It has been a few days since I started a live forex trade. I was very nervous on the first day, worried that I was going to make a loss.
I followed the guideline provided in our training . First go to Investing .com, look for the most important assets and choose the strong ones highlighted in blue or red(strong buy or strong sell). Then go to MT4 software,double click and look for the asset you selected,double click on the asset and confirm the correct symbol for example, EUR/USD.
Adjust the volume to your desired figure for example 0.3 to 1.00 as well as your “take profit to 10 pips”. Then place your order by clicking on the “buy/Sell tabs. And that’s it, the system starts running your trade. You can open as many trades as you want, it is advisable to open two or four trades only when you are a beginner.
I glued to my computer for the first 30 minutes, watching the ups and down of the trade. First day I made $30 and closed the trade for the day.
On the second day, I was confident and emotionally stable. I increased my volume to 1.00 and pips were still at 10.
I am glad to report that I made $1,474. on my third day. My coach was pleased! Below is a snapshot of trade activities:
I have to work on my ‘basic trading plan” and follow it strictly. I have bought my journal to be recording the events or some ups and downs.
It is normal to accept losses and move to the next trade-losing is part of the game in forex trading. The good thing is that I have to take responsibility for my success and failure in the market and we must accept what the market is willing to give, we have no control and we do not have to be greedy and get rich quicker! We have to take it slowly.
I am still learning the skill and no one will take it away. The goodness is that forex trading has been there for many decades and it will always be there for the rest of our lives.
So learning the skill is a great advantage! You can work from your own home at any time and when you become a professional forex trader, you can diversify your portfolio to more commodities on the market.