Overconfidence and greed, that's the case. Lack of risk management was also exist in this case. But the way you pull yourself back and studying more about the market is pretty great.

Post your mistake here - warn others

Lol this thread Yeah, it's easy as buy when the price is low and sell it when it's high. What makes it hard? The market price movement is unpredictable

trading is simple - trading is easy

Cut loss is the main key when you're not using SL, execute it by yourself when you know the loss would be worse if you don't take an action to cut it...

Trading without stop-losses

True. If you think that loss is unavoidable, just make sure you know how to minimize it so won't suffer much losses...

reasons why traders lose

Thanks for the information, brother. Personally, I'm still wondering to use EA but at the other side I'm still learning how to trade well in forex. Unless If I have an ability to program it, I could make EA with my own trading system...

About Robots/Expert Advisors

Even a scalper uses stop loss to prevent any worse things when his internet connection got disconnected....

Trading without stop-losses

I know a professional trader who got almost a million bucks in his live account. Once he was about to withdraw them, the broker was against him, he couldn't withdraw his balance in his account. So, it's not just about your trading system, but you ...

If you have a profitable system, will brokers sabotage you?

Try to find a demo account that offers you to edit the capital for the demo account itself, make it equal as possible to your real fund so you wouldn't get surprised when trading on live account.

What demo account do you use?

#7 is the most important one when you're really deep into this business... May I add one more? It's to control your emotion. You may find it easy to control your emotion when you're playing around in demo account and got loss some, but don't expect ...

Some lessons from the real world

Make sure you know and understand the basics of forex itself, including how to operate the platform itself and how to make profits on buy/sell. Then you may want to train yourself in demo account (almost every broker has an access to demo account). ...

broker for newbie