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we all need to understand that Forex trading is a highly risky business in the world, and we have to develop our trading strategies, and if we can trade in the Forex market with proper discipline then we can make a good money.
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you can but if we want to be successful trading in the forex market, we shouldn't lose hope or interest in this trade but instead we should take time to learn from our mistakes that will give us more understanding about the market and in the future there is hope to recover our loss.
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dear friend learn from your own mistakes. you mentioned your problems very clearly. so try to change it, Use a fix lot size, 0.05 to 0.1 will ideal for your account and dont open too many trades at a time. Make a routine/time table to trade and fix a maximum hour to trade daily as per your trading style. And i would suggest to use the stop loss and take profit targets in each and every positions. and look for small profits and try to accumulate it instead of chasing after big profits.
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Each strategy is considered good but must develop it, because the forex market where there is no any constants but needs flexibility in handling and also the amount of $ 1,000 is a good amount of work can be done well
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Actual capital you use it more than enough for a beginner if you are trading like it. Capital $ 1,000, you can arrange money should manajemenen like this. Suppose you want to open the OP on GBPUSD pair with lot 1, then you should use SL and TP are both in accordance with the timeframe you use it. for this example, you are using the H1 timeframe as well, then you should use TP = 50 pips and SL = 75 pips.
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Forex is the business and the business has losses and profit ,so if you did lost $1000 then you should not stopped trading at all because loss is the part of the business and the next time you can doing profit easily and also recovery your losses .For this you should be to much patience on the business.
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Me to agar itna lose hoga to new stratgy and or jiada experiance is business me make krne ke bare me sochuga bhai jehi meri stratgy hogi me to hmesha hi is business me ashi stratgy ke sath trade krna like krta hun bhai
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dear aap ko pehly ye reason janni chaye k aap ko loss kis wajah se hoa aap ne stop loss use kiya ya nhi is k sath sath aap ne apni trades kis position mein lgai jis wajah se aap ko loss hoa so 1st learn your mistakes to improve them
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Losing 1000$ will hurt so badly especially for someone who don't have much, I can't afford to lose such amount now because am still struggling to survive in life, but if we deposit this amount and we have a better experience and knowledge about this business we can make good amount of money from it.
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Bhai agar ap ke pas 1000 dollar ka account hai to ap ko loss mere kheyal me nahi ho sakta hai kyun ke agar ap lalach karen ge to hi apko loss ho sakta hai lekin agar ap lalach ke bina money management ke sath operate karte hain to apko loss ke chances nahi hote hain.
