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Hello, Accountant turns Fx trader!

Discussion in 'Hello and Welcome' started by Soji4x, Jul 4, 2011.

  1. Soji4x

    Soji4x Private

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    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
     
  2. Romeo

    Romeo Sergeant

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    How long have you been trading?
     
  3. Soji4x

    Soji4x Private

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

    Pharaoh Colonel

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    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:

    http://www.forexpeacearmy.com/forex...2272-how-manage-risk-while-forex-trading.html
     
  5. Soji4x

    Soji4x Private

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

    Romeo Sergeant

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    Many trading systems do work and produce profits. Adding the correct money management to your system will have steady positive results!
     
  7. Soji4x

    Soji4x Private

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

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