How long have you been professionally trading?

Cheers James, glad it's all helping you!

haha! Appreciate you watching James, thanks!

yeah, tell me about it :(

pounds*

Lost 300 just a minute ago.

Cheers Nathan! Thanks for watching :)

Daniel Wright yes but he paper-trades ...😂😂😂

Yes the stop losses did protect us from the losses getting much bigger. There were around 5 positions open (multiple trades within those positions, but I'm grouping them) each with a couple of % of the account at risk, so in aggregate it made up a large loss. As for hedging - we mainly hedge positions when we're trading for 'special opportunities'. E.g. if there is some sort of big event we are planning for and have researched around, we might hedge our positions so we only have exposure to that specific event and nothing else. Usually this is for other asset classes rather than Forex though.

Actually most profitable traders win less than 50% of their trades

@@michaelthomas1614 really? Then its good Money Management that is most important is it?

You're welcome!

Thanks Scott. It depends on the asset I'm trading and whether it's for company/fund or for my personal trading. CFDs can usually be fine. Spread betting is ok if you're trading smaller amounts, probably for accounts below £30k I would be fine with spread betting and it's often a good idea since it's tax free. As much as possible I trade direct in the market rather than having a broker b-booking my trades (and I would 100% avoid binary options or anything along those lines).

No that definitely makes sense.I'll be sure to recommend your vids to my friends! I'm researching so I can begin my trading voyage; and I'm starting small. I've already completed a technical analysis course and spoken to plenty of traders; I am now reviewing what type of trading would benefit me the most. I'm starting with around £2-3K with a view to trade prudently and as modestly as possible (setting small consistent goals). Thanks for giving the head sup on binary, looks FAR too dodgy and illegitimate. Do you recommend any particular type of trading given my account size?

Thanks mate, I appreciate that. As for which type of trading to do - I wouldn't base this decision on your account size, but I'd take a look more at how much time you intend to be trading each day, what your personal strengths and weaknesses are and how you actually want to trade. E.g. some people prefer to be more active and like things fast paced, whereas some people like to take their time and be more methodical and perhaps don't want to be in any high pressure situations. Some of those questions you'll be able to answer already, but a lot of it can only be figured out through trial and error (using a demo account during that time!). Not sure if you're already a member of the inner circle or not, but this is part of how we guide people in the free mini-series. Lesson 1 and 4 in particular are where we talk about deciding on a style of trading.

I need to contact you

Aylo Gxasheka oil?

Yes i was trading oil....and now im stressed yhoo....took my whole account of 30$ to 0,09$

Aylo Gxasheka 😶

Lol you serious?

It happens to everyone buddy! You'll learn from it and come back stronger.

I feel better too, only lost $350 in 3 weeks in my real small account. But on my practice account, I'd lost $83,000 in 3 weeks due to over trading and impatience..lol! Now I've learned from those mistakes.

It's all relative. Depends on the size of the account and how many times you've lost before. There were times when a few hundred was a massive blow and probably felt just as bad as some of the big losses that were made much later on!

Yeah true. A person who can only afford a small account and trade with a small minimum, their losses feels almost equivalent to someone with a big account who lose BIG money. It hurts either way but it happens. The strong will bounce back!

Being stubborn about your opinions and not listening to the market - seen that take out so many traders!

uh oh! Did your face turn green?

yep, still green, just one hour after the explosion... LOL

Don't worry buddy, it happens to most people at the start. Try to relax for the rest of the day and clear your head, then take some time this weekend to really break down and analyse what happened. You'll come back much stronger next time!

greeting from Indonesia... tQ

Any successful trader has blown an account or two In a way, you have to expect it.....learn, move on.... Never risk more than 2% on a trade. Money management Stop losses are your secret weapon as silly as that sounds

Forex and Euro Stoxx

I was over-exposed due to having too many opportunities open at the same time and didn't rectify that once I realised what was happening. I mention it in the video.

Thank you

Over time you stop fearing losing trades and recognise them as just part of the process. Remember, our aim isn't to win all our trades, but to be profitable overall - that means losses are expected.

It gets easier over time!

Haha 😂

Israel Easy how's it going?

I've been trading with real money for about 4 months. I've used a simulator for about 8. I still use 2 different simulators for 2 different strategies. The more I learn about trading the more I realize that it's difficult. I'm going through an emotional rollercoaster all the time and killing myself with anxiety and I really like it oddly enough. Still a while before I can be profitable; hopefully 2018.

Matt are you a gemini?

Scorpio

im giving myself a lifetime and never quiting.

I will give up if I stop making progress for prolonged periods of time with no profitability. I have a family I need to provide for. Dreams are nice and all but I need to sustain the ones I've already achieved.

Thanks, glad you liked it :)

Multiple trades at once, meaning way over the 2% combined. It was definitely a type of emotional trading - getting over-excited about having so many opportunities and still being euphoric about my previous run of success. It was actually exactly what I needed though, it grounded me again.

The Duomo Initiative - Financial Education Nicholas, how much total to risk?:) thanks!

Sounds rough, that's a lot of money! Hopefully you learned from the mistake. Sometimes it takes learning the hard way for us to truly develop.

About £200k

Jesus. On stock market?