plan to keep my white-collar job for a couple of years more, then i hope to retire soon and fully concentrate on forex.
I have lost 50% of my initial fx-deposit last week.
I am here to learn ways to prevent (or reduce) further loss.

-Soji

How long have you been trading?

 

[Soji4x]

@Romeo, I had been demo trading for over a year, but i opened a live account last month.

 

[Pharaoh]

It sounds like you just found out that demo and live have differences. There are two reasons for this. 1. Psychological - it's harder to accept a loss when it's real money. 2. Physical - a real account will experience real slippage and requotes, and may also be subject to broker manipulation.

Take a break from live trading and work on demo for a couple of weeks at least. Read this:

https://www.forexpeacearmy.com/fore...2272-how-manage-risk-while-forex-trading.html

 

[Soji4x]

It sounds like you just found out that demo and live have differences. There are two reasons for this. 1. Psychological - it's harder to accept a loss when it's real money. 2. Physical - a real account will experience real slippage and requotes, and may also be subject to broker manipulation.

Take a break from live trading and work on demo for a couple of weeks at least. Read this:

https://www.forexpeacearmy.com/fore...2272-how-manage-risk-while-forex-trading.html

Thank you, Pharaoh!
May you run and never stumble.. if you stumble, you 'll stumble on Pips!
Thanks for that link on Risk management.

 

[Romeo]

Thank you, Pharaoh!
May you run and never stumble.. if you stumble, you 'll stumble on Pips!
Thanks for that link on Risk management.

Many trading systems do work and produce profits. Adding the correct money management to your system will have steady positive results!

 

[Soji4x]

@Romeo... thats exactly what i will do.. I appreciate your comment.