Well, first of all I think you need to study more about Forex. Then you need to develope a strong strategy which make profit. It may take long time but if you will be lucky and know what you are going, you can make it faster. Also you can learn from existing strategies and see what they have done. Also ask questions. Alot of professional traders are here and have strong results.

Indeed it's not easy but possible.

Originally posted by fxpro

Well, first of all I think you need to study more about Forex. Then you need to develope a strong strategy which make profit. It may take long time but if you will be lucky and know what you are going, you can make it faster. Also you can learn from existing strategies and see what they have done. Also ask questions. Alot of professional traders are here and have strong results.

Indeed it's not easy but possible.

I'm in an agreement with you on these. Just to add more:

The average learning curve to learn how to profitably trade forex (or any other market) is about 24 months. What you want is to get from day one to the time you are consistently making money with the least loss possible.

Here's how you do it.

- First open a demo trading account - trade that demo account until you know and understand when to trade and when not to trade. That defines your trading method. - Trade some more and fine tune your trading method. - when you can trade your demo account and be profitable three months in a row, then open a live micro trading account with. - with this live micro trading account, set your leverage to 10:1 and trade only with 0.01 lot. or you can use Onada and trade only 1 unit. - trade this live account with your trading method and fine tune your trading method some more. - when you are able to trade your live account and show profits three months in a row, then add more funds to your account.

I hope this will help you uniquetrader

I think this video also good to make some clear points about loosing in Forex

These suggestions will definitely motivate me. So you suggestion is that I start practicing again with demo account?

This is a quote from Jimmy Chow:

"The best trading method is to take advantage of the crowd's greed and fear.

One must be able to read the current level of market's hidden energy to be a master trader.

A low risk high return trade is the trade that aligns with fundamental and is opposite the current market emotion."

Might as well use it as a strategy or something like encouragement.

Do not get frustrated by your results. Majority in forex loses. Try to overcome your weaknesses and be patient. Stick with the strategies that you define. Revise your strategies carefully if you think current strategy is wrong. Dont panic.

Stop trying to get rich within a month, don't be like me, don't lose up to $15,000 before learning your lessons, don't put all your eggs in one basket. Do not trade as if your life depend on it (gives your anxiety).

Have a money management

trade at most 5% of your total capital.

stop opening up trades indiscrimatively, you won't last long with this.

this is what i have for you for now.

You lost $15000 in one month?? ok and then you invested $20 again? Are you planning to invest big amount again or want to grow your capital with this $20.Can you please share a bit about loosing $15000? Your previous strategies and if you have used any EA in that period.

Nah, i didn't lose all the $15,000 in one month, it's an in between statement. the $15,000 represents all the amount i have lost so far since i started  trading forex close to 4 years now.

$6,670 to a broker who closed shop (butchet shop) after i turned my $4,000 into $6,670 in 10 days. primafx rings a bell?

$4,000 to a Nigerian colleague who claimed he could manage one of my accounts but ended up crashing my account in 2 days with just $4 left in the account

$2,000 to an indonesian mentor who i thought was going to help me make back part of the $4,000 i lost to the previous colleague but also crashed the account after 3 weeks

The last was a Malaysian trader i entered a PAMM deal with under instaforex, though it was just $300 but that money meant alot to me after losing the above mentioned amounts.

The rest amount after adding all these together was lost during the time i was learning forex and also during the periods my emotion took over me.

Hope you understand now? for now i don't have enough money to start strong again, thats why i started with just $50, the other $20 was a bonus given to me by a new broker i am testing.

Right now i don't use EA, i trade manually and every trade is called by me, i don't want robots doing my job when i am capable of doing it myself and getting perfect with it. my $20 is now $52 even after i have withdrawn $30 just to see how fast the broker is.

You can follow my system with this new broker to see how i am fairing. (started 2nd of june i think and its to run for the rest of the year) hopefully i should be able to grow the account to something meaninful.

Around $11000 of your money is lost by account managers and a scam broker. It shows that you were a bit careless in choosing broker and account managers. Moreover it looks like that you risked high amount of money without getting much information about forex. You have understood many things now but after loosing a big amount of money.